Value Investing 在線電子書 圖書標籤: 投資 價值投資 金融 INVESTMENT 商業 finance 證券投資 英版
發表於2025-04-14
Value Investing 在線電子書 pdf 下載 txt下載 epub 下載 mobi 下載 2025
需要實踐,需要重新細讀、精讀
評分對於類似這種重要的書,一定要用原版校正閱讀。
評分DCF的問題有二。一則不可靠的較遠未來增長預測的摺現拉低瞭信息質量,二則終值占比過大,受永續增長假設敏感度影響極大。給齣敏感度測試分布並不會讓分析更加準確。布魯斯把估值打成三塊,第一塊最可靠,為自由競爭條件下的重置資本價值;第二塊加入特許經營權,考量無增長假設下的收入能力價值;第三塊加入在特許經營權結構下具有比較優勢的增長價值。信息質量逐次遞減。競爭優勢來源:一則管製,二則專利,三則下行學習麯綫,四則低價生産要素,五則客戶捕捉能力,包括銷售渠道,成癮可能,搜索成本,及轉移成本。六則規模經濟效益,在此情況下市占率最重要。規模經濟導緻低成本結構,並使更多的廣告銷售(更大的市占率),更低的價格,以及更高的利潤邊際變得可能。279頁資本化比率以及283頁對小市值企業投資優勢的描述很好。
評分好看,有思想,有乾貨。重讀一遍還是過癮。不是那些老調重彈的東西
評分很棒的總結,
Bruce C. N. Greenwald (New York, NY) is the Robert Heilbrunn Professor of Finance and Asset Management at Columbia University. Judd Kahn, PhD (New York, NY), is a member of Morningside Value Investors. Paul D. Sonkin (New York, NY) is the investment manager of the Hummingbird Value Fund. Michael van Biema (New York, NY) is an Assistant Professor at the Graduate School of Business, Columbia University.
From the "guru to Wall Street's gurus" comes the fundamental techniques of value investing and their applications
Bruce Greenwald is one of the leading authorities on value investing. Some of the savviest people on Wall Street have taken his Columbia Business School executive education course on the subject. Now this dynamic and popular teacher, with some colleagues, reveals the fundamental principles of value investing, the one investment technique that has proven itself consistently over time. After covering general techniques of value investing, the book proceeds to illustrate their applications through profiles of Warren Buffett, Michael Price, Mario Gabellio, and other successful value investors. A number of case studies highlight the techniques in practice.
Greenwald 把intelligent investor介绍的传统value investing方法在现今的经济环境中做了深入浅出的剖析,非常实用。个人认为是自benjamin graham 以intelligent investor 开创价值投资并被巴菲特发扬光大以来,半个多世纪里价值投资学派最好的传承。
評分Greenwald 把intelligent investor介绍的传统value investing方法在现今的经济环境中做了深入浅出的剖析,非常实用。个人认为是自benjamin graham 以intelligent investor 开创价值投资并被巴菲特发扬光大以来,半个多世纪里价值投资学派最好的传承。
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