Code: 53423759
Most investors confuse price movement with value creation. The distinction determines whether capital compounds or erodes over time. Value investing operates on the premise that markets misprice assets predictably, and that discip ... more
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Book synopsis
Most investors confuse price movement with value creation. The distinction determines whether capital compounds or erodes over time. Value investing operates on the premise that markets misprice assets predictably, and that disciplined analysis of financial statements can identify these gaps before they close.This book examines the structural principles behind value-based capital allocation: how to read balance sheets for hidden liabilities, how to separate operating performance from accounting presentation, and how to construct positions that survive volatility without forced liquidation. It addresses the psychological dimension of speculation-why short-term price signals override long-term fundamentals, and how emotional reactivity introduces systematic error into portfolio decisions.The framework applies across public equities, private holdings, and capital-intensive projects. For investors operating in environments where information asymmetry persists, the ability to assess intrinsic worth independent of market sentiment remains a durable edge.
Book details
43.77 €
EnglishCollection points Bratislava a 13253 dalších
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