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Expectations Investing cover art

Expectations Investing

By: Michael J. Mauboussin, Alfred Rappaport
Narrated by: Steve Routman
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Summary

Expectations Investing offers a unique and powerful alternative for identifying value-price gaps. Rappaport and Mauboussin provide everything the listener needs to utilize the discounted cash flow model successfully. And they add an important twist: They suggest that rather than forecasting cash flows, investors should begin by estimating the expectations embedded in a company's stock price. An investor who has a fix on the market's expectations can then assess the likelihood of expectations revisions. To help investors anticipate such revisions, Rappaport and Mauboussin introduce an "expectations infrastructure" framework for tracing the process of value creation from the basic economic forces that shape a company's performance to the resulting impact on sales, costs, and investment. Investors who use Expectations Investing will have a fundamentally new way to evaluate all stocks, setting them on the path to success. Managers will be able to use the book to devise, adjust, and communicate their company's strategy in light of shareholder expectations. 

PLEASE NOTE: When you purchase this title, the accompanying PDF will be available in your Audible Library along with the audio.

©2021 Michael J. Mauboussin and Alfred Rappaport (P)2022 Audible, Inc.

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Overcomplicated

Most things mentioned in this book are important in theory, and some parts are interesting, but the insistence of the authors to slap a model or formula onto everything makes the book overly complicated. The audiobook format amplifies this, so get the printed book if you want to absorb what the authors are saying.

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