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Summary: Learn What the Big Boys Know
Review: A must read if you plan on investing in this very competitive market. Mr. Wagner picks his brain for us for his knowledge of this special market.
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Summary: A great book by a great Fund Manager and a talented writer
Review: Mr. Wanger's Book is probably the most honest, sensible, intelligent and realistic book written on investing. Reading this book helps you acquire the necessary logic, method, style, and discpline to use in order to succeed in the market for the long run. Thank you Mr. Wanger.
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Summary: Excellent book
Review: One of the best books I've read in investing. I highly recommend it.
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Summary: Big Disappointment
Review: Ralph Wagner is a decent enough writer, his problem is his inability to do more than scratch the surface. If this is your first book on investing in the stock market, then I'd completely recommend it. But although I agree wholeheartedly with Warner's Growth At a Reasonable Price (GARP) strategy, this book is nothing more than a philosophical discourse. There is no attempt to give the reader any usable strategies.
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Summary: A must-read for small-company stock and fund investors!
Review: Ralph Wanger writes about his investment philosophy and his experiences while managing the Acorn Fund (spanning over 25 years, and encompassing varied stock-market environments) in this `un-putdownable' book. Most investors know that the phrases "disciplined investing" and "small-cap stocks" generally don't go together. In an area where gunslingers dominate the scene, Wanger's approach, explained by him in his inimitable humorous style, comes across as a breath of fresh air. "A Zebra Among the Lions" will be useful both for mutual fund investors and for those who want to invest in small-cap stocks on their own. Chapter 6 ("Themes and Variations") and chapter 7 ("Downstream from Technology") are of particular interest -- Wanger not only explains his investment philosophy in detail here, but also gives helpful pointers to those who have the time and the inclination to venture into the small-cap world on their own. And for those who prefer to stick to mutual funds, he provides a yardstick by which to evaluate their fund managers. Wanger also elaborates on the opportunities in international small-cap investing (and its importance in the coming years and decades) in Chapter 11 ("While You're at It, Include the World"). Finally, in Chapter 12 ("Parting Reminders"), he offers valuable guidelines that the investor has to keep in mind in order to achieve success. In summary, Wanger explains how it is possible for the zebra (the investor) to eat fresh grass (get attractive returns) and yet, minimize the chances of being attacked by the lions (losing money in the market)! "A Zebra Among the Lions" shatters the myth that small-cap investing has to be tumultuous and risky. Quite to the contrary, it can be systematic and rewarding. And fun too! If you find this a little hard to believe, I strongly recommend that you read this book!
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Summary: Investment philosophy of a long term winner
Review: The back of the book states that "Wanger shows investors...how to achieve the right balance of safety and risk..." and he "shares his profit-maximizing, risk minimizing investment advice" but all Wanger does is go on endlessly about what not to do, how market timing or growth strategies are doomed to failure, what great small cap stocks he picked, and why individuals are unfit for picking stocks. He rarely proves anything he says, usually just stating his personal opinion as fact. He takes swipes at almost all investment strategies other than his own (GARP). This book is too useless for a beginner, too basic for a veteran, and an all around waste of money. Unless, of course, you would like to hear the unproven ramblings of a fairly successful mutual fund manager. But be warned, he will continually tell you how unfit you are to pick stocks, and that your only hope will be to invest in mutual funds. Go read anything by Peter Lynch rather than this book. Lynch's books are more informative, more interesting, and he doesn't repeatedly insult his readers.
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Summary: A Zebra in Lion Country
Review: The information within this book is worth knowing, but the majority of the information is either common knowledge or redundant examples. Ralph Wanger certainly does share his method for success, which has worked for him, but he does not hold any "secrets" for dramatic results (because no one really knows these secrets).
This book can enlighten a person on some aspects of the "market world," but this book contains no vital information on surviving the stock market, which is stated in the introduction. Wanger only presents the method he uses, and if someone could use one of his ideas to produce a profitable strategy, this book is worth reading.
I, personally, did not enjoy this book, but I did not dread reading it. The useful information contained in this book could have easily been displayed in maybe 15-20 pages. The rest of the book is examples of things to further induce his key points.
I would not recommend this book, but if a novice trader had absolutely no idea about what goes on in the stock market, this book may give some helpful ideas.
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Summary: Ralph Wagner explains how to invest in Ralph Wagner
Review: The subtitle claims this book explains "how to invest in small rapidly growing companies".Well, it turns out that, according to this book, the best way to accomplish this is to invest in small, rapidly growing companies. In all seriosness, there is almost no useful advice in this book about how to pick stocks. What this book does explain, in extravagent detail, is why you should not pick stocks, you should use a mutual fund, and while we are on the subject, the Acorn fund (which is run by Ralph) has made lots of money. Also Acorn lost some money here and there, you shouldn't get the impression that the author is claiming infallability. In all fairness, this was a fairly interesting read, and provided some good general insights into investing. But as far as useful insights into choosing small, rapidly growing companies, the reader is left with the impression that this can only be done by professionals. A legitimate viewpoint, except for the fact that this is exactly what the book promises (fraudulently, in my estimation) to explain how to do.
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