Modern Security Analysis : Understanding Wall Street Fundamentals.
Title:
Modern Security Analysis : Understanding Wall Street Fundamentals.
Author:
Whitman, Martin J.
ISBN:
9781118602652
Personal Author:
Edition:
1st ed.
Physical Description:
1 online resource (498 pages)
Series:
Wiley Finance Ser. ; v.862
Wiley Finance Ser.
Contents:
CONTENTS -- Acknowledgments -- Introduction -- PART ONE -- The Foundations of Modern Business and Security Analysis -- CHAPTER 1 -- The Scope of Fundamental Finance, Investing, and the Investor Landscape -- CHAPTER 2 -- A Short Introduction to the Going Concern and Resource Conversion Views of Businesses -- CHAPTER 3 -- Substantive Consolidation and Structural Subordination -- CHAPTER 4 -- The Substantive Characteristics of Securities -- CHAPTER 5 -- Primacy of the Income Account or Wealth Creation? What Are Earnings, Anyway? -- CHAPTER 6 -- Net Asset Value: The Static and Dynamic Views -- CHAPTER 7 -- Creditworthiness -- CHAPTER 8 -- What Matters Is Investment Risk -- CHAPTER 9 -- Shareholder Distributions from the Company Point of View -- CHAPTER 10 -- Roles of Cash Dividends in Security Analysis and Portfolio Management -- CHAPTER 11 -- The Appraisal of Managements and Growth: GARP versus GADCP -- CHAPTER 12 -- The Significance (or Lack of Significance) of Market Performance -- CHAPTER 13 -- How Much Diversification? -- CHAPTER 14 -- Toward a General Theory of Market Efficiency -- PART TWO -- Putting It All Together: Safe and Cheap Investing versus Conventional Approaches -- CHAPTER 15 -- Safe and Cheap Investing -- CHAPTER 16 -- Graham and Dodd Placed in Context -- CHAPTER 17 -- Academic Finance: Modern Capital Theory -- CHAPTER 18 -- Broker-Dealer Research Departments and Conventional Money Managers -- PART THREE -- Real-World Considerations -- CHAPTER 19 -- Uses and Limitations of Financial Accounting -- CHAPTER 20 -- Company Disclosures and Information: Following the Paper Trail in the United States -- CHAPTER 21 -- Buying Securities in Bulk -- PART FOUR -- Understanding Resource Conversion -- CHAPTER 22 -- A Short Primer on Resource Conversion -- CHAPTER 23 -- Restructuring Troubled Companies -- CHAPTER 24.
The Role of Government in Reorganizations -- PART FIVE -- Active Investors Buy and Sell Common Stocks on an Advantageous Basis -- CHAPTER 25 -- The Economics of Private Equity Leveraged Buyouts -- CHAPTER 26 -- The Use of Creative Finance in a Corporate Takeover -- CHAPTER 27 -- The Use of Creative Finance to Benefit Controlling Stockholders -- Glossary of Acronyms -- About the Authors -- Index.
Abstract:
A legendary value investor on security analysis for a modern era This book outlines Whitman's approach to business and security analysis that departs from most conventional security analysts. This approach has more in common with corporate finance than it does with the conventional approach. The key factors in appraising a company and its securities: 1) Credit worthiness, 2) Flows-both cash and earnings, 3) Long-term outlook, 4) Salable assets which can be disposed of without compromising the going concern, dynamics, 5) Resource conversions such as changes in control, mergers and acquisitions, going private, and major changes in assets or in liabilities, and 6) Access to capital. Offers the security analysis value approach Martin Whitman has used successfully since 1986 Details Whitman's unconventional approach to security analysis and offers information on the six key factors for appraising a company Contains the three most overemphasized factors used in conventional securities investing Written by Martin J. Whitman and Fernando Diz, Modern Security Analysis meets the challenge of today's marketplace by taking into account changes to regulation, market structures, instruments, and the speed and volume of trading.
Local Note:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2017. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
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