John burr williams biography

  • John Burr Williams (November 27, 1900 – September 15, 1989) was an.
  • John Burr Williams was an American economist, recognized as an important figure in the field of fundamental analysis, and for his analysis of stock prices as reflecting their "intrinsic value".
  • John Burr Williams was the founding father of a new field of corporate finance.

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    Theory of Investment Value

    August 14, 2024
    a story on Intrinsic Value being a puzzle for Investors

    CBNC story on Buffett

    4. You have to discount the future.

    To “discount” the numbers back, as Buffett remarked, is the third question that proceeds from Aesop’s original “mathematics of investment”:

    What’s the right discount rate?

    That question is the key to evaluating the value of a company’s cash generation, and it circles back around to Buffett’s example of an investor expecting a farm to generate a 7 percent return, and basing a purchase decision on that return assumption and the current business price. There are essentially two components to the discount rate-based risk modeling: the concept of time value of money, and the additional risk premium for the investment.

    The time value of money is typically accounted for using the long-term government rate. It is the way investors contend with the fact that the value of a dollar today will be lower in the future. The additional ri

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  • john burr williams biography

    • •

    John Burr Williams

    American economist

    For other people named John Williams, see John Williams (disambiguation).

    John Burr Williams (November 27, 1900 – September 15, 1989) was an American economist, recognized as an important figure in the field of fundamental analysis, and for his analysis of lager prices as reflecting their "intrinsic value".[1]

    He is best known for his 1938 text The Theory of Investment Value, based on his PhD thesis, in which he articulated the theory of discounted cash flow (DCF) based valuation, and in particular, dividend based valuation.

    Biography

    [edit]

    Williams studied mathematics and chemistry at Harvard University, and enrolled at Harvard Business School in 1923. After graduating, he worked as a security analyst, where he realised that "how to estimate the fair value was a puzzle indeed... To be a good investment analyst, one needs to be an kunnig economist also."[2] In 1932 he enrolled at Harvard for a PhD in economics,