Looking over the shoulder of a fund manager
Book review: Deep Value Investing: Finding Bargain Shares with Big PotentialA guide to value investing that is worth every penny.
Published by Harriman House, £29.99
Over the past decade, value investing put simply, buying cheap stocks has languished in the shadow of growth strategies (buying the likes of Amazon, say). But with interest rates rising and economic storm clouds forming, it may be time for strategies that focus on "bargain shares with big potential" to bounce back.
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Bos, a fund manager by trade, uses the introduction and the first two chapters to explain what deep value investing is, how it differs from more conventional value strategies, and what he looks for when buying a share. The rest is dedicated to practical examples of shares that he has previously bought. As you might expect, he focuses mostly on his successes, but he's also open enough to cover several of his failures and what they taught him.
Each chapter explores the background of the company in question, his rationale for buying and what happened next, including his reason for selling. The book also includes an introduction by MoneyWeek's own Merryn Somerset Webb.
Most investment guides focus on general principles, so the level of detail Bos goes into makes a refreshing change. In all, it is like being able to look over the shoulder of a fund manager while he makes his decisions. Even at almost £30, this book is excellent value.
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Matthew graduated from the University of Durham in 2004; he then gained an MSc, followed by a PhD at the London School of Economics.
He has previously written for a wide range of publications, including the Guardian and the Economist, and also helped to run a newsletter on terrorism. He has spent time at Lehman Brothers, Citigroup and the consultancy Lombard Street Research.
Matthew is the author of Superinvestors: Lessons from the greatest investors in history, published by Harriman House, which has been translated into several languages. His second book, Investing Explained: The Accessible Guide to Building an Investment Portfolio, is published by Kogan Page.
As senior writer, he writes the shares and politics & economics pages, as well as weekly Blowing It and Great Frauds in History columns He also writes a fortnightly reviews page and trading tips, as well as regular cover stories and multi-page investment focus features.
Follow Matthew on Twitter: @DrMatthewPartri
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