Based on the Ben Graham or Warren Buffett approach to allocating capital, this exclusive program will teach the frameworks and processes of investing that some of the most successful investors in the world employ to manage and preserve capital.

Value Investing was developed in the 1920s at Columbia Business School by finance professors Benjamin Graham and David Dodd. The professors co-authored the classic text, Security Analysis (1934) and are regarded as the field’s pioneers. They continually revised their methodology and their courses. Columbia Business School graduate Warren Buffett, who learned from Ben Graham during his studies at Columbia, made his fortune using the principles of Graham and Dodd's Security Analysis.

With unmatched access to Wall Street, renowned finance and accounting divisions, and the Heilbrunn Center of Value Investing resources, Columbia Business School is the only school to offer this unparalleled program in investing.

Through this Executive Education program, Value Investing is available in an open-enrollment, multi-day format for working executives and investors. Participants learn at the birthplace of value investing from leading experts in the field.

You will learn how to use quantitative valuation techniques, such as arbitrage, asset-based approaches, and the earning power method, and you will effectively combine those tools with strategic methodologies for estimating franchise value. Several real-world case studies enable a more precise estimation of investment risk and improve your ability to manage a value portfolio.

For a complete program schedule download the agenda.

Other Formats

This program is also being offered in an asynchronous online format, delivered in collaboration with our partner Emeritus. Learn more about Value Investing (Online). To compare program formats, click here.

Please Contact Us

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

IMPACT

Participants in Value Investing are exposed to intense introduction to value investing, taught by leaders in the field. It aims to familiarize you with the principles and techniques of value investing through a combination of formal lectures and in-class valuation discussions.

• Learn a method of fully exploiting available data for making investments
• Develop a process for systematic valuation
• Strengthen your ability to evaluate growth and risk

You'll walk away with a coherent view of investing, one that integrates a sound understanding of the economics of the business operation of the firm, a robust valuation approach, and a toolbox of risk management techniques beyond mindless diversification.

"The course was enlightening, educational, and fun. The professor is excellent. Clearly an expert in the field and articulate as well."
– Senior VP, Marketing, Brandes Investment Partners & Co

Warren Buffet on Value Investing

In honor of Columbia Business School's 100th anniversary, the School's famous alum sat down with the dean to discuss the past, and future, of value investing.

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. You may also view the in-person program schedule for when our in-person programming resumes.

Readings and case studies are sent prior to the program to help facilitate the lecture and discussion.

Part one of the program provides an extensive introduction to value investing, including:

• Approaches to investing
• Value investing principles and premises
• Stock market trends
• Investment search criteria
• The value investing process, a framework
• Institutional and individual biases related to value investing in practice

Part two continues on the base created and offers information on:

• Competitive advantage and strategic issues
• Defining a moat Understanding a defensible brand/moat
• The evaluation of growth in the context of value investing
• Identifying 'valuable' growth
• Comparing market value to intrinsic value

The last part builds on the previous knowledge and introduces:

• Risk management in the value process
• Value Investing; an international example
• Basic elements of value

For a complete program schedule download the agenda.

PARTICIPANT PROFILE & TESTIMONIALS

Value Investing is appropriate for executives at all levels who want to refine their understanding of value-based investing principles for professional and personal use.

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.

Typical Participant Mix

Hear from Past Participants:

Bruce Robertson

Bruce Robertson

Managing Director, JBWere

"This course is well worth the 20 hours of travel to get to New York from New Zealand."

Francisco Errandonea

Francisco Errandonea

Head of Equities, Santander Corredores de Bolsa

"In just three days, I learned more on valuation than a couple of years in university, plus more than a decade of work experience."

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Alexander Sharpe

Principal at Sharpe Consulting LLC

"The Value Investing class has resulted in my personal investments outperforming the market and has enabled me to better advise my clients in their business strategy."

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Sudeep Srikantaswamy

Director at o3securities

"A practical framework and process. Applicable at the workplace from day one."

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Maria Teresa Mata

Manduca Management

"Forget FCF or highly complex valuation methods. Value investing offers a simple method for looking at investments."

Bruce Robertson

Bruce Robertson

Managing Director, JBWere

Francisco Errandonea

Francisco Errandonea

Head of Equities, Santander Corredores de Bolsa

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Alexander Sharpe

Principal at Sharpe Consulting LLC

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Sudeep Srikantaswamy

Director at o3securities

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Maria Teresa Mata

Manduca Management

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.