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The Theory of Investment Value by John Burr Williams

The Theory of Investment Value John Burr Williams ebook
Page: 650
Publisher: Beta Nu Publishing
ISBN: 9781607964704
Format: pdf

I've read The Intelligent Investor and The Theory of Investment Value and Common Stocks and Uncommon Profits. Mainstream economists have developed theories in which financial markets are “efficient,” pricing financial assets according to fundamental values. Rather than having intrinsic value it matters more for its extrinsic qualities as the means to certain ends (The same statements can be made for taking art as edification, art as inspiration, art as provocation, etc.). An axiom of financial theory is that an investment's value is the sum of its future cash flows discounted to the present. The assessment of enterprises' investment value is the most crucial factor involves venture capital investment. That would not be forthcoming until 1940. Indeed, if finance is efficient in the manner described by Of course, Glass-Steagall did segregate a portion of the financial sector from the payments system: investment banks were allowed freer reign on the asset side of their balance sheets, but they could not issue deposits. The value is usually calculated using discounted cash flow valuation (DCF). Yes, of course, the quality of what you are attending to matters, and, certainly, great “artworks” are exquisitely designed to reward an individual's investment of the verbs of art (humans haven't designed anything more rewarding than master artworks), but the . Williams's dissertation, entitled “The Theory of Investment Value,” did not immediately earn him his doctorate.