Value Investing Today

by Brandes, Charles

• ISBN13: 9780071417389
• ISBN10: 0071417389
• Edition: 3rd
• Format: Hardcover
• Copyright: 2003-10-02
• Publisher: McGraw-Hill

Summary

Updated data and insights to help value investors address the realities of today's markets On the heels of recent stock market tumbles and deceptions, value investing--the staple of investing greats from Benjamin Graham to Warren Buffett--has roared back into the spotlight. Value Investing Todayreturns with a new edition, filled with updated information and advice to give investors the skills and knowledge to become successful value investors. Broader in scope than previous editions, this third edition offers fresh lessons investors can use to uncover stocks that are, for whatever reason, underpriced in relation to their value. Updates to this edition include: New chapters on the psychology of investing and corporate governance Expanded discussions on the importance of margin of safety Increased correlations among world markets, and how to capitalize on them

Author Biography

Charles H. Brandes, CFA is founder and a managing partner of Brandes Investment Partners, LLC, an investment firm serving institutional and private clients with more than $50 billion under management as of December 31, 2002. A Chartered Financial Analyst for more than 25 years, Brandes had the tremendous fortune early in his career to meet and learn from Benjamin Graham, long considered the father of security analysis and value investing. He was able to learn firsthand the techniques Graham used to uncover bargain securities, and has used those basic principles as the foundation to achieve consistently superior results for his clients.

Table of Contents

Preface	ix
Introduction	xi
Part 1. What Is Value Investing and Why It Makes Dollars and Sense	1	(40)
1 What Is "Value Investing"?	3	(14)
2 Behavioral Biases: Why Value Investing Works	17	(14)
3 The Value Pedigree and the Rewards of Value Investing	31	(10)
Part 2. How to Find Value Companies	41	(54)
4 Characteristics of Value	49	(12)
5 Narrowing Your Focus	61	(10)
6 Gathering Company Information	71	(8)
7 Corporate Governance and the Value Investor	79	(16)
Part 3. Learning to Think Globally	95	(62)
8 Why Go Overseas?	97	(22)
9 How to Invest in Companies Worldwide	119	(20)
10 Unique Aspects of Global Investing	139	(18)
Part 4. Value Investing and You	157	(50)
11 Managing Risks and Your Value Portfolio	159	(14)
12 Are Stocks an Intelligent Investment?	173	(12)
13 Staying the Course	185	(18)
14 Above All, Be Patient	203	(4)
Epilogue	207	(2)
Index	209