The Entrepreneurial Investor will inspire you to treat investing like a business and to think of yourself as an owner. Through solid examples and a light narrative, Paul Orfalea skillfully explores the essence of the entrepreneurial investor, which includes balancing the art and science of this discipline, and viewing investing itself as a business. Along the way, he also examines how the elements of focus, opportunism, and involvement can improve your overall investment results.
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About the Author
PAUL ORFALEA is the founder of Kinko's and cofounder of West Coast Asset Management (WCAM). He holds a business degree from the University of Southern California and has been investing successfully for more than forty years.
LANCE HELFERT is President and cofounder of WCAM. Previously, he oversaw a $1 billion portfolio at Wilshire Associates. Helfert has a BS in business administration from Pepperdine University.
ATTICUS LOWE is a CFA charterholder and Chief Investment Officer of WCAM. He has a BA in economics and business from Westmont College.
DEAN ZATKOWSKY is the former vice president of marketing at WCAM and oversees their newsletter, Exclusive Outlook (please visit www.wcam.com to subscribe). He holds a BA in communication studies from the University of California, Santa Barbara.
Table of Contents
Forewordby Neil Cavuto vii
Introduction: Is Investing an Art or a Science? xi
Part I: Think Like an Owner: The Art of the Entrepreneurial Investor 1
Chapter 1 Eyes Believe What They See; Ears
Believe Others 3
Chapter 2 Others’ Irrationality Is Your Opportunity 9
Chapter 3 Dirty Harry’s Investment Philosophy 13
Chapter 4 Adversity in Diversity: Portfolio
Chapter 5 Just Buy the Best (Which Does Not
Include Most Mutual Funds) 21
Chapter 6 Inspirational Figures: Benjamin Graham 27
Part II: Companies Worth Owning 33
Chapter 7 Who Really Manages The Brand?
(Hint: It’s Not the Company) 35
Chapter 8 What Makes You So Special? 39
Chapter 9 Company Culture Is More Important than Ever 45
Chapter 10 Bogie & Bergman Explain
Elasticity of Demand 51
Chapter 11 Red Flags and Roaches 57
Chapter 12 Inspirational Figures: David Packard 65
Part III: The Owner’s Manual 71
Chapter 13 Televised Advice: No Worse than
Drilling Your Own Teeth 73
Chapter 14 Lies, Damned Lies, and
Financial Statements 79
Chapter 15 How to Be an Annual Report Detective 85
Chapter 16 How Inventory Can Skew the Financials 91
Chapter 17 Great First Impressions: 10 Signs of a Strong Company 99
Chapter 18 Inspirational Figures: Bernard Baruch 105
Part IV: What’s It Worth—To Me? 111
Chapter 19 The ABCs of Market Ineffi ciency 113
Chapter 20 “Wait Till the Moon Is Full” 119
Chapter 21 Today’s Price for Tomorrow’s Growth: The X Factor 123
Chapter 22 The Long View, and Why Women Are Better Investors 129
Chapter 23 Intrinsic Value: Putting it All Together 139
Chapter 24 Inspirational Figures: Howard Hughes 147
Epilogue: The Fortune Cookie That Ate Wall Street 153
About the Authors 157
Notice and Disclosures 159
Most Helpful Customer Reviews
I recommend this book because it was written with humor, but invaluable information for strategies to view any company that is worth considering your investment. I have rarely read a book that is so packed full of solid business considerations for investing. I especially liked the chapter that gave 10 signs of a strong company.
I was a little disappointed with the over simplified content. It felt that the authors wanted to share their thoughts on investing but weren't really committed to a well thought out book. All said, it is an easy to understand summary of value investing and would be really helpful to novice investors. Below are some key points from the booka. Think about stock as an ownership in a business and not like a piece of paper. Pretty much evident from the topic of the book.b. Diversification for distributing risk is really lazy investing that produces mediocre results. That's what mutual funds do.c. Individual investors could really beat the market with some discipline and home work.A lot of good ideas strewn here and there but not really elaborated well. That's why I'd like to call this book a summary of a lot of good ideas, but not a book to study and understand any of these in detail. May be that was the authors' motive, to keep it simple and introduce people to these great ideas.