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Economics
The basic principle of value investing is to "never invest in a company whose value is not commensurate with the amount you pay." The "corporate value" of value investing is defined as "the sum of the present value of the cash flows that the company can generate in the future." How can we identify and calculate intrinsic value, which is the creative power of free cash flows, in the future? This book provides a systematic and easy-to-understand explanation of how to calculate intrinsic value, that is, the creativity of free cash flows. How to find a company that can create and increase value. How to find a company that can continue to create and increase value. It discusses universal ways of thinking and provides a path to understanding value creation beyond the short-term perspective. This book provides a practical approach to corporate value analysis!