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Value Investing: A Balanced Approach
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Value Investing: A Balanced Approach Hardcover - 1999

by Whitman, Martin J

  • Used
  • Hardcover

Major Wall Street players describe a controversial real-world approach to investing. Martin Whitman and Stanley Garstka teach investors learn how to understand and take full advantage of a host of real-world factors, including public policy and regulation, corporate power plays, mergers and acquisitions, government and corporate finance, and changes at major financial institutions.

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Wiley, 1999-04-21. 1. hardcover. Used: Good.
Used: Good
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Details

  • Title Value Investing: A Balanced Approach
  • Author Whitman, Martin J
  • Binding Hardcover
  • Edition 1
  • Condition Used: Good
  • Pages 296
  • Volumes 1
  • Language ENG
  • Publisher Wiley, New York, NY, U.S.A.
  • Date 1999-04-21
  • Features Index
  • Bookseller's Inventory # SONG0471162922
  • ISBN 9780471162926 / 0471162922
  • Weight 1.23 lbs (0.56 kg)
  • Dimensions 9.27 x 6.27 x 0.97 in (23.55 x 15.93 x 2.46 cm)
  • Library of Congress subjects Investment analysis, Securities
  • Library of Congress Catalog Number 98-44948
  • Dewey Decimal Code 332.6

From the publisher

Die hier vorgestellte Methode des 'Value Investing' (Investitionsentscheidungen nach der Wertanalyse) lost die traditionelle Praxis ubertriebener Preisbeobachtungen ab. Die moderne Unternehmensbewertung wird von einem echten Value-Investor vorgestellt, der bekannt ist fur seine Treffsicherheit beim Kauf von unterbewerteten Unternehmen, die er spater wieder mit betrachtlichem Gewinn verkauft. "Value Investing" zeigt Ihnen, wie Sie von der Informationsvielfalt profitieren, z.B. von Fusionen und Akquisitionen und Unternehmens- oder offentlichen Finanzierungen. Whitman definiert die grundlegenden Faktoren, die den Unternehmenswert und ganze Markte beeinflussen konnen und befurwortet die Abkehr von der herkommlichen Analyse der Preisbewegungen und kurzfristigen Handelszielen.

From the jacket flap

"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

About the author

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.