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This book was first printed in 1938, having been written as a Ph.D. thesis at Harvard in 1937. Our good friend, Peter Bernstein mentioned this book several times in his excellent Capital Ideas which was published in 1992. Why the book is interesting today is that it still is important and the most authoritative work on how to value financial assets. As Peter says: 'Williams combined original theoretical concepts with enlightening and entertaining commentary based on his own experiences in the roughandtumble world of investment.' Williams' discovery was to project an estimate that offers intrinsic value and it is called the 'Dividend Discount Model' which is still used today by professional investors on the institutional side of markets. Appendix, Tables
⚠️ WARNING (California Proposition 65):
This product may contain chemicals known to the State of California to cause cancer,
birth defects, or other reproductive harm.
Q: What is 'The Theory of Investment Value' about?A: This book explores the valuation of financial assets, focusing on the Dividend Discount Model, which estimates intrinsic value. It combines theoretical concepts with practical insights from the author's experiences.
Q: Who is the author of this book?A: The author of 'The Theory of Investment Value' is John Burr Williams, who originally wrote it as a Ph.D. thesis at Harvard.
Q: When was 'The Theory of Investment Value' first published?A: The book was first printed in 1938.
Q: What is the significance of the Dividend Discount Model?A: The Dividend Discount Model is a method for estimating the intrinsic value of an investment based on its expected future dividends, and it remains widely used by professional investors today.
Q: What edition of the book is available?A: The available edition is a reprint published on June 1, 1997.
Q: What condition is the book in?A: The book is classified as a 'Used Book in Good Condition', indicating it has been previously owned but is still in a satisfactory state.
Q: How many pages does 'The Theory of Investment Value' have?A: The book contains a total of 525 pages.
Q: What type of binding does this book have?A: This book is available in paperback binding.
Q: Is there any supplementary material included in the book?A: Yes, the book includes an appendix and various tables that support the content.
Q: Why is this book still relevant today?A: The concepts introduced by Williams, particularly the Dividend Discount Model, continue to be fundamental in understanding investment valuation, making the book a valuable resource even decades after its initial release.
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