“More than ever, a good value investor is a specialized value investor, someone who understands a particular industry, market trends, or class of events very well. This program will equip you to become that value investor.”
– The Faculty Director Tano Santos

Building on our popular Value Investing program, the Advanced Value Investing program provides a deeper dive into the world of value investing. It explores how the practice has evolved since its inception and provides cutting-edge insights and best practices for the future of investing in a world of disruption and ever-changing trends in the market.

The practice of value investing is flexible and tactical. It uses techniques that are specific to the problem at hand and extends to investments beyond public equities. Advanced value investing emphasizes investing in compounders— companies that can reinvest capital at returns of invested capital well above the costs of capital, have large total addressable markets so that they can grow with the market and “compound” for long periods of time, and are careful in the evaluation of the risks of the business operations of the firm.

The program delves deeply into the logic compounders, both conceptually and in practice, followed by an analysis of the disruption and changing trends in the market. Two case studies help exemplify and deepen the understanding of disruption risks, equipping the participants to understand trends beyond standard diversification arguments.

Finally, the program explores slow-moving consumer trends by examining industries like healthcare, education, and leisure, leaving the participants better equipped to position their investment portfolio.

Please Contact Us

Please contact our Learning Solutions Specialists at +1 212-854-3395 for a personal conversation to learn more.

IMPACT

Advanced Value Investing builds on the popular Value Investing program at Columbia Business School Executive Education. The Advanced Value Investing program offers:

• A crash course in the valuation framework, an investment approach that is flexible and tactical
• A deep dive into the framework of investing in compounders — companies that can reinvest capital at returns of invested capital well above the costs of capital and that have large total addressable markets so that they can grow with the market and “compound” for long periods of time
• A better understanding of risk beyond standard diversification arguments
• A look at the disruption and changing trends in the market, including macrotrends and regulatory threats
• The increasing importance of slow-moving consumer trends to the portfolio diversification

Upon completion of this program, you will earn three credits towards a Certificate with select alumni and tuition benefits. Learn more.

PROGRAM STRUCTURE

This program currently takes place in a live online format. View the program schedule.

The program takes place over the course of five days and covers the following topics, which are supported by relevant case studies:

Day 1

• Introduction: What is Modern Value and Why Now?
• Review of the Basic Valuation Framework

Day 2

• The Logic of Growth and Compounding

Day 3

• Risk Management: Frameworks
• Technological Disruptions

Day 4

• Risk Management: Regulatory Disruptions
• Trends: The Case of the Tourism Industry

Day 5

• On the Issue of Management: Shareholder Engagement
• The Total Investor

For a complete program schedule download the agenda.

PARTICIPANT PROFILE & TESTIMONIALS

This program builds on the Value Investing program at Columbia Business School Executive Education. While attendance of the Value Investing program isn't a prerequisite to attend this program, a basic understanding of value-based investing principles is highly recommended to get full value out of this program.

Typical Participant Mix

Hear from Past Participants:

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Herman Liu

Manager at Sung Kee Hong Ltd

“Professor Santos is extremely helpful and knowledgeable in value investing. I have a much deeper understanding of how value investing is applied in modern times after this course.”

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Chris Carlson

“I can't recommend this course enough. Real-world context with great academic foundation.”

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Frederik Bossens

“I've been reading about value investing for decades. But after taking the online version of the Value Investing program, my thinking about value investing improved dramatically. Then I worked with the basic framework for three years. Then I took this advanced course and again, I noted a great improvement and advancement in my thinking, making me more capable of doing valuation even in the most modern industries such as online payment, online booking, etc. I recommend this course to every serious value investor.”

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Juan Anton

“Very useful program. Tano Santos is awesome. I strongly recommend it.”

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Martin Darrer

Project Manager

“In found this course informative, though-provoking, and filled with great discussion on the topic of Value Investing. The content and interaction was excellent. I wouldn’t hesitate to recommend this program to a fellow colleague.”

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Daizy Diab

Director

“Best program I have ever taken.”

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Yazan Kasey

“Professor Santos is an excellent instructor and teacher. I would love to continue my education with Columbia on my journey to becoming a better value investor.”

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Herman Liu

Manager at Sung Kee Hong Ltd

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Chris Carlson

“I can't recommend this course enough. Real-world context with great academic foundation.”

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Frederik Bossens

“I've been reading about value investing for decades.

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Juan Anton

Pomander S.A.

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Martin Darrer

“In found this course informative, though-provoking, and filled with great discussion on the topic of Value Investing.

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Daizy Diab

Value Capital Partners

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Yazan Kasey

“Professor Santos is an excellent instructor and teacher.

Columbia Business School alumni and up to four of their colleagues are eligible for a 25 percent tuition benefit for this program. More on the Alumni Tuition Benefit.

FACULTY

Tano Santos, Faculty Director
David L. and Elise M. Dodd Professor of Finance
Co-Director of the Heilbrunn Center for Graham & Dodd Investing

Tano Santos is one of Columbia Business School’s value investing experts. His 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 the theory of organizations. Santos joined the Columbia Business School faculty in 2003.

What past Value Investing participants are saying about Professor Santos:
 

"Tano Santos was outstanding and very clear. Great presenter with a great sense of humor and terrific content.”
– Donald B. Craven, Attorney and Energy Consultant

FAQ

 
Do you have questions about our live online programs? Please review our commonly asked questions on our live online programs FAQs page.