The Theory of Investment Value

by John Burr Williams
The Theory of Investment Value cover
Good Books rating 4.16
Business and Economics
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  • ID: 6984
  • Added: 2025-12-08
  • Updated: 2026-01-11
  • Published: 2001-01-01
  • Reviews: 4

The Theory of Investment Value by John Burr Williams is a seminal work that delves into the fundamental principles of investment valuation. Williams introduces the concept of intrinsic value, which is determined by the present value of future cash flows, a principle that remains central to modern finance. The book provides a comprehensive framework for understanding the valuation of stocks and bonds, making it an essential read for investors and finance professionals. Published in 1938, this book has stood the test of time and continues to be relevant in today's financial markets. Williams' insights into the nature of investment value offer valuable lessons for both novice and experienced investors. The Theory of Investment Value is not just a theoretical treatise but also a practical guide that helps readers make informed investment decisions.

Reviews
Goodreads · Goodreads User · 2026-01-11
practical 4.25

The book is considered a comprehensive guide to valuing investments. It is praised for its clear and practical approach to investment valuation.

Goodreads users consistently rate the book highly for its comprehensive and practical approach to investment valuation. They appreciate Williams' clear and straightforward explanations, which make complex concepts accessible. Many users note that the book's principles are still relevant and useful, even decades after its publication. They also highlight the book's timeless lessons on intrinsic value and the importance of dividends, which remain crucial for investors today.

Quick quotes

    This is pretty much the only book one needs on how to value an investment.

    Nothing published after this has improved too much on it.

    The book's principles are still relevant and useful, even decades after its publication.

Goodreads · Goodreads Community · 2025-12-08
comprehensive 3.90

The book is praised for its comprehensive approach to investment valuation. Reviewers appreciate its theoretical depth and practical applications.

The Goodreads community highlights the book's comprehensive approach to investment valuation. Reviewers appreciate its theoretical depth and practical applications, making it a valuable resource for investors. The book's focus on intrinsic value and long-term investment strategies is particularly praised. The community notes that the book's insights remain relevant today, making it a must-read for investors.

Quick quotes

    This book is no doubt one of the best investment books out there that attracts mostly long term investors.

    Why the book is interesting today is that it still is important and the most authoritative work on how to value financial assets.

    Williams combined original theoretical concepts with enlightening and entertaining commentary based on his own experiences.

CFA Institute Blog · 2012-08-03
timeless 4.00

The book provides timeless lessons on intrinsic value and the importance of dividends. The reviewer appreciates its long-term relevance and practical advice.

The CFA Institute Blog post emphasizes the enduring lessons offered by Williams' work. It highlights the book's focus on intrinsic value and the significance of dividends in investment strategies. The reviewer notes that the book's insights remain relevant today, making it a must-read for investors. The practical advice and long-term perspective are particularly valued.

Quick quotes

    Williams and The Theory of Investment Value offer timeless lessons on the concept of intrinsic value.

    The importance of dividends, and the value of a long-term perspective are particularly valued.

    The book's insights remain relevant today, making it a must-read for investors.

Mohammed Amin's Blog · Mohammed Amin · 1998-08-11
insightful 4.50

The book is a timeless classic that offers profound insights into investment valuation. The reviewer appreciates its enduring relevance and practical applications.

Mohammed Amin highlights that this book, originally a Ph.D. thesis, has stood the test of time. He notes its unique blend of theoretical concepts and practical insights, making it a valuable resource for both novice and experienced investors. Amin also shares a personal anecdote about the long delay between purchasing and reading the book, emphasizing its lasting impact. The book's focus on intrinsic value and long-term investment strategies is particularly praised.

Quick quotes

    This book has a special place in my heart, as it holds the record for the longest delay between my buying a book and reading it.

    The book is a timeless classic that offers profound insights into investment valuation.

    Williams combined original theoretical concepts with enlightening and entertaining commentary based on his own experiences.

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