融合傳統價值投資理論與新時代的成長股分析方法，提供一套適用於低配息或不發股利股票的評價策略。作者 Nancy Tengler 以實務經驗為基礎，提出「Relative Value Discipline」理念，結合「相對股息收益率」與「相對營收比」兩種分析工具，幫助投資人跨越股息政策的限制，靈活評估成長型企業的價值。書中並回顧美國九○年代科技與創新浪潮對投資思維的改變，讓讀者理解從傳統價值到新型價值投資的演進脈絡。A unique guide that combines the best of traditional value theory with an innovative approach to assessing value in low or non-dividend paying stocks In the 1990s, America's focus on productivity and innovation led to huge gains in technology, communication, and healthcare stocks, and contributed to the transformation of the U.S. stock market from a value (dividend-paying orientation) to a growth (nondividend-paying) bias. During this time, forward thinking value managers began to develop analytical tools for valuing nondividend paying stocks. These tools allowed them to evaluate and identify the best investments in both traditional and nontraditional value sectors. At the forefront of this movement was author Nancy Tengler who, along with Noel DeDora, developed "Relative Value Dis
