Description
Book Synopsis"The Aggressive Conservative Investor will never go out of date. Regulation, disclosure, and other things may change, but the general approach and mindset to successful investing are timeless. Read this book and you will learn the rudiments of 'safe and cheap' investing. An essential read for every amateur and professional investor.
Table of ContentsForeword xiii
Preface xvii
Section one
The Approach
1 / An Overview 3
2 / The Financial-Integrity Approach to Equity Investing 17
Section Two
The Uses and Limitations of Fundamental Analysis and Technical Analysis
3 / The Significance of Market Performance 39
4 / Modern Capital Theory 52
5 / Risk and Uncertainty 66
Section Three
Disclosures and Information
6 / Following the Paper Trail 81
7 / Financial Accounting 97
8 / Generally Accepted Accounting Principles 123
Section Four
The Financial and Investment Environment
9 / Tax Shelter (TS), Other People’s Money (OPM), Accounting Fudge Factor (AFF) and Something off the Top (SOTT) 145
10 / Securities Analysis and Securities Markets 160
11 / Finance and Business 176
Section Five
Tools of Securities Analysis
12 / Net Asset Values 189
13 / Earnings 209
14 / Roles of Cash Dividends in Securities Analysis and Portfolio Management 220
15 / Shareholder Distributions, Primarily from the Company Point of View 236
16 / Losses and Loss Companies 248
17 / A Short Primer on Asset-Conversion Investing: Prearbitrage and Postarbitrage 255
Section Six
Appendixes—Case Studies
Introduction to Appendixes I and II 269
I / The Use of Creative Finance to Benefit
Controlling Stockholders—Schaefer Corporation 273
II / Creative Finance Applied to a Corporate Takeover— Leasco Data Processing Company 319
III / A Guide to SEC Corporate Filings— What They Are/What They Tell You (Reprinted Courtesy of Disclosure Incorporated) 341
IV / Examples of Variables Using the Financial-Integrity Approach—Pro and Con 358
index 411
