Value Investing Order Printed Copy
- Author: Bruce C N Greenwald, Judd Kahn, Michael Van
- Size: 4.3MB | 332 pages
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About the Book
"Value Investing" by Bruce C. N. Greenwald, Judd Kahn, and Michael van Biema is a comprehensive guide to the principles and techniques of value investing. The authors explain how to identify undervalued stocks, evaluate company performance, and construct a diversified portfolio for long-term success. They also explore the importance of understanding the intrinsic value of investments and the role of research and analysis in making informed decisions. Overall, the book offers valuable insights and practical advice for investors looking to achieve sustainable returns in the stock market.
A. A. Allen
Born in Sulphur Rock, Arkansas, in 1911, he grew up with an alcoholic father and an unfaithful mother who lived with a series of men. âBy the time I was twenty-one,â recalled Allen, âI was a nervous wreck. I couldnât get a cigarette to my lip with one hand. . . . I was a confirmed drunkard.â (Lexie Allen, Godâs Man of Faith and Power, p57, 1954). Two years later he served a jail sentence for stealing corn in the midst of the depression and thought of himself as âan ex-jailbird drifting aimlessly through life.â It was at this point that Allen was converted in a âtongues speakingâ Methodist church in 1934 He met his wife, Lexie in Colorado and she became a powerful influence in shaping him for his future ministry.
Licensed by the Assemblies of God as a minister in 1936 began an effective evangelistic ministry at a small church in Colorado. After a two year pastorate he spent four-and-a-half years during World War II, as a full-time revivalist. He was the worship leader, musician and preacher but low finances and mediocre results took their toll on this father of four children. He left the itinerant ministry in 1947 when he was offered the security of a pastorate in a stable Assemblies of God church in Corpus Christi, Texas.
Soon after moving to Texas he heard news of the revival and read a copy of âThe Voice of Healingâ magazine which he found incredulous and labelled the revivalists âfanatics.â However, in 1949, he attended an Oral Roberts campaign in Dallas where he was enthralled by Robertsâ power over the audience and left convinced that the revival was from God
Back in Texas, when his church board refused to sponsor a radio program, he resigned and began conducting revivals again with the hope that he too might develop a major healing ministry. In, He sent his first report to The Voice of Healing in May 1950, from Oakland, California, âMany say this is the greatest Revival in the history of Oaklandâ in what was to become typical AAA style.
He said, âAlthough I do not claim to possess the gift of healing, hundreds are being miraculously healed in this meeting of every known disease. I do not claim to possess a single gift of the Spirit nor to have the power to impart any gift to others, yet in this meeting, as well as in other recent meetings, all the gifts of the Spirit are being received and exercised night after night. (The Voice of Healing May 1950)
Observing the burgeoning ministry of others he noticed that the evangelists who were drawing the largest crowds were doing so under canvas. In the summer of 1951 joined the ranks of the tent ministries giving a down payment and commitment to pay off the remaining amount as the ministry grew â and it did. He established his headquarters in Dallas and in 1953 launched the Allen Revival Hour on radio. He conducted overseas campaigns in Cuba and Mexico regularly, and by1955 was broadcasting on seventeen Latin American radio stations as well as eighteen American ones.
Allenâs sanguine personality expressed itself in his enthusiastic reports, unparalleled showmanship and startling miraculous claims. He was a persuasive preacher, with a compelling presence and unusual empathy and rapport with the common people. He preached an old-time Pentecostal message with consummate skill. His message of holiness resonated in the hearts of those reared in austere Pentecostalism.
His stage presence and theatrical approach endeared him to the economically deprived working class and also to black communities. Ever the showman he made religion enjoyable and church-going fun.
But, above all, it was the power of God which attracted the huge audiences over the years. Thousands were converted in the midst of dramatic public healings and deliverances from evil spirits. Nothing was âdone in a cornerâ but all was employed to support the message that Jesus was alive and interested in the needs of ordinary people.
A. A. Allen considered himself the most persecuted preacher in the world. The Assemblies of God were not happy with his apparently questionable, or at least exaggerated, claims. His readiness to publicly counter-attack his accusers brought a continual stream of criticism and alienation from mainline Pentecostals.
But the accusation that he drank abusively was the straw that broke the camelâs back. In the fall 1955, he was arrested for drunken driving while conducting a revival in Knoxville, Tennessee. The local press took the opportunity to attack and expose Allen and the beleaguered minister forfeited his bail rather than stand trial on the charge.
Whatever the truth was Allen called the incident an âunprecedented persecutionâ aimed at ruining his ministry. As always he employed even the worst accusations to reinforce his claims that his commitment to Godâs work in Godâs way was truly from heaven, despite the fact that the Devil continually tried to destroy his ministry. His Miracle Magazine published his defense:
Allen declares that all this is but a trick of the devil to try to kill his ministry and his influence among his friends at a time when God has granted him greater miracles in his ministry than ever before. . . . If ministers pay the price of real MIRACLES today, they will meet with greater persecution than ever before. The only way to escape such persecution is to fold up and quit! But we are going on! Will you go on with us? (Miracle Magazine October, 1955)
Gordon Lindsay felt that the Voice of Healing had to take âa strong stand on ethics.â Allen resigned from the group, pre-empting their imminent dismissal. He immediately began publishing his own magazine, and, although he affected a cordial relationship with his former colleagues in the Voice of Healing, feelings remained strained.
In some ways independence suited Allen. His daughter recalled:
The Knoxville event also led to Allenâs separation from the Assemblies of God. It was suggested that he âwithdraw from the public ministry until the matter at Knoxville be settled.â Allenâs response was to surrender his credentials as âa withdrawal from public ministry at this time would ruin my ministry, for it would have the appearance of an admission of guilt.â
By the mid-1950âs many of the more moderate ministers tried to continue to work with the Pentecostal denominations â or at least to remain friendly â but Allen repeatedly attacked organized religion and urged Pentecostal ministers to establish independent churches which would be free to support the revival. He charged that the Sunday school had replaced the altar in the Pentecostal churches and that few church members were filled with the Holy Ghost:
âRevivals are almost a thing of the past. Many pastors, and even evangelists, declare they will never try another one. They say it doesnât work. They are holding âSunday School Conventions,â âTeacher Training Courses,â and social gatherings. With few exceptions the churches today are leaning more and more toward dependence upon organizational strength, and natural ability, and denominational âmethods.â They no longer expect to get their increase through the old fashioned revival altar bench, or through the miracle working power of God, but rather through the Sunday School.â
In fall 1956, Allen announced the formation of the Miracle Revival Fellowship, an alternative fellowship intended to license independent ministers and to support missions. Theologically, the fellowship welcomed all who accepted âthe concept that Christ is the only essential doctrine.â Allen urged laymen as well as ministers to join his fellowship, through his âEvery Member an Exhorter plan.â Although Allen announced that âMRF is not interested in dividing churches,â he also disclosed that âthe purpose of this corporation shall be to encourage the establishing and the maintenance of independent local, sovereign, indigenous, autonomous churches.â The fellowship listed more than 500 ministers in its âfirst ordination
Interestingly, as other ministries were struggling and the revival was waning, Allenâs charisma and ministry skills coupled with well-staged revivals and an amazingly gifted team, enabled him to re-establish his ministry and rebuild a substantial and effective work.
Miracle Magazine was resounding success. At the end of a yearâs publication in 1956, it had a paid subscription of about 200,000,and, according to Mrs. Allen, was âthe fastest growing subscription magazine in the world today.â In 1957, Allen began conducting the International Miracle Revival Training Camp, an embryonic ministerial training centre. In 1958, he was given land in Arizona where he began building a permanent headquarters and training centre. At the height of the 1958 crisis in the revival, Allen announced a five-pronged program for his ministry: tent revivals, the Allen Revival Hour radio broadcast, an overseas mission program, the Miracle Valley Training Centre, and a âgreat number of dynamic books and faith inspiring tractsâ published by the ministry. In 1958, Allen purchased Jack Coeâs old tent and proudly announced that he was moving into the âlargest tent in the world.â His old-time revivalism, up-beat gospel music and anointed entertainers continued to attract the masses.
Allan died at the Jack Tar Hotel in San Francisco, California on June 11, 1970 at the age of 59. Some claim that Allen died an alcoholic because the coronerâs report concluded Allen died from liver failure brought on by acute alcoholism. Others know that he had battled with excruciating pain from severe arthritis in his knees, for over a year. It is true that Allen had undergone surgery on one of his knees and in June of 1970, was considering surgery on the other knee. They believe that the Coronerâs Report of âfatty infiltration of the liverâ was a result of the few times he used alcohol in his last days to alleviate the excruciating pain of his arthritis.
Whatever is true of his death the life of A. A. Allen was one of extraordinary commitment to Jesus Christ which brought victory over the enemy of mankind. A. A. Allen was a true survivor. Even though the revival was declining in the late 1950âs and 1960âs his commitment to old-time faith-healing campaigns ensured the continuing testimony of signs and wonders to the next generation. He may have had his personal âquirks and foiblesâ but the testimony of thousands of the blessing they received, the enduring love for God that resulted and the demonstration of the power of the Gospel are good reasons to give God thanks for such an amazing life!
Friend, You Can Be Ready to Die
Years ago I read somewhere that, during the Victorian era, people talked often about death, and sex was the taboo subject. By now we have flipped it. We talk freely about sex, and death is the taboo subject. To me, whatâs odd is this: even Christians  shy away from talking about death. For crying out loud, weâre going to heaven! Why should we fear anything ? Our Lord died and rose again â for us. Yes, the blunt truth can seem intimidating. Here it is: We donât need to go looking for it. Sooner or later, something bad will come find us and take us out. But why not accept that, and prepare for it, and rejoice our way through it? Thanks to the risen Jesus, death is no longer a crisis. It is now our release. So, Death, you sorry loser, we will outlive you by an eternity. We will even dance on your grave, when âdeath shall be no moreâ (Revelation 21:4). But for now, among the many ways to prepare for death â like buying life insurance, making a proper will, and so forth â here are two truths that can help you prevail when your moment comes. Both insights come from an obscure passage near the end of Deuteronomy. Your Final Obedience First, your death will be your final act of obedience in this world below. Near the end of his earthly life, Moses received a surprising command from God: Go up this mountain . . . and view the land of Canaan, which I am giving to the people of Israel for a possession. And die  on the mountain which you go up . . . (Deuteronomy 32:49â50) Moses obeyed the command, by Godâs grace. His death, therefore, was not his pathetic, crushing defeat; it was his final, climactic act of obedience. As you can see in the verse, it was even what we call a mountaintop experience. âYour death will be your final act of obedience in this world below.â Sadly, our deaths are usually painful and humiliating. But thatâs obvious. Down beneath the surface appearances, the profound reality is this: your death too will be an act of obedience, for you too are Godâs servant, like Moses. The Bible says about us all, â Precious  in the sight of the Lord is the death of his saintsâ (Psalm 116:15). He will not throw you away like a crumpled-up piece of trash. He will receive you as his treasured friend. Your death might be messy here on earth, but it will not be disgusting to God above. It will be, to him, âpreciousâ â that is, valued and honored. It will be you obeying the One who said, âFollow meâ (Matthew 4:19). You followed him with a first step, and you will follow him with a last step. And when youâre thinking about it, donât worry about failing him at that final moment. He who commands you will also carry you. Given the grandeur of a Christianâs death, I have to admit that I have never seen a Christian funeral do justice to the magnitude of the moment. We try, but our services fall short. Only by faith, looking beyond our poor efforts at doing honor, can we truly savor the wonder of a Christianâs crowning glory. Even still, letâs make every Christian funeral as meaningful as it can be by believing and declaring the truth. A blood-bought sinner has just stepped on Satanâs neck and leapt up into eternal happiness, by Godâs grace and for his glory. The day of your funeral, this uncomprehending world will stumble along in its oblivious way. But your believing family and friends will understand whatâs really going on. And they will rejoice. This being so, why not look forward to dying? Paul was so eager for his day of release, he honestly couldnât decide whether heâd rather keep serving Jesus here or die and go be with Jesus there: âWhat shall I choose? I do not know! I am torn between the twoâ (Philippians 1:22â23 NIV). When our work here is finally complete, why stay one moment longer? Of course, just as God decides our birthday (which we do know), so God also decides our deathday (which we do not know). Letâs bow to his schedule. But right now, by faith, letâs also start sitting on the edge of our seats in eager anticipation. And when he does give the command, âDie,â we then can say, âYes, Lord! At long last!â And we will  die. He will help us obey him even then â especially then. Your Happy Meeting Second, your death will be your happy meeting with the saints in that world above. Not only did God command Moses to die, but he also deepened and enriched Mosesâs expectations of his death: Die on the mountain which you go up, and be gathered to your people, as Aaron your brother died in Mount Hor and was gathered to his people. (Deuteronomy 32:50) To be with our Lord in heaven above is the ultimate human experience. But he himself includes in that sacred privilege âthe communion of saints,â to quote the Apostlesâ Creed. When you die, like Moses, you will be gathered to your people â all the believers in Jesus who have gone before you into the presence of God. Heaven will not be solitary you with Jesus alone. It will be you with countless others, surrounding his throne of grace, all of you glorifying and enjoying him together with explosive enthusiasm (Revelation 7:9â10). Right now, in this world, we are âthe church militant,â to use the traditional wording. But even now, we are one with âthe church triumphantâ above. And when we die, we finally enter into the full experience of the blood-bought communion of saints. Think about it. No church splits, no broken relationships, not even chilly aloofness. We all will be united before Christ in a celebration of his salvation too joyous for any petty smallness to sneak into our hearts. You will like  everyone there, and everyone there will like you too. You will be included. You will be understood. You will be safe. No one will kick you out, no one will bully you, no one will slander you â not in the presence of the King. And you will never again, even once, even a little, disappoint anyone else or hurt their feelings or let them down. You will be magnificent, like everyone around you, for Jesus will put his glory upon us all. Facing Death with Calm Confidence Even now, by Godâs grace, we have come to the heavenly Jerusalem, and to innumerable angels in festal gathering, and to the assembly of the firstborn who are enrolled in heaven, and to God, the judge of all, and to the spirits of the righteous made perfect, and to Jesus, the mediator of a new covenant. (Hebrews 12:22â24) âWhy should we, citizens of the heavenly city, ever fear anything about earthly death?â They all are there, right at this very moment, in the invisible realm. Itâs only an inch away. And the instant after your last breath in this dark world, you will awaken to that bright world above, where you will be welcomed in and rejoiced over. Saint Augustine might smile and nod with deep dignity. Martin Luther might give you a warm bear hug. Elisabeth Elliot might gently shake your hand. And maybe for the first time ever, youâll discover how good it feels to really belong . Hereâs my point. Why should we, citizens of the heavenly city, ever fear anything about earthly death? By faith in Godâs promises in the gospel, letâs get ready now  so that we face it then  with calm confidence â and even with bold defiance.