PART I: WHY EVERYTHING YOU LEARNED IN BUSINESS SCHOOL IS WRONG.
1. Six Impossible Things before Breakfast, or, How EMH has Damaged our Industry.
2. CAPM is Crap.
3. Pseudoscience and Finance: The Tyranny of Numbers and the Fallacy of Safety.
4. The Dangers of Diversification and Evils of the Relative Performance Derby.
5. The Dangers of DCF.
6. Is Value Really Riskier than Growth? Dream On.
7. Deflation, Depressions and Value.
PART II: THE BEHAVIOURAL FOUNDATIONS OF VALUE INVESTING.
8. Learn to Love Your Dogs, or, Overpaying for the Hope of Growth (Again!).
9. Placebos, Booze and Glamour Stocks.
10. Tears before Bedtime.
11. Clear and Present Danger: The Trinity of Risk.
12. Maximum Pessimism, Profit Warnings and the Heat of the Moment.
13. The Psychology of Bear Markets.
14. The Behavioural Stumbling Blocks to Value Investing.
PART III: THE PHILOSOPHY OF VALUE INVESTING.
15. The Tao of Investing: The Ten Tenets of My Investment Creed.
16. Process not Outcomes: Gambling, Sport and Investment!
17. Beware of Action Man.
18. The Bullish Bias and the Need for Scepticism. Or, Am I Clinically Depressed?
19. Keep it Simple, Stupid.
20. Confused Contrarians and Dark Days for Deep Value.
PART IV: THE EMPIRICAL EVIDENCE.
21. Going Global: Value Investing without Boundaries.
22. Graham’s Net-Nets: Outdated or Outstanding?
PART V: THE ‘DARK SIDE’ OF VALUE INVESTING: SHORT SELLING.
23. Grimm’s Fairy Tales of Investing.
24. Joining the Dark Side: Pirates, Spies and Short Sellers.
25. Cooking the Books, or, More Sailing Under the Black Flag.
26. Bad Business: Thoughts on Fundamental Shorting and Value Traps.
PART VI REAL-TIME VALUE INVESTING.
27. Overpaying for the Hope of Growth: The Case Against Emerging Markets.
28. Financials: Opportunity or Value Trap?
29. Bonds: Speculation not Investment.
30. Asset Fire Sales, Depression and Dividends.
31. Cyclicals, Value Traps, Margins of Safety and Earnings Power.
32. The Road to Revulsion and the Creation of Value.
33. Revulsion and Valuation.
34. Buy When it’s Cheap – If Not Then, When?
35. Roadmap to Inflation and Sources of Cheap Insurance.
36. Value Investors versus Hard Core Bears: The Valuation Debate.