Franchise value a modern approach to security analysis

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franchise value a modern approach to security analysis

Franchise Value: A Modern Approach to Security Analysis by Martin L. Leibowitz

A modern approach to equity valuation Understanding the key ingredients that combine to affect price/earnings (P/Es) is of crucial importance to the investment process. In Franchise Value, Martin Leibowitz tackles the imposing task of determining what really has an impact on P/Es. The author shows why he subscribes to the conventional logic that the P/E gauges the markets assessment of the firms future. He then introduce readers to the franchise-value approach to analyzing the prospective cash flows that determine a companys P/E. The franchise-value approach to valuation enables the analyst or investor to break the firm into two key component parts and to value those components. The franchise value approach is original and insightful, and with this book, readers can begin to implement this approach to perform better equity valuations.

Martin L. Leibowitz, PhD (Stamford, CT), is Vice Chair and Chief Investment Officer at TIAA-CREF, where he is responsible for the overall management of all TIAA-CREF investments. He has authored several books and more than 130 articles, nine of which have received a Financial Analysts Journal Graham and Dodd Award of Excellence.
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Published 03.12.2018

Security Analysis Book Review

Franchise Value: A Modern Approach to Security Analysis

The franchise-value approach to valuation enables the analyst or investor to break the firm into two key component parts and to value those components. The franchise value approach is original and insightful, and with this book, readers can begin to implement this approach to perform better equity valuations. Martin L. He has authored several books and more than articles, nine of which have received a Financial Analysts Journal Graham and Dodd Award of Excellence. Over the subsequent ten years, this FV approach was further developed through a series of papers, four of which received the prestigious Graham and Dodd Awards. Franchise Value is the first book to provide investment practitioners with authoritative and comprehensive guidance on the use of this adaptable and insightful approach.

Seller Rating:. Condition: Good. A copy that has been read, but remains in clean condition. All pages are intact, and the cover is intact. The spine may show signs of wear. Pages can include limited notes and highlighting, and the copy can include previous owner inscriptions. Seller Inventory GI3N

Franchise Value: A Modern Approach to Security Analysis

Investors and analysts in today's fiercely competitive global equities market are finding traditional valuation models to be unrealisticallystatic-andwoefullyinadequate-for reliably valuing companies and their stock. Over the subsequent ten years, this FV approach was further developed through a series of papers, four of which received the prestigious Graham and Dodd Awards. - The arrival of Franchise Value could not be more timely for the practice of security analysis.

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4 thoughts on “Franchise Value: A Modern Approach to Security Analysis by Martin L. Leibowitz

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