Whitman / Shubik The Aggressive Conservative Investor

1. Auflage 2008
ISBN: 978-0-471-77403-7
Verlag: John Wiley & Sons
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 480 Seiten, E-Book

Reihe: Wiley Investment Classics

"The Aggressive Conservative Investor will never go out of date.Regulation, disclosure, and other things may change, but thegeneral approach and mindset to successful investing are timeless.Read this book and you will learn the rudiments of 'safe and cheap'investing. An essential read for every amateur and professionalinvestor."
--Stan Garstka, Deputy Dean & Professor in the Practice ofFaculty & Management, Yale School of Management
"Security analysis toward both better odds and higher long-termpayoff: A readable, authoritative guide."
--Professor Bill Baumol, New York University
"In reading this book, one is struck by the simplicity of theideas and the dependence of the investor on his own understandingsof reality as opposed to the myths on the street. The updatedversion of this 1979 classic incorporates all the modern financialengineering that has occurred as a product of the late 20thcentury, and the new methodologies refine your abilities to measurerisk but don't change the fundamentals of value. The updatedversion of The Aggressive Conservative Investor is very much avalue-added proposition."
--Sam Zell, Chairman, Equity Group Investment LLC
"I concur with those people who regard Marty Whitman as the'Dean of Value Investing.' This book is a must-read for everyoneinterested in understanding the art of investing."
--Melvin T. Stith, Dean, Whitman School of Management, SyracuseUniversity
This no-holds-barred presentation of one of the most successfulinvestment strategies of all time -- value investing in distressedsecurities/companie -- shows you how to analyze and evaluate stocksjust like controlling owners. Based on the assumption that stockprice rarely reflects real value, authors Whitman and Shubik usenumerous case studies to present risk-minimizing methods that alsoprovide high rewards. Still relevant today, this classic workincludes a new introduction discussing the dramatic changes thathave taken place in the value investing world since its firstpublication in 1979.

Autoren/Hrsg.

Whitman, Martin J.

Shubik, Martin

Weitere Mitwirkende

Isenberg, Gene

Inhaltsverzeichnis

Foreword.
Preface.
Section One: The Approach.
1.An Overview.
2.The Financial-Integrity Approach to Equity Investing.
Section Two: The Uses and Limitations of FundamentalAnalysis and Technical Analysis.
3.The Significance of Market Performance.
4.Modern Capital Theory.
5.Risk and Uncertainty.
Section Three: Disclosures and Information.
6.Following the Paper Trail.
7.Financial Accounting.
8.Generally Accepted Accounting Principles.
Section Four: The Financial and InvestmentEnvironment.
9.Tax Shelter (TS), Other People's Money (OPM), AccountingFudge Factor (AFF) and Something off the Top (SOTT).
10.Securities Analysis and Securities Markets.
11.Finance and Business.
Section Five: Tools of Securities Analysis.
12.Net Asset Values.
13.Earnings.
14.Roles of Cash Dividends in Securities Analysis and PortfolioManagement.
15.Shareholder Distributions, Primarily from the Company Pointof View.
16.Losses and Loss Companies.
17.A Short Primer on Asset-Conversion Investing: Prearbitrageand Postarbitrage.
Section Six: Appendixes--Case Studies.
Introduction to Appendixes I and II.
I. The Use of Creative Finance to Benefit ControllingStockholders--Schaefer Corporation.
II. Creative Finance Applied to a CorporateTakeover--Leasco Data Processing Company.
III. A Guide to SEC Corporate Filings--What They Are/WhatThey Tell You (Reprinted Courtesy of Disclosure Incorporated).
IV. Examples of Variables Using the Financial-IntegrityApproach--Pro and Con.
Index.

Über Autor(innen)

Martin J. Whitman (New York, NY) is chairman, chiefexecutive officer, and co-chief investment officer of Third AvenueManagement LLC, and also manages the Third Avenue Value Fund. Mr.Whitman is chairman and CEO of M.J. Whitman, Inc., a New York-basedfull-service broker-dealer and serves as CEO of Danielson HoldingCorporation, a Chicago-based insurance holding and trustcompany. Mr. Whitman received a bachelor of science from theSchool of Management and a master's degree in economics from theNew School for Social Research. He is a chartered financialanalyst.
Martin Shubik (Branford, CT) is the Seymour H. KnoxProfessor of Mathematical Institutional Economics at YaleUniversity. He received his B.A. and M.S. degrees in Mathematicsand Political Economy from the University of Toronto, and his Ph.D.in Economics from Princeton University.