Provides a modern analytical framework for assessing a company's true value
Written by a true value investor known for his ability to buy undervalued companies and re-sell them at a substantial profit, Value Investing provides an analytical framework that evaluates the impact of real events-including restructuring, regulations, mergers and acquisitions, and other important factors-on a company's value.
Well-known for his success with distressed corporations and value investing, author Martin Whitman wages a controversial attack on the modern financial practice of focusing on price movements and short-term trading. In Value Investing, Whitman identifies fundamental factors affecting the value of companies and entire markets from the ground up and takes value investing one step further by demonstrating how industry movement and public policy decisions can lead to greater returns. He also highlights the shortcomings of all the popularly applied analytical techniques.
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MARTIN J. WHITMAN, CFA, is Chairman, CEO, and portfolio manager of the successful Third Avenue Value Fund and the Third Avenue Small Cap Value Fund. A leader in value investing, he is a Management Fellow at the Yale University School of Management.
"Marty Whitman is one of the country's savviest investors but also a great intellect. This book, the outgrowth of his teaching at Yale School of Management, is essential reading for anyone in today's turbulent markets." - Jeffrey E. Garten, Dean, Yale School of Management
An in-depth look at the modern realities of valuing companies, this comprehensive resource offers an antidote to conventional "ivory tower" financial theories. Value Investing shows investors how to use the same valuation techniques as are used in private business and by control investors. It replaces the practice of excessive price watching with a "bottom-up" approach to corporate analysis. Written by seasoned investor Martin Whitman, the book delivers a proven approach to what is a fruitful, yet potentially dangerous venture.
With clear explanations and straightforward guidelines, Whitman gives investors the tools necessary to fully understand and capitalize on the key to successful value investing: accurately valuing a business or valuing the workout potential of troubled companeis. Beginning with a description of what exactly value investing is, Whitman compares it with other investment disciplines, such as academic finance, Graham & Dodd fundamentalism, and conventional research "as it seems to be practiced by most 'sell' side analysts employed by broker/dealer research departments as well as most 'buy' side analysts who manage money."
The key concepts of value investing are then discussed, including corporate valuation, the substantive characteristics of securities, capital structure, promoters' and professionals' compensations, and the uses and limitations of financial accounting and narrative disclosure. Value Investing provides an analytic framework for evaluating the impact of real world factors, such as public policy and regulation, mergers and acquisitions, government and corporate finance, restructuring troubled companies, stockholder litigation, corporate power plays, and corporate share repurchase.
Thorough, accessible, and practical, Value Investing is essential reading for anyone seeking a well-rounded overview of this important topic.
"Marty Whitman is renowned for his uncanny instincts and insights in picking bargains in stocks and bonds. His book, "Value Investing: A Balanced Approach", is a real bargain. To benefit from decades of Marty's experience is invaluable and to have such a commonsense and realistic approach is an extra dividend." - Milton Cooper, Chairman, Kimco Realty Corporation
"Marty Whitman is one of the country's savviest investors but also a great intellect. This book, the outgrowth of his teaching at Yale School of Management, is essential reading for anyone in today's turbulent markets." - Jeffrey E. Garten, Dean, Yale School of Management
An in-depth look at the modern realities of valuing companies, this comprehensive resource offers an antidote to conventional "ivory tower" financial theories. Value Investing shows investors how to use the same valuation techniques as are used in private business and by control investors. It replaces the practice of excessive price watching with a "bottom-up" approach to corporate analysis. Written by seasoned investor Martin Whitman, the book delivers a proven approach to what is a fruitful, yet potentially dangerous venture.
With clear explanations and straightforward guidelines, Whitman gives investors the tools necessary to fully understand and capitalize on the key to successful value investing: accurately valuing a business or valuing the workout potential of troubled companeis. Beginning with a description of what exactly value investing is, Whitman compares it with other investment disciplines, such as academic finance, Graham & Dodd fundamentalism, and conventional research "as it seems to be practiced by most 'sell' side analysts employed by broker/dealer research departments as well as most 'buy' side analysts who manage money."
The key concepts of value investing are then discussed, including corporate valuation, the substantive characteristics of securities, capital structure, promoters' and professionals' compensations, and the uses and limitations of financial accounting and narrative disclosure. Value Investing provides an analytic framework for evaluating the impact of real world factors, such as public policy and regulation, mergers and acquisitions, government and corporate finance, restructuring troubled companies, stockholder litigation, corporate power plays, and corporate share repurchase.
Thorough, accessible, and practical, Value Investing is essential reading for anyone seeking a well-rounded overview of this important topic.
"Marty Whitman is renowned for his uncanny instincts and insights in picking bargains in stocks and bonds. His book, "Value Investing: A Balanced Approach", is a real bargain. To benefit from decades of Marty's experience is invaluable and to have such a commonsense and realistic approach is an extra dividend." - Milton Cooper, Chairman, Kimco Realty Corporation
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Zustand: New. "An excellent book in investments. But, more importantly, this volume is a primer explaining to Main Street, especially Main Street businesspeople, how Wall Street really operates. "--Eugene M. Isenberg, Chairman of the Board, Nabors Industries, Inc. Series: Frontiers in Finance Series. Num Pages: 274 pages, black & white illustrations. BIC Classification: KFFM. Category: (G) General (US: Trade); (P) Professional & Vocational. Dimension: 234 x 163 x 26. Weight in Grams: 610. . 1999. 1st Edition. Hardcover. . . . . Books ship from the US and Ireland. Artikel-Nr. V9780471162926
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Gebunden. Zustand: New. An excellent book in investments. But, more importantly, this volume is a primer explaining to Main Street, especially Main Street businesspeople, how Wall Street really operates. - Eugene M. Isenberg, Chairman of the Board, Nabors Industries, Inc. Value . Artikel-Nr. 446914833
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Buch. Zustand: Neu. Neuware - Mit diesem Buch haben die Autoren einen Meilenstein geschaffen, der das Thema Investment im realen Kontext behandelt. Das, was gegenwärtig an Universitäten mit dem Schwerpunkt Preisentwicklung und Short-term Trading (kurzfristige Investitionen) gelehrt wird, geht nach Auffassung der Autoren weit an der Praxis vorbei. Gewinne aus Investitionen hängen heute vielmehr davon ab, was an der Wall Street geschieht, von Unternehmensrestrukturierungen sowie von Mergern und Akquisitionen. Dieses Buch sagt Investoren, wie sie diese Faktoren interpretieren und nutzen können, um aktiv Gewinne einzufahren. (11/97). Artikel-Nr. 9780471162926
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