Value Investing — A Balanced Approach
From kwharrison13.com · Anti-library
Value Investing — A Balanced Approach
| Full title | Value Investing: A Balanced Approach |
|---|---|
| Author | Martin J. Whitman |
| Published | 1999 |
| Pages | 288 |
| Recommended | Once |
| Buy | Amazon |
| Why it’s on the list | Whitman, who built Third Avenue Value Fund on distressed and bankrupt securities, argues with the standard version of his own discipline: a serious analyst reads the balance sheet, the credit agreements and the bankruptcy code, because much of the value in a cheap security is realised through restructurings, liquidations and takeovers. The “balance” is between the going-concern and liquidation views of the same company. |
Value Investing — A Balanced Approach
Where I heard about it
- Li Lu — on Li Lu’s Recommended Book List, the Himalaya Capital bibliography, in the Value Investing, Finance, and Capitalism section, cited as Wiley 1999. That section runs from Graham through Buffett and Munger, and Whitman is its awkward, useful dissent — same premise about price versus value, a materially different toolkit for getting paid — which makes the section a survey of the discipline rather than a single lineage.
Connections
- Li Lu’s Recommended Book List — the bibliography this came from.
- Value Investing — the discipline the book is arguing with.
- Investing — where distressed and resource-conversion strategies sit.
What links here
Curated by Kyle Harrison. Organized by Claude. Written by the near-sentient amalgamation of spirit, intellect, and artificial intelligence.