Goodbye to book value investing
Chuck Joyce
(Chuck Joyce is a strategist with Grantham, Mayo, Van Otterloo & Co. LLC in Boston, Massachusetts, USA and London.)
Jack Gray
(Jack Gray is a strategist with Grantham, Mayo, Van Otterloo & Co. LLC in Boston, Massachusetts, USA and London.)
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Abstract
The authors argue that book value accounting is now completely out of date. Citing examples based on the Campbell’s Soup company and AOL Time Warner they show how investors who are tied too closely to a simple value benchmark have missed out on the value rally in the markets. They advocate value‐based management.
Keywords
Citation
Joyce, C. and Gray, J. (2002), "Goodbye to book value investing", Balance Sheet, Vol. 10 No. 2, pp. 15-16. https://doi.org/10.1108/09657960210433131
Publisher
:MCB UP Ltd
Copyright © 2002, MCB UP Limited