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The Aggressive Conservative Investor

by

The Aggressive Conservative Investor Cover

 

Synopses & Reviews

Publisher Comments:

"The Aggressive Conservative Investor will never go out of date.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.

Synopsis:

The Aggressive Conservative Investor is a no-holds-barred presentation of one of the most successful investment strategies of all time--value investing in distressed securities/companies. With painful honesty and terrific storytelling, the authors show investors how to analyze and evaluate stocks just like controlling owners--based on the assumption that stock price rarely reflects real value. Using numerous case studies, Whitman and Shubik 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 the book was first published in 1979.

Synopsis:

THE AGGRESSIVE CONSERVATIVE INVESTOR

"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

About the Author

Martin J. Whitman (New York, NY) is chairman, chief executive officer, and co-chief investment officer of Third Avenue Management LLC, and also manages the Third Avenue Value Fund. Mr. Whitman is chairman and CEO of M.J. Whitman, Inc., a New York-based full-service broker-dealer and serves as CEO of Danielson Holding Corporation, a Chicago-based insurance holding and trust company.  Mr. Whitman received a bachelor of science from the School of Management and a master's degree in economics from the New School for Social Research. He is a chartered financial analyst. 

Martin Shubik (Branford, CT) is the Seymour H. Knox Professor of Mathematical Institutional Economics at Yale University. He received his B.A. and M.S. degrees in Mathematics and Political Economy from the University of Toronto, and his Ph.D. in Economics from Princeton University.

Table of Contents

Foreword.

Preface.

Section One: The Approach.

1.An Overview.

2.The Financial-Integrity Approach to Equity Investing.

Section Two: The Uses and Limitations of Fundamental Analysis and Technical Analysis.

3.The Significance of Market Performance.

4.Modern Capital Theory.

5.Risk and Uncertainty.

Section Three: Disclosures and Information.

6.Following the Paper Trail.

7.Financial Accounting.

8.Generally Accepted Accounting Principles.

Section Four: The Financial and Investment Environment.

9.Tax Shelter (TS), Other People’s Money (OPM), Accounting Fudge Factor (AFF) and Something off the Top (SOTT).

10.Securities Analysis and Securities Markets.

11.Finance and Business.

Section Five: Tools of Securities Analysis.

12.Net Asset Values.

13.Earnings.

14.Roles of Cash Dividends in Securities Analysis and Portfolio Management.

15.Shareholder Distributions, Primarily from the Company Point of View.

16.Losses and Loss Companies.

17.A Short Primer on Asset-Conversion Investing: Prearbitrage and Postarbitrage.

Section Six: Appendixes—Case Studies.

Introduction to Appendixes I and II.

I. The Use of Creative Finance to Benefit Controlling Stockholders—Schaefer Corporation.

II. Creative Finance Applied to a Corporate Takeover—Leasco Data Processing Company.

III. A Guide to SEC Corporate Filings—What They Are/What They Tell You (Reprinted Courtesy of Disclosure Incorporated).

IV. Examples of Variables Using the Financial-Integrity Approach—Pro and Con.

Index.

Product Details

ISBN:
9780471768050
Author:
Whitman, Martin J
Publisher:
Wiley
Author:
Whitman, Martin J.
Author:
Shubik, Martin
Author:
Isenberg, Gene
Subject:
Personal Finance - Investing
Subject:
Investments
Subject:
Finance
Subject:
Investments & Securities
Subject:
Business - Personal Finance
Copyright:
Edition Description:
Paperback
Series:
Wiley Investment Classics
Series Volume:
30
Publication Date:
20051104
Binding:
Electronic book text in proprietary or open standard format
Grade Level:
General/trade
Language:
English
Pages:
486
Dimensions:
8.46x5.58x1.31 in. 1.07 lbs.

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Related Subjects

Business » Accounting and Finance
Business » Investing
Business » Personal Finance
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Health and Self-Help » Self-Help » General
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Science and Mathematics » Mathematics » Applied

The Aggressive Conservative Investor Used Trade Paper
0 stars - 0 reviews
$9.50 In Stock
Product details 486 pages John Wiley & Sons - English 9780471768050 Reviews:
"Synopsis" by , The Aggressive Conservative Investor is a no-holds-barred presentation of one of the most successful investment strategies of all time--value investing in distressed securities/companies. With painful honesty and terrific storytelling, the authors show investors how to analyze and evaluate stocks just like controlling owners--based on the assumption that stock price rarely reflects real value. Using numerous case studies, Whitman and Shubik 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 the book was first published in 1979.
"Synopsis" by , THE AGGRESSIVE CONSERVATIVE INVESTOR

"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

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