Applied value investing : the practical applications of Benjamin Graham's and Warren Buffett's valulation principles to acquisitions, catastrophe pricing, and business execution

Since Benjamin Graham fathered value investing in the 1930s, the method of analysis has spawned a large number of highly successful investors, such as Graham's own former student and employee, Warren Buffett, who is regarded as one of the most successful investors of modern times. Over the years, numerous books have been published on Benjamin Graham's approach. Most of these books present different interpretations of value investing and are generally introductory based. Until now, there has not been an advanced hands-on guide for investors and executives who may want to apply the powerful value investing discipline outside of stocks and bonds. Applied Value Investing takes the same time-proven approach Graham introduced with David Dodd in their 1934 masterpiece, Security Analysis, and extends it in a variety of unique and practical ways—including mergers and acquisitions, alternative investments, and financial strategy. This in-depth guide shows financially sophisticated readers how to use value investing in a macroinvesting framework and how to apply it to the emerging area of super catastrophe valuation. It illustrates how to put value investing to use with case studies on: Eddie Lampert's acquisition of Sears Warren Buffett's acquisitions of GEICO and General Reinsurance Corporation The recent "new economy" boom and bust, and its aftermath The underwriting of the Pepsi Play for a Billion sweepstakes Applied Value Investing also demonstrates how to incorporate the cornerstones of valuation into an integrated business framework that can be used to assess and manage a franchise (or a firm operating with a sustainable competitive advantage). In addition to its cutting-edge applications of value investing principles, Applied Value Investing sets itself apart by drawing on material published in leading academic journals to form the foundation of its presentation. However, value investing is inherently practical, and this comprehensive resource provides helpful guidance for successfully implementing value investing strategies in the real world. To profit like the masters you have to think like them. Applied Value Investing can open new doors to value creating opportunities. Brand-new ways to apply the ideas of two investing giants The practice of value investing has spawned a large number of highly successful investors since it was first introduced in the 1930s. Ithas also been the subject of a number of popular books including Benjamin Graham's own works, such as the seminal Security Analysis.While other value-investing books introduce a new variation on the value-investing theme, Applied Value Investing adopts the modern Graham and Dodd approach and applies it in a variety of unique and practical ways. Sophisticated investors will learn innovative new ways of applying a value-investing approach to mergers and acquisitions (M&A) and alternative investing. This in-depth guide uses detailed case studies demonstrating how Graham and Dodd insights can be used in a macro-investing framework and applied to the emerging area of super-catastrophe valuation. It also shows financial analysts, money managers, and other professio- nals how to incorporate valuation in general into an integrated business analytical framework A unique addition to the Graham literature. Using detailed case studies, Calandro teaches financially sophisticated readers how to apply Graham & Dodd principles not just to stocks and bonds, but to Mergers & Acquisitions, alternative investments and to management in general.