Publisher Description

UPDATED & EXTENDED 2ND EDITION - with a brand-new foreword by Merryn Somerset Webb

Let the market come to you.

Deep Value Investing by Jeroen Bos is an incredibly candid and revealing guide to the secrets of deep value investment. Written by an investor with a long and remarkable track record, it shares for the first time the ins and outs of finding high-potential undervalued stocks before anyone else.

Deep value investing means finding companies that are genuine bargains that can pay back phenomenally over the long term. They are firms so cheap that even if they were to close tomorrow their assets would pay you out at a profit. But if they can turn things around, the rewards will be many times greater ...

These were the favourite shares of Benjamin Graham, author of The Intelligent Investor. Inspired by Graham's classic and with a long history of discovering these great value stocks - sometimes known as 'bargain issues' or 'netnets' - author and investor Jeroen Bos reveals:

- how to use only publicly available information to discover these shares and filter the gold from the dross

- everything he did when analysing, purchasing, monitoring and selling more than ten recent successful deep value investments

- the complete philosophy behind deep value investing, and the ins and outs of this strategy in practice

- what can go wrong and how to minimise the chances of it happening to you.

Deep value investing has a better track record than almost any other approach to the market. Even better, it doesn't require minute and technical knowledge of a company, nor is it fixated on earnings or often-unreliable future projections.

It's all about the balance sheet and patience. This makes it the perfect investing approach for those who want to see phenomenal stock market returns without wasting time or commission costs.

Author Biography

Dutch investor Jeroen Bos has lived in England since 1978. He has a diploma in Economics from Sussex University and has worked his entire career in the financial services industry, mainly in the City of London. He worked for many years at Panmure Gordon & Co, the stockbroker, and it was here that his interest in value investing developed. This process accelerated after the October 1987 stock market crash, during which time he took inspiration from The Intelligent Investor by Benjamin Graham.At the end of 2003 Jeroen joined Church House Investment Management to manage CH Deep Value (Bahamas), which in March 2012 became the CH Deep Value Investments Fund.He lives in Sussex, is married and has three sons.

Table of Contents

About the authorForeword By Michael van BiemaPreface to the 2nd editionPreface to the 1st editionIntroduction: Being a Deep Value InvestorWhat you can get out of this bookFinding friendless companiesTeaming up with a super investorA sweet pickPart I. The Deep Value Philosophy1. Deep Value InvestingA neglected methodBargain issues: true deep valueBenjamin Graham and bargain issues2. How Deep Value Investing WorksJust the factsAssets not earningsCyclical services sharesA note on comparing stocksHolding on for the rideThe rest of the bookPart II. Deep Value Successes3. Spring GroupCompany backgroundInvestment caseOutcome4. Moss BrosCompany backgroundInvestment caseOutcome5. ArmorGroup InternationalCompany backgroundInvestment caseOutcome6. Morson GroupCompany backgroundInvestment caseOutcome7. Harvard InternationalCompany backgroundInvestment caseOutcome8. VelosiCompany backgroundInvestment caseOutcome9. B.P. Marsh & PartnersCompany backgroundInvestment caseOutcomePart III. Deep Value Failures10. RAB CapitalCompany backgroundInvestment caseOutcome11. AbbeycrestCompany backgroundInvestment caseOutcomePart IV. Deep Value Shares of Tomorrow12. Bloomsbury publishingCompany backgroundInvestment caseOutcome13. Barratt DevelopmentsCompany backgroundNon-investment caseThe waiting gameInvestment caseOutcome14. Gleeson (MJ) GroupCompany backgroundInvestment caseOutcome15. French ConnectionCompany backgroundInvestment caseOutcomeA work in progress16. NorconCompany backgroundInvestment caseOutcome17. RecordCompany backgroundInvestment caseA changing modelOutcomePart V. All-New Deep Value Case Studies18. Panmure Gordon & Co. Plc19. Enteq Upstream.20. Hargreaves Services.21. Lamprell Plc.22. Sanshin Electronics Co, Ltd.23. Hydrogen Group Plc.EpilogueAfterword by Merryn Somerset WebbAcknowledgements

Review

Reviews for the first edition; "Mr Bos has written a practical and very readable book that should appeal to those who are looking to learn more about this very particular style of investing. The examples are neatly interwoven with the lessons he has learnt over the years and the qualities required of a deep value investor." -FT Adviser's Book of the Year 2013; "Very well written, easy to understand and jargon free... the book probably will help in making you a better investor, and on that basis it is definitely worth an addition to any serious investor's library." -Richard Gill, T1ps; "If you're "deep" into deep value strategies, or want to watch over the shoulder of a talented operator, Jeroen Bos's 'Deep Value Investing' is well worth picking up!" -Valueprax; "Deep Value investing is not for the faint hearted but Jeroen Bos is an expert practitioner. His book is clear, engaging and practical. It shines an expert light on this lucrative and little known investment niche. Frankly, as a fellow deep value investor looking for undiscovered bargains, I wish he hadn't done quite such a good job of it." -Andrew Williamson, Hawkwood Capital LLP; "If you want to know how to make money by buying cheap companies, this book is a must." -Philip Best, Argos Investment Managers. "...there is a lot of value in Deep Value Investing, especially today afer a period of underperformance." --Michael Wasserman, StrictlyValue

Review Quote

"Deep Value investing is not for the faint hearted but Jeroen Bos is an expert practicioner. His book is clear, engaging and practical. It shines an expert light on this lucrative and little known investment niche. Frankly, as a fellow deep value investor looking for undiscovered bargains, I wish he hadn't done quite such a good job of it." --Andrew Williamson, Hawkwood Capital LLP "With the publication of Deep Value Investing, J Bos has joined a very select group made up of investors turned authors turned teachers. Deep Value investing is not your average book about value investing. No generalities here, no theories, no big words. But facts, very clear principles and how to implement them example after example. This book has not been written to entertain the reader nor to make him dream about becoming rich through using some abstruse formulae or techniques. Everything in this book is easy to understand, down to earth and replicable. But at a cost: one has to work and work hard in order to put to good use Jeroen Bos' manual. One has to go after the raw materials of financial accounts and statements and dig underneath in order to, on rare occasions, be fortunate enough to pick the deeply undervalued investment opportunities. The Intelligent Investor by Benjamin Graham remains a reference in the field, but the required reading list for value investors is now one title longer since J Bos' Deep Value Investing publication." --David Pastel, Chairman and CEO, Pastel & Associ

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