This course is designed to develop the approach to investments and
security analysis pioneered by Benjamin Graham and David Dodd. The
course details the comprehensive statistical evidence in favor of such
an approach and the types of investments that are likely to be fruitful
targets of a value approach. The course focuses on an approach to
determining intrinsic values in practice that has the advantage of
segregating valuation information by reliability level and using only
the most reliable information as a basis for investment decisions in
order to obtain a "margin of safety." The course consists of lectures
and visiting speakers who are successful practicing value investors.
David L. and Elsie M. Dodd Professor of Finance
Professor Santos' research focuses on two distinct areas. A first interest is the field of asset pricing with a particular emphasis on theoretical and empirical models that can account for the predictability of returns, both in the time series and the cross section. A second interest of Professor Santos is applied economic theory, specifically, the economics of financial innovations as well as theory of...