11 LECTURE 2—INGREDIENTS OF MARKETS AND VALUE (January 29, 1993)

Chapters in this book

1. Frontmatter i
2. CONTENTS vii
3. FOREWORD ix
4. A PERSONAL TRIBUTE TO PROFESSOR ROGER MURRAY xiii
5. PREFACE xvii
6. ACKNOWLEDGMENTS xxi
7. INTRODUCTION 1
8. PART ONE. BIOGRAPHY
9. 1 MURRAY’S FIRST CAREER Bankers Trust (1932–1955) 13
10. 2 MURRAY’S SECOND CAREER Influential Economist (1950–1998) 15
11. 3 MURRAY’S THIRD CAREER Beloved and Respected Business School Professor (1956–1978) 17
12. 4 MURRAY’S FOURTH CAREER Fund Manager (1965–1970) 35
13. 5 MURRAY’S ROLE IN THE FORMATION OF THE PRIVATE PENSION INDUSTRY (1950–1980) 40
14. 6 THE FIFTH EDITION OF SECURITIES ANALYSIS (1988) 48
15. 7 REBIRTH OF VALUE INVESTING AT COLUMBIA BUSINESS SCHOOL (1993) 52
16. 8 RECOGNITION AND AWARDS (1999 TO THE PRESENT) 61
17. 9 THE “NEW” ROGER MURRAY LECTURE SERIES (2000) 69
18. PART TWO. MUSEUM OF TELEVISION AND RADIO LECTURES
19. 10 LECTURE 1—VALUE VERSUS PRICE (January 22, 1993) 77
20. 11 LECTURE 2—INGREDIENTS OF MARKETS AND VALUE (January 29, 1993) 104
21. 12 LECTURE 3—EQUITY PRICING AND CAPITALIZATION RATES (February 5, 1993) 122
22. 13 LECTURE 4—CONVERGENCE OF PRICE AND VALUE (February 12, 1993) 143
23. PART THREE. INTERVIEW
24. 14 FULL INTERVIEW WITH PETER J. TANOUS (1996) 165
25. BIBLIOGRAPHY OF ROGER MURRAY’S PUBLICATIONS 185
26. NOTES 187