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Simple But Not Easy, 2nd edition

A practitioner's guide to the art of investing (Expanded second edition of the investing cult classic)

By Richard Oldfield
Cover of Simple But Not Easy, 2nd edition (Paperback) by Richard Oldfield Cover of Simple But Not Easy, 2nd edition (Ebook - phone) by Richard Oldfield Cover of Simple But Not Easy, 2nd edition (Ebook - tablet) by Richard Oldfield

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About the Author

Richard Oldfield

Richard Oldfield is chief executive of Oldfield Partners LLP, which manages equity portfolios for families, trusts, charities, endowment funds and pension funds with an approach the firm describes as long-only, concentrated, value-focused, and index-ignorant.

Contents Listing

Preface to the Paperback Edition
Introduction

1. Howlers Galore
2. Types of Investments
3. Hedge Funds
4. Fees
5. Indices and Index-hugging
6. Benchmarks
7. What to Look for in a Manager
8. What Not to look for in a Manager
9. How to be a Successful Client
10. When to Fire a Manager
11. Keep Your Distance
12. The Folly of Forecasting
13. Valuation Matters
14. Heuristics

New Afterword to the Paperback Edition
Acknowledgements
Preface to the Paperback Edition
Introduction

1. Howlers Galore
2. Types of Investments
3. Hedge Funds
4. Fees
5. Indices and Index-hugging
6. Benchmarks
7. What to Look for in a Manager
8. What Not to look for in a Manager
9. How to be a Successful Client
10. When to Fire a Manager
11. Keep Your Distance
12. The Folly of Forecasting
13. Valuation Matters
14. Heuristics

New Aft ...

Jacket Text

Described by the author as “a slightly autobiographical and heavily biased book about investing”, Simple But Not Easy won fans among both professional and private investors alike when first released in 2007.

The theme of the book is that investment is simpler than non-professionals think it is, in that the rudiments can be expressed in ordinary English and picked up by anybody. It is not a science. But investment is also difficult. People on the outside tend to think that anyone on the inside should be able to do better than the market indices. This is not so. Picking the managers who are likely to do better is a challenge.

Richard Oldfield begins with a detailed confession of some of his worst mistakes and what they have taught him. He discusses the different types of investment, why fees matter, and the importance of measuring performance properly. He also outlines what to look for (and what not to look for) in an investment manager, when to fire a manager, and how to be a successful client.

A cult classic for its candid confessions and sparkling wit, this extended edition of Simple But Not Easy – featuring a new author’s preface and a substantial afterword – remains an indispensable companion for all those interested in the rewarding but enigmatic pursuit of investing.

Professional Reviews

“Quirky but fascinating…It is the real thing.” — William Cash, The Business

“Excellent – a fascinating read…An expert, but extremely readable, real-life tour through the main features of the investment landscape.” — Alistair Blair, Investors Chronicle

“[T]he best book of its kind I have ever read.” — William Rees-Mogg, The Times


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