|
Benjamin Graham, the "father of fundamental investing,"
showed the way from speculation (based on tips, intuition ,
and guesswork) to investing as a disciplined, quantitative analysis
of a company's fundamentals (such as earnings, dividends,
assets, debt, financial structure, and the history of all these
items over time). Graham's style , known as value investing,
focuses on a company's intrinsic value (i.e.inherent value), buying stocks only when
the market price is well below the intrinsic value per share.
Benjamin Graham was himself a remarkably successful investor,
and his prize student, Warren Buffett, applied Graham's
principles to become perhaps the most successful investor in
history.
Growth
investing seeks to spot companies entering a period
of vigorous and rapid expansion. Pioneered by T. Rowe Price
in the 1930's, this style has been well suited to capitalize
on America's industrial boom after World
War II, with the rise of such companies as Xerox,
Microsoft, Blockbuster Video, Home Depot, and Liz Claiborne,
In addition to finding specialized growth companies,
Price specified several criteria for a growth industry.
These are (1) high quality R & D; (2) limited competition;
(3) few government regulations; (4) well-paid employees but
low labor costs; (5) a strong possibility of high return on
invested capital; and (6) superior growth in earnings per share.
Growth investors must have the nerve to handle risk and the
financial wherewithal to endure volatile market conditions.
|
|
On
two audiotapes
Run time: about three hours total
Narrator:
Louis Rukeyser
Author: Roger Lowenstein (Benjamin Graham and Fundamental
Analysis)
Author: Janet Lowe (Value Investing and Growth Investing)
Editor: Mark Skousen
Publisher: Knowledge Products, Inc.
|
Item
# 10604
Price: $17.95
|
