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The Conscious Investor : Profiting from the Timeless Value Approach - John Price

The Conscious Investor

Profiting from the Timeless Value Approach

Hardcover Published: 5th October 2010
ISBN: 9780470604380
Number Of Pages: 384

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An intriguing look at the full range of value methods brought together for the first time

The biggest block to success in the stock market is unconscious investing, or following the crowd without asking the right questions such as: "What is it really worth?" Even more fundamental is: "What rate of return can I confidently expect to get?" Without having the methods to answer these questions is like trying to sail a boat without a rudder.

The Conscious Investor covers each of the main methods used to calculate value or return in the stock market, along with descriptions of how and when to use them, as well as their strengths and weaknesses. Interspersed throughout the methods are the timeless investment principles of Benjamin Graham and Warren Buffett.

The book:

  • Includes balance sheet methods, dividend discount methods, discounted cash flow methods, price ratio methods, and many others
  • Explains the significance of viewing real value as a combination of a stock's price or market value and its intrinsic value
  • Comes with free access to key functions in the author's Conscious Investor software
The Conscious Investor is indispensable reading for everyone with an interest in investing in the stock market, from novices to experienced professionals. Using this book as your guide, you'll quickly discover what it takes to be a conscious investor and gain more confidence in knowing what and when to buy, when to hold, and when to sell.

About the Author

John Price is the developer of Conscious Investor, a software system for investing, based on the stock valuation methods of Warren Buffett. Dr. Price started his career as a mathematician, teaching finance and mathematics at major universities around the world. After publishing more than sixty papers in peer-reviewed journals and two books on mathematics, physics, and finance, he spent a decade evaluating different stock valuation methods. He has appeared on Bloomberg Radio, Fox News, and Bloomberg Television, and has been interviewed by leading financial journals. Dr. Price is a highly regarded speaker and has consulted to major financial institutions, including Bankers Trust.

"The Conscious Investor is an extraordinarily comprehensive and intensive study of valuation methods. John Price lays out all the approaches to identifying mispriced stocks and systematically details their comparative strengths and weaknesses. The result is a book of exceptional practical value for serious investors." - Martin Fridson, Global Credit Strategist, BNP Paribas Asset Management; coauthor, Financial Statement Analysis: A Practitioner's Guide

"Every once in a while someone takes the trouble to step back from the noise of investing to renew our perspective. In providing us with the tools to answer the question 'what is it really worth?' John Price has done just that. His advice is not only as timeless as the value-based approach he advocates, it's also refreshingly insightful." - James O'Loughlin, CEO, JOL Consulting; author, The Real Warren Buffett: Managing Capital, Leading People

"Only someone with Dr. Price's mathematical background could separate story telling from fact when it comes to valuing a stock. His excellent book walks the reader through the different methods of calculating value and does the investing community a great service. This book should be on the desk of every investor." - Charles Mizrahi, editor, Hidden Values Alert and The Inevitable Wealth Portfolio; author, Getting Started in Value Investing

"Author and financial mathematician John Price is appropriately named to write a book explaining the difference between price and value. So often investors confuse the two terms and unconsciously think that price is equal to value. Readers of this book will never make that mistake and only invest when an asset is trading at a price below its value." - Robert P. Miles, author, The Warren Buffett CEO

"There may be more to being a savvy and rational investor than can be learned from this excellent book, but not much. John has made a large part of the wisdom of the world's greatest investors accessible to anyone." - Steve Dalton, Director of Analytics, Tradition Group; Director, Eigensys Ltd; author, Financial Applications Using ExcelAdd-in Development in C/C++

"Packed with useful tips to improve your stock market results." - Hewitt Heiserman, author, It's Earnings That Count

Acknowledgments.

Introduction.

Chapter 1 What Is Intrinsic Value?

Chapter 2 Price Is What You Pay. . . .

Chapter 3 . . . Value Is What You Get.

Chapter 4 Follow the Money.

Chapter 5 Everything Is Number and Ratio.

Chapter 6 Measuring Value by Taking Snapshots.

Chapter 7 A Bird in the Hand.

Chapter 8 The Joy of Dividends.

Chapter 9 Don?t Get Mad, Get Even.

Chapter 10 PEG and Friends.

Chapter 11 What Rate of Return Can I Expect?

Chapter 12 Please, Sir, I Want Some More.

Chapter 13 Forecasting and the Three Most Important Words in Investing.

Chapter 14 Where Do We Go from Here?

Appendix A Relationship between Return on Equity and Growth of Earnings.

Appendix B Calculations for Discount Methods.

Notes.

Glossary.

About the Author.

Disclaimer.

Index.

ISBN: 9780470604380
ISBN-10: 0470604387
Series: Wiley Finance
Audience: General
Format: Hardcover
Language: English
Number Of Pages: 384
Published: 5th October 2010
Publisher: John Wiley and Sons Ltd
Country of Publication: GB
Dimensions (cm): 23.8 x 16.0  x 3.3
Weight (kg): 0.58
Edition Number: 1