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Stories of CapitalismInside the Role of Financial Analysts$
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Stefan Leins

Print publication date: 2018

Print ISBN-13: 9780226523392

Published to Chicago Scholarship Online: September 2018

DOI: 10.7208/chicago/9780226523569.001.0001

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Intrinsic Value, Market Value, and the Search for Information

Intrinsic Value, Market Value, and the Search for Information

(p.69) 5 Intrinsic Value, Market Value, and the Search for Information
Stories of Capitalism

Stefan Leins

University of Chicago Press

This chapter deals with the financial analysts’ assumption that companies have a so-called intrinsic value that can be identified and is partly reflected in the stock price. It highlights the role the search for new information plays in the endeavor to define such intrinsic value. In explaining how analysts frame, select, and weight information, it shows that, rather than being a straightforward activity, financial analysis is heavily influenced by what analysts perceive to be valuable information.

Keywords:   financial analysts, fundamental analysis, intrinsic value, investment, information, market signal, market value, security analysis, speculation

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