John Neff on Investing

Submitted by Book Library on 3 June, 2010 - 14:44

Praise for JOHN NEFF on investing "This book offers important insights into the methods and long–term rewards of ′value′ investing. The serious investor will not want to miss this clear exposition of the successful Neff technique."–BURTON G. MALKIEL, Author of A Random Walk Down Wall Street "A must read for anyone who is serious about investing. "JOHN REED, Chairman and Co CEO, Citigroup Inc. During his thirty one years as portfolio manager of Vanguard’s Windsor and Gemini Funds, John Neff beat the market twenty–two times while posting a fifty seven fold increase in an initial stake making Windsor the largest mutual fund in the United States in the process.

Now, the "investor′s investor" is ready to share the strategies that earned him international recognition. He delineates, for the first time, the principles of his phenomenally successful low p/e approach to investing, and describes the strategies, techniques, and decisions that earned him a place alongside Warren Buffett and Peter Lynch in the pantheon of modern investment wizards. Packed with advice, guidance, and invaluable lessons in investing, John Neff on Investing reveals for the first time the long–heralded investment strategies of a Wall Street genius.

Positive Review of Book

This book is prefect for an individual investor who wants to learn about value investing. Most of the book is a history of the Authors experience managing the Windsor Fund.
It is good to see the historical perspective and how sticking to buying low P/E stocks has paid off. In his history he talks about getting in and out of oil stocks as the PE changes due to shifting investor sentiment. It is encouraging to see that sticking to this strategy can be successful. The book gives me confidence to stick with the current low PE stocks such as airlines, automotives, retailers, and home builders.

Negative Review of Book

Not much insight here. If you enjoy the history of a professional's stock picks, fine......Read it. But otherwise very boring and lacking in explaining Neff's techniques of investment analysis.

Author Biography

JOHN NEFF, until his retirement in 1995, was Senior Vice President and Managing Partner of the Wellington Management Company, the Windsor Fund′s investment adviser. S. L. MINTZ is New York Bureau Chief of CFO magazine, a publication of the Economist Group dedicated to the latest financial thinking and how it is being implemented in today′s markets. His other books include Beyond Wall Street (Wiley) and Five Eminent Contrarians.

Table of Contents

  • Preface.
  • Prologue: Citi Saga.
  • Journey East.
  • Grubbing It Out.
  • Basic Training.
  • Banker's Hours.
  • Baptism by Fire.
  • Taking Command at Windsor.
  • Elements of Style.
  • The Bargain Basement.
  • Care and Maintenance of a Low P/E Portfolio.
  • The Silly Season.
  • Four Yards and a Cloud of Dust.
  • The Right Stuff.
  • Good Guys Persevere.
  • Déjà Vu.
  • Epilogue: Rivers and Markets.

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