Professor Bruce Greenwald

Professor Bruce Greenwald （wiki; http://www0.gsb.columbia.edu/whoswho/bio.cfm?ID=53）上两门课：Value Investing 和 Economics of Strategic Behavior.

很多次听人说上他一门课全部学费都值回票价了，我觉得并不夸张. outstanding 的老师很多，大师级的就少了。大师里面能够言简意赅一语中的而且幽默风趣的少之又少。Bruce Greenwald是不世出的天才，Benjamin Graham 和 Warren Buffet 之后 Value Investing 的代表。不知道Graham口才如何，相比Buffet，Greenwald讲话要有趣多了。他的两门课都在266个座位的教室上，有时候要坐在地板上。

争取有时间能整理一点笔记出来保存在这里和大家分享。

Seminar in Value Investing 5:45pm – 8:45pm
SPRING 2007
Instructor: Bruce Greenwald, Robert Heilbrunn Professor of Asset Management & Finance

Course Overview
This course is intended to teach students the fundamentals of the value approach to investment management developed by Graham and Dodd. This will be done through a combination of formal lectures, in-class valuation discussions, and presentations by leading value investors (13-16 class sessions). The substantive areas covered will include (1) the fundamental assumptions and approaches to value investing, (2) techniques for assessing fundamental value – balance sheet and earnings power approaches, (3) structuring value-based portfolios to control risk and (4) designing strategies for searching efficiently for value investing opportunities. The principal texts will be:

Benjamin Graham, The Intelligent Investor, 4th edition, revised 2003, Harper Collins, New York, 2003
Bruce Greenwald et Al., Value Investing: from Graham to Buffett and Beyond, John Wiley, New York, 2001

Jan 18th, Jan 23rd
Introduction to the Fundamentals of Value Investing and Fundamentals of Valuation

Jan 25th
Hudson General Valuation

Jan 30th
Strategic Valuation Analysis

Feb 1st
Liz Claiborne Valuation

Feb. 6th
Valuing Growth & Managing Risk

Feb 8th
Sealed Air Valuation & Cryovac Valuation

Feb 13th
Retail Industry Valuations & Conclusions



Speakers
Feb 15th
Li Lu, Himalaya Capital
Feb 20th
Chris Browne, Tweedy, Browne Company
Feb 22nd
Bill Nygren, The Oakmark Funds
Feb 27th
Mario Gabelli, Gabelli Asset Management
Mar., 13th
Charles Brandes, Brandes Investment Partners
Mar., 20th
Beth Lilly, Woodland Partners
Mar., 22nd
Paul Sonkin, Hummingbird Management
Tu., Mar., 27th
Bob Bruce, The Robert Bruce Management Co.
Mar., 29th
Andrew Weiss, Weiss Asset Management
Apr., 5th
Glenn Greenberg, Chieftain Capital Management
Apr., 10th
Michael Price, MFP Investors
Apr., 12th
Tom Russo, Gardner Russo & Gardner
Apr., 17th
Seth Klarman, Baupost Group
Apr.,19th
Lewis Sanders, AllianceBernstein