The Education of a Value Investor
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The Education of a Value Investor : My Transformative Quest for Wealth, Wisdom, and Enlightenment

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What happens when a young Wall Street investment banker spends a small fortune to have lunch with Warren Buffett? He becomes a real value investor. In this fascinating inside story, Guy Spier details his career from Harvard MBA to hedge fund manager. But the path was not so straightforward. Spier reveals his transformation from a Gordon Gekko wannabe, driven by greed, to a sophisticated investor who enjoys success without selling his soul to the highest bidder. Spier's journey is similar to the thousands that flock to Wall Street every year with their shiny new diplomas, aiming to be King of Wall Street. Yet what Guy realized just in the nick of time was that the King really lived 1,500 miles away in Omaha, Nebraska. Spier determinedly set out to create a new career in his own way. Along the way he learned some powerful lessons which include: why the right mentors and partners are critical to long term success on Wall Street; why a topnotch education can sometimes get in the way of your success; that real learning doesn't begin until you are on your own; and how the best lessons from Warren Buffett have less to do with investing and more to do with being true to yourself. Spier also reveals some of his own winning investment strategies, detailing deals that were winners but also what he learned from deals that went south. Part memoir, part Wall Street advice, and part how-to, Guy Spier takes readers on a ride through Wall Street but more importantly provides those that want to take a different path with the insight, guidance, and inspiration they need to carve out their own definition of success.show more

Product details

  • Hardback | 224 pages
  • 156 x 236 x 24mm | 399.99g
  • Palgrave MacMillan
  • Basingstoke, United Kingdom
  • English
  • 5-10 images throughout
  • 1137278811
  • 9781137278814
  • 98,958

About Guy Spier

Guy Spier has run Aquamarine Fund for the last 14 years. An ardent disciple of Warren Buffett, Guy launched the fund at $15 million in assets, following a close replication of the original Buffett partnership rules. Guy received his education at Brasenose College, Oxford and Harvard Business School, and worked at the Forward Studies unit of the European Commission in management consulting and investment banking before starting his fund. A regular commentator on Bloomberg Television, he has appeared on CNN, Fox Business News, and CNBC.show more

Review quote

"[Mr. Spier] is worth listening to. A graduate of Oxford University and Harvard Business School, he runs the Aquamarine Fund ...that has beaten the S&P 500 by an average of 4.9 percentage points annually. He believes that most investors pay attention to the wrong things and allow their minds to get hijacked by bad ideas. Individual investors are constantly being exhorted to try beating Wall Street at its own game of trading like crazy to chase whatever is hot. But why should you bother trying to play a game that even most professional players can't win? Instead, take a page from Mr. Spier's book and play by your own rules. The faster Wall Street runs, the more you should slow down and step back from that madness." --Jason Zweig, The Wall Street Journal"It is rare to find as readable a book on value investing as this one. It is even rarer to find these investing insights wrapped in a set of life lessons that you will find thought provoking, challenging and useful. Pick this book up and you won't put it down...you'll likely be a better person for it!" --Len Schlesinger, Baker Foundation Professor, Harvard Business School"The Education of a Value Investor offers a remarkably cost-effective education for any type of investor. And, oh, the lessons--of the forms of self-transformation, self-transcendence, and self-understanding that lead to investing success--stand to profit any reader, non-investors included." --Robert B. Cialdini, Bestselling Author of Influence"Our industry is extraordinarily competitive, and knowing oneself if a huge advantage. In this wonderful book, Guy allows us to understand his journey of discovering his way. This narrative gives us each the gift of helping us understand ourselves better-- helping us become better investors. I am both inspired and impressed by his example." --Lisa O'Dell Rapuano, founder, Lane Five Capital Management"Famed value investor Guy Spier has managed to write what is both a gripping memoir and a fascinating study of what it takes to succeed in investing and life. A must read!" --John Mihaljevic, CFA, Managing Editor, The Manual of Ideas"The Education of a Value Investor is full of pearls of wisdom that can make you a better investor, and its honesty will inspire and surprise you. It's the best book I've read that shares both highly valuable investing lessons and a fascinating description of the journey from novice to master investor." --Ken Shubin Stein, MD CFA, Heilbrunn Center for Graham and Dodd Investing, Columbia Business School"Highly readable...offers practical tools for everyone" --James Mackintosh, Financial Times"The most interesting investment book this year." --Phil Demuth, Forbes.com [Mr. Spier] is worth listening to. A graduate of Oxford University and Harvard Business School, he runs the Aquamarine Fund ...that has beaten the S&P 500 by an average of 4.9 percentage points annually. He believes that most investors pay attention to the wrong things and allow their minds to get hijacked by bad ideas. Individual investors are constantly being exhorted to try beating Wall Street at its own game of trading like crazy to chase whatever is hot. But why should you bother trying to play a game that even most professional players can't win? Instead, take a page from Mr. Spier's book and play by your own rules. The faster Wall Street runs, the more you should slow down and step back from that madness. Jason Zweig, The Wall Street Journal It is rare to find as readable a book on value investing as this one. It is even rarer to find these investing insights wrapped in a set of life lessons that you will find thought provoking, challenging and useful. Pick this book up and you won't put it down...you'll likely be a better person for it! Len Schlesinger, Baker Foundation Professor, Harvard Business School The Education of a Value Investor offers a remarkably cost-effective education for any type of investor. And, oh, the lessons--of the forms of self-transformation, self-transcendence, and self-understanding that lead to investing success--stand to profit any reader, non-investors included. Robert B. Cialdini, Bestselling Author of Influence Our industry is extraordinarily competitive, and knowing oneself if a huge advantage. In this wonderful book, Guy allows us to understand his journey of discovering his way. This narrative gives us each the gift of helping us understand ourselves better-- helping us become better investors. I am both inspired and impressed by his example. Lisa O'Dell Rapuano, founder, Lane Five Capital Management Famed value investor Guy Spier has managed to write what is both a gripping memoir and a fascinating study of what it takes to succeed in investing and life. A must read! John Mihaljevic, CFA, Managing Editor, The Manual of Ideas The Education of a Value Investor is full of pearls of wisdom that can make you a better investor, and its honesty will inspire and surprise you. It's the best book I've read that shares both highly valuable investing lessons and a fascinating description of the journey from novice to master investor. Ken Shubin Stein, MD CFA, Heilbrunn Center for Graham and Dodd Investing, Columbia Business School Highly readable offers practical tools for everyone James Mackintosh, Financial Times The most interesting investment book this year. Phil Demuth, Forbes.com" [Mr. Spier] is worth listening to. A graduate of Oxford University and Harvard Business School, he runs the Aquamarine Fund ...that has beaten the S&P 500 by an average of 4.9 percentage points annually. He believes that most investors pay attention to the wrong things and allow their minds to get hijacked by bad ideas. Individual investors are constantly being exhorted to try beating Wall Street at its own game of trading like crazy to chase whatever is hot. But why should you bother trying to play a game that even most professional players can't win? Instead, take a page from Mr. Spier's book and play by your own rules. The faster Wall Street runs, the more you should slow down and step back from that madness. "Jason Zweig, The Wall Street Journal" It is rare to find as readable a book on value investing as this one. It is even rarer to find these investing insights wrapped in a set of life lessons that you will find thought provoking, challenging and useful. Pick this book up and you won't put it down...you'll likely be a better person for it! "Len Schlesinger, Baker Foundation Professor, Harvard Business School" "The Education of a Value Investor" offers a remarkably cost-effective education for any type of investor. And, oh, the lessons--of the forms of self-transformation, self-transcendence, and self-understanding that lead to investing success--stand to profit any reader, non-investors included. "Robert B. Cialdini, Bestselling Author of Influence" Our industry is extraordinarily competitive, and knowing oneself if a huge advantage. In this wonderful book, Guy allows us to understand his journey of discovering his way. This narrative gives us each the gift of helping us understand ourselves better-- helping us become better investors. I am both inspired and impressed by his example. "Lisa O'Dell Rapuano, founder, Lane Five Capital Management" Famed value investor Guy Spier has managed to write what is both a gripping memoir and a fascinating study of what it takes to succeed in investing and life. A must read! "John Mihaljevic, CFA, Managing Editor, The Manual of Ideas" "The Education of a Value" Investor is full of pearls of wisdom that can make you a better investor, and its honesty will inspire and surprise you. It's the best book I've read that shares both highly valuable investing lessons and a fascinating description of the journey from novice to master investor. "Ken Shubin Stein, MD CFA, Heilbrunn Center for Graham and Dodd Investing, Columbia Business School" Highly readable offers practical tools for everyone "James Mackintosh, Financial Times" The most interesting investment book this year. "Phil Demuth, Forbes.com"" "[Mr. Spier] is worth listening to. A graduate of Oxford University and Harvard Business School, he runs the Aquamarine Fund ...that has beaten the S&P 500 by an average of 4.9 percentage points annually. He believes that most investors pay attention to the wrong things and allow their minds to get hijacked by bad ideas. Individual investors are constantly being exhorted to try beating Wall Street at its own game of trading like crazy to chase whatever is hot. But why should you bother trying to play a game that even most professional players can't win? Instead, take a page from Mr. Spier's book and play by your own rules. The faster Wall Street runs, the more you should slow down and step back from that madness."--Jason Zweig, "The Wall Street Journal" "It is rare to find as readable a book on value investing as this one. It is even rarer to find these investing insights wrapped in a set of life lessons that you will find thought provoking, challenging and useful. Pick this book up and you won't put it down...you'll likely be a better person for it! --Len Schlesinger, Baker Foundation Professor, Harvard Business School""The Education of a Value Investor" offers a remarkably cost-effective education for any type of investor. And, oh, the lessons--of the forms of self-transformation, self-transcendence, and self-understanding that lead to investing success--stand to profit any reader, non-investors included.""" --Robert B. Cialdini, Bestselling Author of" Influence ""Our industry is extraordinarily competitive, and knowing oneself if a huge advantage. In this wonderful book, Guy allows us to understand his journey of discovering his way. This narrative gives us each the gift of helping us understand ourselves better-- helping us become better investors. I am both inspired and impressed by his example."--Lisa O'Dell Rapuano, founder, Lane Five Capital Management"Famed value investor Guy Spier has managed to write what is both a gripping memoir and a fascinating study of what it takes to succeed in investing and life. A must read!"--John Mihaljevic, CFA, Managing Editor, "The Manual of Ideas"""The Education of a Value" Investor is full of pearls of wisdom that can make you a better investor, and its honesty will inspire and surprise you. It's the best book I've read that shares both highly valuable investing lessons and a fascinating description of the journey from novice to master investor." --Ken Shubin Stein, MD CFA, Heilbrunn Center for Graham and Dodd Investing, Columbia Business School"Highly readable...offers practical tools for everyone"--James Mackintosh, "Financial Times ""The most interesting investment book this year"-Phil Demuth, Forbes.comshow more

Table of contents

Introduction From the Belly of the Beast to Warren Buffet The Perils of an Elite education The Fire Walk: My First Steps as a Value Investor The New York Vortex Meeting a Master Lunch with Warren The Financial Crisis: Into the Void My Own Version of Omaha: Creating the Ideal Environment Learning to Tap Dance: A New Sense of Playfulness Investing Tools: Building a Better Process An Investor's Checklist: Survival Strategies from a Surgeon Doing Business the Buffett-Pabrai Way The Quest for True Valueshow more

Rating details

1,552 ratings
4.17 out of 5 stars
5 44% (678)
4 37% (571)
3 14% (220)
2 4% (67)
1 1% (16)
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