The Aggressive Conservative Investor by Whitman, Martin J. -- Read -- Imperial Library of Trantor

Index

INTRODUCING WILEY INVESTMENT CLASSICS Title Page Copyright Page Dedication Acknowledgments Epigraph Foreword Introduction

CHANGES IN TERMINOLOGY PERFORMANCE DATA THE DISCLOSURE EXPLOSION OUR CHANGED, OR MODIFIED, BELIEFS THE CHANGED ENVIRONMENT TROUBLESOME REGULATORY PROBLEMS CONCLUSION

SECTION ONE - THE APPROACH

Chapter 1 - An Overview Chapter 2 - The Financial-Integrity Approach to Equity Investment

SECTION TWO - THE USES AND LIMITATIONS OF FUNDAMENTAL ANALYSIS AND TECHNICAL ANALYSIS

Chapter 3 - The Significance of Market Performance

THE “IDEALISTIC” VIEW OUTSIDERS, INSIDERS AND MARKET PRICE MARKET PERFORMANCE AND OVERALL PORTFOLIOS MEASURING MARKET PERFORMANCE PROFESSIONAL MONEY MANAGERS AND BEATING THE MARKET PERSPECTIVE ON BAILOUTS AND THE SIGNIFICANCE OF MARKET PERFORMANCE

Chapter 4 - Modern Capital Theory

THE COMPUTER AND MATHEMATICAL ANALYSIS ON SYSTEMS FOR PLAYING THE MARKET ON ARBITRAGE PORTFOLIO BALANCING FUNDAMENTAL SECURITY ANALYSIS AND CORPORATE FINANCE CALCULATION OR EVALUATION

Chapter 5 - Risk and Uncertainty

ASSESSING THE INVESTMENT ODDS: RISK AND REWARD QUALITY OF THE ISSUER PRICE OF THE ISSUE FINANCIAL POSITION OF THE HOLDER PORTFOLIO DIVERSIFICATION VERSUS SECURITIES CONCENTRATION CONSIDERING THE CONSEQUENCES RISK AND INVESTMENT OBJECTIVES

SECTION THREE - DISCLOSURES AND INFORMATION

Chapter 6 - Following the Paper Trail

A SUMMARY OF A PORTION OF SEC REGULATION 10 (B)5 AS IT PERTAINS TO DISCLOSURE THE DOCUMENTS AND HOW TO READ THEM OBTAINING THE DOCUMENTS WHAT THE PAPER TRAIL DOES FOR THE OUTSIDE INVESTOR WHAT THE PAPER TRAIL DOESN’T DO HOW GOOD IS THE PAPER TRAIL?

Chapter 7 - Financial Accounting

TYPES OF ACCOUNTING HOW TO UNDERSTAND FINANCIAL ACCOUNTING

Chapter 8 - Generally Accepted Accounting Principles

MYTHS AND REALITIES ABOUT THE MEANING OF GENERALLY ACCEPTED ACCOUNTING ... UNDERLYING GAAP ASSUMPTION 1 UNDERLYING GAAP ASSUMPTION 2 UNDERLYING GAAP ASSUMPTION 3 UNDERLYING GAAP ASSUMPTION 4 UNDERLYING GAAP ASSUMPTION 5 UNDERLYING GAAP ASSUMPTION 6 UNDERLYING GAAP ASSUMPTION 7 UNDERLYING GAAP ASSUMPTION 8 UNDERLYING GAAP ASSUMPTION 9 UNDERLYING GAAP ASSUMPTION 10 UNDERLYING GAAP ASSUMPTION 11 MYTHS ABOUT THE SHORTCOMINGS OF THE CORPORATE AUDIT FUNCTION AND THE ETHICAL ...

SECTION FOUR - THE FINANCIAL AND INVESTMENT ENVIRONMENT

TAX CONSIDERATIONS OTHER PEOPLE’S MONEY SOMETHING OFF THE TOP (SOTT): SOME PRELIMINARIES SOME PRELIMINARIES ON THE ACCOUNTING FUDGE FACTOR (AFF) HOW IT ALL MESHES

Chapter 10 - Securities Analysis and Securities Markets

REASONS FOR ACQUIRING AND HOLDING SECURITIES PROFIT MARGINS SIZE LIBERAL ACCOUNTING POLICIES ADVANTAGES OF A LOW NET ASSET VALUE WALL STREET SPONSORSHIP THE TRADING ASSUMPTIONS VERSUS THE INVESTMENT ASSUMPTIONS CONVERTIBLE SECURITIES LIMITATIONS ON COMPARATIVE ANALYSIS

Chapter 11 - Finance and Business

HEAVY DEBT LOAD LARGE CASH POSITIONS DIVERSIFICATION VERSUS CONCENTRATION MANAGEMENT INCENTIVES ADVANTAGES OF HIGHLY CYCLICAL COMPANIES IN COMPETITIVE INDUSTRIES GOING PUBLIC AND GOING PRIVATE GOVERNMENT REGULATION WHO RUNS MOST COMPANIES? CONSOLIDATED VERSUS CONSOLIDATING FINANCIAL STATEMENTS NEGATIVE VAUES IN OWING ASSETS

SECTION FIVE - TOOLS OF SECURITIES ANALYSIS

Chapter 12 - Net Asset Values

THE USEFULNESS OF BOOK VALUE IN SECURITY ANALYSIS BOOK VALUE AS ONE MEASURE OF RESOURCES BOOK VALUE AS ONE MEASURE OF POTENTIAL LIQUIDITY BOOK VALUE ANALYSIS AS A COMPETITIVE EDGE LIMITATIONS OF BOOK VALUE IN SECURITY ANALYSES

Chapter 13 - Earnings

WEALTH OR EARNINGS? THE LONG - TERM EARNINGS RECORD “PARSING” THE INCOME ACCOUNT

Chapter 14 - Roles of Cash Dividends in Securities Analysis and Portfolio Management

THE THREE CONVENTIONAL THEORIES CASH DIVIDENDS AS A FACTOR IN MARKET PERFORMANCE THE PLACEBO EFFECT OF CASH DIVIDENDS CASH DIVIDENDS AND PORTFOLIO MANAGEMENT CASH DIVIDENDS AND LEGAL LISTS CASH DIVIDENDS AND BAILOUTS THE GOALS OF SECURITIES HOLDERS

Chapter 15 - Shareholder Distributions, Primarily from the Company Point of View

CASH DIVIDENDS OR RETAINED EARNINGS STOCK DIVIDENDS DISTRIBUTION OF ASSETS OTHER THAN CASH LIQUIDATION STOCK REPURCHASES

Chapter 16 - Losses and Loss Companies

QUALITY CONSIDERATIONS AND TAX - LOSS COMPANIES ON ACCOUNTING AND INCOME BE WARY OF ACQUIRING EQUITY SECURITIES OF THE ENCUMBERED FIRM COMMERCIAL BANKS’ PORTFOLIO LOSSES THE “TURNED THE CORNER” THEORY

Chapter 16 - Losses and Loss Companies

QUALITY CONSIDERATIONS AND TAX-LOSS COMPANIES ON ACCOUNTING AND INCOME BE WARY OF ACQUIRING EQUITY SECURITIES OF THE ENCUMBERED FIRM COMMERCIAL BANKS’ PORTFOLIO LOSSES THE “TURNED THE CORNER” THEORY

Chapter 17 - A Short Primer on Asset-Conversion Investing: Prearbitrage and Postarbitrage

POSTARBITRAGE

SECTION SIX - APPENDIXES—CASE STUDIES

Introduction to Appendixes I and II

Appendix I Appendix II Appendix III Appendix IV ABOUT THE AUTHORS INDEX