Since its first publication, Michael J. Mauboussin's popular guide to wise investing has been translated into eight languages and has been named best business book by BusinessWeek and best economics book by Strategy+Business. Now updated to reflect current research and expanded to include new chapters on investment philosophy, psychology, and strategy and science as they pertain to money management, this volume is more than ever the best chance to know more than the avera...

Most investment books try to assess the attractiveness of a stock price by estimating the value of the company. Expectations Investing provides a powerful and insightful alternative to identifying gaps between price and value.Michael J. Mauboussin and Alfred Rappaport suggest that an investor start with a known quantity, the stock price, and ask what it implies for future financial results. After showing how to read expectations, Mauboussin and Rappaport provide a guide to...

Much of what we experience in life results from a combination of skill and luck.” - From the IntroductionThe trick, of course, is figuring out just how many of our successes (and failures) can be attributed to each-and how we can learn to tell the difference ahead of time.In most domains of life, skill and luck seem hopelessly entangled. Different levels of skill and varying degrees of good and bad luck are the realities that shape our li...

Renowned investment strategist Michael J. Mauboussin reveals the 10 most important attributes of successful investors.Michael Mauboussin has spent 40 years on Wall Street and more than three decades teaching investment analysis at Columbia Business School. In that time, he has met, worked with, taught and studied many great investors.Now, for the first time, he brings that wealth of experience together and answers the question: What are the qualities that l...

High Performing Investment Teams"Although most leaders agree teamwork is important, few businesses effectively build collaborative, synchronized teams. High Performing Investment Teams is an excellent guidepost for any manager striving to create a winning team and develop bench strength for the future."—John W. Rogers Jr., Chairman and Chief Executive Officer, Ariel Capital Management, LLC"Turning individual talent ...

“Much of what we experience in life results from a combination of skill and luck.” — From the IntroductionThe trick, of course, is figuring out just how many of our successes (and failures) can be attributed to each—and how we can learn to tell the difference ahead of time.In most domains of life, skill and luck seem hopelessly entangled. Different levels of skill and varying degrees of good and bad luck are the realities that shape our lives—yet few of us are adept at accu...

How to Stop Yourself Before You Make Another Costly DecisionNo one intentionally makes bad decisions. Yet we make them all the time. In fact, some of the worst disasters in recent history—the collapse of major investment banks, the global financial meltdown—were the result of seemingly reasonable decisions made by a lot of smart people. How does this happen?Michael J. Mauboussin argues that the correct process for deciding well—especially when the stakes are high—conflicts ...

No matter your field, industry, or specialty, as a leader you make a series of crucial decisions every single day. And the harsh truth is that the majority of decisions—no matter how good the intentions behind them—are mismanaged, resulting in a huge toll on organizations, the people they employ, and even the people they serve.So why is it so hard to make sound decisions? In Think Twice, now in paperback, Michael Mauboussin argues that we often fall victim to simplified me...