Free Cash Flow: Seeing Through the Accounting Fog Machine to Find Great Stocks
"Free Cash Flow: Seeing Through the Accounting Fog Machine to Find Great Stocks helps keep the investor focused on what truly matters to value creation--Free Cash Flow." --Charles W. Mulford, Invesco Chair and Professor of Accounting, College of Management, Georgia Institute of Technology, cofounder of Cash Flow Analytics, LLC"GAAP earnings are more theology than science. They are a series of assumptions that lead us to what we 'believe' earnings to be. As George Christy thoroughly explains, Free Cash Flow definitively reflects the true value of a company. After more than a decade of roving market bubbles, it is refreshing to read this work of fundamental analysis pointing to successful investing. I read it as a refresher course to my CFA certification." --Boniface A. Zaino, CFA, Managing Director, Royce & Associates, LLC"George Christy has it right--to value a business you must follow the cash. What else counts?" --Bruce Berkowitz, President, Fairholme Funds, Inc."This book provides the reader with the concepts, the context, and the tools necessary to invest successfully in a global market that has become increasingly challenging for all investors, both institutional and individual. I applaud the author's efforts and recommend this book to all investors seeking shareholder value creation."  --From the Preface by William W. Priest, Chief Executive Officer, Epoch Investment Partners, coauthor of Free Cash Flow and Shareholder Yield: New Priorities for the Global Investor“Back  testing – based on up to 25 stocks from September, 2004 to June, 2012,  using the Morningstar CPMS database, showed Mr. Christy's criteria  significantly outperformed the S&P/TSX composite index (14.1 per  cent for the portfolio versus 7.5 per cent for the S&P/TSX).”-Toronto Globe and Mail;Robert McWhirter, President, Selective Asset  Management, Inc.“Christy's  career has given him an insider's perspective of how CEOs and CFOs  manage public disclosures and relations with the street. This book is an  insider's perspective on cash-flow investing, which is very different  from that of the typical money manager.”Asheville Citizen-Times; David  Coffee, Professor of Accounting, College of Business, Western Carolina  University