New Era Value Investing: A Disciplined Approach to Buying Value and Growth Stocks

Customer Reviews

Ostensibly, the heart of Tengler's book is the use of relative dividend yield or relative price to sales ratio (relative to a stock's prior trading history). However, the most useful portion of her method concerns her thoughtful use of a checklist/scoring system to help avoid "value traps" --purchasing stocks with dividend yields which are high for good reason, for example. The described scoring system is at once disciplined and somewhat flexible, two key attributes to wade through a crowded, value-driven market.

The book is exceptionally clear and concise in terms of the general methodology offered by the author. However, the scoring system as modified by Tengler for assessment of bank stocks should have been more clearly defined by way of example, especially since banks are such a large part of the relative dividend investment universe. This is a small quibble as compared to the useful general approach given to the reader.

The best value investment literature offers both a general way to recognize value and practical means to find it. The approach offered here is somewhat novel, very useful, and well-described. The book is one of the more useful works to appear in value investment literature over the past several years, and even if the reader chooses not to embrace the entire approach, he or she will probably find a few useful ideas to discern value.

Other than that, the book is fine!

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