Sense and Nonsense in Corporate Finance

by Ashik Shah on 1 December 1992

Louis Lowenstein was a professor of Finance and Law at Columbia. He was also a leading observer and critic of the world of finance in the 1980s and 1990s.

His Sense and Nonsense in Corporate Finance was hailed as “A bible for smart business leaders” by the eminent value investor Bill Ruane, Chairman of the Sequoia Fund.

In the book Lownenstein analysis, in a concise and refreshingly honest way, much of the fallacy and institutional errors in the financial services industry. While it is a little dated, I have found that it provides valuable lessons and case studies. A reader of this book will become well-versed in understanding how a company can sensibly manages its balance sheet, and the many errors therein.

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