Valuation Techniques: Discounted Cash Flow, Earnings Quality, Measures of Value Added, and Real Options Hardcover - 2012 - 1st Edition

From the rear cover

Valuation is the cornerstone of investment analysis, and a thorough understanding and correct application of valuation methodologies are critical for long-term investing success. Properly applied, valuation techniques can help investors distinguish between price and value, a critical distinction from which excess returns flow. Edited by two leading valuation experts from CFA Institute, this book brings together the insights and expertise of some of the most astute and successful investment minds of the past 50 years. From Benjamin Graham, the "father of value investing," to Aswath Damodaran, you'll learn what these investment luminaries have to say about investment valuation techniques, including earnings and cash flow analysis. As you read the chapters in this book, you will gain an appreciation for the evolution of valuation thought, and in the process, you will acquire a framework for understanding future innovations in the field.

• Features the best thinking on valuation from the industry's masters on the topic, supplemented with dozens of fascinating and instructive real-world examples
• Provides a breadth of perspectives on valuation theory and applications to ensure that it becomes a tool that matches every fundamental investor's way of looking at the world
• Comprehensively discusses special valuation situations, such as real options, employee stock options, highly leveraged firms, corporate takeovers, and more
• Supplies you with the tools you need to successfully navigate and thrive in the ever-changing financial markets
• Is being produced with the full support and input of CFA Institute, the world's leading association of investment professionals

From the jacket flap

Valuation is the cornerstone of investment analysis, and a thorough understanding and correct application of valuation methodologies are critical for long-term investing success. Properly applied, valuation techniques can help investors distinguish between price and value, a critical distinction from which excess returns flow. Edited by two leading valuation experts from CFA Institute, this book brings together the insights and expertise of some of the most astute and successful investment minds of the past 50 years. From Benjamin Graham, the father of value investing, to Aswath Damodaran, you'll learn what these investment luminaries have to say about investment valuation techniques, including earnings and cash flow analysis. As you read the chapters in this book, you will gain an appreciation for the evolution of valuation thought, and in the process, you will acquire a framework for understanding future innovations in the field.

• Features the best thinking on valuation from the industry's masters on the topic, supplemented with dozens of fascinating and instructive real-world examples
• Provides a breadth of perspectives on valuation theory and applications to ensure that it becomes a tool that matches every fundamental investor's way of looking at the world
• Comprehensively discusses special valuation situations, such as real options, employee stock options, highly leveraged firms, corporate takeovers, and more
• Supplies you with the tools you need to successfully navigate and thrive in the ever-changing financial markets
• Is being produced with the full support and input of CFA Institute, the world's leading association of investment professionals