Author: NY Times Pocket MBA Series
Narrator: Grover Gardner
Format: Digital Download
Length: 2 Hours
Available for download on
Learn the 25 keys to selecting and managing outside investment, through mergers, acquisitions and project-specific financing, as well as R&D internal investment, for long-term growth and expansion:
Key 1. Sound strategy + Timely investment = Shareholder value.
Key 2. Cash flow counts.
Key 3. A dollar today is worth more than a dollar tomorrow.
Key 4. Follow the net present value rule.
Key 5. N.P.V. = Incremental Shareholder Wealth.
Key 6. See your risk as your shareholders see it.
Key 7. Know your cost of capital.
Key 8. The cost of capital is project-specific.
Key 9. Estimate incremental cash flow effects.
Key 10. Donít forget additional investment in working capital, plant and equipment.
Key 11. Donít forget terminal value (but donít overestimate it, either).
Key 12. Include project tax consequences.
Key 13. Inflation: be consistent between cash flows and discount rates.
Key 14. Overseas investment: incorporating exchange rates.
Key 15. Watch out for project options.
Key 16. Know how and when to make replacement investments.
Key 17. Understand the value of R&D.
Key 18. Know where positive N.P.V.s come from.
Key 19. Watch out for biased forecasts.
Key 20. Perform sensitivity analysis.
Key 21. Continue to monitor projects after approval.
Key 22. Arrange financing with an eye toward future investment opportunities.
Key 23. Be alert for project-specific financing opportunities.
Key 24. Mergers: understand incremental benefits.
Key 25. Mergers for stock: know how much you are paying.
Managing Investment is part of The New York Times Pocket MBA Series, a reference series easily accessible to all businesspersons, from first-level managers to the executive suite. The 12-volume series is written by Ph.D.s who teach in the finest graduate business programs in the country, and edited by business editors from The New York Times. The structure of each volume presents an unparalleled synopsis of crucial principles of specific areas of business expertise.
Robert Taggart, Ph.D. is a Professor of Finance at the Wallace E. Carroll School of Management at Boston College. He has served as President of the Financial Management Association and is currently the Corporate Finance Editor of the Journal of Economics and Business. Dr. Taggart is also the author of Quantitative Analysis for Investment Management as well as numerous articles in finance and economics journals.
Grover Gardner has recorded over 450 audiobooks and was named one of Audiofile Magazine's Golden Voices of 1999. He is a member of the Woolly Mammoth Theater Company, Resident Director at Everyman Theater in Baltimore and has received 5 Helen Hayes Award nominations of his work.
"Brings important business principles as close as your headphones."
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