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| Acknowledgments | |
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| Introduction: Value Matters | |
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| The Mind of the Value Investor | |
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| The Essence of Value Investing | |
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| The Seven Fundamental Beliefs | |
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| The Five Keys of Value Framework | |
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| Putting It All Together: Revisiting Varian Associates | |
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| Business and Industry Assessment | |
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| Buying Businesses Versus Speculating on Stocks | |
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| Understanding the Business | |
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| Three Approaches to Analyzing a Business | |
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| Business-Quality Red Flags | |
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| Assessing Management | |
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| Assessing a Business: Herman Miller, Inc. | |
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| Price and Value Assessment | |
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| To Appreciate Price Is to Understand Value | |
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| Assessing Value: Tools to Consider | |
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| Valuing Herman Miller | |
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| Catalyst Identification and Effectiveness | |
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| Catalyst Defined | |
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| Potential Catalysts | |
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| Management Unlocking Value At Thermo Electron Corporation | |
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| The "Margin of Safety" Principle | |
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| What Is Margin of Safety? | |
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| Quantitative and Qualitative Reasoning | |
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| Risk and Uncertainty | |
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| Maytag Corporation: Finding a Safety Level | |
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| Assessing the Investment Opportunity | |
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| Value Investing and the Game of Golf | |
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| Identifying the Opportunity | |
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| Applying the Five Keys of Value to Fit the Opportunity | |
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| Cyclical Companies | |
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| Hybrid Opportunities | |
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| Avoiding Value Traps | |
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| Buying Right and Being an Owner | |
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| Ownership Is a Verb When Monitoring Your Investments | |
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| Buy and Hold, But Not Forever | |
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| Generating Value Ideas and Building an Independent Portfolio | |
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| Generating Value Investment Ideas: Turning Over Every Stone | |
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| Building Your Portfolio | |
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| Business Assessment Tools | |
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| Analyzing Wall Street Analysts' Recommendations | |
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| The Critical Failings of EBITDA | |
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| Management's Plan to Restructure a Company | |
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| Descriptions of SEC Forms | |
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| Index | |