James Montier, GMO. James is a member of GMO’s Asset Allocation team. Prior to joining GMO in , he was co-head of Global Strategy at Société Générale. James Montier’s book Value Investing is essential reading for value investors. With markets falling due to fears over China’s economy – the. “”As with his weekly column, James Montier’s Value Investing is a must read for all students of the financial markets. In short order, Montier shreds the ‘efficient.

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This book or rather, anthology of articles published by the author for the SG Group was a helpful blend of concrete evidence and advice for value investing as well as a guide of behavioral finance. Finally, note that you can be wrong in the short term — as the stock you bought continues to decline — but correct in the long term as the stock price moves towards its intrinsic value.

You are currently using the site but have requested a page in the site. Dec 30, Matt Kelty rated it it was ok.

8 investing tips from James Montier – InvestSMART

He could also be clearer on what exactly investors should do, although what we should not do is well-explained. Do you know where they are now? Request permission to reuse content from this site. Cigarrfimpar rated it liked it Dec 18, Amazon Renewed Refurbished products with a warranty.

Value Invest

The only risk that matters is permanent capital impairment, a view he attributes to Benjamin Graham, who is considered by some to be the founder of value investing.

One of the reasons that cheap stocks become cheaper is that many investors don’t want to catch a ‘falling inveating and so wait until they have a clearer view of a company’s prospects. Buying a stock a year after a profit warning is generally a good idea.


Books by James Montier. When profit warnings occur in our companies we find ourselves making excuses for the company.

The influence of luck in investing — particularly over the short term — means that investors can never be certain a particular investment will be profitable. I’m sure there are a few academics around who disagree, but not many. The second section is on behavioral economics. Value, value, value Tenet II: Jun 17, Rob Kol rated it it was amazing.

Tools and Techniques for Intelligent Investment. Get to Know Us. Opportunity or Value Trap? Montier, I think successfully, debunks a number of popular investment theories that drive investint many investment decisions: For example, he spills quite a bit of ink telling the reader moontier to forecast. His philosophy is very practical and data-driven, and while CAPM provides enticing formulas that have theoretical appeal, the framework simply hasn’t been predictive.

Well written-‘s book reminds us all to remain objective and con Montier’s work uses empirical evidence to support value investing principles. Focus on processes rather than the outcome. A great quote from the book comes from Third Avenue Management who said “DCF is like the Hubble telescope, if you move it an inch you end up studying a different galaxy”.

Montier also, like Thaler and others before him, points out how we are all victims of our own biases and of the decision traps our brain architecture always wants to throw us into. There are comments posted so far. Enabled Amazon Best Sellers Rank: Dec 21, Jonathan rated it liked it. In fact, you can probably track down a lot of it on the internet. This can create opportunities for investors who aren’t subject to these restrictions.


If you like books and love to build cool products, we may be looking for you. Widely regarded as a “perma-bear” by most market observers, Montier makes the case for being bullish last year despite widespread jqmes of deflation driven by leverage and credit contraction.

8 investing tips from James Montier

Our HealthCheck crunches the numbers, helping you to improve your returns and reduce risk. If you are expecting “tools or techniques” as the subtitle promises, you jqmes be disappointed.

Everything seems worth highlighting! Simply put, the best, most comprehensive book on value investing I’ve ever read. Read reviews that mention value investing james montier tools and techniques behavioral finance well written little book book on value behavioural investing great book book is a collection read of this book investment graham market chapter markets provides approach chapters insightful.

Montier makes his arguments with clear insight and spirited good humor, and then backs them up with cold hard facts. I’ll probably read this section again.

Scott S rated it really liked it Oct 01, There’s a bit more to it than that, including the basics of looking for jajes on the balance sheet, problem CEOs, etc. Montier makes his arguments with clear insight and spirited “As with his weekly column, James Montier’s Value Investing is a must read for all students of the financial markets.

This is largely a collection of articles, with no real effort made to put them together in a cohesive way.