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Advanced Seminar in Value Investing

Professor Paul Johnson

Columbia Business School is the academic home of Benjamin Graham and the birthplace of security analysis and value investing. Graham, with the help of David Dodd, taught Value Investing at Columbia from 1928 to 1956. Roger Murray taught the class until 1977. Notable graduates of the program include Warren Buffett, Mario Gabelli, Leon Cooperman, Chuck Royce, and William von Mueffling. After a gap of 15 years, Value Investing returned in the early 1990ís under Bruce Greenwald. Although academic finance in the 1960s and 1970s led to an emphasis on efficient market theory, recent academic research has eroded confidence in this hypothesis. New research supports many of the original tenets of the Graham and Dodd approach to investing.

This course is designed to teach the fundamentals of the Graham and Dodd value approach to investment management. The course will be segmented into two sections. The first sessions will describe the basic structure of the analytical approach to value investing and its relationship to many of the elements of the MBA curriculum. The remaining sessions will be devoted to live case analysis by the students.

 


Syllabus

 

 

 

 

 

This page was last updated on 07/17/11.