J. Dennis Jean-Jacques
1 Lots of useful detail
Mr. Jean-Jacques bares the nitty gritty details of where and how to look for information to value the companies, determining which techniques are applicable when, and arriving at a valuation range based on triangulation from multiple relevant frameworks. IMHO, he spends a bit too much time philosophizing -perhaps, this consistent mental framework is useful to value investors starting out afresh.
2 Simply fantastic!
I got my copy of "The Five Keys to Value Investing" as a graduation gift from my dad who is a longtime professional equities investor. He thought this book would be a good way for me to prep before I start my career on Wall Street. I was not disappointed. The Five Keys is a very good summary of what I learned in business school and much, much more. The author draws heavily from his own professional experiences as a disciple of one legendary value investor and couples it with the value investment styles of other great investors like Buffett and Graham. The experience that the reader is drawn into is very worthwhile; but what makes this book very special is the framework. I have read several investment books over the years, but none like this one. Putting thousands of lessons and teachings of prominent value investors into a solid frame of mind is clearly the draw. In addition, reading along as the author analyzes and dissects companies and few special situations add gravitas to the body of work. The clarity in the concepts and the "conversation-like" tone was particularly attractive to me. In sum, this is a very coherent, practical book on the principles of value investing despite the fact that it is not too objective -- considering the authors' strong unapologetic bias towards value investing.
3 Good but not great.
The framework introduced in this book is excellent and the information is broad and thorough. I read a lot of Buffett and Graham; this book gives a very good description of their teachings as well of the perspectives of many other great value investors in the US. However, I thought that the author could have spent more time explaining each of the "five keys" with more examples and perhaps use a few international companies as well.
4 I did not know what to expect...
Mr. Jean-Jacques lead an insightful and meaningful discussion on value investing at the local book store. After picking up the book, it took me just three days to read it and I am glad I did. To be honest, I did not know what to expect prior to reading the book because from his discussion, Mr. Jean-Jacques came across as an extremely bright but private person. Also, I had never heard of him before. He seems to be non-promotional. However, after reading it the book spared nothing and explained the basics of value investing very well supported by very good and real-life examples. Anyone who enjoys following the stock market and value investing in particular will truly cherish this book.
5 Odd duplications
I'm now suspicious of this book based on the duplicate entries with 5 stars obviously written by the same people who didn't even bother to change their text in their reviews ...
6 Read it and use it
If you are interested in value investing. This book is for you. I can't help reading it over and over again in order to dig more information from the book. Invaluable and easy to understand. Read it and use it.
7 Very inviting
The Five Keys is a very interesting book. It's written a bit differently. I found it very useful in several ways. First, in its simplicity. I now use these five key factors in the research that I conduct. "The keys" is a very good framework to help me make decisions on various investment opportunities while taking on different perspectives. The book also provides powerful clues to finding great investment ideas by using ordinary publications such as Barron's or the Wall Street Journal. Third, I really enjoyed stepping inside the mind of a Wall Street guy. I felt as if I was the one working on Wall Street and having to answer tough questions myself! A little bit of drama was good (particularly in chapter one). Fourth, the author makes a strong case as to why no single valuation tool (such as P/E ratios) is superior to others when considering an investment. Lastly, the book was a short read and very inviting.
8 Adding value
I am a portfolio manager and I've worked with Dennis Jean-Jacques. I am very happy to see him assemble these lessons from the great investors in a simple framework. My. Jean-Jacques did a great job giving all the credit to those superb investors like Peter Lynch, Michael Price, Warren Buffett, Benjamin Graham, etc. While Mr. Jean-Jacques does not claim to be (or compare himself with) great investors in the book, he makes a solid case that the lessons of the great ones are still useful and valid today. He then goes on to simplify the lessons into these 5-key lessons as he calls it (like Ben Graham's "Margin of Safety" principle) by explaining each "key" from the vantage point of an investment analyst. That is one of the most important benefits from the book - how value analysts analyze companies starting from a company's annual report on down. After reading this book, I have gained a deeper appreciation of how the mind of a value investor works (or should work). This is not a portfolio manager's book. It is simply a solid book written from the perspective of a solid business analyst. It will be a great addition to your library.
9 Amazing!!!
Mr. Jean-Jacques has distinguished himself as "one of the greats" in the value investing world. Putting himself in a class w/ Buffet, Mr. Jean-Jacques has navigated the volatile world of stock market investing. He explains how not to get caught up in technical analysis or other silly investment techniques. He offers readers a golden opportunity on how he drove the investment process at Mutual Series and helped trained many of the investment professionals there, not to mention the absolute fortune he has made his investors over the years. Some people claim they are great investors, Mr. Jean-Jacques has the muscle to prove he rightfully deserves a spot in the Value Investors Hall of Fame.
10 A very good book for new value investors
The book does a good job showing us how professional value investors use ordinary resources like Value Line and The Wall Street Journal. I got lots of very insightful advice on how to search for good companies to buy and how to build a solid value portfolio. It is clear that the author is very passionate about his craft; he begins by drawing the reader into his world with a very thoughtful explanation on why controlling one's emotions is paramount to successful investing. This book is well put together. The only draw back is that the book could have been a bit longer - a lot of topics are covered in a limited number of pages.
