The Billion Dollar Mistake: Learning the Art of Investing Through the Missteps of Legendary Investors

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John Wiley & Sons, Oct 30, 2009 - Business & Economics - 272 pages

Important investment lessons gleaned from the mistakes of accomplished professional investors and billionaire businessmen

The Billion Dollar Mistake is an up-close account of the career-defining mistakes that some of the world's most brilliant billionaire investors have made, and a revealing look at what we can learn from them. Drawing on author Stephen Weiss' twenty-two years experience at some of Wall Street's most prestigious firms, the core of this book is based upon original research and interviews with these legendary investors, who discuss the most significant trade or investment that went against them, the magnitude of the loss, its effect on their businesses-and on their personal lives. To some, these fascinating accounts will read like a novel; to others, it will be a treasured and unique investment guide.

This intriguing book skillfully examines the causal relationship between the quirks of each investor's personality and the mistakes they have committed. Along the way, Weiss provides a series of compelling narrative accounts of the individuals' road to success, the particular mistakes they made, the character flaws that led to them, and the lessons learned. While some investors made errors of judgment, others made errors of perception. The Billion Dollar Mistake

  • Uncovers important lessons learned from the failures of some of the most enduring and accomplished investors, including Kirk Kerkorian, Bill Ackman, Aubrey McClendon and Leon Cooperman
  • Discusses how to incorporate these lessons into your investment discipline and avoid the same missteps
  • Reveals common mistakes made by bigger investors that the average investor can relate-the only difference is in magnitude with more zeros attached to the loss
  • Includes insights on improving your investment endeavors by refining your approach to today's markets

Learning from the missteps of the best in the investment business can help you succeed. With The Billion Dollar Mistake, you'll discover how.

 

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User Review  - buchowl - LibraryThing

This book surprised me. Normally this type of book wouldn't interest me as I have no celebrity type fascination with legendary investors. Nor do I have any illusions of becoming a Buffet or a Soros ... Read full review

Contents

Learning the Art of Investing Through the Missteps of Legendary Investors Introduction
1
Learning the Art of Investing Through the Missteps of Legendary Investors Chapter 1 Kirk Kerkorian DUE DILIGENCE IS DUE EVERY TIME
11
Learning the Art of Investing Through the Missteps of Legendary Investors Chapter 2 David Bonderman DOES THIS MEAN I ALSO OVERPAID F...
31
Learning the Art of Investing Through the Missteps of Legendary Investors Chapter 3 Aubrey McClendon FALLING ON THE WRONG EDGE OF ...
51
Learning the Art of Investing Through the Missteps of Legendary Investors Chapter 4 Bill Ackman DETOUR FROM DISCIPLINE
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Learning the Art of Investing Through the Missteps of Legendary Investors Chapter 5 Nick Maounis TRUST BUT VERIFY
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Learning the Art of Investing Through the Missteps of Legendary Investors Chapter 6 Leon Cooperman THE PIRATE OF PRAGUE MEETS THE P...
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Learning the Art of Investing Through the Missteps of Legendary Investors Chapter 7 Richard Pzena FASHIONS CHANGE HISTORY PERSISTSOR...
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Learning the Art of Investing Through the Missteps of Legendary Investors Chapter 9 Volkswagen and Porsche THE HARE FINALLY WINS AND ...
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Learning the Art of Investing Through the Missteps of Legendary Investors Chapter 10 Chris Davis IT WAS DRESSED LIKE AN INSURANCE CO...
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Learning the Art of Investing Through the Missteps of Legendary Investors Chapter 11 Madoff Investors HOOK LINE AND SUNK
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Learning the Art of Investing Through the Missteps of Legendary Investors Epilogue Me Too MISTAKES IVE MADE AND LESSONS IVE LEAR...
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Learning the Art of Investing Through the Missteps of Legendary Investors Notes
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Learning the Art of Investing Through the Missteps of Legendary Investors Glossary
241
Learning the Art of Investing Through the Missteps of Legendary Investors About the Author
249
Learning the Art of Investing Through the Missteps of Legendary Investors Index
251

Learning the Art of Investing Through the Missteps of Legendary Investors Chapter 8 Geoff Grant STYLE DRIFT ITS HOT TILL ITS NOT
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About the author (2009)

STEPHEN L. WEISS has spent the last twenty-three years on Wall Street working for some of the industry's most prestigious firms. He is currently a Senior Managing Director and Head of Equities at an investment bank in New York City. Weiss started in institutional sales at Oppenheimer & Co., then moved to Salomon Brothers, where he eventually co-managed the firm's 500 person global research department and became a spokesperson for the equity division. Weiss also worked at SAC Capital, co-managing the firm for legendary hedge fund manager Steven Cohen. Subsequent to SAC, Weiss joined Lehman Brothers in senior management, helping to restore the once prominent equity business to the pinnacle of the industry.

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