The Art of Investing: Lessons from History's Greatest Traders

Rated 5 out of 5 by from Not going to get rich off of this lecture. But it will broaden your understanding of the economy/investing through the many stories. And keeps you entertained.
Date published: 2020-11-11
Rated 4 out of 5 by from Great Profiles of the Greatest Investors This course provides an interesting look into how some of the most successful investors of all time made their bones and the strategies they employed that made them legendary. Each lecture focuses on a specific investment strategy and some of the pioneers that made it famous. However, there isn’t “one style that works for all” silver bullet since some of them reached their successes with strategies that would seem to conflict with others that were also very successful. Do not expect to instantly strike it rich by following their blueprints. However, there are indeed some general takeaways that should help anyone interested in getting into active investing: hard work is probably the most common theme. Most (all?) of those profiled worked a mind boggling number of hours a week well into their elder years. I picked up some other interesting concepts that made a lot of sense including: - Moats - How to avoid the common psychology of buying high and selling low - Value over growth and small cap over large in the long-term It also reinforced core fundamentals such as diversification, rebalancing, and dollar cost averaging. This course does a good job of serving as an introduction to the various investment vehicles available: stocks, bonds, mutual funds, commodities, futures, currency, hedge funds, options, sovereign wealth funds, etc. If you are more advanced in this field I don't suspect you'll take much away but if you are beginner to intermediate I don't think you can find a much better course. Professor Longo shares a number of interesting and thought-provoking quotes from the featured traders that really provide insight into their investing principles and mindsets. They serve as a succinct way of capturing how they tackle the art of investing. Professor Longo speaks clearly and in general is easy to understand and follow. This especially helps when trying to grasp what can be a myriad of different and sometimes complex investment vehicles and strategies that exist. Onto the negatives: The good professor needs to master the art of concluding lectures. Conclusions to the lectures are not well structured: A number of them abruptly end at what feels like unexpected times (sometimes without a satisfying conclusion to the topic at hand). Typically you can tell when a lecturer is wrapping up and 9 times out of 10 I can sense from the way she/he speaks the last sentence it is indeed the last sentence. With Professor Longo there is none of this and you're never quite sure when one of his sentences will be his last for that lecture. He also repeats definitions of specific concepts in different lectures a few too many times. Refreshers are most welcome considering days could pass between a listener consuming different lectures. But this seemed a little overboard. He must’ve repeated the definition of short selling or PE Ratio at least 6 times each. Minor points of contention though. If you're interested in learning the stories of the most successful and famous investors of all time you will find this course well worth your time. But be warned its purpose isn't to provide you with a select few secrets that will make you the world's next billionaire. This course won’t make you rich but it will provide some practical and fundamental insight into successful investing and how to avoid common investing mistakes Enjoy it for the interesting profiles it highlights and for delivering general best practices on how to utilize the fundamentals of investing. You will also enjoy it much more if you are a beginner in the field vs. an experienced expert. I am personally very happy I have added it to my collection and suspect most people will feel the same.
Date published: 2020-08-17
Rated 5 out of 5 by from Great Read & Wonderful Course I bought the transcript book for this course a couple weeks ago. It was interesting, easy to read, easy to understand, and very informative. It doesn't drag you through complicated math - any hard formulas are explained slowly from a philosophical perspective. It's arranged in a roughly chronological order (discussing important topics and theories in the order of their discovery and use by academics and famous investors). It brings unmatched clarity of focus to the broad subject of investing.
Date published: 2020-07-30
Rated 3 out of 5 by from Disappointing purchase I purchased this thinking it would provide some insight into investing in the market. I'm happy that everyone the lectures cover were successful, but their stories didn't provide any informative information into any "Art of Investing". If you're interested in the big dogs stories and have time to burn, by all means make your purchase.
Date published: 2020-06-02
Rated 5 out of 5 by from The Strategies of History's Great Investors This is an excellent course that provides the historic strategies of some of the world's most successful investors. These strategies are still very relevant for investors today and indeed are being practiced by not only individuals but also by large investment houses. The course is interesting because it provides information on the backgrounds and upbringings of many of the individuals discussed in the course. This is not a detailed course on reading balance sheets and financial statements but rather a discussion of how the investors mentioned pursued their investment strategies....value versus growth investing for example. I ordered the DVD's and will be sharing them with friends and family members who have interest in investing.
Date published: 2020-02-18
Rated 5 out of 5 by from The art of investing: lessons from history’s great I knew of most of these men but the details revealed are fascinating.
Date published: 2020-01-05
Rated 5 out of 5 by from Eye Opener Biography, investment stratedgies and a who's who of the leading companies of Wall Street, this is a excellent entry level course into investing and the investors whose companies and legacies we all know. It is a well presented and enjoyable course and as a laymen, I came away learning a great deal and consider it time well spent.
Date published: 2019-05-05
Rated 5 out of 5 by from Good way to introduce various investment vehicles I have been investing for over 30 years, but I still enjoyed listening to this series. The professor picks several highly successful investors in a broad array of investment vehicles and describes, at a high level, each of these investor’s strategy. He defines many investment terms, sometimes multiple times. While this might be annoying, it should enable even a novice to jump around and not necessarily have to follow the lectures in order. He does not do a deep dive in any particular strategy, so this is more of an introduction to various investment opportunities. I did like how he gave some background to each investor he covers, while giving a good overview of the particular investment vehicle the investor targeted. In the end, he gives some hints on how the listener can develop their own strategies. I still wish there was a course focused on the neurology and psychology behind investing and personal finance to help people become better investors. I find the worst enemy of most investors is themselves, not which strategy they follow. At the end of the day, there are probably almost as many different investment strategy variations as there are investors, and most of those strategies would work, at least in some market conditions. However, so many people struggle, even when they are investing in simplistic index funds simply because their own psychology (fear, over confidence, etc.) causes them to buy high and sell low. I listened to the audio version and had no issues keeping up with the pace.
Date published: 2019-03-25
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The Art of Investing: Lessons from History's Greatest Traders
Course Trailer
Investing Skill, Strategy, and Temperament
1: Investing Skill, Strategy, and Temperament

Welcome to a boot camp on investing! Discover the influences that led Professor Longo to a career in finance. Then meet some of the major figures you will study in the course. Survey the key principles and strategies that built their fortunes.

29 min
Benjamin Graham and Value Investing
2: Benjamin Graham and Value Investing

Many of the most successful investors of the 20th and early 21st centuries were hugely influenced by the work of Ben Graham, the pioneer of value investing. Study the underpinnings of his proven philosophy, including the contrasting strategies of the enterprising investor and the defensive investor.

31 min
Warren Buffett: Investing Forever
3: Warren Buffett: Investing Forever

Explore the celebrated career of Warren Buffett, one of the world's richest people thanks to his disciplined approach to buying and selling companies. Learn how Buffett modified the strategy of his mentor, Ben Graham, by searching out high-quality companies with a competitive advantage, or "moat."

29 min
Fisher and Price: The Growth-Stock Investors
4: Fisher and Price: The Growth-Stock Investors

Turn to the fathers of growth investing, Philip Fisher and T. Rowe Price, Jr.. Discover how to tell growth stocks from value stocks. Then learn to spot signs that a stock is worth holding over the very long term, which is the goal of this influential school of portfolio analysis.

29 min
Harry Markowitz's Modern Portfolio Theory
5: Harry Markowitz's Modern Portfolio Theory

Study what two Nobel Prize-winning economists have to say about risk. Harry Markowitz put risk on an equal footing with return. Delve into his Modern Portfolio Theory and its implications for investors. Also investigate the insights of William Sharpe's Capital Asset Pricing Model.

28 min
John Bogle, Index Mutual Fund Pioneer
6: John Bogle, Index Mutual Fund Pioneer

See the index fund phenomenon from the inside through the career of John Bogle, founder of the Vanguard Group. Consider evidence for and against the Efficient Market Hypothesis, on which index investing is based. Also look into pitfalls to avoid when buying index funds.

29 min
Small-Cap Stocks: More Risk, More Reward
7: Small-Cap Stocks: More Risk, More Reward

Explore the world of small-cap investing, which targets companies with a market capitalization (outstanding shares times price/share) generally less than a billion dollars. Learn how legendary investors Warren Buffett, Peter Lynch, and Michael Burry flourished in this market. Survey your own options for getting involved.

29 min
John Templeton, Global Treasure Hunter
8: John Templeton, Global Treasure Hunter

Go stock hunting with John Templeton, who changed the world of finance by focusing on the global market and on a socially responsible portfolio. Review Templeton's checklist of the qualities that make a nation an attractive investing opportunity-for example, a low tax rate and high savings rate.

30 min
David Dreman, Contrarian Money Manager
9: David Dreman, Contrarian Money Manager

You are likely to be your own worst enemy when it comes to investing. Find out if you make the common mistakes on market psychologist David Dreman's list. Known as a contrarian-an investor who goes against the crowd-Dreman made a fortune by bucking trends.

30 min
Peter Lynch: Invest in What You Know
10: Peter Lynch: Invest in What You Know

Study mutual funds through the career of Peter Lynch of Fidelity, renowned for his spectacular management of the Magellan Fund in the 1980s. Discover the meaning of key mutual fund terms, and learn how Lynch picked winners. His famous mantra, "Invest in what you know," is only part of the formula.

28 min
The Bond Kings: Bill Gross, Jeffrey Gundlach
11: The Bond Kings: Bill Gross, Jeffrey Gundlach

Many people have an intuitive understanding of stocks but are at a loss when it comes bonds. Get a grip on this vital investment vehicle by probing the strategies of two contemporary bond kings: Bill Gross and Jeff Gundlach. Consider the best way to use bonds in your own portfolio.

30 min
Sovereign Wealth Funds: Singapore
12: Sovereign Wealth Funds: Singapore

Sovereign wealth funds are investment portfolios owned and managed by the government, generally in countries with commodity-oriented economies or large trade surpluses, such as Saudi Arabia and Singapore. Examine the history of these funds, how they operate, and their increasingly important role in the global economy today.

31 min
The First Hedge Fund: A. W. Jones
13: The First Hedge Fund: A. W. Jones

Take the mystery out of hedge funds with A.W. Jones, the sociologist who started the modern hedge fund industry. Jones designed a fund that smoothed out the rollercoaster ride of traditional buy-and-hold investing by offsetting long purchase positions with short sale positions....

30 min
Activist Investors: Icahn, Loeb, Ackman
14: Activist Investors: Icahn, Loeb, Ackman

Go company hunting with activist investors, sometimes called corporate raiders. Chart the exploits of three leading practitioners: Carl Icahn, Dan Loeb, and Bill Ackman. Along the way, learn the meaning of terms such as greenmail, black knight, white knight, shark repellant, and Pac-Man strategy....

30 min
The Big Shorts: Livermore, Chanos
15: The Big Shorts: Livermore, Chanos

Short selling is a dangerous game, since your losses are theoretically unlimited. Compare the short-selling strategies of two investing legends: Jesse Livermore, who made millions during the crash of 1929, and James Chanos, who predicted the collapse of Enron in the early 2000s....

29 min
George Soros's $10 Billion Currency Play
16: George Soros's $10 Billion Currency Play

George Soros, financier and philosopher, made more than a billion dollars in one day by following his own advice to bet big if you have high confidence in an idea. Trace the saga of this man's eventful life, from Nazi-occupied Hungary to the world stage, from social science theorist to global macro trader....

31 min
Bridgewater's Multi-Strategy Investing
17: Bridgewater's Multi-Strategy Investing

Learn from the successes of Ray Dalio, founder of Bridgewater, one of the world's largest hedge funds. Among his coups, the firm's Pure Alpha Fund gained almost 10% during the financial crisis in 2008, while U.S. and global stocks fell by 35% or more. Focus on Dalio's global macro and multi-strategy....

29 min
Paul Tudor Jones, Futures Market Seer
18: Paul Tudor Jones, Futures Market Seer

Study the investment strategy of Paul Tudor Jones, the man who predicted the stock market crash of 1987. Since then, his hedge fund firm, Tudor Investment, has been an industry leader. Focus on Jones's background in futures trading and his savvy use of technical analysis and market psychology....

30 min
James Simons: Money, Math, and Computers
19: James Simons: Money, Math, and Computers

Trace the stellar financial career of mathematician and former cryptographer James Simons, who tackled a challenge more difficult than code-breaking: consistently beating the market. Learn how "quants" such as Simons use computer algorithms to model security prices and execute lightning-fast trades....

32 min
Distressed-Asset Investors: Tepper, Klarman
20: Distressed-Asset Investors: Tepper, Klarman

For the intrepid investor, there are potential riches to be made when companies go under. Explore the field of distressed investing through the successes of two masters: David Tepper and Seth Klarman. Learn how to seize opportunities by buying what others don't want or must sell under duress....

29 min
Motorcycles, Gold, and Global Commodities
21: Motorcycles, Gold, and Global Commodities

Travel with the commodities specialist dubbed "the Indiana Jones of finance." Since retiring from the Quantum Fund at age 37, Jim Rogers has toured the world, scouting out opportunities in emerging markets. Learn how to break into commodities trading, and get Rogers' tips on what to look for in a foreign market....

30 min
Private Equity Innovators: KKR, Blackstone
22: Private Equity Innovators: KKR, Blackstone

Turn to private equity and leveraged buyouts (LBOs), exploring notable deals by two stars of field: Henry Kravis and Stephen Schwarzman, including Kravis's famous takeover of RJR Nabisco in 1988. Though you may never do an LBO yourself, you can invest in private equity firms that are publicly traded....

31 min
Four Women Who Moved Financial Markets
23: Four Women Who Moved Financial Markets

On average, women are better investors than men, with the patience, self-control, and risk-consciousness that are crucial to success in the financial world. Study four female top investors: Hetty Green, Linda Bradford Raschke, Sonia Gardner, and Leda Braga-each with a different approach to building wealth....

31 min
Becoming a Great Investor
24: Becoming a Great Investor

Survey the shifting fortunes of one famous company that over the course of a century made it appeal to almost every type of investor covered in this course. Then go through a detailed checklist that reveals the investment approach that matches your outlook and resources. Finish with one final great investor!...

34 min
John M. Longo

From a macro perspective, the financial markets play an integral role in the world we live in.

ALMA MATER

Rutgers University

INSTITUTION

Rutgers University

About John M. Longo

John M. Longo is a Professor of Professional Practice in the Finance & Economics Department at the Business School of Rutgers University. He has also been visiting professor of finance at EMBA-Global-the joint Executive MBA program of Columbia Business School, London Business School, and The University of Hong Kong. A Chartered Financial Analyst (CFA), Professor Longo earned an M.B.A. in Finance and a Ph.D. in Finance from Rutgers, where he also received his B.A. degree. He is a two-time award winner for innovative teaching at Rutgers Business School.

With two decades of professional investment management experience, Professor Longo currently serves as Chief Investment Officer and portfolio manager for Beacon Trust, with 2.5 billion dollars under management. He previously served as Chief Investment Officer and portfolio manager for The MDE Group and as a Vice President in a quantitative unit of Merrill Lynch.

Professor Longo is the author/editor of Hedge Fund Alpha. He is a member of the editorial board of The Journal of Performance Measurement, and he has served on the advisory board of the Bloomberg Institute. Dr. Longo has led his students on personal visits with Warren Buffett on four occasions, and he has appeared widely in the media, commenting on business topics.

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