Please note: This is a companion version & not the original book. Sample Book Insights: #1 The central theme of this book is that the ability to read market expectations and anticipate revisions of those expectations is the springboard for earning superior long-term returns. Stock prices express the collective expectations of investors, and changes in those expectations determine investment success. #2 Expectations investing is a practical application of corporate finance principles that many companies have used for decades. It incorporates the concepts of value creation and competitive strategy analysis. #3 The disappointing performance of professionally managed funds is not an indictment of active management, but rather reflects the suboptimal strategies used by many active professionals. #4 Expectations investing draws from finance theory to pinpoint the market's expectations. It then taps appropriate competitive strategy frameworks to help investors anticipate revisions in expectations.