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What Would Ben Graham Do Now? A New Value Investing Playbook for a Global Age_2

Tham khảo tài liệu 'what would ben graham do now? a new value investing playbook for a global age_2', tài chính - ngân hàng, tài chính doanh nghiệp phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | 1 Introduction 3 but limit themselves to short-term highly liquid or speculative and technical strategies. In doing so they missthe point and ignore the most important lessonof valueinvesting An investorcan build the mostwealth not by speculatingor going short-term but by capturing real economic valuein companies.This meansstayingfocusedon economicvalue. It meansthinking long-term. And that is the crux of the problem. How do you focuson economicvalueoverthe long term particularly for private companiesand illiquid assetsjn environmentsthat are inherently unstableand uncertain The struggleto go global is really the struggle to apply a long-term and value-basedinvestment approachin unstableand uncertain landscapes. What Would Ben Graham Do How would the father of value have viewed the global investment landscape of the 21st century What would Ben Grahamthe father of value investing author of the classic texThe Intelligent Investor and coauthor with David Dodd of Security Analysishave thought of the 21 st century Could he have imagined the rapid rise of China India Brazil and Russia What would he have thought of an investment world that included autocratic governments limited or absent legal and regulatory structures and odd kinds of company ownership public private government quasi-government What would Graham have thought about investing in a state capitalist system like Russia At the start of the 21st century it is startling to see how far the world has moved from the investment landscape in which Graham invested and taught. The increasing collision of developed and developing markets has created a very new and different terrain. On one side half of the human population is rapidly rising creating new markets for both business and investmồAte see thousands of companies emerging in non-Western markets offering investment opportunities and changing the competitive dynamic Western companies. These markets socioeconomic systems and companies are clearly different from .