{"product_id":"active-value-investing","title":"Active Value Investing","description":"\u003cp\u003e\"The new Benjamin Graham is Vitaliy N. Katsenelson. I highly recommend Katsenelson's book, \u003ci\u003eActive Value Investing: Making Money in Range-Bound Markets\u003c\/i\u003e. I like to think old Ben Graham would have recommended it, too.\" \u003cb\u003e\u003ci\u003e—Forbes\u003c\/i\u003e\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\u003cb\u003eActive Value Investing\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003eFor the next dozen years or so, the U.S. stock market will be a wild roller-coaster ride—setting all-time highs and multi-year lows in the process. While the twists and turns of this ride are still to be written by history, the long-term, sideways \"range-bound\" trajectory has already been set by the eighteen-year bull market that ended in 2000. When the dust settles, only those who adapted their investment strategies to this range-bound market will have captured any meaningful profits. \t \u003c\/p\u003e\u003cp\u003eNobody understands this situation better than author, educator, and respected investment manager Vitaliy Katsenelson. And now, with \u003ci\u003eActive Value Investing,\u003c\/i\u003e he'll reveal how to achieve unparalleled success in these conditions by taking traditionally profitable and fundamentally driven strategies—developed during the eighteen-year bull market—and modifying them for use in range-bound markets. \t \u003c\/p\u003e\u003cp\u003eThis is not just another value investing book. It is a practical guide that contains innovative insights and timely techniques that will improve your investment endeavors during a time when others will be paying with their returns, and with lost time, for the valuation excesses of prior bull markets. \t \u003c\/p\u003e\u003cp\u003eIn the first part of the book, Katsenelson examines the historical performance of U.S. markets over the past two centuries and discusses what has caused prolonged bull, bear, and range-bound markets. He then looks at the emotions that have dominated each of these markets, why there is a high probability that a range-bound market has descended on us, and what you can do to forecast how long this market will last. \t \u003c\/p\u003e\u003cp\u003ePart Two of \u003ci\u003eActive Value Investing\u003c\/i\u003e addresses practical application of this concept. Here you'll become familiar with performing proper stock analysis—from identifying what constitutes a good company to determining the stock \t \u003c\/p\u003e\u003cp\u003eprice at which these companies become worth owning—and implementing an active investing strategy during range- bound markets. You'll also be introduced to the Quality, Valuation, and Growth (QVG) framework, which lies at the core of this approach. Rounding out this section are detailed discussions of the buy\/sell process as well as complete coverage of important risk and diversification issues. \t \u003c\/p\u003e\u003cp\u003eRange-bound markets may be difficult to invest in, but with \u003ci\u003eActive Value Investing\u003c\/i\u003e as your guide, you'll quickly learn how to squeeze real profits out of a difficult market full of exhilarating highs and surprising lows.\u003c\/p\u003e","brand":"Vitaliy N. Katsenelson","offers":[{"title":"Default Title","offer_id":42849528709181,"sku":"9780470053157","price":86.36,"currency_code":"AUD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0597\/7689\/2989\/files\/9780470053157_55fc2ba9-33ad-41e3-a610-54ec3fe10746.jpg?v=1767036262","url":"https:\/\/www.palmleaf.com.au\/products\/active-value-investing","provider":"Palmleaf","version":"1.0","type":"link"}