Common Stocks and Common Sense
Using a case-study approach based on real-world investments, Common Stocks and Common Sense provides detailed insight into common stock investing. It provides comprehensive analyses of actual investments made by author Edgar Wachenheim and other investors. It discusses the entire investment process, including the softer, human side, with candid insight into the joys and frustrations, intensities and pressures, and risks and uncertainties.
"Ed Wachenheim has been an extraordinarily successful value investor for decades, and in this well written and engrossing book, he explains his investment approach through case studies, including mostly investments that went well but also some that went badly. The key takeaways are that success requires intense commitment to research, a probabilistic mindset, and the temperament to remain rational in the face of market irrationality."
— ROBERT E. RUBIN, Former U.S. Secretary of the Treasury
"Ed Wachenheim often emphasizes the great value of using one's 'common sense' as an investor. But after he describes how he has analyzed every imaginable dimension and variable of several organizations before deciding whether to buy their stock, we quickly realize that there is nothing even remotely 'common' about his ability to be both prescient and wise. This is a fascinating and enlightening book that is completely accessible to the layman, and should be required reading for professionals."
— NEIL RUDENSTINE, Former President of Harvard University
"Ed Wachenheim is a very successful investor who has never sought the limelight. He has written a book on investing which is a kind of confessional, talking openly about his stock picking experiences with humor and candor. Reading about his odyssey over the past several decades will prove to be a useful apprenticeship for both the novice and the experienced investor. I learned a lot and I've been doing it longer than he has."
— BYRON WIEN, Vice Chairman, Blackstone Group LP