Value Investing: From Graham to Buffett and Beyond - Bruce Greenwald

[fwallstreet]

[amazonsearch]Value Investing: From Graham to Buffett and Beyond[/amazonsearch]

 

Was surprised this wasn't on here already, so figured I'd add it. Just finish reading and really enjoyed it. I liked his discussion of Earnings Power Value (EPV) and the value of growth (or often lack thereof). Plus, he also discusses the many flaws with more traditional valuation methods like the DCF, which many of us probably recognize and know of, but he articulates them very well.

 

To briefly summarize, he describes asset valuation, EPV and value of growth with examples. Then, the book moves on to profile a couple of value investing greats and specifically what makes their process different. Highly recommend!

 

 

 

[west]

And I second the recommendation!  It's a great book, especially if you're new to understanding the math/fundamentals of valuing a company using a value investing mindset.  This book took what were soft concepts and turned them into a hard, numbers based framework for me.  The framework isn't an end-all/be-all, but it's a good place to hang everything else you learn on (to start off with).

 

I can't recommend it highly enough!

 

(And I wish Greenwald would write more books.)

[fwallstreet]

 

(And I wish Greenwald would write more books.)

 

Likewise! I forgot to ask, has anyone read Competition Demystified? Was thinking about tackling that soon.

[Danger Zone]

 

(And I wish Greenwald would write more books.)

 

Likewise! I forgot to ask, has anyone read Competition Demystified? Was thinking about tackling that soon.

 

Yes! It is a must-read in my opinion. It compliments the chapter about franchise value very well and helps you understand how moats work (and don't).

[Morgan]

Another great book. I made fairly complete notes on it. See them posted here:

http://bottomupanalysis.blogspot.com/2013/06/value-investing-from-graham-to-buffett.html

 

As for Competition Demystified, it's sitting on my shelf waiting to be read. I only hear good things about it.

[wbr]

 

(And I wish Greenwald would write more books.)

 

Likewise! I forgot to ask, has anyone read Competition Demystified? Was thinking about tackling that soon.

 

It's extremely insightful for investors who seek to evaluate the competitive position of a business. Especially the discussion of economies of scale changed the way I think about them. I would highly recommend Competition Demystified to anyone who is an investor, manager or simply interested in the topic.

[fwallstreet]

Thanks to all for thoughts on Competition Demystified. Definitely on my list now!