Synopses & Reviews
It takes only a few high-quality stocks for a stock portfolio to make the big money. Finding winning stocks is a skill that any serious investor can learn, says Fred Kobrick, veteran stock picker and legendary mutual-fund manager. In The Big Money
, Kobrick draws on a lifetime of investing experience to show how he identified four qualities that reliably predict which companies will thrive and grow, producing outsize stock returns.
Kobrick explains how the four qualities of winning companies -- business model, assumptions, strategy, and management (known collectively as BASM) -- are a touchstone for successful investors. They are the key to repeatability, the ability to keep producing success. BASM is important for blue-chip and young companies alike.
Once investors have identified companies with great potential, Kobrick shows them how to use his Seven Steps to financial success to manage their portfolios. All of these principles are embedded in Kobrick's insightful and often entertaining anecdotes.
The Big Money is a book no serious investor can afford to be without.
"In The Big Money, Frederick Kobrick's confidence and insight, honed from more than three decades as a leading mutual fund manager and investor, make his stories worth a good listen. . . . His results speak for themselves." -- Kerry Hannon, USA Today
"One of the best stock pickers I have ever met. . . .This book breaks new ground and will help investors improve their skills." -- Peter Lynch
"One of the great masters of the market, Fred Kobrick, offers up the lessons of a lifetime." -- Henry Scammell, Equities
"I have known Fred Kobrick since our school days and he is one of the best stock pickers I have ever met. This is a refreshing book, a fun read, and with a new approach that removes many complex obstacles for investors. It shows them how to use their own common sense and some simple techniques to identify great stocks early. This book breaks new ground and will help investors improve their skills."
-- Peter Lynch
About the Author
Frederick R. Kobrick
has managed money for more than thirty years. He spent fourteen years as an investment analyst at Wellington Management Company, then joined State Street Research & Management in 1985. He managed the State Street Research Capital Fund, which was one of the five best-performing funds in the country for fifteen years, according to USA Today.
Kobrick's Capital Appreciation Fund was included in Money
magazine's "Six Funds of the Decade" in 1996, and cited in USA Today
as among the five best funds for the entire bull market.
Kobrick left State Street in 1997 to start his own firm, managing three public mutual funds as well as Kobrick Capital, a hedge fund for wealthy individuals and institutions. He was cited by The Boston Globe as one of the top three investors of the 1990s. Kobrick Capital was named USA Today's All-Star Fund of the Year in 1998 and 1999, the only mutual fund ever to win twice.
A frequent guest on financial programs on television, Kobrick currently advises institutions on a pro bono basis and also lectures. He teaches investment management part-time at Boston University, where he has served as a trustee.
Table of Contents
1 Anyone Can Become Rich
One Stock, BASM, and the Seven Steps
2 Know What You Own
3 Holding On to Become Rich
Patience and the Other Steps
4 Buy and Sell Disciplines
Understanding Two Key Steps
5 Stock Picking
Putting It All Together
The Best Management Means the Best Stocks
7 Bear Markets, Bubbles, and Market Timing
How to Invest in Different Environments
8 Tech Investing
From Microsoft and Dell to eBay and Google
9 Snake Oil: How to Protect Your Money from Liars and Dummies
Fraud, Liars, and Fools
Epilogue: Down the Path to the Big Money