Value Investing: From Graham to Buffett and Beyond

From the "guru to Wall Street's gurus" comes the fundamental techniques of value investing and their applications
Bruce Greenwald is one of the leading authorities on value investing. Some of the savviest people on Wall Street have taken his Columbia Business School executive education course on the subject. Now this dynamic and popular teacher, with some colleagues, reveals the fundamental principles of value investing, the one investment technique that has proven itself consistently over time. After covering general techniques of value investing, the book proceeds to illustrate their applications through profiles of Warren Buffett, Michael Price, Mario Gabellio, and other successful value investors. A number of case studies highlight the techniques in practice.
Bruce C. N. Greenwald (New York, NY) is the Robert Heilbrunn Professor of Finance and Asset Management at Columbia University. Judd Kahn, PhD (New York, NY), is a member of Morningside Value Investors. Paul D. Sonkin (New York, NY) is the investment manager of the Hummingbird Value Fund. Michael van Biema (New York, NY) is an Assistant Professor at the Graduate School of Business, Columbia University.

BRUCE C. N. GREENWALD is the Robert Heilbrunn Professor of Finance and Asset Management at Columbia University Graduate School of Business. A leading authority on value investing, productivity, and the economics of information, he teaches executive seminars on value investing for professional investors from leading Wall Street firms. He holds a PhD in economics from MIT.
JUDD KAHN has taught history, served in city government, and worked as a securities analyst, a CFO, and a management consultant. He has a PhD in history from the University of California, Berkeley.
PAUL D. SONKIN is the investment manager of the Hummingbird Value Fund. He has worked at the SEC, Goldman Sachs, Royce Funds, and First Manhattan Company. He holds an MBA from Columbia, where he teaches courses on applied value investing.
MICHAEL van BIEMA is a member of the finance faculty of Columbia Business School, where he teaches corporate finance, entrepreneurial finance, and value investing. Prior to joining the faculty of Columbia, he was a principal at the RONIN Corporation, a management consulting firm, and the cofounder of several technology companies. He has a PhD from Columbia in computer science.

All four authors are members of Morningside Value Investors, LLC, an investment advisory firm.

Preface.

AN INTRODUCTION TO VALUE INVESTING.

Value Investing: Definitions, Distinctions, Results, Risks, Principles.

Searching for Value: Fish Where the Fish Are.

THREE SOURCES OF VALUE.

Valuation in Principle, Valuation in Practice.

Valuing the Assets: From Book Value to Replacement Costs.

Earning Power Value: Assets Plus Franchise.

A Wonderful Little Franchise: The Earning Power of WD-40.

Inside Intel: The Value of Growth Within the Franchise.

Constructing the Portfolio: Risk, Diversification, and Default Strategies.

VALUE INVESTING IN PRACTICE: PROFILES OF EIGHT VALUE INVESTORS.

Warren Buffett.

Mario Gabelli.

Glenn Greenberg.

Robert Heilbrunn.

Seth Klarman.

Michael Price.

Walter Schloss.

Paul Sonkin.

References.

Acknowledgements.

Index.