Value Investing: From Graham to Buffett and Beyond: 396

Explore the modern extension of value investing in thisessential text from the guru to Wall Streets gurus

The substantially rewritten Second Edition ofValueInvesting: From Graham to Buffett and Beyonddelivers an incisive andrefined approach to investing grounded on almost 100 years of history,beginning with Graham and Dodd. Founded on the value investing course taughtfor almost twenty-five years by co-author Bruce Greenwald at Columbia BusinessSchool, the book helps investors consistently land on the profitable side ofthe trade.

Readers will learn how to search for underpriced securities,value them accurately, hone a research strategy, and apply it all in thecontext of a risk management practice that mitigates the chance of a permanentloss of capital.

The new edition includes:

• Two innovative new chapters discussing the valuation of growth stocks, a perennial problem for investors in the Graham and Dodd tradition

• New profiles of successful investors, including Tom Russo, Paul Hilal, and Andrew Weiss

• An extended discussion of risk management, including modern best practices in an environment where it is often divorced from individual security selection

A substantive expansion of an already highly regardedbook,Value Investing: From Graham to Buffett and Beyondisthe premier text discussing the application of timeless investing principleswithin a transformed economic environment. It is an essential resource forportfolio managers, retail and institutional investors, and anyone else with aprofessional or personal interest in securities valuation and investing.

Successful value investing practitioners have graced boththe course and this book with presentations describing what they really do whenthey are at work. Find brief descriptions of their practices within, and videopresentations available on the web site that accompanies this volume:

http://www.wiley.com/go/greenwald/valueinvesting2e

About the Author

BRUCE C. GREENWALDwas Founding Director of theHeilbrunn Center for Graham and Dodd Investing at Columbia Business School from2001 until his retirement in 2019. In addition to training thousands ofstudents in the mysteries of value investing, he taught oversubscribed courseson the economics of business strategy and globalization. His bookCompetitionDemystified,published in 2005, is still in print. He has also beenChairman of Paradigm Capital Management since its founding in 2007 and theDirector of Research at First Eagle Funds from 2007-11, serving as a senioradvisor since.

JUDD KAHNis currently a partner in DavidsonKahn Capital Management. He started his professional career as a historian,worked as a consultant and financial executive, and has been involved ininvestment management since 2000. He has a doctorate in history from UCBerkeley.

ERIN BELLISSIMOis the Managing Director ofNotre Dame’s Institute for Global Investing. She was a founding director ofColumbia’s Heilbrunn Center, has worked in hedge funds and banking, and sits onthe board of Girls Who Invest. She has a BSBA from Bucknell and an MBA from theWharton School at the University of Pennsylvania.

MARK COOPERis CIO and Co-founder of MAC AlphaCapital Management and an adjunct professor at Columbia Business School. Hepreviously worked at First Eagle Investment Management, PIMCO, Omega Advisors,Pequot Capital, and JPMorgan. He holds an MBA from Columbia Business School anda SB from MIT.

TANO SANTOSis the David L. and Elsie M. DoddProfessor of Finance and the Faculty Director of Columbia’s Heilbrunn Center.He has succeeded Bruce Greenwald as the professor teaching the value investingcourse. He has a doctorate in economics from the University of Chicago.