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Security Analysis and Business Valuation on Wall Street, + Companion Web Site: A Comprehensive Guide to Today's Valuation Methods

Security Analysis and Business Valuation on Wall Street, + Companion Web Site: A Comprehensive Guide to Today's Valuation Methods
Author: Jeffrey C. Hooke
ISBN 13: 9780470277348
ISBN 10: 470277343
Edition: 2
Publisher: Wiley
Publication Date: 2010-05-03
Format: Hardcover
Pages: 480
List Price: $95.00

Two major market crashes, numerous financial and accounting scandals, growth in private equity and hedge funds, Sarbanes-Oxley and related regulations, and international developments have changed security analysis and business valuation substantially over the past fourteen years. These events necessitated a second edition of this modern classic, praised earlier by Barron's as a "welcome successor to Graham and Dodd" and regarded by certified financial analysts (CFAs) as one of the most insightful valuation guides available.

The Second Edition of Security Analysis and Business Valuation on Wall Street examines how mutual funds, private equity funds, hedge funds, institutional money managers, investment banks, business appraisers, and corporate acquirers perform their craft of security analysis and business valuation in today's highly charged economic environment.

Completely updated to reflect the latest methodologies—and featuring a companion Website (www.wiley.com/go/hooke) containing valuation spreadsheets—this reliable resource represents the most comprehensive look at this discipline by someone who has actually worked as an investment banker, a private equity executive, and an international institutional investor.

Filled with in-depth insights and expert advice, this timely guide:

  • Shows the methodical process that practitioners use to value common stocks and operating companies and to make buy/sell decisions

  • Addresses how the Internet and computing power automate portions of the research and analytical effort

  • Includes new case study examples representative of valuation issues faced daily by professionals in this field

  • Discusses the impact of the two stock market crashes, the accounting and financial scandals, and new regulations on the evaluation process

  • Is a perfect tool for professors wishing to show their MBA students the essential tools of equity and business valuation

Security analysis and business valuation are core financial disciplines for those on Wall Street as well as corporate acquirers, business appraisers, and international investors. The Second Edition of Security Analysis and Business Valuation on Wall Street is an important book for anyone who needs a solid grounding in these critical financial topics.

TheStreet.com for ABCNEWS.com - George Mannes

In the weighty text, Hooke has written a step-by-step explanation of how to analyze stocks and research reports. He takes the reader from basic yardsticks used to judge companies—intrinsic value, relative value and acquisition value—and goes all the way to analyzing stocks in emerging, overseas markets.... Hooke infuses Security Analysis on Wall Street with clear thought and healthy skepticism.... Hooke explains financial pitfalls to avoid, like not confusing growth in companywide revenues and earnings with earnings per share, which is where things ultimately matter to individual stockholders. As with other parts of the book, he cites a specific company.... He also walks through special cases, such as cash-flow stocks, or those companies judged by the cash they generate from operations rather than bottom-line earnings. Others discussed include natural-resource stocks, financial-industry stocks, highly speculative stocks and distressed securities and turnarounds.
A 424-page volume that's priced at $69.95, Security Analysis on Wall Street isn't your average weekend-at-the-beach read. Targeted at serious investors, investment professionals, corporate managers and MBA students, the book isn't as simple a read as a "Ten Stocks to Watch" article you might find in a glossy investment magazine... Whether Hooke will inherit Graham & Dodd's mantle is too early to tell. But for diligent investors, it's a good start.