In the high-level yet down-to-earth style for which McGraw-Hill's Streetsmart Series is known, STREETSMART GUIDE TO VALUING A STOCK covers everything from basic stock valuation to more advanced valuation models and techniques. Its nuts-and-bolts, nontheoretical methods will be invaluable in helping you locate and analyze undervalued stocks. "The book outlines the fundamentals of making an investment decision in a stock based on a reasoned evaluation of that stock's worth. The writing is direct, logical, and remarkably interesting..." - William R. McLucas, Partner, Wilmer, Cutler & Pickering, Former Director, Division of Enforcement U.S. Securities & Exchange Commission. "The authors have taken one of today's rarest commodities—good common sense—and applied it to one of today's most vexing challenges—valuing a stock. This book is a valuable tool for anyone participating in the stock market." - Warren A. Stephens President & CEO, Stephens, Inc. "Today's stock market is more complex and volatile than ever. A stock's price does not necessarily represent the intrinsic value of the company. I believe that we all need the safety net of cash flow valuation to make prudent investment decisions. Many Wall Street analysts would benefit from reading STREETSMART GUIDE TO VALUING A STOCK, and I will recommend it to all of my institutional clients." - M. Clara Tucci, Managing Director—International Equity Sales, ING Baring Furman Seltz. "This is a terrific book for investors! In a witty, fresh style the authors explain how to value a company's stock by using an easy-to-understand, 4-step approach. They explain what numbers are required, where to get them quickly, and how to use them." - Charles C. Snow, Ph.D., International Education Program Lecturer on Strategic Management, Mellon Bank Professor of Business Administration, The Pennsylvania State University.
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Book Description
Editorial Reviews
From the Back Cover
Know the true value of every stock before you invest! "The book outlines the fundamentals of making an investment decision in a stock based on a reasoned evaluation of that stock's worth. The writing is direct, logical, and remarkably interesting..."--William R. McLucas, Partner, Wilmer, Cutler & Pickering Former Director, Division of Enforcement, U.S. Securities & Exchange Commission.
"The authors have taken one of today's rarest commodities--good common sense--and applied it to one of today's most vexing challenges--valuing a stock. This book is a valuable tool for anyone participating in the stock market." --Warren A. Stephens, President & CEO, Stephens, Inc.
"Today's stock market is more complex and volatile than ever. A stock's price does not necessarily represent the intrinsic value of the company. I believe that we all need the safety net of cash flow valuation to make prudent investment decisions. Many Wall Street analysts would benefit from reading Streetsmart Guide to Valuing a Stock, and I will recommend it to all of my institutional clients." --M. Clara Tucci, Managing Director--International Equity Sales, ING Baring Furman Seltz.
"This is a terrific book for investors! In a witty, fresh style the authors explain how to value a company's stock by using an easy-to-understand, 4-step approach. They explain what numbers are required, where to get them quickly, and how to use them."--Charles C. Snow, Ph.D., International Education Program Lecturer on Strategic Management, Mellon Bank Professor of Business Administration, The Pennsylvania State University.
About the Author
Gary Gray, Ph.D., Visiting Professor of Finance at The Pennsylvania State University, consults regularly with investment and commercial banks and was a Managing Director of a major Wall Street investment bank. Dr. Gray has contributed articles to professional periodicals including Harvard Business Review and Municipal Finance Journal. He is co-author, along with Dr. Patrick J. Cusatis, of Municipal Derivative Securities: Uses and Valuations. Patrick J. Cusatis, Ph.D., is Visiting Associate Professor of Finance at The Pennsylvania State University and a Director at First Union National Bank. Dr. Cusatis has contributed articles to Journal of Financial Economics, Journal of Applied Corporate Finance, and Municipal Finance Journal. He is co-author of Municipal Derivative Securities: Uses and Valuations. J. Randall Woolridge, Ph.D., is the Goldman, Sachs, and Co. and Frank P. Smeal Endowed University Professor of Finance at The Pennsylvania State University. Dr. Woolridge has contributed articles to Journal of Finance, Journal of Financial Economics, and other industry publications, and has appeared on CNN's Money Line and CNBC's Business Today.
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Most Helpful Customer Reviews
13 of 13 people found the following review helpful:
5.0 out of 5 stars
A serious approach to putting a dollar figure on the value,
By
This review is from: Streetsmart Guide to Valuing A Stock: The Savvy Investor's Key to Beating the Market (Hardcover)
The methodology doesn't cover some industries (financial, insurance etc) but for the majority of companies this will come up with an intrisic value (not book value) of the future earnings discounted over time for inflation, risk etc. I made a spreadsheet that does the methodolgy the book teaches, but the author has one for sale. I wish I had the spreadsheet before reading it, as I had to reread sections to gain a good understanding after I had the spreadsheet. It allows you to follow along his examples and "see" the numbers and forecasts effect the valution. I will email my version to any interested parties. No instructions, bare bones, but works. You wont understand it without the book.
11 of 12 people found the following review helpful:
4.0 out of 5 stars
Insightful!,
This review is from: Streetsmart Guide to Valuing A Stock: The Savvy Investor's Key to Beating the Market (Hardcover)
Everything you need to know about how to value a stock is inside this book - somewhere. Finding it however, can be a problem, as it sometimes seems that the editors used the random dart theory of selection in putting together the chapters. For example, in order to understand the concepts presented in Chapter two, you need information that is contained in Chapters three and five. Once you figure out how to navigate it, though, this book is a valuable resource and a powerful educational tool for investors from neophyte to intermediate. It's encyclopedic in its scope, and the pages in the included glossary are sure to become dog-eared from use. We [...] recommend this book to investors of all levels. Beginners will learn critical concepts and terms, while more experienced investors will come to rely on this book as a trusted reference companion.
7 of 7 people found the following review helpful:
5.0 out of 5 stars
Outstanding in Every Respect,
By A Customer
This review is from: Streetsmart Guide to Valuing A Stock: The Savvy Investor's Key to Beating the Market (Hardcover)
One of the best investment valuation books ever written. This book is clear enough for the novice, but contains enough depth to please corporate finance and valuation afficionados who are fans of Copeland, Rappaport, Stewart and Damodaran. The software on the authors' website, Valuepro, is every bit as good as the book and is a must for anyone interested in trying his hand at valuation. The authors also go out of their way to support their product with an excellent message board on the website. This is one of my favorite books.
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Front Cover | Front Flap | Table of Contents | First Pages | Index | Back Flap | Back Cover | Surprise Me!
Inside This Book
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First Sentence:
With today's stock market on a bungee cord, you could become just another gawking spectator-stunned by a 544-point plummet of the Dow Jones Industrial Average on one day (October 27, 1997) and thrilled by a 337-point bounce on the next (October 28, 1997). Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
forma screen, general input screen, intrinsic stock value, corporate residual value, excess return period, other senior claims, total corporate value, net operating profit margin, excess marketable securities, preferred stock yield, baseline valuation, additional free cash flow, capital screen, incremental working capital, share intrinsic value, equity risk premium, bond yield spread, revenue growth rate, new business cycle, target stock price, yearly inputs, discounted free cash flow, valuation inputs, stock attributes, earnings release Key Phrases - Capitalized Phrases (CAPs): (learn more)
Treasury Bond, Wall Street, Intel Corporation, Consolidated Edison, New York, Valuation Date, Less Preferred Stock, Less Other Senior Claims, America Online, Annual Dividend Per Share, Net Invest, Company Specific Beta, Market Guide, Business Week, The Five Chinese Brothers, United States, First Call, Assets Current, Fed Funds, Thousands of Dollars, Asian Contagion, John Wiley, Rate Dep, Rate Increm, Aswath Damodaran New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Front Flap | Table of Contents | First Pages | Index | Back Flap | Back Cover | Surprise Me!
With today's stock market on a bungee cord, you could become just another gawking spectator-stunned by a 544-point plummet of the Dow Jones Industrial Average on one day (October 27, 1997) and thrilled by a 337-point bounce on the next (October 28, 1997). Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
forma screen, general input screen, intrinsic stock value, corporate residual value, excess return period, other senior claims, total corporate value, net operating profit margin, excess marketable securities, preferred stock yield, baseline valuation, additional free cash flow, capital screen, incremental working capital, share intrinsic value, equity risk premium, bond yield spread, revenue growth rate, new business cycle, target stock price, yearly inputs, discounted free cash flow, valuation inputs, stock attributes, earnings release Key Phrases - Capitalized Phrases (CAPs): (learn more)
Treasury Bond, Wall Street, Intel Corporation, Consolidated Edison, New York, Valuation Date, Less Preferred Stock, Less Other Senior Claims, America Online, Annual Dividend Per Share, Net Invest, Company Specific Beta, Market Guide, Business Week, The Five Chinese Brothers, United States, First Call, Assets Current, Fed Funds, Thousands of Dollars, Asian Contagion, John Wiley, Rate Dep, Rate Increm, Aswath Damodaran New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Front Flap | Table of Contents | First Pages | Index | Back Flap | Back Cover | Surprise Me!
Citations (learn more)
This book cites 10
books:
See all 10 books this book cites
9
books
cite this book:
See all 9 books citing this book
- A Random Walk Down Wall Street: Including a Life-Cycle Guide to Personal Investing by Burton G. Malkiel on page 17, and page 36
- A Random Walk Down Wall Street, Fourth Edition 1985 by Burton G. Malkiel on page 17, and page 36
- Stocks for the Long Run : The Definitive Guide to Financial Market Returns and Long-Term Investment Strategies by Jeremy J. Siegel on page 21, and page 36
- Municipal Derivative Securities: Uses and Valuation by Gary Gray in Back Matter (1), and Back Matter (2)
- The On-Line Investor: How to Find the Best Stocks Using Your Computer by Ted Allrich on page 120
See all 10 books this book cites
- The Streetsmart Guide to Short Selling: Techniques the Pros Use to Profit in Any Market by Tom Taulli in Front Matter
- The Man Who Beats the S&P: Investing with Bill Miller by Janet Lowe in Back Matter
- Hedging Instruments and Risk Management: How to Use Derivatives to Control Financial Risk in Any Market (McGraw-Hill Library of Investment and Finance) by Patrick Cusatis on page 271
- Applied Equity Analysis: Stock Valuation Techniques for Wall Street Professionals by James English on page 304
- How to Understand the Financial Pages: A Guide to Money and the Jargon by Alexander Davidson in Back Matter
See all 9 books citing this book
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