Synopsis
This book concentrates on the investment style of Business Perspective Investing, as practiced by Benjamin Graham and Warren Buffett. It takes the reader through the realisation that the thought process involved when buying shares in a company is no different to buying the company in its entirety.
Beginning with how to assess the quality of a business, it explains and illustrates with examples what to look for in company accounts, how to determine the value drivers of a business, the strength of its franchise and how to interpret key financial ratios and performance indicators. It discusses the ideal characteristics of a business worthy of investment so that you will develop a mental checklist of what to look out for.
The book then sets out a number of valuation methods to determine the likely economic worth of a company. It is against this estimate that a judgement can be made as to whether a share price offers good value.
The book concludes with thoughts on portfolio construction, in particular Focus Investing, where a concentrated approach is taken, and legitimate reasons for deciding to sell a holding. Throughout, the emphasis is on the methodology used to manage the SDL UK Buffettology Fund.
Details
29 July 2016
9780857194848Reviews
When I met Keith Ashworth-Lord more than 15 years ago, he really had all of the qualities that a young Warren Buffett had. Patience, discipline and that ability to really look at an investment like he was going to buy the whole company. He could and would dig in to the management, financials, you name it. I had trademarked Buffettology in 1997, knowing it would be a good investing brand. Keith is the only person I ever gave a licence to use the brand and we are glad that we did. Does he stay on the straight and narrow? As difficult as the last few years have been for investors and finding investments, I would say that the fact the ConBrio Sanford Deland UK Buffettology Fund has received multiple awards and is among the top 100 funds says it all. Great job Keith, now just another 50 years!Mary Buffett, CEO/Founder, Buffett Enterprises, Inc.
I know of no one on either side of the Atlantic who has embodied the investment methodology of Warren Buffett better than Keith Ashworth-Lord. As far as I am concerned he is the Warren Buffett of the UK. And he has written an absolutely wonderful investment book that is seriously worth reading and rereading. I put it right up there some of the best books on value investing ever written, including Benjamin Graham's The Intelligent Investor and my very own Buffettology. If you read only one book on investing this year, I highly recommend that it be Keith's book Invest in the Best it's what we here in the States call a real money maker!David Clark, Coauthor, Buffettology
A thoughtful, reliable, and pithy adaptation of the value investing tradition Warren Buffett popularized. Ideally suited for the serious investor as well for managers who care about what such investors think.Lawrence A. Cunningham, Editor, The Essays of Warren Buffett, Professor, George Washington University
This book gives a fascinating insight into a fund that's unashamedly devoted to applying Warren Buffett's philosophy to the UK stock market. It will appeal to investors who want to develop their investment style and strategyMoira O'Neill, Editor, Moneywise
