Deep value
Subtitle: why activist investors and other contrarians battle for control of "losing" corporations
By: Tobias E. Carlisle
Series: Wiley finance series; Wiley finance series
Publisher: Wiley
Published: 2014
Language: eng
Number of pages: 222
ISBN-13: 9781118747964
Subjects: Stockholders; Valuation; Investments; Corporate governance
Description: "The economic climate is ripe for another golden age of shareholder activismDeep Value: How Shareholder Activist Hedge Funds Battle for Control of The World's Leading Corporations is a must-read exploration of deep value investment strategy, describing the evolution of the theories of valuation and shareholder activism from Graham to Icahn and beyond. The book combines engaging anecdotes with industry research to illustrate the principles and methods of this complex strategy, and explains the reasoning behind seemingly incomprehensible activist maneuvers. Written by an active value investor, Deep Value provides an insider's perspective on shareholder activist strategies in a format accessible to both professional investors and laypeople.The Deep Value investment philosophy as described by Graham initially identified targets by their discount to liquidation value. This approach was extremely effective, but those opportunities are few and far between in the modern market, forcing activists to adapt. Current activists assess value from a much broader palate, and exploit a much wider range of tools to achieve their goals. Deep Value enumerates and expands upon the resources and strategies available to value investors today, and describes how the economic climate is allowing value investing to re-emerge. Topics include: Target identification, and determining the most advantageous ends Strategies and tactics of effective activism. Unseating management and fomenting change Eyeing conditions for the next M&A boom. Activist hedge funds have been quiet since the early 2000s, but economic conditions, shareholder sentiment, and available opportunities are creating a fertile environment for another golden age of activism. Deep Value: How Shareholder Activist Hedge Funds Battle for Control of The World's Leading Corporations provides the in-depth information investors need to get up to speed before getting left behind"--

"This book seeks to describe the evolution of the theories of valuation and shareholder activism from Graham to Icahn and beyond. It is intended to be a practical guide that also canvases the academic and industry research and provides important details alongside engaging anecdotes. It will discuss how activists identify targets, and the strategies and tactics employed to unseat management or foment change"--
Notes: Machine generated contents note:  Preface Acknowledgments About the Author Chapter 1: The Icahn Manifesto Chapter 2: Contrarians At the Gate Chapter 3: Warren Buffett: Liquidator to Operator Chapter 4: The Acquirer's Multiple Chapter 5: A Clockwork Market Chapter 6: Trading in Glamour: The Conglomerate Era Chapter 7: Catch a Falling Knife Chapter 8: The Art of the Corporate Raid Chapter 9: How Hannibal Profits From His Victories Chapter 10: Applied Deep Value Index .

Includes bibliographical references and index.