Investing basics2001, rev. 2021
Expectations Investing
Michael J. Mauboussin and Alfred Rappaport
Teaches how to read the expectations already embedded in a stock price and judge what a company must deliver for the investment to work.
Quotes
Practical lesson: understand the business before the ticker.
Practical lesson: separate market price from economic value.
Practical lesson: test the thesis against evidence.
Practical lesson: build a process before committing capital.
These are practical paraphrases, not verbatim quotations.