The Theory of Investment Value

Cambridge, MA: Harvard University Press, 1938. First Edition. Very Good. First edition, first printing. Bound in publisher's red cloth ruled in blind with spine titled in gilt; lacking the dust jacket. Very Good with cloth lightly soiled and edge-worn. Evidence of bookplate removal from front pastedown and previous owner name to front free endpaper. Pages toned. An seminal work based on the author's Harvard University PhD thesis in which he argues that the true intrinsic value of a business is its payout of dividends throughout its lifetime discounted back to the present value. (Inventory #: 140940904)