NYU Prof, Damodaran, on Price vs. Value: Reading Earnings Reports

NYU finance professor Aswath Damodaran writes in the blog Musings on Markets about “the pricing and value game and how they play out, especially around earnings season.” Contrasting the two concepts, Damodaran says that value “comes from a company’s fundamentals, i.e., its capacity to generate and grow cash flows,” while pricing “is a market process” that results from supply and demand and is “a function of market mood/sentiment and incremental information about the company.” Accordingly,… Read More

Looking Back at Benjamin Graham’s Lectures – 1946 & 1947

Diehard value investors will appreciate the transcripts of lectures featured in “The Rediscovered Benjamin Graham: Selected Writings of the Wall Street Legend,” by Janet Lowe. Posted on John Wiley & Sons’ web site, the “lectures are from the series entitled Current Problems in Security Analysis that Mr. Graham presented at the New York Institute of Finance from September 1946 to February 1947.” A special thanks to Todd Sullivan (find him at http://valueplays.blogspot.com) for posting these… Read More