17024 Value Investing , 5 sp
The course develops a framework for value investing based on a modern treatment of the Graham and Dodd approach to investment management. The course covers the search for undervalued stocks, the valuation of stocks that pass the screening process, and the investment decision to buy a stock if its price is below the intrinsic value by a margin of safety.
You are familiar with the Graham & Dodd approach to investment management and have knowledge of empirical research related to value investing.
- create stock screens;
- do a Graham & Dodd valuation;
- evaluate the quality dimension of value investing;
- make investment decisions.
Problem solving in an international business environment. International cases are used. International research articles are used.
Completed bachelor's degree required.
Exercises 6 h (including investment case)
Exam 4 h
Preparing for exam 106 h
134 hours divided into
Scheduled (contact) hours: 28 h
Non-scheduled work: 106 h
First or second year of Master's studies.
• Greenwald, B., Kahn, J., Sonkin, P. D. & van Biema, M. (2001). Value investing: from Graham to Buffett and beyond. New York: Wiley.
• Graham, B. & Zweig, J. (2003). The intelligent investor. Revised edition. New York: HarperBusiness Essentials.
• Lu, Y. (2016). Inside the investments of Warren Buffett: Twenty cases. New York ; Chichester, [England]: Columbia Business School Publishing. E-book available at Hanken.
• Articles assigned by examiner.
Students who have completed the earlier course Value Investing (8 ECTS, course code 17003) or Investment Analysis (course code 1793) cannot take this course.
Open university quota: 3
Quota for JOO-students: 3