This book was written in the late 90's and Dreman's advice was mostly right on back then and now. Dreman tackles the topic of investing from three angles:



1) He emphasizes value investing principles by suggesting that investors look at financial and ratios such as low PE and high cash flow/share. He recommends staying away from sexy growth stocks. This is noteworthy considering that he was writing this stuff during the dot com mania. He obviously was not influenced by the hype.



2) He also introduces readers to the field of behavioral economics. Any value investor should be familiar with the psychology involved in investing.



3) He also cites lots of statistics on stocks and bonds from the past 100 years to prove his points.



With regards to any of the above topics, I believe Dreman does a fine job, but there are better books out there that tackle these issues. For financial analysis and investing based on fundamentals, for example, Greenwald's "Value Investing" is a much better value. For historical analysis, Dreman cites lots of exhausting data from Jeremy Siegel's book. It is important to know history but I do not agree with his conclusions. After all, Dreman, himself, admits that past performance is no indication of the future. Yet he tries to prove that in the long run, stocks beat bonds. If you are interested in historical analysis, I recommend "Bull", a book also recommended by Warren Buffett.



Dreman also fails to discuss index investing. He does have a multi billion dollar mutual fund that he manages.



Overall, good advice mostly - needed to be shorter.