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Value Trap
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Book Synopsis Value Trap: Theory of Universal Valuation by : Brian M. Nelson
Download or read book Value Trap: Theory of Universal Valuation written by Brian M. Nelson and published by . This book was released on 2020-07-20 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: With an added Appendix and 40+ page Prologue, the second edition of the 2019 Best Indie Book Award (BIBA) winner for the category of Business takes readers through the COVID-19 crisis, building on the key tenets of the first edition. Value Trap received acclaim from the prestigious Next Generation Indie Book Awards, a Finalist in the category of Business. The text was also a Blue Ink Notable Book as well as a Readers' Favorite 5 Stars, named Honorable Mention in the Non-Fiction - General genre. More detail and new commentary, the second edition of Value Trap is a must read for any serious investor. Brian Michael Nelson, CFA, delivers again.From the back cover: "Nelson's career ranges from his beginnings as an analyst at Driehaus Capital Management to his career as director of global equity and credit research at Morningstar, to the recent establishment of his own investment publishing research firm, Valuentum Securities. Here, the equity-markets veteran explores his analytical framework for evaluating stocks, cautioning against investors getting lured into "value traps," scenarios where seemingly inexpensive stocks attract bargain hunters but continue to decline. Nelson maintains that shortcomings in prevalent financial analysis and investing include misguided focus on historical data, misinterpretation of common metrics, overreliance on indexing, and myopic pursuit of dividend-paying stocks. Instead, he believes enterprise valuation, which considers cash-based sources of intrinsic value of a company, should prevail. Well-researched and organized, the book offers a compelling wealth of information and serious discussion of market theory. It will likely overwhelm all but the most seasoned investors, and cynics may see it as a device to recruit readers to the author's business. Nonetheless, it stands on its considerable merits as a well-written and cogent articulation of a distinct perspective on equity analysis." - BlueInk Review of the first edition as published in the June 2019 spread of Booklist Magazine
Book Synopsis Escaping the Build Trap by : Melissa Perri
Download or read book Escaping the Build Trap written by Melissa Perri and published by O'Reilly Media. This book was released on 2018-11-01 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: To stay competitive in today’s market, organizations need to adopt a culture of customer-centric practices that focus on outcomes rather than outputs. Companies that live and die by outputs often fall into the "build trap," cranking out features to meet their schedule rather than the customer’s needs. In this book, Melissa Perri explains how laying the foundation for great product management can help companies solve real customer problems while achieving business goals. By understanding how to communicate and collaborate within a company structure, you can create a product culture that benefits both the business and the customer. You’ll learn product management principles that can be applied to any organization, big or small. In five parts, this book explores: Why organizations ship features rather than cultivate the value those features represent How to set up a product organization that scales How product strategy connects a company’s vision and economic outcomes back to the product activities How to identify and pursue the right opportunities for producing value through an iterative product framework How to build a culture focused on successful outcomes over outputs
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.
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.
Download or read book The Content Trap written by Bharat Anand and published by Random House Group. This book was released on 2016-10-18 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt: “My favorite book of the year.”—Doug McMillon, CEO, Wal-Mart Stores Harvard Business School Professor of Strategy Bharat Anand presents an incisive new approach to digital transformation that favors fostering connectivity over focusing exclusively on content. NAMED ONE OF THE BEST BOOKS OF THE YEAR BY BLOOMBERG Companies everywhere face two major challenges today: getting noticed and getting paid. To confront these obstacles, Bharat Anand examines a range of businesses around the world, from The New York Times to The Economist, from Chinese Internet giant Tencent to Scandinavian digital trailblazer Schibsted, and from talent management to the future of education. Drawing on these stories and on the latest research in economics, strategy, and marketing, this refreshingly engaging book reveals important lessons, smashes celebrated myths, and reorients strategy. Success for flourishing companies comes not from making the best content but from recognizing how content enables customers’ connectivity; it comes not from protecting the value of content at all costs but from unearthing related opportunities close by; and it comes not from mimicking competitors’ best practices but from seeing choices as part of a connected whole. Digital change means that everyone today can reach and interact with others directly: We are all in the content business. But that comes with risks that Bharat Anand teaches us how to recognize and navigate. Filled with conversations with key players and in-depth dispatches from the front lines of digital change, The Content Trap is an essential new playbook for navigating the turbulent waters in which we find ourselves. Praise for The Content Trap “A masterful and thought-provoking book that has reshaped my understanding of content in the digital landscape.”—Ariel Emanuel, co-CEO, WME | IMG “The Content Trap is a book filled with stories of businesses, from music companies to magazine publishers, that missed connections and could never escape the narrow views that had brought them past success. But it is also filled with stories of those who made strategic choices to strengthen the links between content and returns in their new master plans. . . . The book is a call to clear thinking and reassessing why things are the way they are.”—The Wall Street Journal
Book Synopsis Beyond Selling Value by : Mark Shonka
Download or read book Beyond Selling Value written by Mark Shonka and published by Kaplan Test Prep. This book was released on 2002-09-16 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: How to sell value, increase margins, make price irrelevant, win executive-level credibility, and create competitive immunity. Selling value is taking on a whole new meaning for sales professionals. Here's a proven process pros can use to address their customer's pressing business issues, position themselves as strategic partners, and recommend solutions that improve the way their customers do business. In Beyond Selling Value, top sales consultants Mark Shonka and Dan Kosch share their proven process for becoming a critical partner in their customers' success. From targeting the most promising prospects, to bypassing the gatekeepers, to reaching the decision makers who are empowered to buy, and to closing the deal with a powerful presentation, the authors impart their battle tested secrets to forging long term business relationships. For sales professionals tired of being beaten up on price, here is a new way to leverage their strengths, elevate their sales game, and establish relationships with those who appreciate their value. Selling Power magazine calls it "a detailed, street smart roadmap".
Download or read book The Money Trap written by R. Pringle and published by Springer. This book was released on 2012-06-07 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world economy is caught in a money trap. Existing monetary arrangements meet the needs neither of the ageing societies of the West nor of younger emerging economies. This in-depth analysis explains how the world got into the grip of global finance - and how it can escape, with a growing demand for reform.
Download or read book CFROI Valuation written by Bartley Madden and published by Elsevier. This book was released on 1999-02-15 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: What generates shareholder value? How can it be evaluated? How can it influence investment decisions and corporate strategy? Cash Flow Return On Investment answers all these questions by detailing the pioneering financial research carried out by HOLT Value Associates, the leading consultancy in the field. Read this book if you want to find out what really drives the wealth generation in any business, allowing you to pick which equities will succeed and which strategic initiatives are destined for high returns. The CFROI model is an essential tool for professionals working in finance and corporate strategy. It clarifies how economic value is created in a firm and acts as a reliable guide to: * making investment decisions * taking key strategic decisions * understanding economic value Shows how to judge and compare individual equities across markets and company sectors Cutting edge theory and practice The leading book about shareholder value authored by one of the world's leading consultancies in the field
Book Synopsis The Meritocracy Trap by : Daniel Markovits
Download or read book The Meritocracy Trap written by Daniel Markovits and published by Penguin. This book was released on 2020-09-08 with total page 450 pages. Available in PDF, EPUB and Kindle. Book excerpt: A revolutionary new argument from eminent Yale Law professor Daniel Markovits attacking the false promise of meritocracy It is an axiom of American life that advantage should be earned through ability and effort. Even as the country divides itself at every turn, the meritocratic ideal – that social and economic rewards should follow achievement rather than breeding – reigns supreme. Both Democrats and Republicans insistently repeat meritocratic notions. Meritocracy cuts to the heart of who we are. It sustains the American dream. But what if, both up and down the social ladder, meritocracy is a sham? Today, meritocracy has become exactly what it was conceived to resist: a mechanism for the concentration and dynastic transmission of wealth and privilege across generations. Upward mobility has become a fantasy, and the embattled middle classes are now more likely to sink into the working poor than to rise into the professional elite. At the same time, meritocracy now ensnares even those who manage to claw their way to the top, requiring rich adults to work with crushing intensity, exploiting their expensive educations in order to extract a return. All this is not the result of deviations or retreats from meritocracy but rather stems directly from meritocracy’s successes. This is the radical argument that Daniel Markovits prosecutes with rare force. Markovits is well placed to expose the sham of meritocracy. Having spent his life at elite universities, he knows from the inside the corrosive system we are trapped within. Markovits also knows that, if we understand that meritocratic inequality produces near-universal harm, we can cure it. When The Meritocracy Trap reveals the inner workings of the meritocratic machine, it also illuminates the first steps outward, towards a new world that might once again afford dignity and prosperity to the American people.
Download or read book The Happiness Trap written by Russ Harris and published by Exisle Publishing. This book was released on 2013 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: A guide to ACT: the revolutionary mindfulness-based program for reducing stress, overcoming fear, and finding fulfilment – now updated. International bestseller, 'The Happiness Trap', has been published in over thirty countries and twenty-two languages. NOW UPDATED. Popular ideas about happiness are misleading, inaccurate, and are directly contributing to our current epidemic of stress, anxiety and depression. And unfortunately, popular psychological approaches are making it even worse! In this easy-to-read, practical and empowering self-help book, Dr Russ Harries, reveals how millions of people are unwittingly caught in the 'The Happiness Trap', where the more they strive for happiness the more they suffer in the long term. He then provides an effective means to escape through the insights and techniques of ACT (Acceptance and Commitment Therapy), a groundbreaking new approach based on mindfulness skills. By clarifying your values and developing mindfulness (a technique for living fully in the present moment), ACT helps you escape the happiness trap and find true satisfaction in life. Mindfulness skills are easy to learn and will rapidly and effectively help you to reduce stress, enhance performance, manage emotions, improve health, increase vitality, and generally change your life for the better. The book provides scientifically proven techniques to: reduce stress and worry; rise above fear, doubt and insecurity; handle painful thoughts and feelings far more effectively; break self-defeating habits; improve performance and find fulfilment in your work; build more satisfying relationships; and, create a rich, full and meaningful life.
Book Synopsis Do you really want to master value investing? by : Dato' H.C. Eu
Download or read book Do you really want to master value investing? written by Dato' H.C. Eu and published by H.C. Eu. This book was released on 2022-11-01 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: For the retail investor, the stock market is a zero-sum game. You make money at the expense of another. Yet you can be the winner and make money. You do this by developing your value investing skills through a combination of education, practice, and ongoing refinements. The book provides concepts, worked examples and links to free online resources to enable this. While there are many ways to develop your value investing skills, you should learn from this book if: a) You don't have the time to follow a formal course and want to self-study. b) You learn better through text rather than through other mediums. c) You want a cost-effective yet in-depth dive into the subject. This book is based on the author’s 2 decades experience of value investing, as well as running listed companies as the CEO. It differs from other value investing book by: • Sharing practical insights based on the author's investing experience. • Using lessons from the author's self-study journey to provide step-by-step guide to real life case studies. • Sharing company analysis insights based on the author's business experience. By the time you finish the book, you will be able to answer 4 key investing questions. • What to buy? • How much to buy? • When to buy or sell? • How to mitigate risks? The central tenet of the book is how to avoid permanent loss of capital, the value investor’s view of risk. The author shows how to pull the various learning lessons into a value investment process that avoids permanent loss of capital. It provides a comprehensive approach from determining how much of your net worth should be allocated for stocks to picking individual stocks for your stock portfolio.
Book Synopsis The Dollar Trap by : Eswar S. Prasad
Download or read book The Dollar Trap written by Eswar S. Prasad and published by Princeton University Press. This book was released on 2015-08-25 with total page 438 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why the dollar is—and will remain—the dominant global currency The U.S. dollar's dominance seems under threat. The near collapse of the U.S. financial system in 2008–2009, political paralysis that has blocked effective policymaking, and emerging competitors such as the Chinese renminbi have heightened speculation about the dollar’s looming displacement as the main reserve currency. Yet, as The Dollar Trap powerfully argues, the financial crisis, a dysfunctional international monetary system, and U.S. policies have paradoxically strengthened the dollar’s importance. Eswar Prasad examines how the dollar came to have a central role in the world economy and demonstrates that it will remain the cornerstone of global finance for the foreseeable future. Marshaling a range of arguments and data, and drawing on the latest research, Prasad shows why it will be difficult to dislodge the dollar-centric system. With vast amounts of foreign financial capital locked up in dollar assets, including U.S. government securities, other countries now have a strong incentive to prevent a dollar crash. Prasad takes the reader through key contemporary issues in international finance—including the growing economic influence of emerging markets, the currency wars, the complexities of the China-U.S. relationship, and the role of institutions like the International Monetary Fund—and offers new ideas for fixing the flawed monetary system. Readers are also given a rare look into some of the intrigue and backdoor scheming in the corridors of international finance. The Dollar Trap offers a panoramic analysis of the fragile state of global finance and makes a compelling case that, despite all its flaws, the dollar will remain the ultimate safe-haven currency.
Book Synopsis Beating the Commodity Trap by : Richard A. D'Aveni
Download or read book Beating the Commodity Trap written by Richard A. D'Aveni and published by Harvard Business Press. This book was released on 2010 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, Richard D'Aveni provides a radical new framework for fighting commoditization. Drawing on an in-depth study of more than 30 industries, he provides a tool for diagnosing your competitive position and shows you how to strengthen it.
Book Synopsis The Entitlement Trap by : Richard Eyre
Download or read book The Entitlement Trap written by Richard Eyre and published by Penguin. This book was released on 2011-09-06 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dump the allowance-and use a new "Family Economy" to raise responsible children in an age of instant gratification. Number-one New York Times bestselling authors Richard and Linda Eyre, have spent the last twenty-five years helping parents nurture strong, healthy families. Now they've synthesized their vast experience in an essential blueprint to instilling children with a sense of ownership, responsibility, and self-sufficiency. At the heart of their plan is the "Family Economy" complete with a family bank, checkbooks for kids, and a system of initiative-building responsibilities that teaches kids to earn money for the things they want. The motivation carries over to ownership of their own decisions, values, and goals. Anecdotal, time-tested, and gently humorous, The Entitlement Trap challenges some of the sacred cows of parenting and replaces them with values that will save kids (and their parents) from a lifetime of dependence and disabling debt.
Book Synopsis Engine of Impact by : William F. Meehan III
Download or read book Engine of Impact written by William F. Meehan III and published by Stanford University Press. This book was released on 2017-11-14 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: We are entering a new era—an era of impact. The largest intergenerational transfer of wealth in history will soon be under way, bringing with it the potential for huge increases in philanthropic funding. Engine of Impact shows how nonprofits can apply the principles of strategic leadership to attract greater financial support and leverage that funding to maximum effect. As Good to Great author Jim Collins writes in his foreword, this book offers "a detailed roadmap of disciplined thought and action for turning a good nonprofit into one that can achieve great impact at scale." William F. Meehan III and Kim Starkey Jonker identify seven essential components of strategic leadership that set high-achieving organizations apart from the rest of the nonprofit sector. Together, these components form an "engine of impact"—a system that organizations must build, tune, and fuel if they hope to make a real difference in the world. Drawing on decades of teaching, advising, grantmaking, and research, Meehan and Jonker provide an actionable guide that executives, staff, board members, and donors can use to jumpstart their own performance and to achieve extraordinary results for their organization. Along with setting forth best practices using real-world examples, the authors outline common management challenges faced by nonprofits, showing how these challenges differ from those faced by for-profit businesses in important and often-overlooked ways. By offering crucial insights on the fundamentals of nonprofit management, this book will help leaders equip their organizations to fire on all cylinders and unleash the full potential of the nonprofit sector. Visit www.engineofimpact.org for additional information.
Download or read book The Trade Trap written by Belinda Coote and published by . This book was released on 1996 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work explains how countries that depend on the export of primary commodities, like coffee or cotton, are caught in a trap: the more they produce the lower the price falls on the international market. If they try to add value to their commodities by processing them, they run into tariff barriers imposed by the rich industrialized nations. To make matters worse, they have to compete with subsidized exports dumped on the world market by rich surplus-product countries. This edition contains an additional chapter which reports on the outcome of the Uruguay Round of the General Agreement on Tariffs and Trade (GATT) and the creation of the new World Trade Organization. It examines the impact of rapid economic liberalization on the livelihoods and natural environments of poor communities and recommends ways in which trade could be regulated to protect their rights. The book explains the complexities of the world trade system and examines what poor countries can do about the trap in which they find themselves.
Book Synopsis The Great Mutual Fund Trap by : Gregory Arthur Baer
Download or read book The Great Mutual Fund Trap written by Gregory Arthur Baer and published by Broadway. This book was released on 2002 with total page 335 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on years of experience, two financial experts warn investors of the potential financial hazards of mutual funds, discussing the hidden costs of such funds, providing realistic insights into how such funds operate, and offering helpful advice on how to protect one's investments.
