Do you have any suggested reading materials?

If you are interested in learning more about the investment approach we use, you may find the following books useful:

Common Stocks and Uncommon Profits by Philip A. Fisher (John Wiley & Sons)
Philip Fisher became a securities analyst in 1928 and made his name by espousing the importance of extensive research and owning only a few growth companies. This book has become an investment classic, as Fisher’s techniques enable one to make intelligent investment decisions.

Security Analysis by Benjamin Graham and David Dodd Cottle (McGraw-Hill)
This is what we consider the ultimate textbook on investing, though it is admittedly a very heavy read. This book provides the tools to analyse the inherent value of a business. At 700 pages, it is a lengthy but invaluable guide for analyzing financial statements.

One Up on Wall Street by Peter Lynch with John Rothchild (Simon & Shuster)
This folksy but wise book was written by the very successful manager of the Fidelity Magellan Fund, and is full of practical advice. Peter Lynch had hundreds of stocks in his portfolio, while Phil Fisher had only a few, yet both were successful. Perhaps Warren Buffett is correct when he states that “each investor needs to paint his own canvas”. The principles these great investors use are much the same; the difference is in their application.

The Essays of Warren Buffett: Lessons for Corporate America by Warren Buffett and Lawrence Cunningham (The Cunningham Group) 
This book organizes Warren Buffett’s investment views thematically. If you do not have the time or the inclination to read the last twenty years’ worth of Berkshire Hathaway annual reports, this book is an excellent alternative.

The Intelligent Investor: The Definitive Book on Value Investing by Benjamin Graham (Harper Business) 
Warren Buffett has said that he rereads Chapter 20 of this book (called “Margin of Safety”) annually, because it is the central concept of investing to him. After reading Graham’s biography and discovering that from 1929 to 1932 the cumulative losses for his partnership were 70 percent, it is understandable that Margin of Safety is the cornerstone of his own approach as well. This makes The Intelligent Investor a must-read book.

Buffett: The Making of an American Capitalist by Roger Lowenstein (Main Street Books) 
This is the definitive biography of Warren Buffett, one of the greatest investors of all time. It tells the tale of this legendary mid-American who turned $10,000 in 1956 into $350 million today.

Value Investing: A Balanced Approach by Marty Whitman (Wiley)

John Neff on Investing by John Neff (John Wiley & Sons)

Beating the Street by Peter Lynch (Simon & Schuster)

Margin of Safety by Seth Klarman (HarperBusiness)

The Warren Buffett Way: Investment Strategies of the World’s Greatest Investor by Robert G. Hagstrom (Wiley)

Contrarian Investment Strategies: The Next Generation by David Dreman (Simon & Schuster)

The Little Book of Value Investing by Christopher Browne (Wiley)

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The information on this web site is provided by Evans Investment Counsel to help individuals, families and business owners understand what we do to protect and grow their invested assets. We attempt to keep information on this web site accurate and current.

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