Deep Value: Why Activist Investors and Other Contrarians Battle for Control of 'Losing' Corporations, Hardcover

Contributor(s):

Author: Tobias E. Carlisle

The economic climate is ripe for another golden age ofshareholder activism

Deep Value: Why Activist Investors and Other ContrariansBattle for Control of Losing Corporations is a must-readexploration of deep value investment strategy, describing theevolution of the theories of valuation and shareholder activismfrom Graham to Icahn and beyond. The book combines engaginganecdotes with industry research to illustrate the principles andmethods of this complex strategy, and explains the reasoning behindseemingly incomprehensible activist maneuvers. Written by an activevalue investor, Deep Value provides an insider's perspectiveon shareholder activist strategies in a format accessible to bothprofessional investors and laypeople.

The Deep Value investment philosophy as described by Grahaminitially identified targets by their discount to liquidationvalue. This approach was extremely effective, but thoseopportunities are few and far between in the modern market, forcingactivists to adapt. Current activists assess value from a muchbroader palate, and exploit a much wider range of tools to achievetheir goals. Deep Value enumerates and expands upon theresources and strategies available to value investors today, anddescribes how the economic climate is allowing value investing tore-emerge. Topics include:

Target identification, and determining the most advantageousends Strategies and tactics of effective activism Unseating management and fomenting change Eyeing conditions for the next M&A boom

Activist hedge funds have been quiet since the early 2000s, buteconomic conditions, shareholder sentiment, and availableopportunities are creating a fertile environment for another goldenage of activism. Deep Value: Why Activist Investors and OtherContrarians Battle for Control of LosingCorporations provides the in-depth information investorsneed to get up to speed before getting left behind.