Up front – Read this first
Part 1: The Field of Play
1. Stocks Beat Every Other Asset Class
5. Efficient Market Hypothesis
6. Inefficient Market Hypothesis
8. The Economy and the Stock Market – Cycles and Trends
Part 2: Human Foibles and Investment Decision Making
9. Great Investors and Market Psychology
11. Two Different Species – Econs and Humans as Investors
12. Short Term Thinking and our Flower Garden
13. Overweighting Improbable Outcomes
16. We Overgeneralize and Find Causes
17. Recent Events – Vivid Memories
18. Over-confidence and Optimism
19. Our Urge to Do what Everyone Else is Doing
Part 3: Thoughts for the Individual Investor
23. Decision making under uncertainty
Part 4: Principles of Operation
26. Buying with a margin of safety
27. Sound Principles of Operation
Part 5: Asset Management
29. Bubbles, crises, panics and crashes
Part 6: The Hallmarks of Superb Businesses
31. General Approach to Choosing Common Stocks
32. Sectors and Company Attributes to Avoid
33. Thoughts about the Different Sectors and Groupings
34. Bottom Up and Various Qualities
35. Capital Structure, Strength and Economic Performance
Part 7: Building and Managing a Portfolio
36. Diversification, Balance and Strategy
38. The Problem of Determining Intrinsic Value
39. Use of Ratios to Value Shares
40. Finding and Studying Companies to Invest in
41. Pundits, Market explanations and Forecasts
43. Uses and Misconceptions about Charts
Part 8: Final thoughts
Appendix 1: A glossary of special terms and phrases
Appendix 2: Templeton Maxims 1982 Version
Appendix 3: Gap-to-Edge Rules
Appendix 4: Works Cited