A book from academicians is always one where things could get serious or very theoretical. But this book— Value Investing: From Graham to Buffett and Beyond—from leading authorities on value investing takes the topic to a very different level in a very easy to understand and interesting manner. First, as a concept, value investing is not new to the world. It was defined and taught by Professor Benjamin Graham more than 80 years ago, with Warren Buffett being one of his well known pupils and practitioners who adopted the same early on in his life.
In this book, Greenwald and others not only explain the basic concepts and definitions behind Graham’s teaching but also take you several steps further in understanding the subject better. In a way the book, which is divided into three parts, is about evolution of value investing over the years and how it has been modified and adapted by different people. Then there are several real life examples of valuing companies by using the discussed valuation techniques that are very useful.
But the joy of reading this book is the last part, where the authors have profiled eight successful value investors, highlighting their different methods of applying valuation concepts when researching for suitable investments. It is a must read for anyone interested in value investing techniques. There is plenty to pick from various examples and nuggets, which make it a very unique compilation, and builds on how other have benefited using these principles of value investing.
Author - Bruce C. N. Greenwald, Judd Kahn, Paul D. Sonkin, and Michael van Biema
Publisher - Wiley India
Price - Rs 499
