‘‘This timely boo kchallenges investors to move away from the recently-
popular ‘Q Culture’ of speculation to the ‘V Culture’ of value investing,
based on business analysis that focuses on the basics of finance, account-
ing, and governance. The author reminds us that, ‘earnings and cash
flows are what give a business value’—the eternal message of long-run
success in equity investing. It is the critical lin kin the investment chain,
and Larry Cunningham’s boo kforges it with heat, power, and persuasive-
ness.’’
Jac kBogle, Founder and Former Chairman,
The Vanguard Group
‘‘Larry Cunningham masterfully tackles critical subjects at the heart of
today’s markets. A much-needed work on a unique style of investing, this
boo kputs the ABCs of common sense valuation bac kinto the business of
investing. This is the place to loo kfor insight and guidance in the age of
volatile markets and colliding ideas.’’
Alan C. (‘‘Ace’’) Greenberg, Chairman, Bear Stearns
‘‘Anyone desiring to be a successful investor should read this excellent
boo kpresenting the important investing principles of Graham, Buffett,
Fisher, and others in a most insightful and understandable manner.’’
David J. (‘‘Sandy’’) Gottesman, Chairman, First Manhattan
‘‘Remarkably timely. For stock players who realize they played the greatest
fool in the Internet stoc kgame, Cunningham offers a tool for rehabilita-
tion: a guide to thoughtful investing. For earnest investors, he shows how
to live profitably with the moodiness of Mr. Market.’’
David Henry, Associate Editor, Finance,Business Week