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Explore the modern extension of value investing in this essential text from "the guru to Wall Street’s gurus"The substantially rewritten Second Edition of Value Investing: From Graham to Buffett and Beyond delivers an incisive and refined approach to investing grounded on almost 100 years of history, beginning with Graham and Dodd. Founded on the value investing course taught for almost twenty-five years by co-author Bruce Greenwald at Columbia Business School, the book helps investors consistently land on the profitable side of the trade.Readers will learn how to search for underpriced securities, value them accurately, hone a research strategy, and apply it all in the context of a risk management practice that mitigates the chance of a permanent loss of capital.The new edition includes: Two innovative new chapters discussing the valuation of growth stocks, a perennial problem for investors in the Graham and Dodd traditionNew profiles of successful investors, including Tom Russo, Paul Hilal, and Andrew WeissAn extended discussion of risk management, including modern best practices in an environment where it is often divorced from individual security selectionA substantive expansion of an already highly regarded book, Value Investing: From Graham to Buffett and Beyond is the premier text discussing the application of timeless investing principles within a transformed economic environment. It is an essential resource for portfolio managers, retail and institutional investors, and anyone else with a professional or personal interest in securities valuation and investing.Successful value investing practitioners have graced both the course and this book with presentations describing what they really do when they are at work. Find brief descriptions of their practices within, and video presentations available on the web site that accompanies this volume: www.wiley.com/go/greenwald/valueinvesting2e

The past three decades have been characterized by vast change and crises in global financial markets and not in politically unstable countries but in the heart of the developed world, from the Great Recession in the United States to the banking crises in Japan and the Eurozone. As we try to make sense of what caused these crises and how we might reduce risk factors and prevent recurrence, the fields of finance and economics have also seen vast change, as scholars and researchers have advanced their thinking to better respond to the recent crises. A momentous collection of the best recent scholarship, After the Flood illustrates both the scope of the crises' impact on our understanding of global financial markets and the innovative processes whereby scholars have adapted their research to gain a greater understanding of them.Among the contributors are Jose Scheinkman and Lars Peter Hansen, who bring up to date decades of collaborative research on the mechanisms that tie financial markets to the broader economy; Patrick Bolton, who argues that limiting bankers' pay may be more effective than limiting the activities they can undertake; Edward Glaeser and Bruce Sacerdote, who study the social dynamics of markets; and E. Glen Weyl, who argues that economists are influenced by the incentives their consulting opportunities create.

The past three decades have been characterized by vast change and crises in global financial markets—and not in politically unstable countries but in the heart of the developed world, from the Great Recession in the United States to the banking crises in Japan and the Eurozone. As we try to make sense of what caused these crises and how we might reduce risk factors and prevent recurrence, the fields of finance and economics have also seen vast change, as scholars and researchers have advanced their thinking to better respond to the recent crises. A momentous collection of the best recent scholarship, After the Flood illustrates both the scope of the crises’ impact on our understanding of global financial markets and the innovative processes whereby scholars have adapted their research to gain a greater understanding of them. Among the contributors are José Scheinkman and Lars Peter Hansen, who bring up to date decades of collaborative research on the mechanisms that tie financial markets to the broader economy; Patrick Bolton, who argues that limiting bankers’ pay may be more effective than limiting the activities they can undertake; Edward Glaeser and Bruce Sacerdote, who study the social dynamics of markets; and E. Glen Weyl, who argues that economists are influenced by the incentives their consulting opportunities create.  

Explore the modern extension of value investing in this essential text from "the guru to Wall Street’s gurus"

The substantially rewritten Second Edition of Value Investing: From Graham to Buffett and Beyond delivers an incisive and refined approach to investing grounded on almost 100 years of history, beginning with Graham and Dodd. Founded on the value investing course taught for almost twenty-five years by co-author Bruce Greenwald at Columbia Business School, the book helps investors consistently land on the profitable side of the trade.

Readers will learn how to search for underpriced securities, value them accurately, hone a research strategy, and apply it all in the context of a risk management practice that mitigates the chance of a permanent loss of capital.

The new edition includes:

Two innovative new chapters discussing the valuation of growth stocks, a perennial problem for investors in the Graham and Dodd tradition New profiles of successful investors, including Tom Russo, Paul Hilal, and Andrew Weiss An extended discussion of risk management, including modern best practices in an environment where it is often divorced from individual security selection

A substantive expansion of an already highly regarded book, Value Investing: From Graham to Buffett and Beyond is the premier text discussing the application of timeless investing principles within a transformed economic environment. It is an essential resource for portfolio managers, retail and institutional investors, and anyone else with a professional or personal interest in securities valuation and investing.

Successful value investing practitioners have graced both the course and this book with presentations describing what they really do when they are at work. Find brief descriptions of their practices within, and video presentations available on the web site that accompanies this volume: www.wiley.com/go/greenwald/valueinvesting2e