Uploaded March 2026 | Updated September 2026, 1 week ago
In this session, we begin by defining value investing. In our view, value investors invest in companies where they believe that the value from assets in place (investments already made) exceeds the price paid. As a consequence, they are drawn to mature companies in established businesses. Value investing can come in many forms, and there are at least three broad groups of value investors: passive screeners, contrarian investors and activist investors. We close the session by looking at two legends in the value investing space: Ben Graham, whose books represent the basis for value investing and Warren Buffett, whose every word is parsed for meaning by value investors.
Playlist for class (Intro + 42 sessions): youtube.com/playlist?list=PLUkh9m2BorqnZGADa8cTzeJblmrZY_SqP&si=zI2pk17pJeld4nWR
Slides: https://www.stern.nyu.edu/~adamodar/pdfiles/invphilslides25/session12.pdf
Post-class test: https://www.stern.nyu.edu/~adamodar/pdfiles/invphilcertificate/postclass/session12test.pdf
Post-class solution: https://www.stern.nyu.edu/~adamodar/pdfiles/invphilcertificate/postclass/session12soln.pdf
In this session, we begin by defining value investing. In our view, value investors invest in companies where they believe that the value from assets in place (investments already made) exceeds the price paid. As a consequence, they are drawn to mature companies in established businesses. Value investing can come in many forms, and there are at least three broad groups of value investors: passive screeners, contrarian investors and activist investors. We close the session by looking at two legends in the value investing space: Ben Graham, whose books represent the basis for value investing and Warren Buffett, whose every word is parsed for meaning by value investors.
Playlist for class (Intro + 42 sessions): youtube.com/playlist?list=PLUkh9m2BorqnZGADa8cTzeJblmrZY_SqP&si=zI2pk17pJeld4nWR
Slides: https://www.stern.nyu.edu/~adamodar/pdfiles/invphilslides25/session12.pdf
Post-class test: https://www.stern.nyu.edu/~adamodar/pdfiles/invphilcertificate/postclass/session12test.pdf
Post-class solution: https://www.stern.nyu.edu/~adamodar/pdfiles/invphilcertificate/postclass/session12soln.pdf
