Good Value

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Good Value

Author : Stephen Green
Publisher : Open Road + Grove/Atlantic
ISBN 13 : 0802197965
Total Pages : 262 pages
Book Rating : 4.8/5 (21 download)

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Book Synopsis Good Value by : Stephen Green

Download or read book Good Value written by Stephen Green and published by Open Road + Grove/Atlantic. This book was released on 2011-02-08 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: “An unusual and thoughtful disquisition on how to conduct oneself in a world of high finance and ambition.” —The Wall Street Journal A Financial Times Book of the Year Can one be both an ethical person and an effective businessperson? As an ordained priest and former bank chairman, Stephen Green thinks so. In Good Value, Green retraces the history of the global economy and its financial systems, and shows that while the marketplace has delivered huge advantages to humanity, it has also abandoned over a billion people to extreme poverty, encouraged overconsumption and debt, and ravaged the environment. How do we reconcile the demands of capitalism with both the common good and our own spiritual and psychological needs as individuals? To answer that, and some of the most vexing questions of our age, Green takes us on a lively and erudite journey through history, looking for lessons in the work of economists and philosophers, businessmen and poets, theologians and novelists, playwrights and political scientists. An essential business book by a man who is uniquely qualified to write it, Good Value is a timely and persuasive analysis of the most pressing financial and moral questions we face.

Good Stocks Cheap: Value Investing with Confidence for a Lifetime of Stock Market Outperformance

Author : Kenneth Jeffrey Marshall
Publisher : McGraw Hill Professional
ISBN 13 : 1259836088
Total Pages : 241 pages
Book Rating : 4.2/5 (598 download)

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Book Synopsis Good Stocks Cheap: Value Investing with Confidence for a Lifetime of Stock Market Outperformance by : Kenneth Jeffrey Marshall

Download or read book Good Stocks Cheap: Value Investing with Confidence for a Lifetime of Stock Market Outperformance written by Kenneth Jeffrey Marshall and published by McGraw Hill Professional. This book was released on 2017-06-23 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Power through the ups and downs of the market with the Value Investing Model. Stock prices fluctuate unpredictably. But company values stay relatively steady. This insight is the basis of value investing, the capital management strategy that performs best over the long term. With Good Stocks Cheap, you can get started in value investing right now. Longtime outperforming value investor, professor, and international speaker Kenneth Jeffrey Marshall provides step-by-step guidance for creating your own value investing success story. You’ll learn how to: • Master any company with fundamental analysis • Distinguish between a company’s stock price from its worth • Measure your own investment performance honestly • Identify the right price at which to buy stock in a winning company • Hold quality stocks fearlessly during market swings • Secure the fortitude necessary to make the right choices and take the right actions Marshall leaves no stone unturned. He covers all the fundamental terms, concepts, and skills that make value investing so effective. He does so in a way that’s modern and engaging, making the strategy accessible to any motivated person regardless of education, experience, or profession. His plain explanations and simple examples welcome both investing newcomers and veterans. Good Stocks Cheap is your way forward because the Value Investing Model turns market gyrations into opportunities. It works in bubbles by showing which companies are likely to excel over time, and in downturns by revealing which of these leading businesses are the most underpriced. Build a powerful portfolio poised to deliver outstanding outcomes over a lifetime. Put the strength of value investing to work for you with Good Stocks Cheap.

Good Always Wins

Author : Ed Strauss
Publisher : Barbour Publishing
ISBN 13 : 1630585343
Total Pages : 70 pages
Book Rating : 4.6/5 (35 download)

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Book Synopsis Good Always Wins by : Ed Strauss

Download or read book Good Always Wins written by Ed Strauss and published by Barbour Publishing. This book was released on 2014-07-01 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: If God really cares about people, why does He allow terrorism, disease, war, and financial hardships? Good Always Wins honestly tackles these very tough questions, concluding that, yes—God cares, and He cares deeply. Somehow, He is working in and through the tragedies of our world—from school shootings to crib deaths, from devastating typhoons to automobile accidents—to redeem them and ultimately bring good from the evil. Bible-based answers are provided for key questions such as “Why does God allow suffering?”, “Why natural disasters?”, “Why wars and senseless violence?”, and “Does God truly care?”

Good Profit

Author : Charles G. Koch
Publisher : Crown Currency
ISBN 13 : 1101904143
Total Pages : 290 pages
Book Rating : 4.1/5 (19 download)

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Book Synopsis Good Profit by : Charles G. Koch

Download or read book Good Profit written by Charles G. Koch and published by Crown Currency. This book was released on 2015-10-13 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: NEW YORK TIMES BESTSELLER • Learn how to apply the principles of Charles Koch’s revolutionary Market-Based Management® system to generate good profit in your organization, company, and life “This book helps show you the way to good profit—whether you work for an international supermarket chain, a medium-sized regional business, or your own start-up.”—John Mackey, co-founder and co-CEO, Whole Foods Market The technological innovations, extreme politics, civil unrest, cyber attacks, demographic shifts, and global pandemic that have affected all businesses since this book was published have only confirmed Charles Koch’s belief that “the only reason a business should exist (and the only way it can legitimately survive long term) is to create value in a responsible way.” Hence, the principles in Good Profit are more important today than ever before. What exactly does Koch Industries, Inc., do and why is it so remarkably profitable? Koch’s name may not be on your home’s plywood, vehicle’s grille, smartphone’s connectors, or baby’s ultra-absorbent diapers but it makes them all. And Koch’s Market-Based Management® (MBM) system is what drives these innovations and many more. The core objective of MBM is to generate good profit. Good profit results from products and services that customers vote for freely with their dollars. It results from a bottom-up culture where employees are empowered to act entrepreneurially to discover customers’ preferences and the best ways to improve their lives. Drawing on six decades of interdisciplinary studies, experimental discovery, and practical implementation across Koch businesses worldwide, Charles Koch walks the reader through the five dimensions of MBM to show how to apply its framework in any business, industry, or organization of any size. Readers will learn how to: • Craft a vision for how to thrive in spite of increasingly rapid disruption and ever-changing consumer values • Select and retain a workforce possessing both virtue and talent • Create an environment of knowledge sharing that prizes respectful challenges from everyone at every level • Award employees with ownership and decision rights based on their comparative advantages and proven contributions, not job title • Motivate all employees to maximize their contributions by structuring incentives so compensation is limited only by the value they create A must-read for any leader, entrepreneur, or student, as well as anyone who wants a more civil, fair, and prosperous society, Good Profit is one of the greatest management books of all time.

Orange Coin Good

Author : Jimbo
Publisher : Independently Published
ISBN 13 :
Total Pages : 164 pages
Book Rating : 4.6/5 (377 download)

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Book Synopsis Orange Coin Good by : Jimbo

Download or read book Orange Coin Good written by Jimbo and published by Independently Published. This book was released on 2020-10-31 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book answers one question: How can Bitcoin, a purely digital money that's not backed by anything, have any value to people at all? You'll learn that Bitcoin is three things: a programmable money, a computer network, and a social phenomenon. These parts are mutually reinforcing, inseparable and governed by consensus. You'll find out how Bitcoin works for you. You'll learn how to set up a wallet and how to use it to receive Bitcoin. Lastly, you'll see what Bitcoin achieves when we compare it to gold and to fiat currencies. Bitcoin is the first and most rival, excludable, digital good. It is the hardest money ever conceived. We need good money. Orange Coin Good.

Sustainable Value

Author : Chris Laszlo
Publisher : Routledge
ISBN 13 : 1351280066
Total Pages : 169 pages
Book Rating : 4.3/5 (512 download)

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Book Synopsis Sustainable Value by : Chris Laszlo

Download or read book Sustainable Value written by Chris Laszlo and published by Routledge. This book was released on 2017-09-08 with total page 169 pages. Available in PDF, EPUB and Kindle. Book excerpt: A small but influential group of mainstream global industry leaders are now reinventing the role of business in society. They are shifting the focus away from minimizing negative impacts to offering new solutions to global problems that the public sector has been unable to tackle alone. In this new competitive environment, societal challenges such as climate change or the alleviation of global poverty are not only risks, but huge business opportunities, not only for niche players, but for mainstream business. These leaders are creating "Sustainable Value". They are creating it through the provision of value to both their shareholders and their stakeholders – an ever-growing list of diverse constituents impacted by the social, environmental, and financial performance of global business. In short, they are doing well by doing good. In this outstanding book, Chris Laszlo defines, illustrates, and shows how business can action 'Sustainable Value' in three profoundly different ways. First, a management fable looks at the experiences of a dynamic business leader as she grapples with the new business realities of managing stakeholder, as well as shareholder pressures. Second, with the real thing – inside stories from some of the largest corporations in the world that are successfully integrating sustainability into their core activities, not only from a sense of moral correctness, but because it makes good business sense. And, finally, with frameworks, tools, and methods that will make sustainable value creation concrete for business practitioners everywhere. This book is a masterful synthesis – part novel and part executive briefing – a refreshing kind of prophetic pragmatism, helping leaders anticipate and see the future in the context of the actual. In Sustainable Value Chris Laszlo speaks with resounding clarity to the living challenges, the real dilemmas, and haunting questions of CEOs everywhere.

Quality Investing

Author : Torkell T. Eide
Publisher : Harriman House Limited
ISBN 13 : 0857195123
Total Pages : 179 pages
Book Rating : 4.8/5 (571 download)

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Book Synopsis Quality Investing by : Torkell T. Eide

Download or read book Quality Investing written by Torkell T. Eide and published by Harriman House Limited. This book was released on 2016-01-05 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: Quality. We all make judgments about it every day. Yet articulating a clear definition of quality in an investing context is challenging. This book addresses the challenge, and distills years of practical investing experience into a definitive account of this under-explored investment philosophy. Finance theory has it that abnormal outcomes do not persist, that exceptional performance will soon enough become average performance. Quality investing involves seeking companies with the right attributes to overcome these forces of mean reversion and, crucially, owning these outstanding companies for the long term. This book pinpoints and explains the characteristics that increase the probability of a company prospering over time - as well as those that hinder such chances. Throughout, a series of fascinating real-life case studies illustrate the traits that signify quality, as well as some that flatter to deceive. The authors' firm, AKO Capital, has a strong track record of finding and investing in quality companies - helping it deliver a compound annual growth rate more than double that of the market since inception. Quality Investing sheds light on the investment philosophy, processes and tough lessons that have contributed to this consistent outperformance.

The Good in the Right

Author : Robert Audi
Publisher : Princeton University Press
ISBN 13 : 1400826071
Total Pages : 256 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis The Good in the Right by : Robert Audi

Download or read book The Good in the Right written by Robert Audi and published by Princeton University Press. This book was released on 2009-01-10 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book represents the most comprehensive account to date of an important but widely contested approach to ethics--intuitionism, the view that there is a plurality of moral principles, each of which we can know directly. Robert Audi casts intuitionism in a form that provides a major alternative to the more familiar ethical perspectives (utilitarian, Kantian, and Aristotelian). He introduces intuitionism in its historical context and clarifies--and improves and defends--W. D. Ross's influential formulation. Bringing Ross out from under the shadow of G. E. Moore, he puts a reconstructed version of Rossian intuitionism on the map as a full-scale, plausible contemporary theory. A major contribution of the book is its integration of Rossian intuitionism with Kantian ethics; this yields a view with advantages over other intuitionist theories (including Ross's) and over Kantian ethics taken alone. Audi proceeds to anchor Kantian intuitionism in a pluralistic theory of value, leading to an account of the perennially debated relation between the right and the good. Finally, he sets out the standards of conduct the theory affirms and shows how the theory can help guide concrete moral judgment. The Good in the Right is a self-contained original contribution, but readers interested in ethics or its history will find numerous connections with classical and contemporary literature. Written with clarity and concreteness, and with examples for every major point, it provides an ethical theory that is both intellectually cogent and plausible in application to moral problems.

Value and the Good Life

Author : Thomas L. Carson
Publisher :
ISBN 13 :
Total Pages : 352 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Value and the Good Life by : Thomas L. Carson

Download or read book Value and the Good Life written by Thomas L. Carson and published by . This book was released on 2000 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: For as long as humans have pondered philosophical issues, they have contemplated "the good life." Yet most suggestions about how to live a good life rest on assumptions about what the good life actually is. Thomas Carson here confronts that question from a fresh perspective. Surveying the history of philosophy, he addresses first-order questions about what is good and bad as well as metaethical questions concerning value judgments. Carson considers a number of established viewpoints concerning the good life. He offers a new critique of Mill's and Sidgwick's classic arguments for the hedonistic theory of value, employing thought experiments that invite us to clarify our preferences by choosing between different kinds of lives. He also assesses the desire- or preference-satisfaction theory of value in detail and takes a fresh look at both Nietzsche's Übermensch ideal and Aristotle's theory of the good life. In exploring foundational questions, Carson observes that many established theories rest on undefended assumptions about the truth of moral realism. Arguing against this stand, he defends the view that "good" means "desirable" and presents a divine-preference version of the desire-satisfaction theory. In this he contends that, if there exists a kind and omniscient God who created the universe, then what is good or bad is determined by His preferences; if such a God does not exist, what is good or bad depends on what we as rational humans desire. Value and the Good Life is the only book that defends a divine-preference theory of value as opposed to a divine-command theory of right and wrong. It offers a masterfully constructed argument to an age-old question and will stimulate all who seek to know what the good life truly is.

Dare to Lead

Author : Brené Brown
Publisher : Random House
ISBN 13 : 0399592520
Total Pages : 321 pages
Book Rating : 4.3/5 (995 download)

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Book Synopsis Dare to Lead by : Brené Brown

Download or read book Dare to Lead written by Brené Brown and published by Random House. This book was released on 2018-10-09 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: #1 NEW YORK TIMES BESTSELLER • Brené Brown has taught us what it means to dare greatly, rise strong, and brave the wilderness. Now, based on new research conducted with leaders, change makers, and culture shifters, she’s showing us how to put those ideas into practice so we can step up and lead. Don’t miss the five-part Max docuseries Brené Brown: Atlas of the Heart! ONE OF BLOOMBERG’S BEST BOOKS OF THE YEAR Leadership is not about titles, status, and wielding power. A leader is anyone who takes responsibility for recognizing the potential in people and ideas, and has the courage to develop that potential. When we dare to lead, we don’t pretend to have the right answers; we stay curious and ask the right questions. We don’t see power as finite and hoard it; we know that power becomes infinite when we share it with others. We don’t avoid difficult conversations and situations; we lean into vulnerability when it’s necessary to do good work. But daring leadership in a culture defined by scarcity, fear, and uncertainty requires skill-building around traits that are deeply and uniquely human. The irony is that we’re choosing not to invest in developing the hearts and minds of leaders at the exact same time as we’re scrambling to figure out what we have to offer that machines and AI can’t do better and faster. What can we do better? Empathy, connection, and courage, to start. Four-time #1 New York Times bestselling author Brené Brown has spent the past two decades studying the emotions and experiences that give meaning to our lives, and the past seven years working with transformative leaders and teams spanning the globe. She found that leaders in organizations ranging from small entrepreneurial startups and family-owned businesses to nonprofits, civic organizations, and Fortune 50 companies all ask the same question: How do you cultivate braver, more daring leaders, and how do you embed the value of courage in your culture? In Dare to Lead, Brown uses research, stories, and examples to answer these questions in the no-BS style that millions of readers have come to expect and love. Brown writes, “One of the most important findings of my career is that daring leadership is a collection of four skill sets that are 100 percent teachable, observable, and measurable. It’s learning and unlearning that requires brave work, tough conversations, and showing up with your whole heart. Easy? No. Because choosing courage over comfort is not always our default. Worth it? Always. We want to be brave with our lives and our work. It’s why we’re here.” Whether you’ve read Daring Greatly and Rising Strong or you’re new to Brené Brown’s work, this book is for anyone who wants to step up and into brave leadership.

Doing Public Good?

Author : R. Pablo Guerrero O.
Publisher : Routledge
ISBN 13 : 1351521888
Total Pages : 218 pages
Book Rating : 4.3/5 (515 download)

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Book Synopsis Doing Public Good? by : R. Pablo Guerrero O.

Download or read book Doing Public Good? written by R. Pablo Guerrero O. and published by Routledge. This book was released on 2017-07-05 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the contributions of non-public organizations, such as foundations, philanthropies, charities, non-governmental organizations, private businesses, and entrepreneurs to public goods and services. Too often the impact of the contributions of such private actors are overlooked. However, they are playing an increasing role in meeting societal needs across the developing world.Doing Public Good? lays out key elements that need to be considered in evaluating the net results achieved by these private actors. It uses case studies and analysis to show how to answer such questions as: Is it working? How do they and the public know they are doing good? And how to improve? Such questions are particularly important since little is known about the net results of private avenues for delivering public value.The contributors conclude that "doing good" organizations need to be more transparent and accountable regarding their operations and achievements. The book suggests perspectives on how better monitoring and evaluation systems can improve their accountability.

Hegel's Value

Author : Dean Moyar
Publisher : Oxford University Press, USA
ISBN 13 : 0197532535
Total Pages : 385 pages
Book Rating : 4.1/5 (975 download)

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Book Synopsis Hegel's Value by : Dean Moyar

Download or read book Hegel's Value written by Dean Moyar and published by Oxford University Press, USA. This book was released on 2021 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Justice as the Living Good offers a comprehensive reading of Hegel's social and political philosophy. Two hundred years after the publication of his Philosophy of Right, Hegel's theory of justice remains a viable alternative to the social contract tradition in modern political theory. Hegel's Value shows that underlying Hegel's claims about freedom and history is a theory of value grounded in our dual nature as living and self-conscious beings. While Hegel follows the modern tradition in basing his theory on the free will, he departs from the tradition in emphasizing the expression of the will in valuable action. Hegel's Value argues for the expressive validity of practical inferences as the key to understanding the connection between value and a system of right. Through a close reading of key episodes in the Phenomenology of Spirit and of the entire Philosophy of Right, this study show how Hegel develops his account of justice through an inferentialist conception of reason. Hegel's Value traces the development of right from the basic conception of property rights to an inclusive conception that he calls simply the Good, and finally to a system of just institutions structured by "living" inferential relations. The result is an institutional system governed by a moral ideal but realized through concrete economic and political processes"--

Six Myths about the Good Life

Author : Joel Kupperman
Publisher : Hackett Publishing
ISBN 13 : 1603843809
Total Pages : 170 pages
Book Rating : 4.6/5 (38 download)

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Book Synopsis Six Myths about the Good Life by : Joel Kupperman

Download or read book Six Myths about the Good Life written by Joel Kupperman and published by Hackett Publishing. This book was released on 2006 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt: Joel Kupperman provides an engaging introduction to theories of the good life by exploring the strengths and weakness of six simple statements of what a good life should be. Drawing on classic Chinese, Indian, Greek and Roman sources, Kupperman considers the various ways in which one might think about the values that are worth aiming for, and shows that no simple account can adequately express all that a good life can be.

Doing Good By Doing Good

Author : Peter Baines
Publisher : John Wiley & Sons
ISBN 13 : 0730314863
Total Pages : 280 pages
Book Rating : 4.7/5 (33 download)

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Book Synopsis Doing Good By Doing Good by : Peter Baines

Download or read book Doing Good By Doing Good written by Peter Baines and published by John Wiley & Sons. This book was released on 2014-12-29 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bring the heart of your company into the community with effective CSR Doing Good by Doing Good shows companies how to improve the bottom line by implementing an engaging, authentic, and business-enhancing program that helps staff and business thrive. International CSR consultant Peter Baines draws upon lessons learnt from the challenges faced in his career as a police officer, forensic investigator, and founder of Hands Across the Water to describe the Australian CSR landscape, and the factors that make up a program that benefits everyone involved. Case studies illustrate the real effect of CSR on both business and society, with clear guidance toward maximizing involvement, engaging all employees, and improving the bottom line. The case studies draw out the companies that are focusing on creating shared value in meeting the challenges of society whilst at the same time bringing strong economic returns. Consumers are now expecting that big businesses with ever-increasing profits give back to the community from which those profits arise. At the same time, shareholders are demanding their share and are happy to see dividends soar. Getting this right is a balancing act, and Doing Good by Doing Good helps companies delineate a plan of action for getting it done. Readers will: Define an effective CSR strategy that promotes better business and makes a real impact Understand the current landscape to evaluate the CSR options that are right for your company Understand why corporate philanthropy is no longer enough Identify the hard and soft key performance indicators that help keep your program on track Gain an understanding of the concept of shared value and the importance to business Gain insight into each step of the CSR process, from interest, to information, to implementation The concept of CSR is not new, but traditional "payroll deductions" and "volunteer days" are out-dated and grossly ineffective. Today, companies are building simple, well-constructed programs that are changing business and changing lives on a much grander scale. Doing Good by Doing Good provides a fool proof strategy for CSR planning, with value to the company, employees, and community at large.

Value Investing

Author : Bruce C. Greenwald
Publisher : John Wiley & Sons
ISBN 13 : 9780471463399
Total Pages : 324 pages
Book Rating : 4.4/5 (633 download)

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Book Synopsis Value Investing by : Bruce C. Greenwald

Download or read book Value Investing written by Bruce C. Greenwald and published by John Wiley & Sons. This book was released on 2004-01-26 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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. 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.

It's Not How Good You Are, It's How Good You Want to Be

Author : Paul Arden
Publisher : Phaidon Press
ISBN 13 : 9780714843377
Total Pages : 128 pages
Book Rating : 4.8/5 (433 download)

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Book Synopsis It's Not How Good You Are, It's How Good You Want to Be by : Paul Arden

Download or read book It's Not How Good You Are, It's How Good You Want to Be written by Paul Arden and published by Phaidon Press. This book was released on 2003-06-01 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: " It’s Not How Good You Are, It’s How Good You Want to Be is a handbook of how to succeed in the world: a pocket bible for the talented and timid alike to help make the unthinkable thinkable and the impossible possible. The world’s top advertising guru, Paul Arden, offers up his wisdom on issues as diverse as problem solving, responding to a brief, communicating, playing your cards right, making mistakes, and creativity – all endeavors that can be applied to aspects of modern life. This uplifting and humorous little book provides a unique insight into the world of advertising and is a quirky compilation of quotes, facts, pictures, wit and wisdom – all packed into easy‐to‐digest, bite‐sized spreads. If you want to succeed in life or business, this book is a must. "

Accounting for Value

Author : Stephen Penman
Publisher : Columbia University Press
ISBN 13 : 0231521855
Total Pages : 265 pages
Book Rating : 4.2/5 (315 download)

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Book Synopsis Accounting for Value by : Stephen Penman

Download or read book Accounting for Value written by Stephen Penman and published by Columbia University Press. This book was released on 2010-12-30 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: Accounting for Value teaches investors and analysts how to handle accounting in evaluating equity investments. The book's novel approach shows that valuation and accounting are much the same: valuation is actually a matter of accounting for value. Laying aside many of the tools of modern finance the cost-of-capital, the CAPM, and discounted cash flow analysis Stephen Penman returns to the common-sense principles that have long guided fundamental investing: price is what you pay but value is what you get; the risk in investing is the risk of paying too much; anchor on what you know rather than speculation; and beware of paying too much for speculative growth. Penman puts these ideas in touch with the quantification supplied by accounting, producing practical tools for the intelligent investor. Accounting for value provides protection from paying too much for a stock and clues the investor in to the likely return from buying growth. Strikingly, the analysis finesses the need to calculate a "cost-of-capital," which often frustrates the application of modern valuation techniques. Accounting for value recasts "value" versus "growth" investing and explains such curiosities as why earnings-to-price and book-to-price ratios predict stock returns. By the end of the book, Penman has the intelligent investor thinking like an intelligent accountant, better equipped to handle the bubbles and crashes of our time. For accounting regulators, Penman also prescribes a formula for intelligent accounting reform, engaging with such controversial issues as fair value accounting.