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The Winning Investment Habits of Warren Buffett & George Soros
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| List Price: | $15.95 |
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Product Description
As Mark Tier demonstrates in this insightful book, the secrets that made Buffet, Icahn, and Soros the world's three richest investors are the same mental habits and strategies they all practice religiously. However, these are mental habits and strategies that fly in the face of Wall Street's conventional mindset. For example:
-Buffett, Icahn, and Soros do not diversify. When they buy, they buy as much as they can.
-They're not focused on the profits they expect to make. Going in, they're not investing for the money at all.
-They don't believe that big profits involve big risks. In fact, they're far more focused on not losing money than making it.
-Wall Street research reports? They never read them. They're not interested in what other people think. Indeed, Buffett says he only reads analyst reports when he needs a laugh.
In The Winning Investment Habits of Warren Buffett & George Soros you can discover how the mental habits that guided your last investment decision stack up against those of Buffett, Icahn, and Soros. Then learn exactly how you can apply the wealth-building secrets of the world's richest investors to transform your own investment results.
Product Details
- Amazon Sales Rank: #46909 in Books
- Published on: 2006-08-22
- Released on: 2006-08-22
- Original language: English
- Number of items: 1
- Binding: Paperback
- 368 pages
Features
- ISBN13: 9780312358785
- Condition: NEW
- Notes: Brand New from Publisher. No Remainder Mark.
- Click here to view our Condition Guide and Shipping Prices
Editorial Reviews
Review
"A must read!" Strait Times, Singapore "Reads like a thriller!" Peter Chen, investor, Sydney, NSW"
Review
"[He] has chronicled the mental habits that made Buffett and Soros the world’s richest investors – and allowed him to give up the rat-race." -Jennifer Hill, The Scotsman
"One of the most exciting investment books to come down the pike in a while."
-Laissez Faire Book Review
"…Tier’s approach is especially valuable because Soros’s and Buffett’s methods are so often different- yet, as Tier shows…amazingly similar. Great book – something I rarely say about this genre." -Doug Casey, editor, International Spectator.
"...great read…I recommend it…gets to the essential reasons for the investment success of Soros and Buffett better than any other book I have read…" - Chris Weber, editor, The Weber Global Opportunities Report
"Tier has written an excellent book. His chapter on exit strategies alone…is worth the price of the book." -Dr. Mark Skousen, editor, Forecasts & Strategies
From the Back Cover
Customer Reviews
One of the best investment books out there!
I am surprised that this book doesn't get the attention that it so rightly deserved. This is indeed a hidden gem! I have read dozens of investment books over the years and this book definitely belongs to my all-time top 5 must read. The writing is simply amazing with investment advices that are clear, succint and easily applicable to our own investment situations.
The book caters to a broad audience with investment advices that will prove beneficial to even the most seasoned investors. Beginners will love the book's approach detailing a step-by-step mental checklist to go through when making investment decisons. I am truly impressed by the author's careful research of coming out with 23 winning habits employed by the world's most successful investors including Warren Buffett and George Soros. I always thought that Warren is a true long-term investor and business owner whereas George is a amazing speculator taking advantages of current market conditions. Their investment philosophies must be worlds apart. Boy, was I wrong. As the author points out, they both have the same 23 winning investment habits as they go thru the same mental checklist when making investment decisions! This book is indeed a revelation.
I won't spoil the party by telling you what the 23 winning habits are. But I promise that each page is a head-turner and you will learn so much and improve your investment record up a notch for every habit that you acquired and practiced. It is one of those rare investment books that I have read cover-to-cover for a great many times and still find the urge to refer back to it. I am sure you will too!
Great Investment Recipe Book
I often think about successful investing as consisting of lots of different ingredients. But the key is getting all the ingredients right. Lots of people know some things, but they can't seem to put them all together into a coherent and workable investment style.
Tier's book helps you do that by taking apart and studying the nuances in Warren Buffett's and George Soros's approaches. Toward the back, it also includes a look at Carl Icahn and John Templeton.
Anyway, Tier breaks these styles down into winning habits. They are great fun to read about and Tier finds anecdotes and stories that you may not have heard before.
It's inspiring reading, actually, and it got me thinking about lots of different things successful investors do.
One of my favorite investment books.
an NLP approach: study the thinking of successful investors
Author Mark Tier applies Neuro-Linguistic Programming to investing. NLP is a discipline that says if you want to be good at something, emulate the thoughts of those who are masters and your own performance will follow. He collects all the information he can on Warren Buffett and George Soros and what they say they are thinking, and distills out 23 common elements. Then he compares this to several other investors.
The author then urges you to develop your own investing style and discover what your strengths are, rather than giving you particular advice or a system. He provides some advice on how to discover your investing style, but exactly how to develop one's own system is a little incomplete. What to do once you have it is very complete, although he gives an example of something John Templeton did late in life which seems completely outside John's system.
The book is an efficient way to gain insight into Warren and George without having to read multiple books by or about each man.
It also became clear to me for the first time that some people do become very wealthy only through investing, not through business or other means. So it is possible.
Warren Buffett's value philosophy is fairly well known, however the author gives the clearest account that owning a business and controlling the cash flow to make additional investments, a key point of Buffet's method, is not the same as just owning the stock, and a key difference between Buffett and his mentor Benjamin Graham.
Soros' investing philosophy is less well known, and the author provides insight into how Soros tests his ideas in the market before making the commitment to huge positions. Those of you interested in various "trading" styles might also want to check out The Complete TurtleTrader: The Legend, the Lessons, the Results.
