Foreword
A SMALL FRACTION of cohorts who lived through the age of the Nifty 50 still tackle important problems. We don’t know that the torch has been passed, as an earlier president reminded us. We forgo shuffleboard and leisure suits for writing and mounting platforms on issues that we believe to be important—where we can bring our personal experiences to bear and where our voices will remind others that we bring personal history, energy, and foresight to vexing problems. Bob Monks is the archetype of the group.
We will get to his capabilities shortly, but let us first examine Bob’s courage to tackle a really big topic: the valuation of securities. It is as big a subject as they come, running in multidimensions from qualitative to psychological, ...

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