The Conscious Investor

his book looks at the stock market methods of Benjamin Graham, John Burr Williams, Warren Buffett, Robert Wiese, Joel Greenblatt, James Tobin, William O'Neill, Maynard Keynes, James Ohlson, Bruce Greenwald, Kenneth Lee, Robert Haugen and others.
The valuation methods include net current asset value, discounted cash flow (DCF), dividend discount, payback, magic formula, residual income, CANSLIM, q-theory, PEG and PEGY ratio, benchmark, option valuation, expected return and many others.

nvesting, as opposed to speculating, starts with the question: What is it really worth? Even more fundamental is: What rate of return can I confidently expect to get? Without having the methods to answer these questions is like trying to sail a boat without a rudder.

Answering these fundamental questions is the core of The Conscious Investor.

There are some technical details in the book ... tables and charts. These are necessary if you are actually going to calculate the real value of stocks. But underneath there are commonsense guidelines and methods to help you make the most from every dollar that you invest in the stock market.

Timeless Value Approach
The Conscious Investor covers each of the main methods used to calculate value or expected return in the stock market, along with descriptions of how and when to use them, as well as their strengths and weaknesses. Interspersed throughout the methods are the timeless investment principles of Benjamin Graham, Warren Buffett, and others. The book:

Includes balance sheet methods, dividend discount methods, discounted cash flow (DCF) methods, expected return methods, and many others
Explains the significance of viewing real value as a combination of a stock's price or market value and its intrinsic value
Comes with free access to key functions in the author's Conscious Investor® software

The Conscious Investor is indispensable reading for everyone with an interest in investing in the stock market, from novices to experienced professionals. Using this book as your guide, you'll quickly discover what it takes to be a conscious investor and have confidence in knowing what and when to buy, when to hold, and when to sell. It will help you develop what Warren Buffett calls a "sound intellectual framework for making decision and the ability to keep emotions from corroding that framework."

There is More to Being a Conscious Investor
Despite all the hype and madness on the surface of the stock market, underneath you are dealing with real businesses with real products and services. The aim of the book is to show you how you can identify the best of these businesses and profitably invest in them using well-founded timeless value methods. With this book I hope you become a conscious investor and experience the stock market as a lot of fun, with the process of building wealth and financial security a pleasure instead of a stressful duty.

But there is more to being a conscious investor. I also use the term to describe someone who invests in companies with products and services they believe in and perhaps even use. In this sense, another component to being a conscious investor is recognizing that measuring value also includes how the money is made, and not just the amount that is made. Investing in this way provides not just quantity, but also an additional layer of quality. It is like making a small nudge towards your own version of a better society and a more caring world.

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