Customer Reviews

Security Valuation and Risk Analysis: Assessing Value in Investment Decision-Making

5 star:		(4)
4 star:		(0)
3 star:		(0)
2 star:		(1)
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This book is brillliant. It brings to light a far superior method of risk analysis than either I learned in grad school, or have used in my research reports. I highly recommend reading this cover to cover.

Every credit analyst at our bank is reading this book--I very highly recommend it for both equity and credit investors

This book is great for anybody who cares about cash flow. It goes into detail how investors should think about risk and the proper discount method. Anybody who wants to know about how to value a security needs to buy this book.

A great book grounded in reality. It provides a pragmatic way to analyze securities while giving a framework for subjective analysis.

I had just received this book about 2 weeks ago. And of course I haven't finished reading the whole book yet. I quickly looked at the index and search for the keyword "convertible debt (CB) " . There is only a rough discussion of CB. I am disappointed that at this price tag the author didn't include much discussion of CB . And CB could be a serious credit risk for a company.

Last year in Hong Kong a company got bust because it couldn't pay back the debt holders of those CB when it expired. That company had a shortage of cash flow. The debt holders at that time didn't want to convert them to stocks because the stock's price was BELOW the conversion price. So when one wants to buy stocks of any company one should find out if that company has any outstanding debts, including convertible debts.

Other than that, I think this book is quite good.