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Based on interviews with the world's most-successful value investors, The Art of Value Investing — by Value Investor Insight co-founders John Heins and Whitney Tilson — offers a comprehensive set of answers to the questions every equity money manager should have thought through clearly before holding himself or herself out as a worthy steward of other people's money. What market inefficiencies will I try to exploit? How will I generate ideas? What will be my geographic focus? What analytical edge will I hope to have? What valuation methodologies will I use? What time horizon will I typically employ? How many stocks will I own? How specifically will I decide to buy or sell? Will I hedge, and how? How will I keep my emotions from getting the best of me?

Who should read The Art of Value Investing?

It is as vital a resource for the just-starting-out investor as for the sophisticated professional one. The former will find a comprehensive guidebook for defining a sound investment strategy from A-to-Z; the latter will find all aspects of his or her existing strategy challenged or reconfirmed by the provocative thinking of their most-successful peers. It also is a must-read for any investor — institutional or individual — charged with choosing the best managers for the money they are allocating to equities. Choosing the right managers requires knowing all the right questions to ask as well as the answers worthy of respect and attention — both of which are delivered in The Art of Value Investing.


“I often judge a book by how many times I get my highlighter out and dog-ear pages. On that metric, The Art of Value Investing is wonderful — simply packed with insight from some of the best long-term investors. Everyone will learn something important from this book.”

James MontierGMO

“An outstanding addition to the volumes written on value investing. Not only do the authors offer their own valuable insights, but they also provide in one publication invaluable insights from some of the most accomplished professionals in the business. I would call this publication a must-read for any serious investor.”

Leon G. CoopermanOmega Advisors

“I learned the investment business largely from the work and thinking of other investors. The Art of Value Investing is a thoughtfully organized compilation of some of the best investment insights I have ever read. Read this book with care. It will be one of the highest-return investments you will ever make.”

William A. AckmanPershing Square Capital


“John Heins and Whitney Tilson have put together in one package a comprehensive and incredibly well-compiled set of thoughts, many from my favorite peers, on every important topic to active investors.”

Staley CatesSoutheastern Asset Management

“The Art of Value Investing is a must-read for any serious investor. John and Whitney have produced a veritable bible that reveals the secrets of some of the greatest contemporary investment minds in the world.”

Jonathon S. JacobsonHighfields Capital Management

"In this treasure chest of quotes by proven money managers, it is the love of the game and the joy of meeting the challenges put forth by a very demanding business that captivated me. The lessons are like scars, revealed here firsthand."

Jeff Ubben ValueAct Capital