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Category: Business and Industry
Date Submitted: 10/20/2013 04:18 AM
Investment Philosophy of Warren E. Buffett vs Principle and Theory of Finance
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nvestment Philosophy of Warren E. Buffett vs Principle and Theory of Finance ª√—™≠“°“√≈ß∑ÿπ¢Õß«Õ√å‡√π Õ’ ∫—ø‡ø∑∑å ‡ª√’¬∫‡∑’¬∫°—∫ ·π«§‘¥·≈–∑ƒ…Æ’∑“ß°“√‡ß‘π
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Õ“®“√¬åª√–®” “¢“«‘™“°“√‡ß‘π §≥–∫√‘À“√∏ÿ√°‘® ¡À“«‘∑¬“≈—¬ÀÕ°“√§â“‰∑¬ E-mail: wanrapee@gmail.com
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Abstract
This paper explores the investment philosophy of Warren E. Buffett and compares his investment philosophy to the principle and theory of finance. Buffettûs investment philosophy comprises applying economic information, not accounting information; taking into account the opportunity cost; focusing on the time value of money, wealth creation
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and the alignment of agency problems; and investing on the basis of information and analysis. Similar to the principle and theory of finance, Buffett employs the concepts of economic value added (EVA), capital budgeting, intrinsic value, and corporate governance. Dissimilar to the principle and theory of finance,...