Thursday, September 28, 2006

Davis Dynasty - Book Review

The Davis Dynasty: 50 Years of Successful Investing on Wall Street

What Is It About?

This book is about Shelby Davis. Mr. Davis started with $50,000 in the late forties and by the mid 90's had increased that amount to several hundred million primarily investing in insurance stocks. It is biographical with some discussion of his investment process. The book also discuss the second and third generation of Davis' who have done well in money management; Chris Davis is the most well known of the current generation.

What Did I Learn As A New Investor?

The book is more biographical than investment process oriented. Besides getting an insight into the habits and methods of an obviously successful investor, the best thing about this book is the final chapter where the author reviews a 10 point check list that captures the Davis Dynasty thoughts on investing.

The Good News

Interesting story of a successful investor in the value-growth, buy and hold camp. If you ever wondered how/what Buffett would have done if he just managed his own money this gives you a good idea. The final chapter provides a overview of Davis’ investment process.

The Bad News

The book is not an engaging read. The best part is the last chapter. If you do not like biographies, then you should just skip to the last chapter, make a copy, and peruse it.

The Bottom Line

For those who like biographies, value may be found reading this book. For others, skip ahead to the last chapter. Either way I recommend you check this book out from the library.