Finally, we use these tools in Chapter 4 to show how to think about a security’s intrinsic value. Search for your book and save it on your Kindle device, PC, phones or tablets. Download The Singing Neanderthals PDF full book. Access full book title The Singing Neanderthals by Steven Mithen. Access full book title Perfect Pitch by Nicolas Slonimsky. Download Pitch the Perfect Investment PDF full book.

• After going through 170 pages of this crap, you realize that a basic DCF model with sensitivity analysis will provide more value to you than the first half of this book.
• “My decades of experience have taught me that pitching is a vital skill one must master to succeed on Wall Street. Sonkin and Johnson’s book gives someone new to the industry a significant head???start in obtaining this skill.”
• Money managers, analysts, bankers, executives, salespeople, students, and individual investors alike stand to gain massively by employing the techniques discussed here.
• A professional “pitching coach” for one of the world’s largest marketing conglomerates, Jon Steel shares his secrets and explains how you can create presentations and pitches that win hearts, minds, and new business.
• The single most important element in survival is having knowledge, as knowledge dispels fear, and on Wall Street, fortune favors the prepared mind.

The authors have a youtube video for the CFA New York Society where they talked about writing this book in a lecture they give on pitching the perfect investment. The book itself is far from what they originally set out to create. The book is a result of combined years of professional investing and teaching experience.

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Equips the Chief Investment Officer or Director of Research with new tools, enabling them to tighten their analytical process and significantly improve communication and efficiency throughout their organization. Whether you work at a money management firm, hedge fund, investment bank, or private equity firm, the ability to pitch a compelling investment idea determines not only your bonus, but your success on Wall Street. If you don’t have a great investment idea, there is nothing to pitch.

These old farts continue on their ramblings to speak about behavioural finance as if they are an authority on the matter. They just regurgitate the work of others, in a less comprehensive and less meaningful manner by relying on a plethora of anecdotes as a primary mechanism to communicate concepts. By the end of Part I we will have shown how to vet the perfect investment.

This discussion is alone worth 10 times the price of the book for value investors who take advantage of irrational investor behavior. They clearly articulate how to look at valuation and how to determine if the stock is truly inefficiently priced and if yes then what are the reasons. They have given circumstances in which a stock can gets mispriced. Every investor needs to check if any one of these situation truly exists in his idea.

How to use the Pitch Perfect story tactic

To determine if a genuine mispricing exists, we need to define the conditions under which a stock will be efficiently priced, which requires a detailed discussion of market efficiency. We begin in Chapter 5 with an explanation of Eugene Fama’s efficient market hypothesis, which we show are the rules the market follows to set prices. We then discuss the wisdom of crowds in Chapter 6 and show it as the mechanism that implements the rules in https://forexarena.net/ the market. We then explore behavioral finance in Chapter 7 and show how the rules can become strained or broken when a systematic error skews the crowd’s view. Literally think this is the only book on investing you’ll ever need (especially if you’re considering a career on the buy-side). The chapters about EMH, variant perception, thinking about consensus and how to structure the pitch are probably worth the price of the book itself.

The authors first start off with a look at how to value stocks. They use highly theoretical examples which have no bearing on reality. It all sounds super cool and genius until you get to the end and realize that its all absurdity which is extremely difficult to implement in real life. Then the authors undermine their own concepts in valuation by subsequently presenting the idea of uncertainty. After going through 170 pages of this crap, you realize that a basic DCF model with sensitivity analysis will provide more value to you than the first half of this book. If you’ve had any academic exposure to finance in the last decade this book will be completely useless with the exception of a few items.

Survival instincts and incentive pay are in direct conflict to objectivity and independence; which do you think you will choose when you have a mortgage to pay and a family to feed? Even with an entire chapter on behavioural finance, the authors don’t address this at all, they are too busy writing hyper-theoretical papers for the CFAI anyhow. Reality is harsh, and Wall St. is about taking money from your pocket and putting it into the PM’s pocket. Just ask all the PM’s who under perform their own self-selected benchmarks, but still get paid a management fee. Getting paid to manage an under performing fund… The goal in Part I of the book is to show how to identify the perfect investment, which we explain is one where a stock has been mispriced.

What causes people to become so excited about a product that they can? How can an idea be communicated so that it catches fire in people? Popular author, consultant, and workshop leader Sam Horn identifies what makes an idea, message, or product break out, and presents a simple and proven process?

Product information

This anecdotal ‘teaching’ is a real problem throughout the book, as the authors are just filling pages to make the book longer. The entirety of the information could be highly condensed such that the reader would not waste their time digging for meaning through idealized hypotheticals. “My decades of experience have taught me that pitching is a vital skill one must master to succeed on Wall Street. Sonkin and Johnson’s book gives someone new to the industry a significant head???start in obtaining this skill.” Why do some ideas break out and others fade away?

In Chapter 9 we show that risk and uncertainty are not the same thing and that the difference is often misunderstood. We then discuss the three components of investment return—the price you pay, your estimate of intrinsic value, and the estimated time horizon. It is the authors’ experience that most investors spend the bulk of their time focusing on calculating their estimate of intrinsic value, pitch the perfect investment while failing to estimate accurately an investment’s time horizon. We feel this focus is a mistake as time is a critical factor in determining the investment’s ultimate return. We then move the discussion to how through research an investor can significantly reduce risk by increasing the accuracy and precision of both the estimates of intrinsic value and the investment’s time horizon.

About the Author

This presentation knowledge will help them articulate their ideas to others. What really enticed me to grind through the ramblings of the authors was the next chapters on selecting a security and pitching the perfect investment (yes! finally there are a few pages on the subject implied by the title of the book). Now remember how the authors were talking about being independent and thinking for yourself…

So this is an opportunity for you to take that course at far less cost. The authors give a framework on how to analyze the ideas and how to conduct due diligence. This framework will force you to be honest with yourself and evaluate objectively if the opportunity is really a genuine opportunity or a value trap. Their is lot of discussion on how one should preset his ideas. But also for individual investors in order to put their investing rationale in an objective manner. Many investors are members of investor groups and they often discuss their ideas in the groups.

One of the best beginner textbooks on investing I have read. First time to read a formal book related to investment. This book explained various theories regarding investment, and gave a concise framework for anyone wishing to recommend securities. Very suitable for a beginner in investment to understand how everything should works. Despite the basic feel of the content from most of the book, I still commend it by the very clear and simple explanations it gives on a wide range of topics.

The single most important element in survival is having knowledge, as knowledge dispels fear, and on Wall Street, fortune favors the prepared mind. Pitch the Perfect Investment accelerates the learning process, giving the college or MBA student the edge they need to succeed, whether they are pitching a stock idea in a job interview, in a stock pitch competition, or for a student-run investment fund. Accelerates the learning process, giving the college or MBA student the edge they need to succeed, whether they are pitching a stock idea in a job interview, in a stock pitch competition, or for a student-run investment fund. Money managers, analysts, bankers, executives, salespeople, students, and individual investors alike stand to gain massively by employing the techniques discussed here. The authors are veteran fund managers and Columbia Uni professors teaching the same topic. This book is the exposition of hat they really teach in their course.

Learn the overlooked skill that is essential to Wall Street success Pitch the Perfect Investment combines investment analysis with persuasion and sales to teach you the “soft skill” so crucial to success in the financial markets. Written by the leading authorities in investment pitching, this book shows you how to develop and exploit the essential, career-advancing skill of pitching value-creating ideas to win over clients and investors. The ability to effectively pitch an investment is essential to securing a job on Wall Street, where it immediately becomes a fundamental part of day-to-day business. This book gives you in-depth training along with access to complete online ancillaries and case studies so you can master the little skill that makes a big difference. It doesn’t matter how great your investment ideas are if you can’t convince anyone to actually invest. Ideas must come to fruition to be truly great, and this book gives you the tools and understanding you need to get it done.

Keep in mind that on Wall St. it doesn’t matter if you are a good analyst in the absolute sense; what matters is if you are a good analyst in the eyes of your PMs. So you’re going to do what it is you need to do to keep your job; which in the vast majority of cases means you can ignore the notion of finding alpha. No other single resource will provide students, money managers, analysts, bankers, executives, salespeople, and individual investors with a faster way to improve their performance. Pitch the Perfect Investment is the essential guide to winning on Wall Street.