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Author: Martin J. Whitman
Publisher:
ISBN: 9781539456926
Category : Investments
Languages : en
Pages : 413
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Book Description
Author: Martin J. Whitman
Publisher:
ISBN: 9781539456926
Category : Investments
Languages : en
Pages : 413
Get Book
Book Description
Author: Martin J. Whitman
Publisher: John Wiley & Sons
ISBN: 1118603389
Category : Business & Economics
Languages : en
Pages : 496
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Book Description
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.
Author: Jeff Gramm
Publisher: HarperCollins
ISBN: 0062369849
Category : Business & Economics
Languages : en
Pages : 263
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Book Description
A sharp and illuminating history of one of capitalism’s longest running tensions—the conflicts of interest among public company directors, managers, and shareholders—told through entertaining case studies and original letters from some of our most legendary and controversial investors and activists. Recent disputes between shareholders and major corporations, including Apple and DuPont, have made headlines. But the struggle between management and those who own stock has been going on for nearly a century. Mixing never-before-published and rare, original letters from Wall Street icons—including Benjamin Graham, Warren Buffett, Ross Perot, Carl Icahn, and Daniel Loeb—with masterful scholarship and professional insight, Dear Chairman traces the rise in shareholder activism from the 1920s to today, and provides an invaluable and unprecedented perspective on what it means to be a public company, including how they work and who is really in control. Jeff Gramm analyzes different eras and pivotal boardroom battles from the last century to understand the factors that have caused shareholders and management to collide. Throughout, he uses the letters to show how investors interact with directors and managers, how they think about their target companies, and how they plan to profit. Each is a fascinating example of capitalism at work told through the voices of its most colorful, influential participants. A hedge fund manager and an adjunct professor at Columbia Business School, Gramm has spent as much time evaluating CEOs and directors as he has trying to understand and value businesses. He has seen public companies that are poorly run, and some that willfully disenfranchise their shareholders. While he pays tribute to the ingenuity of public company investors, Gramm also exposes examples of shareholder activism at its very worst, when hedge funds engineer stealthy land-grabs at the expense of a company’s long term prospects. Ultimately, he provides a thorough, much-needed understanding of the public company/shareholder relationship for investors, managers, and everyone concerned with the future of capitalism.
Author: Martin J. Whitman
Publisher: John Wiley & Sons
ISBN: 9780471398103
Category : Business & Economics
Languages : en
Pages : 302
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Book Description
Die hier vorgestellte Methode des 'Value Investing' (Investitionsentscheidungen nach der Wertanalyse) lost die traditionelle Praxis ubertriebener Preisbeobachtungen ab. Die moderne Unternehmensbewertung wird von einem echten Value-Investor vorgestellt, der bekannt ist fur seine Treffsicherheit beim Kauf von unterbewerteten Unternehmen, die er spater wieder mit betrachtlichem Gewinn verkauft. "Value Investing" zeigt Ihnen, wie Sie von der Informationsvielfalt profitieren, z.B. von Fusionen und Akquisitionen und Unternehmens- oder offentlichen Finanzierungen. Whitman definiert die grundlegenden Faktoren, die den Unternehmenswert und ganze Markte beeinflussen konnen und befurwortet die Abkehr von der herkommlichen Analyse der Preisbewegungen und kurzfristigen Handelszielen.
Author: David Kershaw
Publisher: Oxford University Press
ISBN: 0199609322
Category : Business & Economics
Languages : en
Pages : 945
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Book Description
'Company Law in Context' is an ideal main text for company law courses. David Kershaw places company law in its economic, business, and social context, making more accessible and relevant the cases, statutes, and other forms of regulation. A running case study provides a practical perspective.
Author: Lawrence A. Cunningham
Publisher: Harriman House Limited
ISBN: 0857197924
Category : Business & Economics
Languages : en
Pages : 477
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Book Description
The shareholder letters of corporate leaders are a rich source of business and investing wisdom. There is no more authoritative resource on subjects ranging from leadership and management to capital allocation and company culture. But with thousands of shareholder letters written every year, how can investors and students of the corporate world sift this vast swathe to unearth the best insights? Dear Shareholder is the solution! In this masterly new collection, Lawrence A. Cunningham, business expert and acclaimed editor of The Essays of Warren Buffett, presents the finest writers in the genre of the shareholder letter, and the most significant excerpts from their total output. Skillfully curated, edited and arranged, these letters showcase the ultimate in business and investment knowledge from an all-star team. Dear Shareholder holds letters by more than 20 different leaders from 16 companies. These leaders include Warren Buffett (Berkshire Hathaway), Tom Gayner (Markel), Kay Graham and Don Graham (The Washington Post and Graham Holdings), Roberto Goizueta (Coca-Cola), Ginni Rometty (IBM), and Prem Watsa (Fairfax). Topics covered in these letters include the long-term focus, corporate culture and commitment to values, capital allocation, buybacks, dividends, acquisitions, management, business strategy, and executive compensation. As we survey the corporate landscape in search of outstanding companies run by first-rate managers, shareholder letters are a valuable resource. The letters also contain a wealth of knowledge on the core topics of effective business management. Let Dear Shareholder be your guide.
Author: Martin J. Whitman
Publisher: John Wiley & Sons
ISBN: 1118046374
Category : Business & Economics
Languages : en
Pages : 486
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Book Description
"The Aggressive Conservative Investor will never go out of date. Regulation, disclosure, and other things may change, but the general approach and mindset to successful investing are timeless. Read this book and you will learn the rudiments of 'safe and cheap' investing. An essential read for every amateur and professional investor." --Stan Garstka, Deputy Dean & Professor in the Practice of Faculty & Management, Yale School of Management "Security analysis toward both better odds and higher long-term payoff: A readable, authoritative guide." --Professor Bill Baumol, New York University "In reading this book, one is struck by the simplicity of the ideas and the dependence of the investor on his own understandings of reality as opposed to the myths on the street. The updated version of this 1979 classic incorporates all the modern financial engineering that has occurred as a product of the late 20th century, and the new methodologies refine your abilities to measure risk but don't change the fundamentals of value. The updated version of The Aggressive Conservative Investor is very much a value-added proposition." --Sam Zell, Chairman, Equity Group Investment LLC "I concur with those people who regard Marty Whitman as the 'Dean of Value Investing.' This book is a must-read for everyone interested in understanding the art of investing." --Melvin T. Stith, Dean, Whitman School of Management, Syracuse University This no-holds-barred presentation of one of the most successful investment strategies of all time -- value investing in distressed securities/companie -- shows you how to analyze and evaluate stocks just like controlling owners. Based on the assumption that stock price rarely reflects real value, authors Whitman and Shubik use numerous case studies to present risk-minimizing methods that also provide high rewards. Still relevant today, this classic work includes a new introduction discussing the dramatic changes that have taken place in the value investing world since its first publication in 1979.
Author: Dennis W. Bakke
Publisher: PVG
ISBN: 9780974355290
Category : Business & Economics
Languages : en
Pages : 314
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Book Description
Imagine a company where people love coming to work and are highly productive on a daily basis. Imagine a company whose top executives, in a quest to create the most "fun" workplace ever, obliterate labor-management divisions and push decision-making responsibility down to the plant floor. Could such a company compete in today's bottom-line corporate world? Could it even turn a profit? Well, imagine no more. In Joy at Work, Dennis W. Bakke tells the true story of this extraordinary company--and how, as its co-founder and longtime CEO, he challenged the business establishment with revolutionary ideas that could remake America's organizations. It is the story of AES, whose business model and operating ethos -"let's have fun"-were conceived during a 90-minute car ride from Annapolis, Maryland, to Washington, D.C. In the next two decades, it became a worldwide energy giant with 40,000 employees in 31 countries and revenues of $8.6 billion. It's a remarkable tale told by a remarkable man: Bakke, a farm boy who was shaped by his religious faith, his years at Harvard Business School, and his experience working for the Federal Energy Administration. He rejects workplace drudgery as a noxious remnant of the Industrial Revolution. He believes work should be fun, and at AES he set out to prove it could be. Bakke sought not the empty "fun" of the Friday beer blast but the joy of a workplace where every person, from custodian to CEO, has the power to use his or her God-given talents free of needless corporate bureaucracy. In Joy at Work, Bakke tells how he helped create a company where every decision made at the top was lamented as a lost chance to delegate responsibility--and where all employees were encouraged to take the "game-winning shot," even when it wasn't a slam-dunk. Perhaps Bakke's most radical stand was his struggle to break the stranglehold of "creating shareholder value" on the corporate mind-set and replace it with more timeless values: integrity, fairness, social responsibility, and a sense of fun.
Author: Ronald R. Sims
Publisher: IAP
ISBN: 1607526557
Category : Business & Economics
Languages : en
Pages : 341
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Book Description
Foreword by Dennis W. Bakke, best selling author of "Joy at Work". Afterword by C. William Pollard, best selling author of "The Soul of the Firm." Scott Quatro and Ronald Sims have put together an impressive group of experts that delve into the essential elements of C-suite leadership; especially, ethics-driven leadership. The book reminds us that the "bottom line" is more complicated now. Profits are only part of the equation. The post Sarbanes–Oxley era requires more than ethics-related compliance. It calls for the creation of an ethics-driven ethos as well. This book begins the dialogue toward such an ethos. This timely volume is unified in its collective voice, but uniquely diverse in its independent voices, as it draws on the wisdom and experiences of twenty-nine different contributors from both industry and the academy. This book will also help you understand how organizations can maximize the fun, effectiveness, and experienced meaningfulness of the people who work there. The fundamentals are simple and easy to understand. Unfortunately, few C-suite leaders can bring themselves to lead consistently following these fundamentals. An ethical organizational leader must continuously remind the organization why the organization exists, and why what it does is important. People will not work with energy, engagement, and consistency without a purpose they intensely believe is worthwhile. Leaders must continually find ways to articulate the importance of individual peoples' efforts toward that end.
Author: Gregory P. Wilson
Publisher: John Wiley & Sons
ISBN: 1118023005
Category : Business & Economics
Languages : en
Pages : 409
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Book Description
How to manage and profit from the new financial regulatory reality Now, more than ever, navigating the new financial regulations is paramount for the survival of many large institutions. Managing to the New Regulatory Reality: Doing Business Under the Dodd-Frank Act provides the most important, need-to-know lessons for private sector management, boards of directors, policymakers, and even regulators, shedding light on the movement from crisis to panic, regulatory reform to winning under continuing financial regulatory uncertainty. Reviews the causes of 2008's financial crisis, and assesses its impact on multiple stakeholders Describes and analyzes the impact of the immediate U.S. and G20 policy and regulatory reactions on financial institutions that the crisis response triggered Explains the legislative policies, and examines how institutions and the financial services industry can make these new policies and regulations work for them All financial institutions, but especially large companies, will have to aggressively manage to the new regulatory reality. Managing to the New Regulatory Reality is the must-have survival guide to sustaining profitability despite all the new red tape.
