John Burr Williams

John Burr Williams was an American economist and author best known for his pioneering work in finance and investment theory. His influential book, "The Theory of Investment Value," published in 1938, introduced the concept of intrinsic value, which assesses a stock's worth based on its expected future cash flows. Williams emphasized that investors should focus on the underlying economic realities of a company rather than market fluctuations. His work laid the foundation for modern valuation methods, bridging the gap between finance and economics, and has significantly influenced investment strategies and portfolio management practices.