Strategic value investing techniques from the world's leading value investors of all time

Description

Benjamin Graham referred to it as his "margin of safety." Seth Klarman favors it over all other investment methods. Warren Buffett uses it to make millions for his investors. It's called value investing, and you can make it work wonders for your portfolio. All you need is money to invest, a little patience—and this book. Strategic Value Investing reveals everything you need to know to build a world-class portfolio using value investing as your north star. Written by experts on valuation and financial analysis, this comprehensive guide breaks it all down into an easy-to-implement process. The authors explain the ins and outs of determining when a stock is undervalued, then purchasing it and selling it for a profit when the rest of the world learns what you knew all along. With Strategic Value Investing, you'll learn how to: Distinguish between the various measures of value, including going concern, replacement value, fair... Section OneIntroduction 1Chapter 1What Is Value Investing? 3Chapter 2Why Strategic Value Investing? 13Chapter 3Barriers to Successful Value Investing 31Chapter 4Strategic Selection of Companies: Economic Analysis, Industry Analysis, and Screening 53Chapter 5Company Analysis 77Section TwoMeasuring Value 111Chapter 6Concepts of Value 113Chapter 7Dividend Discount Models 133Chapter 8Free Cash Flow Models 153Chapter 9Asset-Based Approaches 173Chapter 10Residual Income Models 193Chapter 11Relative Valuation 205Section ThreeValue Investing Styles and Applications 225Chapter 12Variations on a Theme: Value Investing Styles 227Chapter 13Choosing the Right Style and Valuation Model 245Chapter 14Distressed Investing 265Chapter 15Applying Value Investing to the Market 285Notes 299Resources 311Index 318