This is a multipart question, so please answer any parts that you are knowlegable of: 1. Can one of you recommend an indepth book that discusses valuations. I want the boring gritty stuff like how to value debt, assets, reading government filings etc. 2. Why do you often see stocks that trade at 80c a share but have 5 dollars a share in cash and 9 dollar book value. How can it trade so much lower than it's assets? Assume that the stock is expected to loose 50c this year. That still leaves it almost a decade to return to profitability. How can this be possible. 3. Finally, what is the difference between shares outstanding and float. How do shares outstanding become part of the float. What is the process involved in this. I have read yahoo's definitions, and they don't seem adequate.