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Zebra In Lion Country: The Dean Of Small Cap Stocks Explains How To Invest In Small Rapidly Growin by Ralph Wanger, Everett Mattlin
Book Summary InformationAuthor: Everett Mattlin, Ralph Wanger Edition: Paperback Audio: English (Unknown); English (Original Language); English (Published) Published: 1999-02-26 ISBN: 0684838818 Number of pages: 256 Publisher: Touchstone
Book Reviews of Zebra In Lion Country: The Dean Of Small Cap Stocks Explains How To Invest In Small Rapidly GrowinBook Review: On the ground intelligence serves to verify the fundemental analysis Summary: 5 StarsThis book is NOT even similar to Fundamental Analysis, by Graham ( Buffet's peer so to speak - value investing), it is not
Technical Analysis book. It is similar to Lynch's book - One up on Wall Street, but better - I am a bit biased possibly - I been in the Acorn Fund since about 1986 or so, and like him I have my BSEE, although I am not as heavily invested or concentrated in that fund anymore. Acorn Funds was bought by Liberty Funds, which was then bought by Columbia (BoA). I would give One up on Wall Street four stars, Wagner gets five, I do not rate it as a fundamental analysis book, nor technical analysis book. It's no longer a small cap fund with 200 million or so in assets when I opened my account in ACRNX - it's now a mid cap growth fund, with 11 billion dollars in assets. ACRNX has been a top rated five star fund, by Morningstar. for the vast majority of time since 1986, if not the entire time, with lower than average risk, low turnover, and superior returns. If you want something like an automated fundamental analysis that I believe you can modify to your taste and Wagner's approach - check out American Individual Investors ( [...] ) and order the stock screening program - it has a stock screening program that attempts to put Wagner's approach and about 30 other expert's selection method into a software program and database for screening stocks. Wagner does indeed attempt to discourage investors from investing perhaps their entire stock portfolio in individual stocks; since, most people do not have the resources or time to do it his way, visiting companies, plant inspections, listen in on corporate meetings/media events, going to the trade shows - classical intelligence work. A critical part of his method - one will never get the best intelligence by satellite alone - that probably will never happen. The additional piece of information that critical - he states that up to 50%of ones stock investments should be in overseas stocks and that was in 1997 - which makes the on the ground intelligence gathering for the vast majority of individual investors near impossible. Then there is the desk work - research of annual reports, SEC filing, etc - Fundamental Analysis. But, Wagner was starting to phase out and going into consulting/semi retirement for Liberty when the Internet was starting coming up to speed or mature a bit - which make it easier for the individual investor. I was slightly surprised that Wagner used options on the S&P index. I plan on at least loaning my copy of this book to my niece, for graduation she recieve a subsription to AAII. I doubt even Wagner would advise some one to buy ACRNX today if they had to pay a load. Nor advise anyone to pay front end or back end load on the purchase of the shares of any Mutual Fund. There just are too many good to excellent funds with good to excellent mutual fund managers that do not have front end or back end loads.
Summary of Zebra In Lion Country: The Dean Of Small Cap Stocks Explains How To Invest In Small Rapidly Growin The renowned, iconoclastic head of the Acorn Fund shares his profit-maximizing, risk-minimizing investment advice in a book as irreverent as it is smart. When USA Today asked a group of prominent professional portfolio managers whom they would choose to manage their personal wealth, the person most often cited was Ralph Wanger (Warren Buffett came in second). Hailed by both Newsweek and U.S. News & World Report as the "dean" of small-cap investing, Ralph Wanger explains the principles of investing in small, rapidly growing companies whose stocks will yield well-above-average returns. Investors are like zebras in lion country: They must settle for meager pickings by sticking in the middle of the herd, or seek richer rewards at the outer edge, where hungry lions lurk. Wanger shows investors -- whether they are investing in mutual funds or buying stocks on their own -- how to achieve the right balance of safety and risk to survive and prosper in the investment jungle. Destined to become a classic in the field of investing, A Zebra in Lion Country is as entertaining as it is instructive.
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