Webinar with Michael Mauboussin. Most investment books try to assess the attractiveness of a stock price by estimating the value of the company. Expectations Investing, by Michael Mauboussin and Alfred Rappaport, provides a powerful and insightful alternative to identifying gaps between price and value. The authors suggest that an investor start with a known quantity, the stock price, and ask what it implies for future financial results. After showing how to read expectations, they provide a guide to rigorous strategic and financial analysis to help investors assess the likelihood of revisions to these expectations. Investors who read this book will be able to evaluate stocks of companies in any sector or geography more effectively than those who use the standard approaches of most investors.