Concentrated Investing: Strategies of the World's Greatest Concentrated Value Investors

Concentrated Investing: Strategies of the World's Greatest Concentrated Value Investors


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Product Details

ISBN-13: 9781119012023
Publisher: Wiley
Publication date: 04/25/2016
Pages: 256
Sales rank: 859,539
Product dimensions: 6.10(w) x 9.10(h) x 1.00(d)

About the Author

ALLEN C. BENELLO, CFA, is the chairman of White River Investment Partners, LLC, a private investment firm in San Francisco.

MICHAEL VAN BIEMA is the founder and man- aging principal of van Biema Value Partners, LLC, and coauthor of Value Investing.

TOBIAS E. CARLISLE is a partner at Carbon Beach Asset Management, LLC, and author of the books Deep Value and Quantitative Value and the blog.

Table of Contents

Preface ix

Acknowledgments xiii


Concentrated Investing 1

Chapter 1 Lou Simpson: The Disciplined Investor 5

A Portrait of Concentration

Chapter 2 John Maynard Keynes: Investor Philosopher 35

The Economics of Concentration

Chapter 3 Kelly, Shannon, and Thorp: Mathematical Investors 71

Concentration Quantified

Chapter 4 Warren Buffett: The Kelly-Betting Value Investor 89

Portfolio Concentration for Value Investors

Chapter 5 Charlie Munger: Concentration’s Muse 109

Quality without Compromise

Chapter 6 Kristian Siem: The Industrialist 131

The Importance of Permanent Capital to the Long-Term Investor

Chapter 7 Grinnell College: The School of Concentration 159

Concentration and Long-Term Investing for Endowment

Chapter 8 Glenn Greenberg: The Iconoclast 177

Simple, Common Sense Research, and Tennis Shoes

Chapter 9 Conclusion 203

The Concentrated Investor’s Temperament

About the Authors 221

Index 223

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