Economics

100 Baggers: Stocks That Return 100-to-1 and How To Find Them

100 Baggers: Stocks That Return 100-to-1 and How To Find Them

  • Downloads：4233
  • Type：Epub+TxT+PDF+Mobi
  • Create Date：2021-07-27 06:54:03
  • Update Date：2025-09-06
  • Status：finish
  • Author：Christopher W. Mayer
  • ISBN：1621291650
  • Environment：PC/Android/iPhone/iPad/Kindle
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Summary

This book is about 100-baggers。 These are stocks that return $100 for every $1 invested。 That means a $10，000 investment turns into $1 million。 Chris Mayer can help you find them。

It sounds like an outrageous quest with a wildly improbable chance of success。 But when Mayer studied 100-baggers of the past， definite patterns emerged。

In 100-Baggers， you will learn:
-The key characteristics of 100-baggers
-Why anybody can do this （It is truly an everyman's approach。 You don't need an MBA or a finance degree。 Some basic financial concepts are all you need。）
-A number of crutches or techniques that can help you get more out of your stocks and investing

The emphasis is always on the practical， so there are many stories and anecdotes to help illustrate important points。

You should read this book if you want to get more out of your stocks。 Even if you never get a 100-bagger， this book will help you turn up big winners and keep you away from losers and sleepy stocks that go nowhere。

After reading 100-Baggers， you will never look at investing the same way again。 It will energize and excite you about what is possible。

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Reviews

Devin Ford ，

I appreciate the author's thorough research， but I feel like 40% of this book was quoted and paraphrased from other books。 Regardless， it did help shift me into a long-term mindset when it comes to investing and I feel like it will benefit me down the road。 For that reason it was worth the read， but I wouldn't recommend。 I appreciate the author's thorough research， but I feel like 40% of this book was quoted and paraphrased from other books。 Regardless， it did help shift me into a long-term mindset when it comes to investing and I feel like it will benefit me down the road。 For that reason it was worth the read， but I wouldn't recommend。 。。。more

Brian Nguyen ，

Short fun read。 Reinforces a lot of lessons that kind of gets lost in the day to day noise of markets。

Albert Val ，

It seems difficult to imagine companies returning x100 over your investment， but there are many examples in history （Amazon， Netflix， Monster， etc。）。 In this book， the author tries to provide some guidance on what to look at to identify this type of companies， based on how companies have become a 100 bagger in the past。 Focus on uniqueness， new products， methods， materials， etc。 that provide a high growth over multiple metrics。

Rajasekhar Reddy ，

Did not really connect with the narrative of the book。 Although chapters 4，5，6，8 had very good case studies（all of them are in the US markets）， discussing about the common traits that we generally see in 100 baggers over 20-30 year time frames and chapter 15 covers the summary of the book， which is a must read in my opinion， to create your own checklist of criterias for your personalised investment strategyThere are many statistics discussed all along the way， with many quotes， book recommendati Did not really connect with the narrative of the book。 Although chapters 4，5，6，8 had very good case studies（all of them are in the US markets）， discussing about the common traits that we generally see in 100 baggers over 20-30 year time frames and chapter 15 covers the summary of the book， which is a must read in my opinion， to create your own checklist of criterias for your personalised investment strategyThere are many statistics discussed all along the way， with many quotes， book recommendations but most of the take aways are discussed pretty much in any book on fundamental investing。 。。。more

CAPTAINPIG ，

For those who hasn't been sting by bad losses due to trading - this is the book that you should read to minimise yr losses and maximise your returns。 While it will not tell you which is the next 100bagger ， it will give you a glimpse of history how past 100bagger are made of and what characteristics to look put for。 Clearly I feel it is better than those trading books - to make you a little bit down to earth and search & invest the next 100bagger business instead of panicking over daily stock pr For those who hasn't been sting by bad losses due to trading - this is the book that you should read to minimise yr losses and maximise your returns。 While it will not tell you which is the next 100bagger ， it will give you a glimpse of history how past 100bagger are made of and what characteristics to look put for。 Clearly I feel it is better than those trading books - to make you a little bit down to earth and search & invest the next 100bagger business instead of panicking over daily stock price！ 。。。more

Austin ，

Hit me up if you have any 100 baggers up your sleeves =）

Jeff ，

Mayer outlines a qualitative framework for identifying likely winners in the future based largely on retrospective analysis of companies that appreciated at least 100x after their IPO。 Although he acknowledges the inevitability of hindsight and survivor biases embedded in this approach， he doesn’t propose potential mitigations。 Although he details many potential criteria based on shared attributes of past success stories， he doesn’t spend much energy on mental hacks for “doing nothing” after buy Mayer outlines a qualitative framework for identifying likely winners in the future based largely on retrospective analysis of companies that appreciated at least 100x after their IPO。 Although he acknowledges the inevitability of hindsight and survivor biases embedded in this approach， he doesn’t propose potential mitigations。 Although he details many potential criteria based on shared attributes of past success stories， he doesn’t spend much energy on mental hacks for “doing nothing” after buying shares of a potential 100-bagger that meets the investment criteria。 In my opinion， neglecting to include a chapter on this psychology would’ve made the book a 5-star read。 Nonetheless， it is definitely a book I will revisit often。 。。。more

Piotr Kafel ，

“Over the course of an investing life， stuff is going to happen—both good and bad—that no one saw coming。 Instead of playing the guessing game， focus on the opportunities in front of you。 And there are always， in all markets， many opportunities。"I love this book。 The study of 100 baggers is an interesting topic。 From one side book gives you a lot of hope that it is not that hard to find 100 baggers。 On the other hand there is no magic formula that can make it easier for you to identify them。 The “Over the course of an investing life， stuff is going to happen—both good and bad—that no one saw coming。 Instead of playing the guessing game， focus on the opportunities in front of you。 And there are always， in all markets， many opportunities。"I love this book。 The study of 100 baggers is an interesting topic。 From one side book gives you a lot of hope that it is not that hard to find 100 baggers。 On the other hand there is no magic formula that can make it easier for you to identify them。 There are however patterns - high growth， owner led with skin in the game， reinvesting profits， extensive moat etc。 Mr Mayer did a great job explaining all of them in the book in an easy to understand and entertaining manner。“I read every day somebody， somewhere writing about QE or interest rates or the dollar。 They are mostly rehashing the same old narrative: “When QE stops， stocks will fall。” “The dollar is going to collapse！” “When interest rates go up， stocks will fall。” I mean， for crying out loud， how much more can you read about this stuff？"Now all I need to do is identify some interesting companies， put them into a "coffee can" and let's see where I will be in 20 - 30 years！ 。。。more

Ethan Lambert ，

Absolutely Useless， the book is filled with examples of Survivorship Bias。 He just highlights various eg of stocks which done well over the years to push 'Buy & Hold' or as per him 'Buy & Forget'。No analysis whatsoever， forget macro he does not identify screeners one must follow to identify Multi baggers。Avoid at all cost。Genuinely surprised with the popularity of this book。 Absolutely Useless， the book is filled with examples of Survivorship Bias。 He just highlights various eg of stocks which done well over the years to push 'Buy & Hold' or as per him 'Buy & Forget'。No analysis whatsoever， forget macro he does not identify screeners one must follow to identify Multi baggers。Avoid at all cost。Genuinely surprised with the popularity of this book。 。。。more

Adam Lund ，

Buy fast growing companies with large addressable markets and good management。 Then hold for 25 or 30 years。

João Cortez ，

Short and somewhat high-level overview of stocks that returned 100 times the investment over a period of 10-30 years。

Nicolas Barbin Selander ，

Wonderfull book， so much wisdom distilled into easy and comprehensible nuggets。 There is no magic formula， but this will aid your mindset in your quest for 100 baggers。

Kaspars Koo ，

Seems better than most other investing books I have read so far。

Chee Hwa Ng ，

A very good reminder for all of us to buy right and sit tight。 Avoid selling unless you realize you’ve made a mistake。 Because holding on is the only way to ensure that the compounding effect continues to work for us。

Beena Samtani ，

Very basic， high level and doesn’t give you enough depth。

Ankit Desai ，

Straightforward， practical and easy to understand/ implement。 A great read for anyone looking to sharpen their investment philosophy。

Gerardo Duran ，

A truly great experience if you want to start reading about investing。 It describes characteristics of astonishing investments and what they have in common with both anecdotical and empirical research。 It manages to keep it simple while laying great value in its lessons。

Brad Bevers ，

Good read with some good ideas for investing。 The big takeaway from this book for me is that you should look for investments that you are comfortable holding for decades that have a chance of becoming fantastic investments。 The author has analyzed and found 365 stocks that have gone up over 100x and tries to find some common principles that investors can look for。 Good read， and will lead to some other books and hopefully some great investment ideas。

Library of ，

Read this book a couple of years ago and found it helpful as well as entertaining。 Will insert my notes below - hopefully it can help anyone on decising whether to buy the book。 A stock that for every $1 invested gives $100 back is called a “100-bagger”。 For this book， Christopher Mayer and his publishers have invested $50k in creating a database of circa 400 such companies on the US market during the period 1962–2014 （dividends reinvested）。 Companies with market capitalizations of less than $50 Read this book a couple of years ago and found it helpful as well as entertaining。 Will insert my notes below - hopefully it can help anyone on decising whether to buy the book。 A stock that for every $1 invested gives $100 back is called a “100-bagger”。 For this book， Christopher Mayer and his publishers have invested $50k in creating a database of circa 400 such companies on the US market during the period 1962–2014 （dividends reinvested）。 Companies with market capitalizations of less than $50m in today’s dollars is excluded。SMALL COMPANIES。 For the group of 100-baggers， the median revenue was $170m at the starting point and the median market capitalization was $500m。 The statistics also shows that 68% of the sample had a market capitalization below $300m。YEARS TO 100X。 The data shows that 16% of the sample developed 100x in less than 15 years， 49% between 16-30 years， 31% between 31-45 years and 4% between 46-60 years。 Examples of 100-baggers are Franklin Resources （4。2 years）， Valeant Pharmaceuticals （6。5 years）， Dell （7。2 years）， Monster Beverage （9。5 years） and EA Electronics （14 years）。SHORTER CYCLES。 In the 1960s， the average life expectancy of a company on the S&P 500 was 60+ years。 In the last ten years， that figure has dropped to 15 to 20 years。 Mauboussin has studied 68 global industries （over 5，500 companies） and concluded that some industries are better at creating value than others。 For example， the beverage industry is stable and changing slowly – soft drink trends are not greatly affected by the internet。 The lifetime of the assets differs between industries: IT 7 years， Healthcare 11 years， Consumer goods 12 years， Groceries 15 years， Industrials 15 years， Telecom services 16 years， Energy 18 years， Materials 19 years and Utilities 29 years。MULTIPLE EXPANSION。 The largest stock increases have come from long periods of profit growth or from forgotten / “beaten-down” shares， which， after a year of losses， turn into profits。 Buffett wrote in his shareholder letter in 1981: “While investors and managers must place their feet in the future， their memory and nervous system often remain plugged into the past”。 Temporary problems can result in price bargains。GROWTH IS KEY。 All other things being equal， a 20% compounder at P/E 20 is a better buy in the long run than a 10% compounder for P/E 10。 In 1962， Pepsi had revenues of $192m， which in 2014 had increased to $64bn。 Net profit had increased from $15m to over $6bn。 The share price increased 1，000x through a multiple expansion。THE TWIN ENGINE。 Monster Energy’s （ME） profits increased 25x， but as a result of higher earnings multiples， the stock price increased 125x。 It is the combination of profit growth and multiple expansion that creates a really high return。 When ME introduced its sports drink in 2002， growth had been negative for two years。 In 2001， earnings per share were 4 cents and the share was valued at P/E 10。 In 2006， earnings per share were $1 and the P/E was 50。“Extraordinary performance comes only from correct non-consensus forecast。 Extreme predictions are rarely right， but they’re the ones that make you the big money”MANAGEMENT IS THE ALCHEMIST。 Thorndike writes in the book Outsiders that the top executives know that: （1） capital allocation is the CEO’s most important job， （2） cash flow， not profits， determines value， （3） decentralized organizations promote entrepreneurship， （4） independent thinking is necessary for long-term success， （5） sometimes it is best to own your own stock and （6） patience is important in acquisitions， just like courage。 Many of the 100 baggers repurchased their own shares when the valuation was low， which leveraged profit growth。ROIC DRIVES “COMPOUNDERS”。 Over time， it is difficult for a stock to yield much higher returns than the underlying value growth。 Buffett has said that a truly fantastic company must have a permanent “moat” that protects the excess return on invested capital。 This moat can be created by strong brands， replacement costs， network effects， cost advantages and economies of scale。“If the business earns 6% on capital over 40 years and you hold it for that 40 years， you’re going to make much different than a 6% return – even if you originally buy it at a huge discount。 Conversely， if a business earns 18% on capital over 20 or 30 years， even if you pay an expensive looking price， you’ll end up with a fine result” – Charlie MungerKELLY ON POSITION SIZING。 John Kelly Jr invented the risk taker’s theory of relativity， （BP-Q） / BS， with the purpose of creating maximum returns。 B is the odds minus 1， P is the probability of winning and Q is the probability of failure （1-p）。 If the odds are 2。0 for a coin single to show head， and the coin is skewed and has a 52% chance of landing on head， the formula looks like this: P = 0。52， Q = 0。48 and B = 2-1 = 1。 This gives （0。52×1 – 0。48） / 1 = 0。04。 Kelly’s formula recommends investing 4% of the ‘portfolio’。 A “Half-Kelly” means that you bet half of that to reduce the variance。 。。。more

Value investor ，

One of the best and well written books on how you can value invest。 Forget about the market noise and invest in the best company you could find in the market and wait patiently。 Highly recommended。

Siddharth Gupta ，

There are books that are hardily prescriptive。 This one is not。 Surprisingly the ball is set rolling to an Indian study of 100-Baggers by the broking giant - Motilal Oswal。 And then backed by Thomas Phelps' work。 Both quantitative as well as qualitative parameters which could help in successfully pruning the losers from the bunch are detailed。 Among the many nuggets of wisdom， one thing stood out for me in the book - 'the idea that boredom destroys wealth'。 Meaning that tinkering and fidgeting w There are books that are hardily prescriptive。 This one is not。 Surprisingly the ball is set rolling to an Indian study of 100-Baggers by the broking giant - Motilal Oswal。 And then backed by Thomas Phelps' work。 Both quantitative as well as qualitative parameters which could help in successfully pruning the losers from the bunch are detailed。 Among the many nuggets of wisdom， one thing stood out for me in the book - 'the idea that boredom destroys wealth'。 Meaning that tinkering and fidgeting with portfolios is largely undertaken to offset boredom than because of any well-thought out consideration。 Its a very non-obvious idea， but with some thinking becomes remarkably apparent。 If nothing else， this idea is worth its place on the fund manager's bathroom mirror。The book is extremely well edited。 One of those books where an earnest effort is put forth to compress the book to a few usable pearls of wisdom。 Explanations are not overdone。 Every chapter can be read in isolation。 Every point worth remembering from the book is summarised by the author as the final act。 What a book。 Cannot recommend this enough。 。。。more

Alejandro Farre ，

Easy to read and very interesting。

Tirath ，

Not as good as other investment books。But very easy to read and the core ideas of rationality and long term investing are found again in this book。 What's always interesting is how boring， long and volatile a journey to a 100x can be。Good book for the shelf。 Not as good as other investment books。But very easy to read and the core ideas of rationality and long term investing are found again in this book。 What's always interesting is how boring， long and volatile a journey to a 100x can be。Good book for the shelf。 。。。more

Ivan Kuznetsov ，

Is clearly on top 10 my favourite investment books。

Tab Williams ，

A pretty intuitive book about 100 baggers that essentially argues you need the patience to hold and the luck to buy in early。 I wish I read it earlier in my career as most is self explanatory and fairly introductory。 A good reminder nonetheless。 I would include this is a "starter pack" kit going forward。 A pretty intuitive book about 100 baggers that essentially argues you need the patience to hold and the luck to buy in early。 I wish I read it earlier in my career as most is self explanatory and fairly introductory。 A good reminder nonetheless。 I would include this is a "starter pack" kit going forward。 。。。more

Tadas Talaikis ，

Well， the whole recipe is "to find them"。 There is much better defined one by 2 rules by Richard Koch: The Star Principle: How It Can Make You Rich Well， the whole recipe is "to find them"。 There is much better defined one by 2 rules by Richard Koch: The Star Principle: How It Can Make You Rich 。。。more

Bhuvanesh Kandasamy ，

The book emphasizes on how to identify 100 baggers to invest。 Some of the main factors includes size， quality of management， longevity， growth potential and understanding of the business。Size - Inorder for a stock to become a 100 bagger it should be relatively small so that it can turn out to be bigQuality of management - We should look for good management which boosts shareholder value。 It is ideal to look for management with more 'skin in the game' as they tend be more responsible in allocatin The book emphasizes on how to identify 100 baggers to invest。 Some of the main factors includes size， quality of management， longevity， growth potential and understanding of the business。Size - Inorder for a stock to become a 100 bagger it should be relatively small so that it can turn out to be bigQuality of management - We should look for good management which boosts shareholder value。 It is ideal to look for management with more 'skin in the game' as they tend be more responsible in allocating capital。Longevity - We should be patient and allow time to be our friend。 More the time， better for compounding to do its miracles。Growth potential - We should understand the growth potential of any business in a realistic manner。 More the growth potential， the better。 Also it is better if management can reinvest the profits in its underlying business and generate consistent growth。Understanding of business - Never invest on things you do not understand。 With the amount of disruptions happening in the technological era， More time should be dedicated to identify the moat of each business。 The bigger the moat， the business is more likely to survive。The last and most important takeaway of the book is patience。 I personally liked the ideology of 'Never break your investment for an investment purpose'。 Identify good stocks in a fair price and put them in a coffee can and forget about it。 Let compounding do its miracle and one day you might get a 100 bagger。 。。。more

Michael Gray ，

3。5/5。 A bit redundant， but almost out of necessity， as the author distills his points down and reiterated them so that you can't leave this book not understanding what you need to do if you want to chase big returns on individual stocks。 Very short and worth the time。 I thought there could have been more examples， but loved the wisdom from Keynes and Buffet/Munger。 I plan to shape up my investment strategy after reading this， which means it was well worth it。 3。5/5。 A bit redundant， but almost out of necessity， as the author distills his points down and reiterated them so that you can't leave this book not understanding what you need to do if you want to chase big returns on individual stocks。 Very short and worth the time。 I thought there could have been more examples， but loved the wisdom from Keynes and Buffet/Munger。 I plan to shape up my investment strategy after reading this， which means it was well worth it。 。。。more

Chingyongbooklover ，

one of the best stock books ive read。not a cliche / bs authorvery practical。 i have confidence now what a 10， 20， 50 100 bagger looks like so i can avoid overly grown stocks and focus on solid ones with potentially。 hopefully catch the next amazon early :）

David Rosage ，

This book provided some powerful ideas for creating big wins over the long run。

Reference

google book https://www.google.com/search?tbm=bks&q=100 Baggers: Stocks That Return 100-to-1 and How To Find Them

hathitrust digital library https://babel.hathitrust.org/cgi/ls?q1=100 Baggers: Stocks That Return 100-to-1 and How To Find Them&field1=ocr&a=srchls&ft=ft&lmt=ft

The British Library https://bll01.primo.exlibrisgroup.com/discovery/search?query=any,contains,100 Baggers: Stocks That Return 100-to-1 and How To Find Them&tab=LibraryCatalog&search_scope=Not_BL_Suppress&vid=44BL_INST:BLL01&lang=en&offset=0