Updates

  1. Search groups its results by kind: people, companies, geographies, subjects, topics, books, funds, fund letters and papers.
  2. The Books table lists who recommended each book by name, and the browser tab names the section you are in.
  3. Feedback can take a screenshot of the page, or one you paste or choose, and opens in the corner beside Updates.
  4. Each rail button reopens its section where you left it, and Browse, Table and People show on every book and subject page.
  5. Filters grey out choices that hold nothing instead of hiding them, and Books › People filters by authors or recommenders.
  6. Feedback takes a subject line and up to three screenshots.
  7. Biographies are grouped by the person they are about: 41 new pages, from Abraham Lincoln to Lee Kuan Yew.
  8. Sport splits into 23 sports, and Religion into one topic per faith.
  9. Book lists show as cards: the cover, one recommendation quote and every recommender by name.
  10. Seventeen subjects that had two or three pages under different names now have one page each.
  11. Every page lists its Experts as authors and recommenders, with a link to them on the Experts tab.
  12. Economics, Financial history, Financial panics and Accounting are subjects of their own, with one page per financial crisis.
  13. Book, person and subject pages open inside the app, so the tabs stay in view.
  14. 996 more book covers, and photographs or logos for 227 more people and companies.
  15. Books › Browse shows every subject as cards, and the rail holds Fund letters, Papers, Experts, Books and Funds.
  16. Every topic over 150 books splits into narrower topics, each with a page of its own.

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Investment styles

28 investment styles and 2 assets holding 295 books. Each opens its own page with its books, tier first, and the people who recommend them.

Cloning and Coattail InvestingCopying disclosed positions of managers you have studied.6 books
Contrarian InvestingTaking the other side of consensus on purpose, and the temperament required to hold it.14 books
Credit and distressed debtDistressed investing is where credit analysis meets bankruptcy law; the literature pairs technical manuals with the narrative history of the junk…16 books
Deep Value and Cigar ButtsThe statistically cheap end of the market: broken, ugly and unloved securities bought as a basket.9 books
Dividend and Income InvestingBuying cash returned to shareholders rather than reinvestment; a style with a large popular literature and a thin academic one.9 books
Event-Driven InvestingReturns driven by a corporate event rather than the market: mergers, restructurings, litigation, index changes.8 books
Factor Investing and Smart BetaSlicing returns into value, size, momentum, quality, low volatility and carry, then buying the exposures cheaply.9 books
GARP, Growth at a Reasonable PriceThe middle ground: growth bought on a price-earnings-to-growth discipline rather than at any price.9 books
Global Macro InvestingTop-down positions in currencies, rates, commodities and indices driven by policy and credit cycles.13 books
Growth InvestingPaying up for businesses whose earnings power is expected to expand for years; the tradition Fisher started and Lynch popularised.8 books
Index Investing versus Active ManagementThe costs argument, the arithmetic of active management, and the rise of the index fund.29 books
Insider Buying and Following the Smart MoneyTrading on disclosed insider transactions and institutional filings.3 books
Long-Short EquityPaired long and short books run for stock selection rather than market direction; the largest single hedge fund category.11 books
Micro Cap and Nano Cap InvestingThe smallest listed companies, often unfollowed and illiquid.6 books
Momentum InvestingBuying what has already gone up.7 books
Net-Nets and Asset PlaysBuying below liquidation or replacement value, where the balance sheet rather than the income statement carries the thesis.9 books
Owner-Operator and Founder-Led InvestingBacking managers with their own money in the business.9 books
Quality Investing and CompoundersOwning high-return, reinvesting businesses and letting time do the work; the style that grew out of Buffett's shift away from cigar butts.11 books
Quantitative and Systematic InvestingRules, data and code in place of discretion; from Thorp's card counting to modern machine learning.17 books
Risk ParityAllocating by risk contribution rather than capital, usually with leveraged bonds.7 books
Roll-ups and serial acquirersCompanies that compound by buying small businesses repeatedly.9 books
Shareholder ActivismThe mechanism by which outside owners force change on management, from 1920s proxy fights to modern hedge-fund campaigns.6 books
Short sellingThe craft of being short: borrow, carry, timing and the asymmetry of the payoff.9 books
Small caps and micro capsThe size premium and the illiquid end of the market where a small manager can still find things nobody has looked at.11 books
Special Purpose Acquisition CompaniesBlank-cheque vehicles and the 2020-21 boom.3 books
Spinoffs and Special SituationsEvent-driven investing where the edge comes from forced selling, index exclusion and structural neglect rather than better forecasting.9 books
Trend Following and Managed FuturesSystematic long and short positions in futures across asset classes, sized by volatility; the oldest surviving quantitative strategy.6 books
Turnaround and Deep Cyclical InvestingBuying at the bottom of a capital cycle or an operating collapse, where supply discipline rather than demand does the work.8 books
Value InvestingBuying securities below a conservatively estimated intrinsic value; the oldest formalised approach in the field and the one with the deepest…89 books
Venture InvestingBacking young private companies on the understanding that most will fail and the winners are unbounded, so the portfolio is underwritten for one…13 books

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