PDF The Art of Investing

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Finance & Economics Finance

The Art of Investing

Lessons from History's

Greatest Traders

Course Guidebook

Professor John M. Longo

Rutgers Business School

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John M. Longo, Ph.D., CFA

Professor of Professional Practice in the Finance & Economics Department Rutgers Business School

John M. Longo is a Professor of Professional Practice in the Finance & Economics Department at Rutgers Business School, part of Rutgers, The State University of New Jersey. He also has served for multiple years as a visiting professor of finance at EMBA-Global-- the joint international Executive MBA program of Columbia Business School, London Business School, and The University of Hong Kong. A Chartered Financial Analyst (CFA), Professor Longo earned a B.A. in Computer Science and a B.A. in Economics as well as a Ph.D. and an M.B.A. in Finance, all from Rutgers University. He is a two-time award winner for innovative teaching at Rutgers Business School.

Professor Longo has 20 years of professional investment management experience. Since 2015, he has served as chief investment officer and portfolio manager for Beacon Trust, a registered investment advisor with 2.5 billion dollars under management. Beacon is a subsidiary of Provident Financial Services (NYSE: PFS), founded in 1839. Professor Longo served as chief investment officer and portfolio manager for The MDE Group from 2002 until its acquisition by Beacon Trust at the end of 2014. He also

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previously worked at Merrill Lynch as a vice president in a quantitative unit of the firm. Professor Longo has appeared on CNBC, Bloomberg Television, Bloomberg Radio, Fox Business Network, BBC World News, , , The Insana Quotient with Ron Insana, and several other programs. He has been quoted in The Wall Street Journal, Barron's, Thomson Reuters, MarketWatch, U.S. News & World Report, , and dozens of other periodicals. Professor Longo is the author/editor of Hedge Fund Alpha: A Framework for Generating and Understanding Investment Performance. He is a member of the editorial board of The Journal of Performance Measurement. Professor Longo also serves as an ad hoc book proposal reviewer for Columbia University Press and has served on the advisory board of Bloomberg's educational subsidiary, Bloomberg Institute. On four separate occasions, he led college students to a personal visit with Warren Buffett.

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Table of Contents

Introduction

Professor Biography.............................................................................i Scope..................................................................................................1

Lecture Guides

Lecture 1 Investing Skill, Strategy, and Temperament3

Lecture 2 Benjamin Graham and Value Investing10

Lecture 3 Warren Buffett: Investing Forever18

Lecture 4 Fisher and Price: The Growth-Stock Investors26

Lecture 5 Harry Markowitz's Modern Portfolio Theory34

Lecture 6 John Bogle, Index Mutual Fund Pioneer42

Lecture 7 Small-Cap Stocks: More Risk, More Reward49

Lecture 8 John Templeton, Global Treasure Hunter57

Table of Contents

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