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Topics included are on basic valuation of various securities and projects using discounted cash flows, capital budget management, liquidity management, etc. I'm still learning from it after school. There simply wasn't enough time to fully cover everything in the book that I would have wanted. Now I'm ready to tackle more advanced corporate finance books/materials.
This is an introductory book for someone who may be interested in becoming a financial analyst but is obviously geared to the educational market for use in schools. The academic slant limits its applicability somewhat. Although it may give a stock market player who wants to start understanding the systematic process involved in the valuation of securities on a cash flow basis some insight for example, discussion on valuation by multiples like P/Es is virtually absent.
Nonetheless a great book.
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Covers basic ratio analysis, all the way through Capital Budgeting, and analysis of suitable equity / debt mix.
Although lacking in more sophisticated methods and any discussion of newer topics such as derivatives, and International trade issues (FX Translation), this book is perfect for the Regional Bank staffer or mid size Corp CFO.
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Unfortunately, the praise gets to be redundant and--may I say it?--almost hollow, without the balance of some thoughtful criticism. Personally, I wouldn't have much negative to say regarding Tolkien's work, but I found very little that was genuinely fresh or enlightening in this collection of "meditations." I did discover an interest in some of the authors included (not a bad reason for their involvement in the project) and in earlier 20th century writers that I have never familiarized myself with. Lord Dunsany, E.R. Eddison, Fritz Leiber, and Mervyn Peake are only a few of the old standbys mentioned repeatedly.
Although interesting, a quick read, and well-written, this collection might best serve those curious in unearthing the inspiration beneath some of their favorite authors. I was hoping for something with more vitality, but overall I'd recommend the book.
Harriet Klausner
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considerable amount of so called "numbers crunching" is involved in reviewing this text. As such, the book serves the analytic student optimally. The text is devoid of the most complicated analytics inherent in "quantitatively oriented texts". There is a good appendix on the use of financial calculators ,as well as, present value calculations and other useful knowledge supplemental to the study of finance. This book would be most useful to students planning their careers as financial analysts, corporate planners or private entrepreneurs.