Applied Value Investing takes the same time-proven approach Graham introduced with David Dodd in their 1934 masterpiece, Security Analysis, and extends it in a variety of unique and practical ways—including mergers and acquisitions, alternative investments, and financial strategy.

This in-depth guide shows financially sophisticated readers how to use value investing in a macroinvesting framework and how to apply it to the emerging area of super catastrophe valuation. It illustrates how to put value investing to use with case studies on:

1Eddie Lampert’s acquisition of Sears

2Warren Buffett’s acquisitions of GEICO and General Reinsurance Corporation

3The recent “new economy” boom and bust, and its aftermath

4The underwriting of the Pepsi Play for a Billion sweepstakes

Applied Value Investing also demonstrates how to incorporate the cornerstones of valuation into an integrated business framework that can be used to assess and manage a franchise (or a firm operating with a sustainable competitive advantage).

In addition to its cutting-edge applications of value investing principles, Applied Value Investing sets itself apart by drawing on material published in leading academic journals to form the foundation of its presentation. However, value investing is inherently practical, and this comprehensive resource provides helpful guidance for successfully implementing value investing strategies in the real world.

To profit like the masters you have to think like them. Applied Value Investing can open new doors to value creating opportunities

[美]小約瑟夫·卡蘭德羅（Joseph Calandro，Jr.）

★普華永道保險谘詢部總經理，擁有超過25年的投資業研究經驗。

★福特漢姆大學加貝利全球投資研究中心研究員。曾任康涅狄格大學客座教授，負責教授MBA專業的價值投資和風險管理等課程，並在IBM全球服務部擔任金融管理顧問一職。

★文章多次發錶在各類投 資業權威期刊上，如《另類投資雜誌》《戰略與領導力》《風險管理與保險評論》以及《貿易優勢評估》等。他的論文曾在美國、英國和加拿大舉辦的各種大型學術會議中交流。