Where the Money Is: Value Investing in the Digital Age

One of the best books I have read on investing in years. Bill Ackman, founder and CEO, Pershing Square Capital Management From a successful investor and a contributor to Barrons and Fortune comes a once-in-a-lifetime book that gives modern investors what they need most: a fresh guide to making money in a stock market now dominated by tech stocks. Technological change is reshaping the economy in a way not witnessed since Henry Ford introduced the assembly line. A little more than ten years ago, only two of the ten most valuable publicly traded companies in the world were digital enterprisestoday, they comprise eight of the top ten. Investors around the world are struggling to understand the Digital Age and how they can use the stock market to profit from it. Author Adam Seessel understands. Several years ago, he watched his old-school portfolio built using traditional value investing principles decline while the market, driven by expensive tech stocks, advanced. Determined to reverse course, he set off in search of a new investment paradigm, one that remained true to the discipline that Ben Graham gave us a century ago while reflecting the new realities of the Digital Age. In this helpful take on playing the stock market (Publishers Weekly), Seessel introduces a refreshed value-based framework that any investor, professional or amateur, can use to beat the modern market. Like all sectors, the tech sector follows certain rules. We can study these rules, understand them, and invest accordingly. The world is changing, and we can profit from it. Approaching tech this way, the economys current changes and the rapid rise of tech stocks are not reasons to be frightened or disorientedtheyre reasons to be excited. Infused with the same kind of optimism and common sense that inspired Benjamin Grahams The Intelligent Investor and Peter Lynchs One Up on Wall Street, Where the Money Is ushers in a new era of modern value investing.