Description of A Modern Approach to Graham and Dodd Investing
An updated approach to classic security analysis The principles of value investing outlined by Graham and Dodd in the 1940s continues to be used today by individuals and companies who face challenging investment decisions. A Modern Approach to Graham and Dodd Investing examines the classic Graham and Dodd approach to valuation and updates it for the twenty-first century. Thomas Au, a credentialed analyst with a leading insurance company and an ex-Value Line analyst, reworks the basics of value investing from net present value, financial statement analysis, and return on capital to return and leverage, asset allocation, and diversification. Through case studies and real-time analysis, A Modern Approach to Graham and Dodd Investing presents readers with examples that will make analysis and portfolio theory more relevant and powerful. Thomas P. Au (Hartford, CT) is a Vice President and Portfolio Manager for the investment arm of a large insurance and healthcare provider. His specialty is emerging and international markets. He received his BA, cum laude, with a double major in economics and history, from Yale University, and an MBA in finance from New York University.
Contents of A Modern Approach to Graham and Dodd Investing
Part 1: Basic Concepts
1. Introduction
2. Investment Evaluation and Strategies
Part 2: Fixed Income Evaluation
3. Foundation of Fixed Income
4. Fixed Income Issues of Corporations
5. Distressed Fixed Income
Part 3: Equity Evaluation
6. Cash Flows and Capital Expenditures
7. Analysis of Asset Value
8. Some Observations on the Value of Dividends
9. Some Warnings About the Use of Earnings in Valuation
10. Sales Analysis
Part 4: Special Vehicles for Investment
11. A Graham and Dodd Approach to Mutual Funds
12. A Graham and Dodd Approach to International Investing
13. A Graham and Dodd View of Real Estate
Part 5: Portfolio Management
14. The Question of Asset Allocation
15. The Concepts of Graham Dodd versus Modern Theories
16. Case Studies in Graham and Dodd Investing
17. A Real Time Experiment
Part 6: Some Contempory Issues
18. A Historical View of the Dow and the Market
19. Some Disquieting Thought on the Excessive Credit Creation
20. Generational Cycles in the American Stock Market
About Thomas P Au
THOMAS P. AU is a Vice President and Portfolio Manager for the investment arm of a large insurance and healthcare provider. His specialty is emerging and international markets. He has also worked for Unifund, an emerging markets firm in Geneva, Switzerland. Previously, he was an analyst for Value Line, an investment information company in New York City, serving in various capacities from 1983 to 1994. Mr. Au has received his BA, cum laude, with a double major in economics and history, from Yale University, and an MBA in finance from New York University.
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