The simple explanation below is my three favorite book reviews in 2024. Advanced investor。 Throughout the year, our review team members share their expertise and experience in the CFA charter holders that provide useful insights, concepts, and technology in their work. Here, the three books I emphasize are outstanding the applicability to the actual problem faced by the decisive determination of the investment.
Since 1989, the first Financial analyst journal For Advanced investor。 Writing some reviews was a valuable element of my lifelong learning while cooperating with other team members. In addition, it is rewarding to help a fellow charter holder to improve the knowledge and skills necessary for the highest level of performance.
M & A Disability Trap: Reasons for most merger and acquisition failure and a small number of successes. BARUCH LEV and FENG GU.
The 70 % to 75 % M & A failure found by the author accurately shouts the strict quantitative brand of success or opposition. The particularly valuable investigation of managers, which continues to lead to fate transactions. LEV and GU have been able to read their severe data -driven analysis with both colorful prose and victory and losing transactions.
Ownership dividend: Future paradigm shift in the US stock market. Daniel Peris.
It is important for practitioners to read works that challenge conventional wisdom Ownership dividend Certainly it conforms to the bill. Pellis's strongly supported alternative story is a function of specific historical situations in the past few decades, and the pendulum has returned to a more traditional focus on current income. It is particularly interesting to say that Modigliani and Miller's unrelated theory is not common in all times, but is tied to the period.
Chaos market: History of market crisis around the world. Brendan Hughes.
Despite Hegel's maxim, it is generally rendering that “we learn what we have not learned from history from history”, but investment experts are really games by studying past market cycles. Can be raised. The fuse dates back to the 18th century in a financial crisis survey. However, he brings their lessons to investment decisions, including such heavy modern problems, such as technical issues against incumbent financial institutions and disability when trying to correct financial imbalance. 。
2025 Sneak preview
Please see the review in 2025 Buffett Initial Investment: 10 -year Survey of Warren Buffett's best returnBrett Gardner. The energy and creativity in Omaha's first victory orbital provide guidance and inspiration for those who seek opportunities for more than half a century.
Also, please take the eyes of next year Advanced investorRepeat Creating modern corporate finance: The history of ideas and how they help build the national wealthDonald H. Chu, JR. The theory discussed in this book is the staple food of the CFA curriculum, but Chu draws extra important aspects. performance. After reading this book, the practitioner not only regards a corporate finance passbreaker as a brilliant textbook, but also feels with them.
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All posts are the author's opinion. Therefore, they should not be interpreted as an investment advice, and the statements that are expressed do not inevitably reflect the viewers of the CFA Research Institute or the author's employer.
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