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| Subject: John Burr Williams John Burr Williams (1900 – September 15, 1989), one of the first economists to view stock prices as determined by “intrinsic value”, is recognised as a founder and developer of fundamental analysis. He is best known for his 1938 text “The Theory of Investment Value”, based on his Ph.D. thesis, which was amongst the first to articulate the theory of Discounted Cash Flow (DCF) based valuation, and in particular, dividend based valuation. (Wikipedia Jan 2010) Post Modern Security Analysis By John Schroy, on August 1st, 2009 |  One comment  Security Analysis is the study of facts about negotiable instruments for the purpose of determining whether a particular instrument is appropriate for a specific investor at a particular time and the intrinsic value of the security compared to its market price, if any. The technique has evolved over time with the changing nature of information. In the 21st century, with a flood of open source information and increasingly complex, global markets, new approaches are necessary. August 1st, 2009 | Print Article |  Email Article |  Topics: Benjamin Graham, Bernard Madoff, Black and Scholes, common stock legend, David Dodd, efficient market hypothesis, ERISA, Eugene Fama, gold standard, Graham & Dodd, Harry Markowitz, John Burr Williams, Miller and Modigliani, Moody's, Paul Krugman, Post Modern Security Analysis, Richard Nixon, SEC Rule 10b-18, Standard & Poor's, The Economist, US SEC, W.D. Gann, Warren Buffett, William Sharpe | Category: New Economic Theory | One comment |  Short urlSecurities Analysis By John Schroy, on February 26th, 2007 | 2 comments  Commonsense analysis shows that US equities are at least 40% overvalued, a conclusion supported by many academics and John Burr Williams’s formula. This suggests that many retirement plans, based on equity investments, may be in trouble, if (or better, when) stocks fall to reasonable values. This article, using John Burr Williams’ famous formula, shows how the market may be valued. February 26th, 2007 | Print Article | Email Article | Topics: Baby Boomers, common stock legend, Corporate Governance, dividends, John Burr Williams, risk, S&P 500, Security Analysis, US SEC | Category: Security Analysis, featured | 2 comments | Short urlUS Equity Market By John Schroy, on March 8th, 2006 | Leave a comment  Over the last five quarters, the annual rate of dividends paid by US non-financial corporations has fallen by two-thirds, from $462.2 billion to $160.5 billion. The apparent reason for this negative trend is the intent of corporate management to radically increase stock buybacks in order to boost the value of executive options. March 8th, 2006 | Print Article | Email Article | Topics: Corporate Governance, dividends, executive stock options, Interest Rates, intrinsic value, John Burr Williams, market manipulation, mutual funds, price earnings ratios, Stock Buybacks | Category: US Equities | Leave a comment | Short urlFeatured articles on inside pages
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