The Theory of Investment Value.

WILLIAMS, John Burr.

Item Number: 5652

Amsterdam: North-Holland Publishing Company, 1964.

Later edition of the author’s groundbreaking work. Octavo, original wrappers. Inscribed by the author on the front free endpaper, “To Kimun Lee with the compliments of the author John Burr Williams.” In near fine condition. Books signed or inscribed by Williams are rare.

Based on the author’s Ph.D. thesis at Harvard, John Burr Williams' discovery was to project an estimate that offers intrinsic value and it is called the 'Dividend Discount Model' which is still used today by investors. "Williams combined original theoretical concepts with enlightening and entertaining commentary based on his own experiences in the rough-and-tumble world of investment" (Peter L. Bernstein).