You will learn, for example, that millionaires bargain shop for used cars, pay a tiny fraction of their wealth in income tax, raise children who are often unaware of their family's wealth until they are adults, and, above all, reject the big-spending lifestyles most of us associate with rich people. The Millionaire Next Door identifies seven common traits that show up again and again among those who have accumulated wealth. Wealth in America is more often the result of hard work, diligent savings, and living below your means than it is about inheritance, advance degrees, and even intelligence. According to the authors, most people have it all wrong about how you become wealthy in America. For nearly two decades the answer has been found in the bestselling The Millionaire Next Door: The Surprising Secrets of America's Wealthy, reissued with a new foreword for the twenty-first century. Often they are hard-working, well educated middle- to high-income people. Any investor who adopts the framework is bound to improve on results and soundly beat the markets and most professionals.-Why aren't I as wealthy as I should be?- Many people ask this question of themselves all the time.
Using a light, entertaining style, Pabrai lays out the Dhandho framework in an easy–to–use format.
Readers will be introduced to important value investing concepts such as "Heads, I win! Tails, I don′t lose that much!," "Few Bets, Big Bets, Infrequent Bets," Abhimanyu′s dilemma, and a detailed treatise on using the Kelly Formula to invest in undervalued stocks. The Dhandho method expands on the groundbreaking principles of value investing expounded by Benjamin Graham, Warren Buffett, and Charlie Munger. Written with the intelligent individual investor in mind, this comprehensive guide distills the Dhandho capital allocation framework of the business savvy Patels from India and presents how they can be applied successfully to the stock market.
A comprehensive value investing framework for the individual investor In a straightforward and accessible manner, The Dhandho Investor lays out the powerful framework of value investing.
0 kommentar(er)
