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Title: The Davis Dynasty: 50 Years of Successful Investing on Wall Street by John Rothchild ISBN: 0-471-33178-3 Publisher: Wiley Pub. Date: 03 August, 2001 Format: Hardcover Volumes: 1 List Price(USD): $27.95 |
Average Customer Rating: 4.67 (3 reviews)
Rating: 5
Summary: Combination biography and investment ideas
Comment: I personally don't care for dry investment books. I read for entertainment. This book provides a great combination as it is a biography of a family steeped in money management and also gives tips of how they were able to grow their fortune.
The book traces the investment history of Shelby Davis to his son to his grandsons. Shelby had family money through his wife and starts investing shortly after the crash in '29. Like many people, I assumed the market has been a somewhat continual climb with some setbacks. This books traces the history showing the many periods of lackluster stock value growth and how most Americans shunned the stock market for bonds. Quite a difference from today.
The original Shelby was a miserly value investor who never spent an extra dime. His investment hits were insurance stocks when no one liked that industry and some prudent investments in Japan, also mainly in the insurance industry. By leaving these investments to compound for years, Shelby built a great fortune. But the hidden engine behind this vast growth was the use of margin to leverage his returns. The original Shelby eventually grew his fortune to over a billion dollars in value.
Shelby's son Shelby did not work with his father until late in his life but eventually became a money manager of some renown also. His philosophy was similar but different and his large money winners tended to be from other industries. The book ends with the sons of Shelby Jr. taking over their father's money management firm and establishing their own identity.
Along this 70 year history, you will learn about the markets and the different stages of development over the years. A significant amount of time is spent in the 60s and 70s as both of the Shelby's were investing at that time. I strongly recommend this book if you have interest in the market and its history.
Rating: 5
Summary: Highly Recommended!
Comment: John Rothchild has written a fascinating biography of one of Wall Street's most successful and least-known investors, Shelby Davis, who turned a $50,000 initial investment in 1947 into $900 million, almost exclusively by buying and selling insurance stocks. Part character study, part Wall Street history, Rothchild's book reads like a novel, with an accessible and witty narrative. Of special note is the concise summary of Davis' investment strategy, which rivals Buffettology in its simplicity and common sense. In Rothchild's hands, Davis' life becomes a fun read, no matter what your business interests, and we from (..)recommend this book to all curious readers.
Rating: 4
Summary: More Than a Dynasty
Comment: While this is not a "how to" book it certainly is "why to" book. It's a look at remarkable family that gives anyone who has never invested in the stock market a perfectly good reason why they should! Patience and long term results are a philosophy that has worked well for them over the years. It's a look at a concept and philosophy handed down by the patriarch of the family that wealth should not be handed down, but earned. Spanning 4 generations, Rothchild gives the reader a remarkable insight into a family that works hard and plays hard. Even with this success the family has given back through many philanthropic endeavers including millions to the United World College. The college, with 10 campus' world-wide endeavers to bring students of different cultures and backgrounds together to foster understanding of each other in a world that desperately needs it.
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Title: Bull! : A History of the Boom, 1982-1999: What drove the Breakneck Market--and What Every Investor Needs to Know About Financial Cycles by Maggie Mahar ISBN: 006056413X Publisher: HarperBusiness Pub. Date: 21 October, 2003 List Price(USD): $27.95 |
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Title: Value Investing : A Balanced Approach (Frontiers in Finance Series) by Martin J. Whitman ISBN: 0471398101 Publisher: Wiley Pub. Date: 22 September, 2000 List Price(USD): $29.95 |
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Title: One Up On Wall Street : How To Use What You Already Know To Make Money In The Market by Peter Lynch, John Rothchild ISBN: 0743200403 Publisher: Simon & Schuster Pub. Date: 03 April, 2000 List Price(USD): $14.00 |
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Title: The Intelligent Investor: The Definitive Book On Value Investing, Revised Edition by Benjamin Graham, Jason Zweig ISBN: 0060555661 Publisher: HarperBusiness Pub. Date: 08 July, 2003 List Price(USD): $19.95 |
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Title: John Neff on Investing by John Neff, John Neff ISBN: 0471417920 Publisher: Wiley Pub. Date: 30 March, 2001 List Price(USD): $16.95 |
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