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List Price: $49.95
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Product Details:
Type: Hardcover
Item#: C5327
ISBN#: 0471162922
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When the bubble bursts, these people will come out on top
Value Investing: A Balanced Approach
by Martin J. Whitman
They are the value investors. Value investors aren't concerned about market cycles. Bear or bull, they're always making money. That's because they know how to determine a business's true worth using real world factors such as public policy and regulation... corporate power plays...
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mergers and acquisitions...government and corporate finance...changes at major financial institutions... restructuring of troubled companies...stockholder litigation... corporate share repurchase...leveraged buyouts...initial public offerings...and hostile takeovers.
Now you can be a value investor too. Here's the course that gets you going. Your instructor: Martin J. Whitman, chairman of Whitman Heffernan & Rhein and manager of the highly successful Third Avenue Value Fund. This remarkable book is an outgrowth of courses taught for many years by Professor Whitman at the Yale University School of Management. Not a new investment fad, not yet another "cutting-edge" technique, value investing is a proven approach to building wealth. Though largely ignored by investment managers, the tools for value investing are used daily by businessmen in their own planning and financing. A broad overview of the book that gives serious investors the winning edge:
- * The 7 fundamental characteristics that set value investing apart from fundamental analysis and other popular methods
- * Why you need to ignore macrofactors such as stock averages, forecasts of interest rates, and GDP and concentrate instead on microfactors that affect a company over the long term
- * How to acquire securities at ultralow prices and restrict investments to high-quality, well-financed companies
- * How to value and take advantage of troubled companies
- * Value investing vs. Graham and Dodd fundamentalism and other conventional approaches. Why these other methods are best for many investors, but NOT for the informed value investor
"Essential reading ... in today's turbulent markets"
"A must read for all thoughtful investors interested in a rational, disciplined, risk-averse template for successful lone-term compounding. Bravo, Marty."--O. Mason Hawkins, chairman and CEO, The Longleaf Partners Funds
"This author knows whereof he speaks. His many years of extremely successful experience as a professional manager of investments, his academic training, and his period of teaching at a major university all make their mark on this illuminating volume. It reveals how a bright, analytically minded person with extensive practical experience studies and evaluates investments."--William Bon, professor emeritus, Princeton University
"This book by an experienced and practicing master is a treasure and a reference book on how to think and feel like an owner of a business without the headache of running it day to day."--Papken Der Torossian, chairman and CEO, Silicon Valley Group
"Marty Whitman is one of the country's savviest investors but also a great intellect. This book ... is essential reading for anyone in today's turbulent markets."--Jeffrey Garten, dean, Yale School of Management
"Marty Whitman is renowned for his uncanny instincts and insights in picking bargains in stocks and bonds. His book 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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Not Rated Chuck Halverson
"Essential reading ... in today's turbulent markets"
"A must read for all thoughtful investors interested in a rational, disciplined, risk-averse template for successful lone-term compounding. Bravo, Marty."--O. Mason Hawkins, chairman and CEO, The Longleaf Partners Funds
"This author knows whereof he speaks. His many years of extremely successful experience as a professional manager of investments, his academic training, and his period of teaching at a major university all make their mark on this illuminating volume. It reveals how a bright, analytically minded person with extensive practical experience studies and evaluates investments."--William Bon, professor emeritus, Princeton University
"This book by an experienced and practicing master is a treasure and a reference book on how to think and feel like an owner of a business without the headache of running it day to day."--Papken Der Torossian, chairman and CEO, Silicon Valley Group
"Marty Whitman is one of the country's savviest investors but also a great intellect. This book ... is essential reading for anyone in today's turbulent markets."--Jeffrey Garten, dean, Yale School of Management
"Marty Whitman is renowned for his uncanny instincts and insights in picking bargains in stocks and bonds. His book 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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