Thanks for bringing Michael Mauboussin up. I am a huge fan.
Sometimes, just one incremental key concept is all we need for a level jump!
Expectations Investing is one such.
That Expectations are all in-built in the price. And that only if Business Performance exceeds these expectations, will there be good to great investment returns. And therefore, we always like to look for and/or prioritise investment prospects that seem to indicate big Price-Performance GAPS for the near and medium term.
Not sure if i bought the book. Bust sure as hell I mopped up all I could from http://www.expectationsinvesting.com/
if there is one thing I incorporated it is the PIE - Price-Implied-Expectations calculations in may base Excel
http://www.expectationsinvesting.com/tutorial9.shtml
I find Maubuussin - the way he elucidates key concepts as very tangible, insightful, and easy to put into practice. It might not be an exaggeration to mention that after reading the top 5 books MOST of my incremental learning has been thru the easily accessible Michael Mauboussin published work at Credit Suisse. Thanks for bringing that up!!
Essential Reading for any maturing investor!
For those interested in a ramp up/sharpening the saw on key investing concepts, nothing more valuable than this whole compendium available here (and you can directly search at Credit Suisse site later, as you get hooked)