Security Analysis and Business Valuation on Wall Street: A Comprehensive Guide to Today's Valuation Methods
An insider's look at security analysis and business valuation, as practiced by Wall Street, Corporate America, and international businesses
Two major market crashes, numerous financial and accounting scandals, growth in private equity and hedge funds, Sarbanes Oxley and related regulations, and international developments changed security analysis and business valuation substantially over the last fourteen years. These events necessitated a second edition of this modern classic, praised earlier by Barron's as a "welcome successor to Graham and Dodd" and used in the global CFA exam.
This authoritative book shows the rational, rigorous analysis is still the most successful way to evaluate securities. It picks up where Graham and Dodd's bestselling Security Analysis - for decades considered the definitive word on the subject - leaves off. Providing a practical viewpoint, Security Analysis on Wall Street shows how the values of common stock are really determined in today's marketplace. Incorporating dozens of real-world examples, and spotlighting many special analysis cases - including cash flow stocks, unusual industries and distressed securities - this comprehensive resources delivers all the answers to your questions about security analysis and corporate valuation on Wall Street.
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CHAPTER 10 FinancialAnalysis andCompany Classification
CHAPTER 11 FinancialProjection Pointers
PART Three Valuation andthe Investment Decision
Intrinsic Value and Discounted Cash Flow
CHAPTER 8FinancialStatement Analysisof an EstablishedBusiness BEGINNINGTHE INVESTIGATION
The Limitations of Accounting Data
CHAPTER 2Whos PracticingSecurity Analysis andBusiness Valuation?