Valuation is the cornerstone of investment analysis, and a comprehensive understanding and correct application of valuation methods is the key to long-term successful investment. Proper application of valuation techniques can help investors distinguish between price and value. The key difference between the two comes from the flow of excess returns. Written by two valuation experts from the CFA Institute, this book brings together the insights and expertise of savvy and successful investors over the past 50 years. From Benjamin Graham, the "father of value investing", to Aswath Damodaran, you can learn the investment valuation methods recognized by these investment masters, including income and cash flow analysis. In the process of studying this book, you will feel the evolution of valuation ideas and understand the future innovation and development context of this field.
