Invest Like A Pro
The Blueprint for Creating High-Performing Portfolios
The Theory of Investment Value
Understand investors and speculators
Understand the principles of value investing
Have a margin of safety
Understand what it takes to invest
Apply behavioral finance principles
Follow best practices
Prepare to invest
Pick a winner
Adopt a long-term view
Apply the magic formula
Find the right companies
Be patient
Mohnish Pabrai and John Templeton
Marks Graham Eveillard Buffet Kahn McLennan Greenblatt
Danof Sleep Zakaria Vinik Lountzis Geritz Munger
Thorp Karp Miller Van Den Berg
Extract the key takeaways
Invest in yourself
Adopt a structured approach to investing
Keep an investor’s checklist
Look for the right businesses
Identify growth opportunities
Focus on the long-term
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Mistake #1: OVERLY OPTIMISTIC REVENUE FORECASTS
Mistake #2: UNDERESTIMATING EXPENSES CAUSING UNREALISTIC PROFIT
Mistake #3: GROWING FIXED ASSETS SLOWER THAN REVENUE
Mistake #4: CONFUSING GROWTH CAPEX WITH MAINTENANCE CAPEX
Mistake #5: FORECASTING DRASTIC CHANGES IN THE CASH CONVERSION CYCLE
Mistake #6: UNDERESTIMATING WORKING CAPITAL INVESTMENT
Mistake #7: VALUING A STOCK USING THE CALCULATED BETA
Mistake #8: CHOOSING AN UNREASONABLE COST OF EQUITY
Mistake #9: NOT PROPERLY FADING RETURN ON INVESTED CAPITAL
Test what you have learned
Valuation Master Class Boot Camp Origin Story
Data availability and manipulation
An investment framework forces discipline
Quantamental - The quantitative aspect
Quantamental - The fundamental aspect
Concentrated portfolio
Preserve capital