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Book Review: The Little Book of Sideways Markets

I appreciate the cleverness and rigor that Vitaliy Katsenelson brings to value investing.  Value investing needs its popularizers, and Katzeneson does a very good job in explaining how good investing is a search after quality, growth, and value.

I don’t view value investing quite the same way… my views of value investing are a hybrid of the continuing concern view of Katzenelson and Dreman, and the resource conversion view of Marty Whitman.  Both views are correct, but depend on the market situation to make either one work.

I like the author’s views a lot.  I get to the same place he does, but I don’t follow the exact same procedures.  If you need more data, refer to his prior book, and read it in detail, because it is more comprehensive.

Quibbles

The book is a small improvement over his last book Active Value Investing, with some of his blog essays tossed in.

Who would benefit from this book:

Almost any investor would benefit from this book, aside from those that have read his prior work, Active Value Investing.  That was one of the first books I reviewed here, and it is still a good one.

If you want to, you can buy it here: The Little Book of Sideways Markets.

Full disclosure: This book was sent to me, because I asked for it, after Vitaliy offered it to me.

If you enter Amazon through my site, and you buy anything, I get a small commission.  This is my main source of blog revenue.  I prefer this to a “tip jar” because I want you to get something you want, rather than merely giving me a tip.  Book reviews take time, particularly with the reading, which most book reviewers don’t do in full, and I typically do. (When I don’t, I mention that I scanned the book.  Also, I never use the data that the PR flacks send out.)

Most people buying at Amazon do not enter via a referring website.  Thus Amazon builds an extra 1-3% into the prices to all buyers to compensate for the commissions given to the minority that come through referring sites.  Whether you buy at Amazon directly or enter via my site, your prices don’t change.






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One Response to Book Review: The Little Book of Sideways Markets

  1. [...] reviews for Vitaliy N. Katsenelson’s The Little Book of Sideways Markets. (A Dash of Insight, Aleph Blog [...]

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David Merkel is an investment professional, and like every investment professional, he makes mistakes. David encourages you to do your own independent "due diligence" on any idea that he talks about, because he could be wrong. Nothing written here, at RealMoney, Wall Street All-Stars, or anywhere else David may write is an invitation to buy or sell any particular security; at most, David is handing out educated guesses as to what the markets may do. David is fond of saying, "The markets always find a new way to make a fool out of you," and so he encourages caution in investing. Risk control wins the game in the long run, not bold moves. Even the best strategies of the past fail, sometimes spectacularly, when you least expect it. David is not immune to that, so please understand that any past success of his will be probably be followed by failures.


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