Foreword to the First Edition ix Foreword to The Manual of Ideas (Second Edition) xi Preface xv Part One MINDSET Chapter 1 Identify as a Capital Allocator: Put Your Capital Where It Is Treated Best 3 Passive Versus Active Investing 4 Role of Capital Allocator 9 Owner Mentality 17 Stock Selection Framework 21 Key Takeaways 23 Notes 25 Chapter 2 Invert, Always Invert: To Finish First, First Finish 27 Following the Crowd 30 If You Don''t Blow Up 37 Ergodicity: Win Infinite Games 40 Entropy: A Lesson from Thermodynamics 43 Key Takeaways 46 Notes 48 Part Two IDEA GENERATION Chapter 3 Ben Graham Bargains: Deep Discounts to Readily Ascertainable Net Asset Value 51 The Approach: Why It Works 52 Uses and Misuses of Deep Value Investing 63 Screening for Graham-Style Bargains 71 Beyond Screening: Working Through a List of Deep Value Candidates 74 Asking the Right Questions of Graham-Style Bargains 79 Key Takeaways 84 Notes 85 Chapter 4 Sum of the Parts: Investing in Companies with Multiple Sources of Value 87 The Approach: Why It Works 88 Uses and Misuses of Investing in Companies with Overlooked Assets 91 Screening for Companies with Multiple Assets 94 Beyond Screening: Proven Ways of Finding Hidden Assets 100 Asking the Right Questions of Companies with Hidden Assets 108 Key Takeaways 111 Notes 112 Chapter 5 Compounders, GARP, and Greenblatt''s Magic Formula 115 The Approach: Why It Works 116 Uses and Misuses of Investing in Good and Cheap Companies 123 Screening for Good and Cheap Companies 131 Beyond Screening: Hope for Improvement Springs Eternal 135 Asking the Right Questions of Greenblatt-Style Bargains 139 Key Takeaways 146 Notes 147 Chapter 6 Jockeys: Great Managers, Owner-Operators, and "Outsiders": Making Money Alongside Great CEOs 149 The Approach: Why It Works 151 Uses and Misuses of Investing in Jockeys 154 Screening for Jockey Stocks 164 Beyond Screening: Building a Rolodex of Great Managers 174 Asking the Right Questions of Management 179 Key Takeaways 185 Notes 186 Chapter 7 The Smart Money: Finding Opportunity in Superinvestor Portfolios 189 Superinvestors Are Super for a Reason 190 Uses and Misuses of Superinvestor Tracking 193 Screening for Companies Owned by Superinvestors 196 The Superinvestors of Buffettsville 198 Beyond Screening: What Makes a Company Attractive to Superinvestors? 205 Key Takeaways 209 Notes 211 Chapter 8 Diamonds in the Rough: The Opportunity in Underfollowed Small- and Micro-Caps 213 The Approach: Why It Works 214 Uses and Misuses of Investing in Small Companies 219 Screening for Promising Small- and Micro-Caps 223 Beyond Screening: Other Ways of Finding Compelling Small- and Micro-Cap Ideas 231 Asking the Right Questions of Small-Cap Prospects 241 Key Takeaways 246 Notes 247 Chapter 9 Special Situations: Uncovering Opportunity in Event-Driven Investments 249 The Approach: Why It Works 250 Uses and Misuses of Investing in Special Situations 254 Uncovering Special Situations 262 Asking the Right Questions of Special Situations 266 Key Takeaways 271 Notes 272 Chapter 10 Equity Stubs: Investing (or Speculating) in Leveraged Companies 273 The Approach: Why It Works 275 Uses and Misuses of Investing in Equity Stubs 276 Screening for Equity Stubs 285 Beyond Screening: An Ambulance-Chasing Approach 288 Asking the Right Questions of Equity Stubs 291 Key Takeaways 298 Notes 299 Chapter 11 Global Investing: Searching for Value beyond Home Country Borders 301 The Approach: Why It Works 303 Uses and Misuses of Investing in International Equities 306 Screening for International Equities 314 Beyond Screening: Riding the Coattails of Regional Experts 320 Asking the Right Questions of International Equities 324 Key Takeaways 328 Notes 329 Bibliography 331 About the Author 343 Index 345.