Stephen Penman is The George O. May Professor and the Morgan Stanley Research Scholar in the Graduate School of Business at Columbia University. He also serves as co-director of Columbia's Center for Excellence in Accounting and Security Analysis. He is currently a professor at Columbia University Graduate School of Business and is co-director of the Center for Excellence in Accounting and Security Analysis. Before joining Columbia University in 1999, he was with the Federal Reserve Bank of New York as a senior economist.
The seller was excellent! The book arrived virtually new and just before we expected it. Now, the contents. I should inform you right away that if your objective is to find out how to invest in stocks, then this book is NOT for you. If you want an easy read, then this book is perfect. However, if you want to learn how to value a company, then this book is not for you. It is too basic and does not go into any depth.
I own the original version and have read it numerous times. The new edition is an excellent update to the classic work. I enjoy the updated chapters and the additional resources. Overall - great book!
This textbook is awful and full of errors, and it is very difficult to follow because you cannot link the numbers back to the chapters they reference previously calculated. Instead of typing in numbers into cells, the spreadsheet should be linked so that if I change one number, the entire column changes. Also, the book does not contain any formulas, so how did the author calculate these numbers? Save yourself time, money, and your sanity and choose a better book!