Where The Money Is: Value Investing In The Digital Age book pdf download for free or read online, also Where The Money Is: Value Investing In The Digital Age pdf was written by Adam Seessel.
Adam Seessel graduated summa cum laude from Dartmouth College and began his career as a newspaper reporter in North Carolina. Seessel won the 1990 George Polk Award for environmental reporting, and in 1995 Seessel brought his investigative skills to Wall Street. He worked for Sanford C. Bernstein, Baron Capital and Davis Selected Advisers before founding his own firm, Gravity Capital Management, which manages money for high net worth individuals and institutions.
Since he tracked stock market performance at Davis Funds in the mid-2000s, Seessel has outperformed the S&P 500 index in fees. In addition to directing Gravity, Seessel is a regular contributor to Barron’s and Fortune magazines. Married with an adult son who works as a software developer, Seessel and his wife, an artist, live in Manhattan.
|Where The Money Is: Value Investing In The Digital Age
Where The Money Is: Value Investing In The Digital Age Book PDF download for free
Technological change is transforming the economy in ways not seen since Henry Ford introduced the assembly line. Just over a decade ago, only two of the ten most valuable public companies in the world were digital companies; today there are eight of the top ten. Investors around the world are struggling to understand the digital age and how to use the stock market to benefit from it.
Author Adam Seesel understands. A few years ago, he watched his old-school portfolio, based on traditional value investing principles, shrink as the market, fueled by “expensive” tech stocks, rallied. Determined to reverse course, he set out in search of a new value investing paradigm that would stay true to the discipline Ben Graham gave us a century ago and reflect the new realities of the digital age.
In Where the Money Is, Seessel presents an updated value-based framework that any investor, professional or amateur, can use to beat the modern market. Like all industries, the technology sector follows certain rules. We can study these rules, understand them and invest accordingly. The world is changing and we can benefit from it.
Approaching technology in this way, the current changes in the economy and the rapid rise in tech stocks are not reasons to be scared or clueless, they are reasons to be excited. Filled with the same kind of optimism and common sense that inspired Benjamin Graham’s The Intelligent Investor and Peter Lynch’s One Up on Wall Street, Where the Money Is, they usher in a new era in modern value investing.
Where The Money Is: Value Investing In The Digital Age Book Pdf Download
A very good investment book that explains the evolution of investment thinking required to successfully move from Benjamin Graham to Warren Buffett into the digital age of the Internet! Fully readable with helpful examples (not necessarily actual recommendations) in the vein of Peter Lynch’s famous books. Essential reading for anyone struggling with the concepts of growth and value in investing and how to balance them. Recommended for beginners, experts, hobbyists and professionals alike. You will be a better investor by reading this.
This is a good book for value-minded people who aren’t sure how to navigate the changing landscape driven by technology companies. The key accounting takeaway here is that modern accounting distorts the profitability of technology companies by requiring the immediate issuance of R&D and S&M expenses, which is unusual given the long-term profile/time horizon of these expenses. Adam is a good writer, he is clearly very smart and I think he provides a useful push for “value” investors to start thinking about the technology sector. I think the public would benefit from a little more technical advice in assessing the financials of tech companies and their earning power, but this is a great start.
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