This book is about how to invest in a market condition in which neither bull or bear market conditions are clear and instead which is range-bound.
Katsenelson explains what happens in a sideways market before explaining briefly what value investing is with the example of a farmer buying a cow. The author then focuses on Quality, Growth and Value and how the three together provide a margin of safety in a sideways market. There is a chapter explaining why being short of one of the trio is bad. The book then ends with a few chapters on some generic investing advice.
If you have read other value investing books, most of the concepts are familiar but what this book offers is a different mental model: that of investing in a sideways market. Not very earth-shattering knowledge about value investing is contained here but this book could give new dimensions to your investment thinking in its combination of factors to look at. Lazy readers or those with no time (this is already a very short book!) can just skip to the middle chapters and ignore the rest.
Recommended: Yes
Found in NLB: Yes
