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    Lessons From The Successful Investor
    Lessons From The Successful Investor
    Lessons From The Successful Investor
    Ebook145 pages1 hour

    Lessons From The Successful Investor

    By Robin R. Speziale

    4.5/5

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    About this ebook

    Lessons From The Successful Investor is the new investing classic of our time. With thousands of downloads, this new investing eBook has topped bestseller lists on major digital book stores and has received rave reviews from media and readers.

    "This eBook is an absolute must for all new and inexperienced investors"

    The new investing classic contains 85 timeless lessons to help you build a quality portfolio of value stocks that will make you wealthy.

    Lessons From The Successful Investor was written by Robin R. Speziale, a value investor and web entrepreneur. Speziale also delivers quality value investing speeches to his wide and devoted reader base. His mission is to spread the 85 value investing lessons to aspiring and skilled investors alike.

    "A fan of Warren Buffett, he’s a value investor who loves consumer companies with a strong brand and a “moat,” a competitive advantage that others cannot easily penetrate." --Ellen Roseman, Moneyville

    "Mr. Speziale has plenty of advice to pass on in his new book." --The Globe and Mail

    "Robin Speziale has a passion for investing in his own financial future, and that of others." --The Mississauga News

    Lessons From The Successful Investor eBook will show you for the first time how to invest like the successful investor. And although his investing lessons are not revolutionary, they endure the test of time. There exist a few core lessons that underlie successful investing, and while these lessons do not change, the common investor does. For the successful investor, investing is like picking cherries in an orchard of corn.

    "This book has given me the confidence to be able to manage my own portfolio." -- Reader

    "I have been reading many books on investing in the last while and by far this has provided the most insight." -- Reader

    "I have the Ben Graham book but you have made it make sense." -- Reader

    With 85 value investing lessons, the new investing classic focuses on:

    - Market History
    - Business Valuation
    - Competitive Advantage
    - Stock Valuation
    - The Ideal Investment
    - Management
    - The Portfolio
    - Investor Giants
    - Investor Psychology
    - The Antiquity Theory
    - Successful Mentality
    - Compounding Wealth and Dividends
    - The Young Investor
    - The Investment Industry
    - Recessionary Investing
    - Fundamental Equations
    - Future of the Market

    Download the new investing classic today. Start your portfolio of value stocks and build wealth.

    "Investing returns are plentiful for those who understand the lessons from the successful investor"

    LanguageEnglish
    PublisherRobin R. Speziale
    Release dateSep 1, 2010
    ISBN9781452326818
    Lessons From The Successful Investor
    Author

    Robin R. Speziale

    Lessons from The Successful Investor has been a surprise success. I wrote Lessons From The Successful Investor immediately after graduating from the University of Waterloo, having been constantly asked by friends, family, co-workers and acquaintances to consolidate my value investing knowledge into a neat package for easy consumption. That said, the summer of 2010 consisted of researching, writing, and editing Lessons From The Successful Investor, which finally launched September 1, 2010 across major digital book stores. Initially, downloads of the eBook trickled in. However, my value investing speaking appearance at the University of Toronto, coupled with select media coverage, catapulted Lessons From The Successful Investor to the top of major digital book stores. And at that point, downloads started pouring in followed by wonderful feedback from readers, aspiring value investors, around the world. A reader review that struck me was from a gentleman based in Portland, Oregon, who proudly exclaimed, “I have the Ben Graham book but you have made it make sense”. You see, Ben Graham is the father of value investing, author of The Intelligent Investor, and my investing idol. That was a turning point for me. I started touring Canadian Universities, spreading the value investing lessons from Lessons From The Successful Investor. I compiled brand new investing eBooks in 2012. And I started consulting individuals on value investing principles. At the end of the day, what makes me happy is when readers like you benefit from my value investing lessons. Indeed, Lessons From The Successful Investor is the investing classic of our time, containing 85 timeless lessons to help you build a quality portfolio of value stocks that will make you wealthy. Once you finish reading this eBook, I hope you download the original Lessons From The Successful Investor and find out for yourself what aspiring value investors around the world are raving about and profiting from. Sincerely, Robin R. Speziale

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      Book preview

      Lessons From The Successful Investor - Robin R. Speziale

      LESSONS FROM THE SUCCESSFUL INVESTOR

      Robin R. Speziale

      ***

      Published by Robin R. Speziale at Smashwords

      Copyright 2010 Robin R. Speziale

      ***

      Investing returns are plentiful for those who understand the lessons from the successful investor

      1.Profit from market folly

      2.Evaluate a business for advantage

      3.Evaluate a stock for value

      4.Invest in only the ideal investment

      5.Manage effectively your portfolio

      6.Think like the successful investor

      7.Beat the market like investor giants

      8.Ignore industry and investor sentiment

      9.Compound your wealth forever

      10.Employ a utility belt of equations

      ***

      "That some achieve great success, is proof to all that others can achieve it as well."

      Abraham Lincoln, 16th US President

      ***

      Contents

      INTRODUCTION

      Chapter 1 - MARKET HISTORY

      Chapter 2 - BUSINESS VALUATION

      Chapter 3 - COMPETITIVE ADVANTAGE

      Chapter 4 - STOCK VALUATION

      Chapter 5 - THE IDEAL INVESTMENT

      Chapter 6 - MANAGEMENT

      Chapter 7 - PORTFOLIO

      Chapter 8 - THE STARTER PORTFOLIO

      Chapter 9 - THE INVESTOR GIANTS

      Chapter 10 - INVESTOR PSYCHOLOGY

      Chapter 11 - THE ANTIQUITY THEORY

      Chapter 12 - SUCCESSFUL MENTALITY

      Chapter 13 - COMPOUNDING WEALTH

      Chapter 14 - THE YOUNG INVESTOR

      Chapter 15 - THE INVESTMENT INDUSTRY

      Chapter 16 - REAL ESTATE

      Chapter 17 - RECESSIONARY INVESTING

      Chapter 18 - FUNDAMENTAL EQUATIONS

      Chapter 19 - FUTURE OF THE MARKET

      CONCLUSION

      ***

      LESSONS FROM THE SUCCESSFUL INVESTOR

      Learn To Invest Like The Successful Investor

      ***

      Introduction

      The 85 investing lessons herein will teach you for the first time how to invest like the successful investor. Although these 85 investing lessons are not revolutionary, they endure the test of time. Indeed, there exist a few core lessons that underlie successful investing, and while these lessons do not change, the common investor does. It perplexes the common investor how easily the successful investor builds his wealth. However, for the successful investor, investing is like picking cherries in an orchard of corn. Furthermore, with each core chapter throughout, important investing lessons are taught. To effectively learn the 85 lessons from the successful investor, a lessons learned section follows each core chapter. So that long after reading Lessons From The Successful Investor, one can simply glean back to those lessons learned to refresh his knowledge. Without further introduction, enjoy and study diligently the 85 lessons from the successful investor, for he will prove to be your wisest and most profitable investing teacher.

      ***

      Chapter 1

      MARKET HISTORY

      Those who cannot remember the past are condemned to repeat it.

      George Santayana

      1: Boom and Bust

      S&P 500 (1950-2010)

      The chart above shows the S&P 500’s performance from 1950 to 2010. A sixty year historical chart is shown to illustrate that over the long term, the S&P 500 has increased in value. Notice the S&P 500’s power tread line – a smooth upward progression. However, also notice the S&P 500’s two significant declines from 2000 to 2002 and from 2007 to 2009. The former period is coined the technology bust while the latter period the financial crisis. Both periods resulted in significant stock market destruction. Moreover, preceding the technology bust, investors adamant on infinite growth in the technology sector invested rapidly in severely overvalued technology stocks. And preceding the financial crisis, the U.S. housing bubble pop precipitated the implosion of Wall Street’s collateralized loans, seizing global credit markets. In the aftermath of both periods, the S&P 500 and global markets alike experienced a rapid fire sale, thrusting stock prices downward across the board. Furthermore, during market decline the successful investor simply gleans back to his historical charts to assure himself markets move upward in the long term.

      Lesson Learned 1: Through boom and bust, the market moves upward.

      2: This Time, It’s Different

      Gloom quickly ensued as stock markets fell like falling knives in both the 2000 to 2002 and 2007 to 2009 periods. For instance, the financial crisis loomed so great in 2008 that experts touted a second great depression was mushrooming. And with each period, investors and experts alike exclaimed, this time, it’s different. However, market declines are both common and similar. Understanding this, the successful investor is unfazed by market turbulence. First, for every decade hereafter, the successful investor expects at least seven market declines. Second, after every substantial market decline, the successful investor expects the S&P 500 to emerge again. For example, in 2009 the S&P 500 reversed its 2008 decline of -37.22% to post gains of 27.11% and in 2003 the S&P 500 reversed its 2002 decline of -22.27% to post gains of 28.72%. Clearly, the process of decline and recovery was similar for both the technology bust and the financial crisis. Never succumb to the mentality that the market is different this time.

      Lesson Learned 2: It’s not different this time.

      3: Profit from Loss

      The successful investor understands it is profitable to invest at the nadir of stock market decline. As Warren Buffet prescribes, be fearful when others are greedy and greedy when others are fearful. Fearful investors drive the stock market down to bargain levels during perceived catastrophe; the point in which the successful investor becomes greedy. One may wonder when one should invest during broad market decline, weary of catching a falling knife. The successful investor simply invests in stocks of quality businesses that are trading at attractive valuations and does not worry if those stocks should decline. If you wait for the robins, spring will be over is a sobering quote from Warren Buffet, who stresses that not even the successful investor can accurately time the market. Thus, he must invest at perceived point of nadir, otherwise, miss the market’s rebound. Conversely, the common investor sits on the sideline during broad market declines, waiting for an opportune time to re-enter the market, to then later regret missing significant market advances. Overall, the successful investor appreciates market declines as he can then invest in quality businesses at a discount.

      Lesson Learned 3: Significant returns are got by investing at market nadir.

      4: Investor Business Cycle

      The successful investor has studied the investor business cycle diligently. Otherwise, he succumbs to buying stocks high and selling stocks low. The Investor Business Cycle: the common investor sells stocks at panic, completely sells out at gloom, buys in slowly again at hope and becomes fully invested again at euphoria. The successful investor never sells stocks at panic or gloom, but invests more at gloom, and rides the wave.

      Lesson Learned 4: Invest during gloom, never sell, and ride the wave.

      5: Wal-Mart is Dead

      Investing in a stock that has for years been sputtering on the market is challenging. One may ask himself, if I invest in this stock, what if it sputters for another ten years? However, one should find comfort in that a sputtering stock will eventually be awoken by the growth beneath.

      Wal-Mart (1989-2010)

      Looking at its chart, there is no question Wal-Mart sputtered from 2000 to 2010. However, a sputtering stock is advantageous to the successful investor, if of course that stock is coupled with underlying business growth. For instance, while Wal-Mart’s market capitalization has hovered around $180 billion, its underlying business has grown. To explain, from 2000 to 2009, Wal-Mart’s revenue grew from $191 billion to $405 billion, net income grew from $6 billion to $14 billion, earnings per share grew from $1.40 to $3.66, book value grew from $31 billion to $70 billion, and because

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