"It's hard to talk clearly about investing and make sense to ordinary readers at the same time. Katsenelson gives a lucid explanation of today's markets with sound advice about how to make money while avoiding the traps that the market sets for exuberant bulls and frightened bears alike." -- Thomas G. Donlan, Barron's
"A thoroughly enjoyable read. Provides a clear framework for equity investing in today's 'sideways' and volatile markets useful to everyone. Clear thinking and clear writing are not often paired - well done!" -- Dick Weil, CEO, Janus Capital Group
"The bible for how to invest in the most tumultuous financial market environment since the Great Depression. A true guidebook for how to build wealth prudently." -- David Rosenberg, Chief Economist & Strategist, Gluskin Sheff + Associates Inc.
"A wonderful, grounded read for new and seasoned investors alike, Katsenelson explains in plain English why volatility and sideways markets are a stock picker's best friend." -- The Motley Fool, www.Fool.com
Praise for Active Value Investing
"This book reads like a conversation with Vitaliy: deep, insightful, inquisitive, and civilized." -- Nassim Nicholas Taleb, author of The Black Swan
Table of Contents
- 1. Fasten Your Seat Belt
- 2. A Sideways View of the World
- 3. Don't Shoot the Messenger
- 4. Tevye Was a Rich Man
- 5. What We Can Learn from Gamblers
6. Brought to You by the Letter "Q" (For Quality)
- 6.1. Don't lose money.
- 6.2. The Barbed Wire Fence
- 6.3. Not All Brands Are Created Equal
- 6.4. The Power of Free Cash Flows
- 6.5. Not All Capital Expenditures Are Created Equal
- 6.6. Analyze This
- 6.7. How Good Is Management at Spending Your Money?
- 6.8. Recurrence of Revenues Beats Consistency of Earnings
- 6.9. Debt Is Good, Except When It's Not
- 6.10. Accept No Substitutes
- 7. Brought To You By The Letter "G" (For Growth)
- 8. Brought To You By The Letter "V" (For Valuation)
9. Add It Up
- 9.1. One Out of Three: Not Enough
- 9.2. Two Out of Three: Better, But Is It Enough?
- 9.3. Compromise? Not!
- 10. Nip/Tuck
- 11. The Born-Again Value Investor
- 12. Applying Darwinism to the Sales Process
- 13. You Are Not As Dumb—or Smart—As You Think
- 14. On a Scavenger Hunt For Stocks
- 15. Farewell, Blissful Ignorance
- 16. Think Different
- 17. I Could Be Wrong, but I Doubt It
- Title: The Little Book of Sideways Markets: How to Make Money in Markets that Go Nowhere
- Release date: December 2010
- Publisher(s): Wiley
- ISBN: 9780470932933