The business performance creates the value - the price creates the OPPORTUNITY.
No-one likes to pay too much for something. We all like to think that what we buy is ' good value'. It's not different when we purchase a share in a company listed on the stock market. In “The Concise Guide to Value Investing”, Brian McNiven reveals how to calculate the true value of a company to find out whether you are paying a fair price. This fascinating book explores: • value investing versus speculation • the difference between price and value • variable values of a dollar of earnings • accounting misrepresentation • the characteristics of a wonderful business • the StockVal® valuation formula. Two of the world's most successful investors, Warren Buffett and Charlie Munger, are self-confessed value investors. McNiven often draws on their wisdom to support his approach to value investing, which he defines as buying a share at a price lower than its calculated value. Only investors who have the ability to calculate value can call themselves 'value investors'.
