Bogumil Baranowski is a New York City-based value investor, author, and investment professional with over a decade of experience. He works at Tocqueville Asset Management, where he is the founder and portfolio manager of a private investment fund. He was born in Poland, educated in Paris and Brussels. He enjoys making a difference in people’s lives through writing and teaching. He is the author of Outsmarting the Crowd: A Value Investor’s Guide to Starting, Building, and Keeping a Family Fortune.
Bogumil Baranowski – Outsmarting The Crowd
Outsmarting the Crowd: A Value Investor’s Guide to Starting, Building, and Keeping a Family Fortune – Description
Outsmarting the Crowd: A Value Investor’s Guide to Starting, Building, and Keeping a Family Fortune by Bogumil K. Baranowski
ValueWalk's Raul Panganiban with Maurits Pot, Founder and CEO of Dawn Global. Before this he was Partner at Kingsway Capital, a frontier market specialist with over 2 billion AUM. In the interview, we discuss his approach to investing and why investors should look into frontier and emerging markets. Q2 2021 hedge fund letters, conferences and Read More
We are wired to fail with money and investing.
Do You Have $1 on You? BEFORE YOU START READING, please reach for your wallet. Take out a one-dollar bill. Do you have it? Look at it, hold it up, put it in front of you.
Now imagine you save $1 each month (which few do). Imagine that your $1 earns 7% annually on average over thirty years. At the end of the thirty years you will have almost $1,200.
Needless to say, if you put away $1,000 each month, you’d have almost $1.2 million in thirty years.
It’s secondary if you are just starting your family fortune–or if you already have it and want to keep it and grow it.
If you do nothing with that dollar, inflation will eat away at its value. It will be worth less than two quarters in twenty-five years and less than a single quarter in fifty years and a nickel in one hundred years.
Can you afford to do nothing? Do I have your attention?
Most books misinform, or intimidate the reader, and often are not backed by real life experience.
This book is a one of a kind, comprehensive, straightforward, and easy to follow guide to investing. It’s written by an experienced investor trained in the value investing, Buffett-Graham school of thought.
Like no other book, it covers both the intellectual and emotional discipline needed to be a successful investor. It provides the proper philosophy, shows the path, and emphasizes the principles required to keep and grow your wealth over a lifetime.
“Over more than a decade, Bogumil has assiduously assembled a set of rules from the writings and the speeches of the world’s most lastingly successful investors: these rules have become his chosen investment discipline. […] He has written a great road map for young investors as well as a thoughtful and very readable guide to spare older neophytes the most common investment mistakes.” — François D. Sicart, Founder and Chairman of Tocqueville Asset Management.
“Now comes his book. Obviously, Bogumil was augmenting what we were teaching him over the years about the investment process with extensive readings by the great thinkers on this subject. Unlike some of these tomes, however, Bogumil’s “Outsmarting the Crowd” is an easily digestible, common sense approach to a subject that is too often wrapped in jargon made to make it appear more difficult and less intuitive than it actually is.” — Robert W. Kleinschmidt, President, Chief Executive Officer and Chief Investment Officer of Tocqueville Asset Management.
Outsmarting the Crowd: A Value Investor’s Guide to Starting, Building, and Keeping a Family Fortune – Review
“Outsmarting the Crowd is a guide that gently initiates you onto the path of successful investing. Baranowski has a clear and unpretentious style and his genuine passion to help others shines through the pages. […]The book is structured around three pillars: philosophy, path and principles. It starts out with a terrific chapter about developing the basics of an Investment Philosophy and then transitions into a middle section with life advice, which could be useful if you are a millennial and starting or early into your career. The book then finishes with Baranowski’s principles. […] The chapter on How To Value A Business, which is part of the principles, is my favorite chapter of the book. […] There are many valuable lessons in here and Baranowski doesn’t waste time with a lot of fluff. However, do not expect a model or how-to because you are given a fishing rod, not fish.” – Bram de Haas, Seeking Alpha
“Retail investors have been fleeing U.S. stocks, in part I suspect because they don’t understand that over time, despite all its gyrations, the stock market has been the best place to “grow money.” […]Although it doesn’t break new ground, it offers a clear, easy to follow account of the merits of investing in general and the principles of value investing. […] Along the way it echoes the kind of lifestyle advice we have heard from the likes of Warren Buffett and Charlie Munger.” – Brenda Jubin, ValueWalk & Reading the Markets
"Outsmarting the Crowd: A Value Investor's Guide to Starting, Building, and Keeping a Family Fortune by Bogumil K. Baranowski is a non-fiction book that states that normal individuals are wired to fail when it comes to money and investment choices. The author sets forth a group of "rules" he has assembled over the last ten years from the world's most successful investors. [...] While many other books covering this topic can be confusing, or can misinform, intimidate, or do not draw from real, personal experience, that is not the case in this book. That's what makes this book so unique and one of a kind. The writing is very straightforward, comprehensive, and easy to follow, especially for readers who might not be the most well versed when it comes to complicated investment or financial terms. It covers the emotional aspect of investing, which is a very interesting concept and one that most readers probably are not familiar with from other books." - Janella Fila, Readers' Favorite (5 Stars)
Outsmarting the Crowd: A Value Investor's Guide to Starting, Building, and Keeping a Family Fortune by Bogumil K. Baranowski