2As you read the following pages, please refer to the sample report on Johnson & Johnson thatappears on page 21 of this workbook. The report is dated March 4, 2005. You can find the datein the lower right hand corner next to the analyst’s name. You will be asked to answer questionsor complete statements. Whenever you see a blank line, please fill it in. Each blank line has anotation that corresponds to the correct responses shown at the end, on page 22. To analyze yourperformance, go to page 23. You may need a calculator to find some of the answers.In each Value Linereport there are a number of particularly important items, all explained inmore detail below. These include the Timeliness, Safety, and Technical ranks (item 2 on page21)in the upper left hand corner of each page; the large stock price chart at the top of thepage (item 13); recent stock price and financial forecasts(items 12, 16, and 30) in severalplaces; balance sheet andincome statement data(items 16 and 27) in the center; quarterlydata(items 22 and23) in the lower left; and the analyst’s written commentary(item 18) inthe lower right. There is a great deal of other information as well.To learn more about The Value Line Investment Survey, we recommend that you read the intro-ductory material that is provided to all new subscribers.This workbook has been designed primarily to help novice andintermediate investors understand the Value Line approachto evaluating companies. It contains information thatValue Line thinks is most important for learningthe investment process.WORKBOOKThe Value Line Investment Survey
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4The Questions Start Here. Good Luck!Across the top of the page are: the company’s name (item 1 in the report onJohnson & Johnson that appears on page 21 of this workbook),followed bythe stock exchange on which the stock is traded - usually the New York StockExchange (NYSE), American Stock Exchange (ASE), or NASDAQ (NDQ), andthe ticker symbol, usually two to four letters used to identify a stock for tradingpurposes. Next comes the recent stock price (item 6).1.
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