May 2011
Intermediate to advanced
320 pages
8h 14m
English
Content preview from What Would Ben Graham Do Now?: A New Value Investing Playbook for a Global AgeBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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3. Value Point
I summarized value point as asking three questions and getting four answers, as shown in Figure 3.1. On the surface, this is very similar to traditional value investing (such as buying a good company cheap). However, significant extra detail is included within the treatment of the margin of safety (Question 3 in the figure) to deal with all the mentioned problems when “going global.” The previous chapter’s focus on the mechanics of Graham’s Method and on building uncertainty analysis into the language of value investing was in order to address the added complexities of Question 3.
Figure 3.1. Value point
For all effective purposes, ...
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