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John Neff on Investing

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About this listen

 John Neff has proven time and again over the past three decades that bucking the system can pay off big. During his illustrious career as a money manager, Neff flew in the face of conventional wisdom by consistently passing over the big growth stocks of the moment in favor of inexpensive, underperforming ones, and he usually won!

During his 31 years as a portfolio manager for Vanguard's Windsor and Gemini Funds, he beat the market 22 times, through every imaginable stock market climate, while posting a 57-fold increase in an initial stake. When Windsor closed its doors to new investors in 1985, it was the largest mutual fund in the United States.

Now retired from mutual fund management, Neff is ready to share the investment strategies that earned him international recognition as the "investor's investor". In John Neff on Investing, Neff delineates, for the first time, the principles of his phenomenally successful low p/e approach to investing, and describes the strategies, techniques, and investment decisions that earned him a place alongside Warren Buffett and Peter Lynch in the pantheon of modern investment wizards.

©1999 John Neff (P)2000 Blackstone Audiobooks Investing & Trading Personal Finance Investing Mutual Fund Stock
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Struggled to finished but overall it is a remarkable story of amazing fund's results. If read by right person it would be even better.

Good book to read!

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This is not a casual read full of entertaining anecdotes. There's a few introductory chapters that give a little insight into Neff's early life and character, but mostly this is a highly detailed account of almost 40 years of his operations at the Wellington Management group. The chapters are accounts of each sector and company invested in, with results listed.

It's an impressive record, if perhaps just a little self-congratulatory. The core message is Neff's underlying philosophy of low PE value investing, combined with analysis of in and out of favour sectors of the economy: a strategy that clearly worked well for him and his investors. Though if this is an approach you're interested in, you'll probably want to back it up with some of the classic Graham/Dodd texts to fill out your understanding.

The narrator makes good work of the sometimes rather dry material.

Part manifesto, part nerdy financial history.

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Would you try another book written by John Neff and S.L. Mintz or narrated by Edward Lewis?

No

What could John Neff and S.L. Mintz have done to make this a more enjoyable book for you?

Cut out about 75% of it

What didn’t you like about Edward Lewis’s performance?

Narration was fine

If you could play editor, what scene or scenes would you have cut from John Neff on Investing?

Early biography, tedious notes on the ups and downs of what are now very out of date stocks which sound like the concatenation of years of fund manager notes to investors.

Any additional comments?

A few useful tips, but not worth the effort - spend your 9 and half hours elsewhere!

What is the point of this book?

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