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Title: This is the best book in my investment library of 30 works.
Review: Mr. O'Shaughnessy shows you what works, what doesn't, and why. More than just a guide to selecting stocks, this book lets you see what is behind the superior or inferior performance of money managers, especially mutual fund managers, 80% of whom trail the performance of passive index funds. The tools for evaluating a proposed portfolio are shown. In short, he takes much of the mystery out of investment success, while showing how disasterous the wrong selection criteria can be. Studying this book helped me learn to be patient with good money managers who are having a period of underperformance
