Security Analysis and Business Valuation on Wall Street: A Comprehensive Guide to Today's Valuation Methods, + Companion Web Site, 2nd EditionISBN: 978-0-470-27734-8
Hardcover
432 pages
May 2010
This is a Print-on-Demand title. It will be printed specifically to fill your order. Please allow an additional 10-15 days delivery time. The book is not returnable.
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"A cross between a textbook for analysts-in-training and a
tell-all expose of the analyst profession."
—Business Week
"Hooke has written a step-by-step explanation of how to analyze
stock. He takes the reader from the basic yardsticks used to judge
companies -- intrinsic value, relative value and acquisition value
- and goes all the way to analyzing stocks in emerging overseas
markets."
—ABC News.com
Advance Praise for the Second Edition
"A welcome successor to Graham and Dodd's Security
Analysis."
—Barron's Advance Praise for the Second
Edition
"Jeff Hooke has written an excellent overview of the process of
valuing individual equities and entire companies. It is useful for
a variety of readers, ranging from active investors, to financial
advisors, to principals of companies contemplating a sale or public
offering. It has a tremendous amount of material between the covers
of a single volume."
—William H. Heyman, Vice Chairman and Chief Investment
Officer, The Travelers Companies, Inc.; and former director,
Division of Market Regulation, U.S. Securities and Exchange
Commission
"The Second Edition is released at a propitious time. As we
recover from the worst financial crisis in recent memory, the need
for thorough analysis is critical. Hooke's primer is readable and
easily understood, even by those without CFA credentials. It should
help practitioners avoid the mistakes of casual decision
making."
—Dennis Flannery, retired executive vice president,
Inter-American Development Bank
"This book is more than a textbook for anyone who wants to make
a living as a valuation expert or securities analyst —it is a
living, breathing, 'how to' guide on the latest methods, with
plenty of real-life examples that hit home."
—Ron Everett, Managing Partner, Certified Business Appraiser,
Business Valuation Center
"The financial crises of the past decade highlight the
imperative for disciplined valuation. Hooke provides a broad array
of concepts and tools to achieve this. He goes beyond a purely
formulaic approach to focus on idiosyncratic characteristics in
both public and private equity contexts."
—Alex Triantis, Chair, Finance Department, Robert H. Smith
School of Business, University of Maryland
"This book represents an impressive effort to offer
comprehensive coverage of business valuation. It combines the deep
insight of an insider with the rigor of top academics. Jeff is not
shy about giving his opinion, which makes the reading experience
unique and exciting."
—Ludovic Phalippou, Professor of Finance, University of
Amsterdam
"This is an invaluable reference for the M&A professional.
Hooke provides a view of the forest, in giving the rationale for
the methods in use and how they compare with each other. The text
is punctuated by his own wry commentary and frequent
examples."
—Gary Nelson, Chairman, Sigma Federal, former vice chairman
of SRA International
"This book is a highly useful resource for any existing or
soon-to-be professional in the financial analysis field. It is a
must-read presentation of the valuation methodologies utilized in
the private equity business."
—Matt Newton, Partner, Columbia Capital
"Hooke's book provides an insightful approach to both financial
analysis and business valuation. It should be required reading for
anyone involved in the securities industry, from money managers to
investment bankers."
—George Konomos, Senior Advisor, Latigo Partners
“The new edition of Jeffrey Hooke’s (Hooke Associates and FOCUS, LLC) Security Analysis and Business Valuation on Wall Street contains fresh insights and updates on the fundamentals of security analysis and business valuation, new case study examples, and four new chapters.
Among other reasons, Hooke points out why experts should read
this practitioner-oriented book: "Two market crashes -- and the
attendant fallout -- suggest that business appraisers consider the
use of higher discount rates, the need for recessions in many
forecasts, and the inclusion of political risk in certain US
business evaluations…The validity of each methodology -- be
it guideline companies or discounted cash flow, to give two
examples -- has to be cross checked against its counterparts now
more than ever, or the appraiser can get false
readings.”
— Business Valuation Review, May 5, 2010