Special Edition Investing for Growth: How to make money by only buying the best companies in the world – An anthology of investment writing, 2010–20 with Free EASY Reading Download Now!

 4,5

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Special Edition Investing for Growth: How to make money by only buying the best companies in the world – An anthology of investment writing, 2010–20 with Free EASY Reading Download Now!

Buy good companies. Don’t overpay. Do nothing. Some people love to make successful investing seem more complicated than it really is. In this anthology of essays and letters written between 2010–20, leading fund manager Terry Smith delights in debunking the many myths of investing – and making the case for simply buying the best companies in the world. These are businesses that generate serious amounts of cash and know what to do with it. The result is a powerful compounding of returns that is almost impossible to beat. Even better, they aren’t going anywhere. Most have survived the Great Depression and two world wars. With his trademark razor-sharp wit, Smith not only reveals what these high-quality companies really look like and where to find them (as well as how to discover impostors), but also:-why you should avoid companies that abuse the English language-how most share buybacks actually destroy value-what investors can learn from the Tour de France-why ETFs are much riskier than most realise-how ESG investors often end up with investments that are far from green or ethical-his ten golden rules for investment-and much, much more.Backed up by the analytical rigour that made his name with the cult classic, Accounting for Growth (1992), the result is a hugely enjoyable and eye-opening tour through some of the most important topics in the world of investing – as well as a treasure trove of practical insights on how to make your money work for you. No investor’s bookshelf is complete without it.

At this time of writing, The Ebook Investing for Growth: How to make money by only buying the best companies in the world – An anthology of investment writing, 2010–20 has garnered 9 customer reviews with rating of 5 out of 5 stars. Not a bad score at all as if you round it off, it’s actually a perfect TEN already. From the looks of that rating, we can say the Ebook is Good TO READ!

Special Edition Investing for Growth: How to make money by only buying the best companies in the world – An anthology of investment writing, 2010–20 with Free EASY Reading!

Smith is a buy and hold investor, buying great companies (with very high returns on invested capital) for a reasonable price and then holding (almost) forever. Like Charles Munger he believes that an investor's returns over long periods on a stock are tied to the stock's return on capital, not so much on price paid. He has certainly been successful with it. But for any investor, new or experienced, the book offers a different and valuable way at looking at investing, even if the reader does it differently. The first example is on p. XIX with a graph showing what PE ratio someone could have paid for different companies while still getting a 7 % annual return over the next 46 years (1973 to 2019): over 100 times earnings for Pepsico, Heineken, Colgate, Hershey, Lindt and L'Oreal. "What investors can learn from Alex Bird's 500 winning bets at the races" is a great illustration of why financial analysis is valuable and required. Another chapter questions the value of investing in a company with a great CEO (Jack Welch for example); the success might be illusory or temporary, and the successor is unlikely to live up to the predecessor. The contents are taken from articles and annual shareholders' letters written over 9 years so there's some repetition. But overall it's a worthwhile read for any investor.

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