[[Actuarial Notes Wiki|Wiki]] / [[Actuarial Methods]] / ==Investment== > **Investment** is the commitment of resources into something expected to gain value over time. > - [Investment](https://en.wikipedia.org/wiki/Investment) - Wikipedia ## Determining Value **Valuation** is the process of determining the value, or price of an asset. There are two broad approaches to valuation, which assess value over different time scales. | Approach | Description | | ------------------------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | [[Fundamental Analysis]] | Assess the intrinsic value of assets over the long term, based on their ability to generate future value. A fundamtental approach is [[Discounted Cash Flow (DCF)]] analysis. | | [[Technical Analysis]] | Value assets over a short time period, like weeks, days or seconds, based on changes in price from new information. | ## Further Reading 1. 📄 [The Theory of Investment Value (PDF, 648 Pages)](https://archive.org/details/in.ernet.dli.2015.225177) - Williams, 1938 2. 📕 [A Random Walk Down Wall Street](https://www.amazon.ca/Random-Walk-Down-Wall-Street/dp/0393358380) - Malkiel, 1973