--- title: "Meaning & Key Takeaway of: Use book value as a starting point to try…" description: "\"Use book value as a starting point to try and establish the value of the enterprise.\" — Walter Schloss" image: "https://sms4smile.com/quotes/i/cf2/walter-schloss-7650_book_use-book-value-as-a-starting-point-to-tr_1371171.png" --- # Use book value as a starting point to try and establish… ![“Use book value as a starting point to try and establish the value of the enterprise.” quote by Walter Schloss](https://sms4smile.com/quotes/i/cf2/walter-schloss-7650_book_use-book-value-as-a-starting-point-to-tr_1371171.png) [Download](https://sms4smile.com/quotes/i/cf2/walter-schloss-7650_book_use-book-value-as-a-starting-point-to-tr_1371171.png) [Open image](https://sms4smile.com/quotes/i/cf2/walter-schloss-7650_book_use-book-value-as-a-starting-point-to-tr_1371171.png) > “Use book value as a starting point to try and establish the value of the enterprise.” [Walter Schloss](https://sms4smile.com/quotes/author/walter-schloss/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Advocates using book value as a baseline for enterprise valuation, emphasizing fundamentals. **In simple terms:** Start valuation with book value. Key Takeaway Ground analysis in fundamentals. Themes finance valuation investment Mood analytical practical Type financial educational When to use this quote - financial modeling - investment decisions - portfolio management Key Concepts balance sheet analysis fundamental analysis stock appraisal Questions to Reflect On - How reliable is book value across industries? - What other metrics complement it? A Different Perspective May overlook intangible assets. ★ ★ ★ ★ ★ No ratings yet [Book](https://sms4smile.com/quotes/about/book/) [Books](https://sms4smile.com/quotes/about/books/) [Business](https://sms4smile.com/quotes/about/business/) [Enterprise](https://sms4smile.com/quotes/about/enterprise/) [Investing](https://sms4smile.com/quotes/about/investing/) [Starting point](https://sms4smile.com/quotes/about/starting-point/) [Values](https://sms4smile.com/quotes/about/values/) ## Related quotes > [Try to establish the value of a company.](https://sms4smile.com/quotes/walter-schloss/try-to-establish-the-value-of-a-company/) [Walter Schloss](https://sms4smile.com/quotes/author/walter-schloss/) > [Before selling, try to re-evaluate the company again and see where the stock sells in realtion to its book value.](https://sms4smile.com/quotes/walter-schloss/before-selling-try-to-re-evaluate-the-company-again-and-see-where-the/) [Walter Schloss](https://sms4smile.com/quotes/author/walter-schloss/) > [Business isn't some disembodied bloodless enterprise. Profit is fine - a sign that the customer honors the value of what we do. But "enterprise"…](https://sms4smile.com/quotes/tom-peters/business-isn-t-some-disembodied-bloodless-enterprise-profit-is-fine-a/) [Tom Peters](https://sms4smile.com/quotes/author/tom-peters/) > [No book, no matter how good, has a chance of reaching a large audience unless the publisher SEES the book's value.](https://sms4smile.com/quotes/richard-laymon/no-book-no-matter-how-good-has-a-chance-of-reaching-a-large-audience/) [Richard Laymon](https://sms4smile.com/quotes/author/richard-laymon/) > [In other words, the percentage change in book value in any given year is likely to be reasonably close to that year's change in…](https://sms4smile.com/quotes/warren-buffett/in-other-words-the-percentage-change-in-book-value-in-any-given-year/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [“pictures or conversations in it, ‘and what is the use of a book,”](https://sms4smile.com/quotes/anonymous/pictures-or-conversations-in-it-and-what-is-the-use-of-a-book/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [“What is the use of a book without pictures or conversations? -Alice in Wonderland”](https://sms4smile.com/quotes/lewis-carroll/what-is-the-use-of-a-book-without-pictures-or-conversations-alice-in/) [Lewis Carroll](https://sms4smile.com/quotes/author/lewis-carroll/) > [“When you start writing, you may think you will use the book to guide readers down certain paths and through certain themes. But, the…](https://sms4smile.com/quotes/m-d-cliatt/when-you-start-writing-you-may-think-you-will-use-the-book-to-guide/) M.D. Cliatt > ['What is the use of a book', thought Alice, 'without pictures or conversations?'](https://sms4smile.com/quotes/lewis-carroll/what-is-the-use-of-a-book-thought-alice-without-pictures-or/) [Lewis Carroll](https://sms4smile.com/quotes/author/lewis-carroll/) > [What is the use of a book, without pictures or conversations? -Alice](https://sms4smile.com/quotes/alice-in-wonderland/what-is-the-use-of-a-book-without-pictures-or-conversations-alice/) [Alice In Wonderland](https://sms4smile.com/quotes/author/alice-in-wonderland/) > [What I do usually is read the book first, for pleasure, to see if my brain starts connecting with it, as a movie. And…](https://sms4smile.com/quotes/richard-lagravenese/what-i-do-usually-is-read-the-book-first-for-pleasure-to-see-if-my/) [Richard LaGravenese](https://sms4smile.com/quotes/author/richard-lagravenese/) > [A writer is always observant, of course... You can take the kernel of something - part of it - and use it in a…](https://sms4smile.com/quotes/carol-higgins-clark/a-writer-is-always-observant-of-course-you-can-take-the-kernel-of/) [Carol Higgins Clark](https://sms4smile.com/quotes/author/carol-higgins-clark/) > [“Rock is a commercially made mass music and this must be the starting point for its celebration as well as for its dismissal.”](https://sms4smile.com/quotes/simon-frith/rock-is-a-commercially-made-mass-music-and-this-must-be-the-starting/) Simon Frith > [“As we look over the list of the early leaders of the republic, Washington, John Adams, Hamilton, and others, we discern that they were…](https://sms4smile.com/quotes/james-truslow-adams/as-we-look-over-the-list-of-the-early-leaders-of-the-republic/) [James Truslow Adams](https://sms4smile.com/quotes/author/james-truslow-adams/) > [When I wrote my fictional novels, they always had a starting point of something real. Those images that are not real are exactly the…](https://sms4smile.com/quotes/karl-ove-knausgard/when-i-wrote-my-fictional-novels-they-always-had-a-starting-point-of/) [Karl Ove Knausgard](https://sms4smile.com/quotes/author/karl-ove-knausgard/) ## More by Walter Schloss > [You have to have patience in this field.](https://sms4smile.com/quotes/walter-schloss/you-have-to-have-patience-in-this-field/) [Walter Schloss](https://sms4smile.com/quotes/author/walter-schloss/) > [Try to buy assets at a discount than to buy earnings.](https://sms4smile.com/quotes/walter-schloss/try-to-buy-assets-at-a-discount-than-to-buy-earnings/) [Walter Schloss](https://sms4smile.com/quotes/author/walter-schloss/) > [If the market were way over priced, I wouldn't own any stocks.](https://sms4smile.com/quotes/walter-schloss/if-the-market-were-way-over-priced-i-wouldn-t-own-any-stocks/) [Walter Schloss](https://sms4smile.com/quotes/author/walter-schloss/) > [Fear and greed tend to affect one's judgement.](https://sms4smile.com/quotes/walter-schloss/fear-and-greed-tend-to-affect-one-s-judgement/) [Walter Schloss](https://sms4smile.com/quotes/author/walter-schloss/) > [I helped Ben with the third edition of Security Analysis, published in 1951.](https://sms4smile.com/quotes/walter-schloss/i-helped-ben-with-the-third-edition-of-security-analysis-published-in/) [Walter Schloss](https://sms4smile.com/quotes/author/walter-schloss/) > [If there are not too many value stocks that I can find, the market isn't all that cheap.](https://sms4smile.com/quotes/walter-schloss/if-there-are-not-too-many-value-stocks-that-i-can-find-the-market-isn/) [Walter Schloss](https://sms4smile.com/quotes/author/walter-schloss/) > [Graham liked the idea of protection on the downside.](https://sms4smile.com/quotes/walter-schloss/graham-liked-the-idea-of-protection-on-the-downside/) [Walter Schloss](https://sms4smile.com/quotes/author/walter-schloss/) > [We may buy a little bit of a stock, to get our feet wet and get a feeling for it.](https://sms4smile.com/quotes/walter-schloss/we-may-buy-a-little-bit-of-a-stock-to-get-our-feet-wet-and-get-a/) [Walter Schloss](https://sms4smile.com/quotes/author/walter-schloss/) > [Each year we buy stocks and they go up, we sell them and then we try to buy something cheaper.](https://sms4smile.com/quotes/walter-schloss/each-year-we-buy-stocks-and-they-go-up-we-sell-them-and-then-we-try/) [Walter Schloss](https://sms4smile.com/quotes/author/walter-schloss/) > [When you buy a depressed company it's not going to go up right after you buy it, believe me.](https://sms4smile.com/quotes/walter-schloss/when-you-buy-a-depressed-company-it-s-not-going-to-go-up-right-after/) [Walter Schloss](https://sms4smile.com/quotes/author/walter-schloss/) > [Earnings can change dramatically. Usually assets change slowly.](https://sms4smile.com/quotes/walter-schloss/earnings-can-change-dramatically-usually-assets-change-slowly/) [Walter Schloss](https://sms4smile.com/quotes/author/walter-schloss/) > [Look for companies that do not have a lot of debt.](https://sms4smile.com/quotes/walter-schloss/look-for-companies-that-do-not-have-a-lot-of-debt/) [Walter Schloss](https://sms4smile.com/quotes/author/walter-schloss/) > [Ben's emphasis was on protecting his expectation of profit with minimum risk.](https://sms4smile.com/quotes/walter-schloss/ben-s-emphasis-was-on-protecting-his-expectation-of-profit-with/) [Walter Schloss](https://sms4smile.com/quotes/author/walter-schloss/) > [Buy stocks where the outlook is not good.](https://sms4smile.com/quotes/walter-schloss/buy-stocks-where-the-outlook-is-not-good/) [Walter Schloss](https://sms4smile.com/quotes/author/walter-schloss/) > [A lot of companies have lots of assets tied up in plant and equipment. Well, is it old plant, or is it new plant?](https://sms4smile.com/quotes/walter-schloss/a-lot-of-companies-have-lots-of-assets-tied-up-in-plant-and-equipment/) [Walter Schloss](https://sms4smile.com/quotes/author/walter-schloss/) [Explore all 89 Walter Schloss quotes ](https://sms4smile.com/quotes/author/walter-schloss/) ## More Book quotes > [I think a new world will arise out of the religious mists when we approach our Bible with the idea that it is not…](https://sms4smile.com/quotes/aiden-wilson-tozer/i-think-a-new-world-will-arise-out-of-the-religious-mists-when-we/) [Aiden Wilson Tozer](https://sms4smile.com/quotes/author/aiden-wilson-tozer/) > [If I had a dollar for every time I couldn’t sleep, I could buy a billion locks and finally read a book in peace.](https://sms4smile.com/quotes/aesop-rock/if-i-had-a-dollar-for-every-time-i-couldn-t-sleep-i-could-buy-a/) [Aesop Rock](https://sms4smile.com/quotes/author/aesop-rock/) > [Young men, especially in America, write to me and ask me to recommend “a course of reading.” Distrust a course of reading! 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I should have written more books.](https://sms4smile.com/quotes/arthur-m-schlesinger-jr/i-don-t-think-i-have-made-as-much-of-my-life-as-i-should-have-i/) [Arthur M. Schlesinger, Jr](https://sms4smile.com/quotes/author/arthur-m-schlesinger-jr/) > [Some books are not read in the right way because they have skipped a stage of opinion, assume a crystallization of information in society…](https://sms4smile.com/quotes/doris-lessing/some-books-are-not-read-in-the-right-way-because-they-have-skipped-a/) [Doris Lessing](https://sms4smile.com/quotes/author/doris-lessing/) > [“People talk about books that write themselves, and it's a lie. Books don't write themselves. It takes thought and research and a backache and…](https://sms4smile.com/quotes/neil-gaiman/people-talk-about-books-that-write-themselves-and-it-s-a-lie-books/) [Neil Gaiman](https://sms4smile.com/quotes/author/neil-gaiman/) > [There are great books in this world and great worlds in books.](https://sms4smile.com/quotes/anne-bronte/there-are-great-books-in-this-world-and-great-worlds-in-books/) [Anne Bronte](https://sms4smile.com/quotes/author/anne-bronte/) > [The purpose of this book is to supply, in the form suitable for laymen, guidance in the adoption and execution of an investment policy.](https://sms4smile.com/quotes/benjamin-graham/the-purpose-of-this-book-is-to-supply-in-the-form-suitable-for-laymen/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [But I think that of all the literature that I studied, the book that did more than any other to fire my enthusiasm was…](https://sms4smile.com/quotes/kwame-nkrumah/but-i-think-that-of-all-the-literature-that-i-studied-the-book-that/) [Kwame Nkrumah](https://sms4smile.com/quotes/author/kwame-nkrumah/) > [It's amazing to see things that are suggested in the book fully developed and so brilliantly realized through the artistry of the designers.](https://sms4smile.com/quotes/suzanne-collins/it-s-amazing-to-see-things-that-are-suggested-in-the-book-fully/) [Suzanne Collins](https://sms4smile.com/quotes/author/suzanne-collins/) > [“But I’ve developed a great reputation for wisdom by ordering more books than I ever had time to read, and reading more books, by…](https://sms4smile.com/quotes/marilynne-robinson/but-i-ve-developed-a-great-reputation-for-wisdom-by-ordering-more/) [Marilynne Robinson](https://sms4smile.com/quotes/author/marilynne-robinson/) [Browse all 29,378 Book quotes ](https://sms4smile.com/quotes/about/book/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "Use book value as a starting point to try and establish the value of the enterprise.", "creator": { "@type": "Person", "name": "Walter Schloss" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/walter-schloss/use-book-value-as-a-starting-point-to-try-and-establish-the-value-of/", "about": { "@type": "Thing", "name": "Book" }, "@id": "https://sms4smile.com/quotes/walter-schloss/use-book-value-as-a-starting-point-to-try-and-establish-the-value-of/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/cf2/walter-schloss-7650_book_use-book-value-as-a-starting-point-to-tr_1371171.png", "contentUrl": "https://sms4smile.com/quotes/i/cf2/walter-schloss-7650_book_use-book-value-as-a-starting-point-to-tr_1371171.png", "url": "https://sms4smile.com/quotes/i/cf2/walter-schloss-7650_book_use-book-value-as-a-starting-point-to-tr_1371171.png", "width": 1080, "height": 1080, "caption": "“Use book value as a starting point to try and establish the value of the enterprise.” — Walter Schloss", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "Walter Schloss", "item": "https://sms4smile.com/quotes/author/walter-schloss/" }, { "@type": "ListItem", "position": 4, "name": "Use book value as a starting...", "item": "https://sms4smile.com/quotes/walter-schloss/use-book-value-as-a-starting-point-to-try-and-establish-the-value-of/" } ], "@id": "https://sms4smile.com/quotes/walter-schloss/use-book-value-as-a-starting-point-to-try-and-establish-the-value-of/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```