Richard Bernstein
1 Excellent, a Truly Unique Book
This is a very unique book. It covers topics
which other books do not. Most other investing
books look at stock picking, technical methods
for market timing, or basic value vs. growth
strategies.
This book goes beyond these areas and suggests
how and why value vs. growth cycles occur.
It also touches on topics not discussed in
other areas, like the earnings life cycle,
equity duration, and the macroeconomic variables
that influence the stock market. It also
touches on how institutional investors behave
and criticizes, justifiably, some of the
decisions they make.
I have read about 300 books on the markets,
and this is quite unique. I thought I had
read it all after over almost a decade as a
full time trader.
2 An balanced insight into style investment management
An insightful read. Perhaps more could have been made of the investment practicalities involved in when to actually make a transition from one style to another. It would also have been nice to have been given further details on style index constuction in order to aid the investment profesional. But overall, a seminal and defining book on style investment.
