The Theory of Investment Value John Burr Williams
Publisher: Beta Nu Publishing
Berkshire Hathaway Authorizes Share Repurchase (BRKa). 2) Can the business be purchased at a significant discount to its value? John Burr Williams 1938 treatise The Theory of Investment Value is still the definitive word on value. Today's historically low interest rates and investors ' flight to safety have combined to raise interest in dividend-paying stocks. Williams is a founder of fundamental analysis and his 1938 book, 'The Theory of Investment Value', is one of the most popular investing books in history. Mainstream economists have developed theories in which financial markets are “efficient,” pricing financial assets according to fundamental values. Buffett on The Theory of Investment Value: Berkshire Shareholder Letter Highlights. Your Price: $25.30- The Theory of Investment Value (Fraser Publishing Library) (Contrary Opinion Library) This book was first printed in 1938, having been written as a Ph.D. (Obviously, the marketable securities didn't go up in value eight-fold, it was the combo of capital appreciation and five years of free cash flow invested wisely.) As far as allocation goes, the portfolio has moved from being 100% in cash, U.S. This valuation model was popularlised by John Burr Williams who published “The Theory of Investment Value” in 1938. Indeed, if finance is efficient in the manner described by Of course, Glass-Steagall did segregate a portion of the financial sector from the payments system: investment banks were allowed freer reign on the asset side of their balance sheets, but they could not issue deposits. 1) What is the value of the business?