"Invest Like the Best"

Paper Summary:

The paper analyzes the book, "Invest Like the Best" by James O'Shaughnessy and discusses its strengths and weaknesses. The paper notes that the purpose of the book is to assist investors in evaluating investment strategies, thereby helping them to construct portfolios in the same manner as professional portfolio managers. The paper comments that the book hopes to give its readers the ability to balance the risk and growth potential of any stock, mutual fund or strategy, in order to build the most effective portfolio possible. The paper notes that the value of the book is that, unlike other publications, it provides the specific tools and guidance needed for practical application.

From the Paper:

"I would recommend this book only for the novice investor who needs to gain a basic understanding of how portfolios are developed. The hands-on nature of the book lends itself to an investor who is at least a little bit intimidated by the task of creating a portfolio. I would also argue that the book is only truly appropriate for the investor who can afford to create a diversified portfolio, since that is what the book teaches. Many investors cannot build a diversified portfolio at a reasonable price net of transaction costs."

Sample of Sources Used:

• O'Shaughnessy, James. (1994). Invest Like the Best. McGraw-Hill, New York.

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