Quantitative Value, + Web Site: A Practitioner's Guide to Automating Intelligent Investment and Eliminating Behavioral Errors

 They combine academia's best ideas with the ideas of Buffet, Graham, and Thorp, to develop a quant system that performs in markets both good and bad."--Mebane Faber, Author of The Ivy Portfolio and Portfolio Manager for Cambria Investment Management"This book is an excellent primer to quantitative investing. Gray and Carlisle synthesize the lessons of the great value investors to systematically identify high quality value stocks while avoiding common behavioral pitfalls."--Tadas Viskanta, Founder and Editor, Abnormal Returns; Author of Abnormal Returns: Winning Strategies from the Frontlines of the Investment Blogosphere."We seek to marry Ed Thorp's quantitative approach to Warren Buffett's value investment philosophy." That's the approach we take in our Value Investing class at UC Davis and Quantitative Value will become required reading for our class. The book we wish we would have written!"--Lonnie J. Taylor, Man

Kindle Customer said Should be read in tandem with "What Works on Wall Street". As far as I know, the only investing books to mesh quantitative investing and value investing have been "What Works on Wall Street," "The Little Book That Still Beats the Market," and "Ben Graham Was A Quant." "Quantitative Value" shares a lot in common with "What Works on Wall Street," and improves on "The Little Book." In fact, this was probably one of the best investing books I've ever read, combining the tried-and-true approach of value inves. Amazing.but flawed? bjorn The book is fantastic. Well written, extensive research with a clear thought process. This is likely the best value investing process I have seenbut there is one problem.you can't actually implement it.- The screens are extremely complex and rigorous (which is why they work so well). But you would need a pretty intense and expensive database to actually be able to implement it.- They provide a website to do it for you (yay!). However, the website. "Valuable book for value investors" according to Edward O. Darling, Jr.. Quantitative Value provides a detailed analysis of value-based metrics for evaluating stocks in relation to intrinsic value. The authors present back tested results for the Enterprise Multiple, the Magic Formula and Price-to-Book in relation to the S&P 500 to identify relative alpha. They also analyse and recommend a number of measures to detect financial fraud. They conclude that an approach that applies simple, proven valuation metrics to ident

Gray and Carlisle look at long term returns on capital and assets, free cash flow, and a variety of metrics related to margins and general financial strength. 3) The secret to finding deeply undervalued stocks: Does the price-to-earnings ratio find undervalued stocks better than free cash flow? Gray and Carlisle examine the historical data on over 50 valuation ratios, including some unusual metrics, rare multi-year averages, and uncommon combinations. 4) The five signals sent by smart money: The book uncovers the signals sent by insiders, short sellers, shareholder activists and institutional investment managers. After detailing the quantitative value investment process, Gray and Carlisle conduct a historical test of the resulting quantitative value model. Their conclusions are surprising and counter-intuitive.  The book includes a companion website that offers a monthly-updated screening tool to find stocks using the model outlined in the book, an updated back-testing tool, and a blog about recent developments in quantitative value investing. While Buffett and Thorp have conflicting philosophical approaches, they agree that the market is beatable. In Quantitative Value, Wesley Gray and Tobias Carl