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|Contrarian Investment Strategies: The Next Generation, by David Dreman. If you want to "buy low and sell high," first you have to ask yourself what makes high stock prices high and low prices low. Dreman, who is more responsible than anyone else for popularizing the term "contrarian" as an investment approach, has spent a career writing about the ebbs and flows of investor psychology which, as he has convincingly shown in this and earlier books, play a prominent role in stock price swings. In 1977 he wrote the classic Psychology and the Stock Market, in 1980 he authored The New Contrarian Investment Strategy, and in his latest (1998) work, Contrarian Investment Strategies: The Next Generation, he continues his efforts documenting investors' tendencies to irrationally undervalue unpopular companies (the "lows") and overvalue popular ones (the "highs"). As the reader of this highly informative book will undoubtedly conclude, Dreman is most comfortable with a strategy of purchasing low price/earnings stocks--which represents his way to buy low. And since you have to buy low before you can sell high, this is a very valuable book.||
"That rarity--an extremely readable and useful book that will be of great value to both the layman and the professional."
"Must reading for everyone. Contrarian Investment Strategies will be a permanent addition to your library."
(The above two reviews pertain to the 1980 edition of this book.)