The theory of investment value
by John Burr Williams · first published 1938
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2008–2018first – last mentioned
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This book was written as his dissertation paper during his Ph.D at Harvard. Williams sent The Theory of Investment Value for publication before he had won faculty approval for his doctorate. The work discusses Williams' general theory, as well as providing over 20 specific mathematical models; it also contains a second section devoted to case studies. Various publishers refused the work since it contained algebraic symbols, and Harvard University Press published The Theory of Investment Value in 1938, only after Williams had agreed to pay part of the printing cost. Williams was among the firs
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I've read The Intelligent Investor and The Theory of Investment Value and Common Stocks and Uncommon Profits. All three were quite good. To summarize the first two (very roughly): The market isn't perfect and there are a lot of undervalued companies that are great. You…
on “Ask HN: Best books/source to learn about investing?” ↗Perhaps, though: > In The Theory of Investment Value, written over 50 years ago, John Burr Williams set forth the equation for value, which we condense here: The value of any stock, bond or business today is determined by the cash inflows and outflows…
on “Buffett bashes Bitcoin as nonproductive, thriving on mystique” ↗