The Theory of Investment Value Book Summary

In 'The Theory of Investment Value', John Burr Williams presents a groundbreaking framework for evaluating the intrinsic value of investments. He challenges conventional practices, offering a fresh perspective that emphasizes future cash flows over historical prices. This seminal work lays the foundation for modern financial analysis and investment strategies, pre-dating many contemporary valuation methods. With compelling arguments and mathematical rigor, Williams redefines how investors perceive value in the stock market. Dive into this influential text to uncover the principles that continue to shape investment decision-making today.

By John Burr Williams

Published: 1997

""Investment value is determined by the cash flows that an investment can generate over its economic life, not by the whims of the market or the noise of speculation.""

Book Review of The Theory of Investment Value

Written as a Ph. D. thesis at Harvard in 1937.-Publisher's website.

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"Investment value is determined by the cash flows that an investment can generate over its economic life, not by the whims of the market or the noise of speculation."

The Theory of Investment Value

By John Burr Williams