G. Bennett Stewart

The "boring" technical stuff is very educational. However, two aspects are very bothersome: first of all, the book is preachy and almost makes you think the best way to produce value is by leveraging the company to the hilt. Although the author seem to be a big fan of traditional efficient-market theories, he to turns the leverage argument into a "make the management efficient by scrambling for cash flow", and also talks of the "lead steers" that lead the market herds. Secondly, the attempt to turn EVA into a revolutionary idea is simply monumental, and - to a finance professional - unwarranted as well as out of context historically. Simply put, it is an old idea repackaged in a new way; perhaps, and with good marketing, it might be easier to sell than the traditional ideas.… (mais)