{"id":1747,"date":"2010-08-31T08:43:16","date_gmt":"2010-08-31T12:43:16","guid":{"rendered":"http:\/\/www.credittrends.com\/blog\/?p=1747"},"modified":"2010-09-01T13:34:29","modified_gmt":"2010-09-01T17:34:29","slug":"buy-this-book-you-need-to-learn-about-risk-and-valuation","status":"publish","type":"post","link":"https:\/\/www.credittrends.com\/blog\/2010\/08\/31\/buy-this-book-you-need-to-learn-about-risk-and-valuation\/","title":{"rendered":"Buy This Book-You Need to Learn About Risk and Valuation"},"content":{"rendered":"

If you wonder why HPQ is now trading, despite the huge buyback announcement, which, when combined with its remainning $4.1 authorization, totals 16% of its outstanding shares, back to where it was on Friday, you need the book to your right: Security Valuation and Risk Analysis<\/a>:<\/em><\/strong><\/p>\n

\"\"

<\/p>\n

If you reccognize risk is as important to quantify as future cash flows, you need this book.<\/p>\n

Twenty years ago when I wrote “Cash Flow and Security Analysis<\/a>” I knew it would be a\u00a0landmark\u00a0book, which it became—this book is of greater significance as it brings\u00a0forward\u00a0my\u00a0principles\u00a0and\u00a0worksheets\u00a0related to risk<\/em>.<\/p>\n

My latest book is based on 4 decades of\u00a0experience\u00a0in all phases of the investment business—from credit analysis to M&A, to investment management. It was written with the practitioner in mind—not the academic.<\/p>\n

It is the only investment text ever written\u00a0which\u00a0accurately\u00a0addresses and provides very detailed models and examples of my adjusted free cash flow and cost of capital.<\/p>\n

By\u00a0judiciously\u00a0applying the principles in the text, you will see why I became positive on stocks in March 2009 and bearish a year later—but it is not a book on market timing! It is one based on\u00a0fundamentally\u00a0sound\u00a0principles\u00a0of free cash flow, cash-based\u00a0return\u00a0on invested capital, and cost of capital. These are the 3 building clocks of security analysis and valuation.<\/p>\n

Given the popularity of this site I hope you will decide to continue your investment education. \u00a0So, get ahead of the universities and colleges that will be adopting the book. You could be first.<\/p>\n

Disclosure: No positions<\/p>\n

Kenneth S. Hackel<\/a>, CFA
\nPresident
\nCT Capital LLC<\/a><\/p>\n

Subscribe to CreditTrends.com by Email<\/a><\/p>\n

Share on Facebook<\/a><\/p>

\"Post

If you wonder why HPQ is now trading, despite the huge buyback announcement, which, when combined with its remainning $4.1 authorization, totals 16% of its outstanding shares, back to where it was on Friday, you need the book to your right: Security Valuation and Risk Analysis: \u00a0 Share on Facebook Tweet This Post<\/p>\n

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