{"product_id":"quantitative-value-9781118328071","title":"Quantitative Value","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003e\u003cb\u003eA must-read book on the quantitative value investment strategy\u003c\/b\u003e  \u003cp\u003eWarren Buffett and Ed Thorp represent two spectrums of investing: one value driven, one quantitative. Where they align is in their belief that the market is beatable. This book seeks to take the best aspects of value investing and quantitative investing as disciplines and apply them to a completely unique approach to stock selection. Such an approach has several advantages over pure value or pure quantitative investing. This new investing strategy framed by the book is known as quantitative value, a superior, market-beating method to investing in stocks.\u003c\/p\u003e \u003cp\u003e\u003ci\u003eQuantitative Value\u003c\/i\u003e provides practical insights into an investment strategy that links the fundamental value investing philosophy of Warren Buffett with the quantitative value approach of Ed Thorp. It skillfully combines the best of Buffett and Ed Thorpweaving their investment philosophies into a winning, market-beating investment strategy.\u003c\/p\u003e \u003cul\u003e \u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003e\u003cp\u003ePreface xi\u003c\/p\u003e \u003cp\u003eAcknowledgments xiii\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART ONE The Foundation of Quantitative Value 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 1 The Paradox of Dumb Money 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eValue Strategies Beat the Market 9\u003c\/p\u003e \u003cp\u003eHow Quantitative Investing Protects against Behavioral Errors 23\u003c\/p\u003e \u003cp\u003eThe Power of Quantitative Value Investing 30\u003c\/p\u003e \u003cp\u003eNotes 32\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 2 A Blueprint to a Better Quantitative Value Strategy 35\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGreenblatt’s Magic Formula 36\u003c\/p\u003e \u003cp\u003eIt’s All Academic: Improving Quality and Price 45\u003c\/p\u003e \u003cp\u003eStrategy Implementation: Investors Behaving Badly 54\u003c\/p\u003e \u003cp\u003eNotes 59\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART TWO Margin of Safety—How to Avoid a Permanent Loss of Capital 61\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 3 Hornswoggled! Eliminating Earnings Manipulators and Outright Frauds 63\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAccruals and the Art of Earnings Manipulation 64\u003c\/p\u003e \u003cp\u003ePredicting PROBMs 72\u003c\/p\u003e \u003cp\u003eNotes 79\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 4 Measuring the Risk of Financial Distress: How to Avoid the Sick Men of the Stock Market 81\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Brief History of Bankruptcy Prediction 83\u003c\/p\u003e \u003cp\u003eImproving Bankruptcy Prediction 85\u003c\/p\u003e \u003cp\u003eHow We Calculate the Risk of Financial Distress 86\u003c\/p\u003e \u003cp\u003eScrubbing the Universe 89\u003c\/p\u003e \u003cp\u003eNotes 91\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART THREE Quality—How to Find a Wonderful Business 93\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 5 Franchises—The Archetype of High Quality 95\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Chairman’s Secret Recipe 96\u003c\/p\u003e \u003cp\u003eHow to Find a Franchise 99\u003c\/p\u003e \u003cp\u003eNotes 112\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 6 Financial Strength: Foundations Built on Rock 113\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Piotroski Fundamentals Score (F_SCORE) 114\u003c\/p\u003e \u003cp\u003eOur Financial Strength Score (FS_SCORE) 119\u003c\/p\u003e \u003cp\u003eComparing the Performance of Piotroski’s F_SCORE and Our\u003c\/p\u003e \u003cp\u003eFS_SCORE 122\u003c\/p\u003e \u003cp\u003eCase Study: Lubrizol Corporation 123\u003c\/p\u003e \u003cp\u003eNotes 126\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART FOUR The Secret to Finding Bargain Prices 127\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 7 Price Ratios: A Horse Race 129\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Horses in the Race 130\u003c\/p\u003e \u003cp\u003eRules of the Race 133\u003c\/p\u003e \u003cp\u003eThe Race Call 134\u003c\/p\u003e \u003cp\u003eA Price Ratio for All Seasons 141\u003c\/p\u003e \u003cp\u003eThe Offi cial Winner 142\u003c\/p\u003e \u003cp\u003eNotes 143\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 8 Alternative Price Measures—Normalized Earning Power and Composite Ratios 145\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eNormalized Earning Power 147\u003c\/p\u003e \u003cp\u003eCompound Price Ratios: Is the Whole Greater than\u003c\/p\u003e \u003cp\u003ethe Sum of Its Parts? 150\u003c\/p\u003e \u003cp\u003eNotes 163\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART FIVE Corroborative Signals 165\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 9 Blue Horseshoe Loves Anacott Steel: Follow the Signals from the Smart Money 167\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStock Buybacks, Issuance, and Announcements 169\u003c\/p\u003e \u003cp\u003eInsider Traders Beat the Market 173\u003c\/p\u003e \u003cp\u003eActivism and Cloning 176\u003c\/p\u003e \u003cp\u003eShort Money Is Smart Money 179\u003c\/p\u003e \u003cp\u003eNotes 182\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART SIX Building and Testing the Model 185\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 10 Bangladeshi Butter Production Predicts the S\u0026amp;P 500 Close 187\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSustainable Alpha: A Framework for Assessing Past Results 189\u003c\/p\u003e \u003cp\u003eWhat’s the Big Idea? 191\u003c\/p\u003e \u003cp\u003eRigorously Test the Big Idea 196\u003c\/p\u003e \u003cp\u003eThe Parameters of the Universe 206\u003c\/p\u003e \u003cp\u003eNotes 208\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 11 Problems with the Magic Formula 211\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGlamour Is Always a Bad Bet 216\u003c\/p\u003e \u003cp\u003eImproving the Structure of a Quantitative Value Strategy 218\u003c\/p\u003e \u003cp\u003eOur Final Quantitative Value Checklist 222\u003c\/p\u003e \u003cp\u003eNotes 228\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 12 Quantitative Value Beats the Market 229\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRisk and Return 231\u003c\/p\u003e \u003cp\u003eRobustness 239\u003c\/p\u003e \u003cp\u003eA Peek Inside the Black Box 249\u003c\/p\u003e \u003cp\u003eMan versus Machine 257\u003c\/p\u003e \u003cp\u003eBeating the Market with Quantitative Value 262\u003c\/p\u003e \u003cp\u003eNotes 264\u003c\/p\u003e \u003cp\u003eAppendix: Analysis Legend 265\u003c\/p\u003e \u003cp\u003eAbout the Authors 267\u003c\/p\u003e \u003cp\u003eAbout the Companion Website 269\u003c\/p\u003e \u003cp\u003eIndex 271\u003c\/p\u003e\n\u003c\/ul\u003e","brand":"John Wiley \u0026 Sons Inc","offers":[{"title":"Default Title","offer_id":49406851416407,"sku":"9781118328071","price":48.75,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0817\/1739\/5799\/files\/9781118328071.jpg?v=1730497340","url":"https:\/\/bookcurl.com\/products\/quantitative-value-9781118328071","provider":"Book Curl","version":"1.0","type":"link"}