Valuing and Investing in Equities

Valuing and Investing in Equities
Author: Francesco Curto
Publsiher: Academic Press
Total Pages: 250
Release: 2020-03
ISBN 10: 0128138483
ISBN 13: 9780128138489
Language: EN, FR, DE, ES & NL

Valuing and Investing in Equities Book Review:

Valuing and Investing in Equities: CROCI: Cash Return on Capital Investment develops a common-sense framework for value investors. By distinguishing investors from speculators, it acknowledges the variety of styles and goals in the financial markets. After explaining the intuition behind due diligence, portfolio construction, and stock picking, it shows the reader how to perform these steps and how to evaluate their results. Francesco Curto illuminates the costs and opportunities afforded by valuation strategies, inflation, and bubbles, emphasizing their effects on each other within the CROCI framework. Balancing analytics with an engaging clarity, the book neatly describes a comprehensive, time-tested approach to investing. Annual returns from this investment approach demand everyone's attention. - Describes the Cash Return on Capital Invested (CROCI) methodology - Provides a step by step approach in building investment strategies - Presents 25 years of insights from CROCI's valuation and investment results

Valuation of Unlisted Direct Investment Equity

Valuation of Unlisted Direct Investment Equity
Author: Emmanuel O. Kumah,Jannick Damgaard,Thomas Elkjaer
Publsiher: International Monetary Fund
Total Pages: 72
Release: 2009-11-01
ISBN 10: 1451873891
ISBN 13: 9781451873894
Language: EN, FR, DE, ES & NL

Valuation of Unlisted Direct Investment Equity Book Review:

This paper analyzes the seven valuation methods for unlisted direct investment equity included in the recently adopted IMF Balance of Payments and International Investment Position Manual, Sixth Edition (BPM6). Based on publicly available Danish data, we test the three methods that are generally applicable and find that the choice of valuation method and estimation technique can have a highly significant impact on the international investment position, pointing to the need for further harmonization. The results show that the price-to-book value method generates more robust market value estimates than the price-to-earnings method. This finding suggests that the valuation basis for the forthcoming Coordinated Direct Investment Survey - own funds at book value -will provide useful information for compiling the international investment position.

Equity Valuation Science Art or Craft

Equity Valuation  Science  Art  or Craft
Author: Frank J. Fabozzi,Sergio M. Focardi,Caroline Jonas
Publsiher: CFA Institute Research Foundation
Total Pages: 136
Release: 2017-12-27
ISBN 10: 1944960341
ISBN 13: 9781944960346
Language: EN, FR, DE, ES & NL

Equity Valuation Science Art or Craft Book Review:

The price at which a stock is traded in the market reflects the ability of the firm to generate cash flow and the risks associated with generating the expected future cash flows. The authors point to the limits of widely used valuation techniques. The most important of these limits is the inability to forecast cash flows and to determine the appropriate discount rate. Another important limit is the inability to determine absolute value. Widely used valuation techniques such as market multiples - the price-to-earnings ratio, firm value multiples or a use of multiple ratios, for example - capture only relative value, that is, the value of a firm's stocks related to the value of comparable firms (assuming that comparable firms can be identified). The study underlines additional problems when it comes to valuing IPOs and private equity: Both are sensitive to the timing of the offer, suffer from information asymmetry, and are more subject to behavioral elements than is the case for shares of listed firms. In the case of IPOs in particular, the authors discuss how communication strategies and media hype play an important role in the IPO valuation/pricing process.

Valuing and Investing in Equities

Valuing and Investing in Equities
Author: Francesco Curto
Publsiher: Academic Press
Total Pages: 228
Release: 2020-04-22
ISBN 10: 0128138491
ISBN 13: 9780128138496
Language: EN, FR, DE, ES & NL

Valuing and Investing in Equities Book Review:

Valuing and Investing in Equities: CROCI: Cash Return on Capital Investment develops a common-sense framework for value investors. By distinguishing investors from speculators, it acknowledges the variety of styles and goals in the financial markets. After explaining the intuition behind due diligence, portfolio construction, and stock picking, it shows the reader how to perform these steps and how to evaluate their results. Francesco Curto illuminates the costs and opportunities afforded by valuation strategies, inflation, and bubbles, emphasizing their effects on each other within the CROCI framework. Balancing analytics with an engaging clarity, the book neatly describes a comprehensive, time-tested approach to investing. Annual returns from this investment approach demand everyone’s attention. Describes the Cash Return on Capital Invested (CROCI) methodology Provides a step by step approach in building investment strategies Presents 25 years of insights from CROCI’s valuation and investment results

The Little Book of Value Investing

The Little Book of Value Investing
Author: Christopher H. Browne
Publsiher: John Wiley & Sons
Total Pages: 208
Release: 2016-05-03
ISBN 10: 0470105496
ISBN 13: 9780470105498
Language: EN, FR, DE, ES & NL

The Little Book of Value Investing Book Review:

There are many ways to make money in today’s market, but the one strategy that has truly proven itself over the years is value investing. Now, with The Little Book of Value Investing, Christopher Browne shows you how to use this wealth-building strategy to successfully buy bargain stocks around the world.

New Principles of Equity Investment

New Principles of Equity Investment
Author: Les Coleman
Publsiher: Emerald Group Publishing
Total Pages: 280
Release: 2019-03-14
ISBN 10: 1789730651
ISBN 13: 9781789730654
Language: EN, FR, DE, ES & NL

New Principles of Equity Investment Book Review:

The book aligns the best of established theory, empirical evidence and industry practice to operationalise equity investment and match it to practices in the real world. It does not merely repackage the contemporary investment paradigm, but develops a new perspective that follows a rigorous research philosophy and is based on field evidence.

Fixed Coupon Note High Returns And Low Risk

Fixed Coupon Note  High Returns And Low Risk
Author: Rajiv Aggarwal
Publsiher: World Scientific
Total Pages: 172
Release: 2020-11-13
ISBN 10: 9811225052
ISBN 13: 9789811225055
Language: EN, FR, DE, ES & NL

Fixed Coupon Note High Returns And Low Risk Book Review:

Equities are generally perceived to be more volatile than fixed income investments. Many risk averse investors are unable to digest the daily ups and downs in the prices of equities. They also feel that, from a historical perspective, equities are overpriced and thus are not comfortable taking equity positions at current valuations.On the other hand, global interest rates have been on a decline from the 1970s when inflation was finally under control by central banks. This decline in interest rates means that investors have to live with lower nominal returns. Since the Global Financial Crisis of 2008, many investors have been feeling left out of the equity markets.Fixed Coupon Notes (FCNs) are quasi-equity and quasi-bond structures which aim to provide higher returns than bonds with lower risks compared to equities. Moreover, they also provide an avenue to enter equities at reasonable prices and acceptable valuations. Being the most popular structured product in Asia, there is sufficient institutional experience about the product. This book aims to provide the basics as well as the nuances of investing in FCNs so that an investor not only understands the concepts behind the product, but is also able to avoid common pitfalls.

The Banking Industry Guide Key Insights for Investment Professionals

The Banking Industry Guide  Key Insights for Investment Professionals
Author: Ryan C. Fuhrmann
Publsiher: CFA Institute
Total Pages: 60
Release: 2022
ISBN 10: 1942713428
ISBN 13: 9781942713425
Language: EN, FR, DE, ES & NL

The Banking Industry Guide Key Insights for Investment Professionals Book Review:

Expectations Investing

Expectations Investing
Author: Alfred Rappaport,Michael J. Mauboussin,Peter L. Bernstein
Publsiher: Harvard Business Press
Total Pages: 224
Release: 2003-02-01
ISBN 10: 159139127X
ISBN 13: 9781591391272
Language: EN, FR, DE, ES & NL

Expectations Investing Book Review:

Expectations Investing is well worth picking up. -Financial Executive Expectations Investing offers a fundamentally new alternative for identifying value-price gaps, built around a deceptively simple and obvious tool: a company's stock price. The authors walk readers step-by-step through their breakthrough method, revealing how portfolio managers, security analysts, investment advisors, and individual investors can more accurately evaluate established and "new economy" stocks alike-and translate shareholder value from theory to reality. AUTHORBIO: Alfred Rappaport directs Shareholder Value Research for L.E.K. Consulting and is a Professor Emeritus at Northwestern's Kellogg School. Michael J. Mauboussin is Credit Suisse First Boston's Chief U.S. Investment Strategist and an adjunct professor at Columbia University.

Investing in Equities and Assets that Create Wealth

Investing in Equities and Assets that Create Wealth
Author: Anubha Singhania ,Yogesh Chabria
Publsiher: NETWORK 18 PUBLICATIONS LTD
Total Pages: 136
Release: 2013-05-01
ISBN 10: 9384061050
ISBN 13: 9789384061050
Language: EN, FR, DE, ES & NL

Investing in Equities and Assets that Create Wealth Book Review:

The art of investing in stocks lies in picking great companies not in predicting markets. Investing is not difficult to learn, but it does take some effort to master. But once mastered, it is most rewarding. Fundamentals of investing in equities and assets that creates wealth??? is meant to acquaint a person starting out in the world of stock investing with all the information that is required to start the journey. What makes one investment good and the other dangerous? This ability to differentiate is the difference between a sophisticated investor and an average one. This book is about having you to develop the ability to think through an investment by understanding the difference between a good and a bad investment. The book contains brief primers on stock markets, equities, financial statements, and stock classifications we touch upon the art and science of picking stocks and building a portfolio. We also look at investment philosophies of some great investors of the world to enable you to learn from them and form your own investment philosophy. In short, the book provides all the required concepts needed for a beginner to get started with investing in equities to create valuable paper assets.

The Little Book of Investing Like the Pros

The Little Book of Investing Like the Pros
Author: Joshua Pearl,Joshua Rosenbaum
Publsiher: John Wiley & Sons
Total Pages: 336
Release: 2020-03-16
ISBN 10: 1119388260
ISBN 13: 9781119388265
Language: EN, FR, DE, ES & NL

The Little Book of Investing Like the Pros Book Review:

As you have probably noticed, there are quite a few investing books out there. Many of them were written by some of the world's greatest investors. So, why should you read our book? Stock investing is more prevalent than ever, whether directly or indirectly through brokerage accounts, exchange-traded funds, mutual funds, or retirement plans. Despite this, the vast majority of individual investors have no training on how to pick stocks. And, until now, there hasn't been a truly accessible, easy-to-understand resource available to help them. The Little Book of Investing Like the Pros was written to fill this void. We believe the simplicity and accessibility of our stock picking framework is truly unique. Using real-world examples and actual Wall Street models used by the pros, we teach you how to pick stocks in a highly accessible, step-by-step manner. Our goal is straightforward—to impart the skills necessary for finding high-quality stocks while protecting your portfolio with risk management best practices. Our practical approach is designed to help demystify the investing process, which can be intimidating. This training will help set you apart from others who are largely flying blind. Pilots require extensive training before receiving a license. Doctors must graduate medical school, followed by a multi-year residency. Even those providing professional investment advice require certification. But, anyone can buy a stock without any training whatsoever. While buying stocks on a hunch and a prayer may not endanger your life, it can certainly put your finances at risk.

OECD Benchmark Definition of Foreign Direct Investment 2008 Fourth Edition

OECD Benchmark Definition of Foreign Direct Investment 2008 Fourth Edition
Author: OECD
Publsiher: OECD Publishing
Total Pages: 241
Release: 2009-10-15
ISBN 10: 9264045740
ISBN 13: 9789264045743
Language: EN, FR, DE, ES & NL

OECD Benchmark Definition of Foreign Direct Investment 2008 Fourth Edition Book Review:

The OECD Benchmark Definition of Foreign Direct Investment sets the world standard for FDI statistics. It provides a single point of reference for statisticians and users on all aspect of FDI statistics, while remaining compatible with other internationally accepted statistical standards.

Factor Investing and Asset Allocation A Business Cycle Perspective

Factor Investing and Asset Allocation  A Business Cycle Perspective
Author: Vasant Naik,Mukundan Devarajan,Andrew Nowobilski ,Sébastien Page, CFA,Niels Pedersen
Publsiher: CFA Institute Research Foundation
Total Pages: 190
Release: 2016-12-30
ISBN 10: 1944960155
ISBN 13: 9781944960155
Language: EN, FR, DE, ES & NL

Factor Investing and Asset Allocation A Business Cycle Perspective Book Review:

How to Value Shares and Outperform the Market

How to Value Shares and Outperform the Market
Author: Glenn Martin
Publsiher: Harriman House Limited
Total Pages: 264
Release: 2011-10-26
ISBN 10: 0857190474
ISBN 13: 9780857190475
Language: EN, FR, DE, ES & NL

How to Value Shares and Outperform the Market Book Review:

Following the methodology of the successful ShareMaestro system, this book explains how to produce intrinsic valuations both of the UK market and of individual UK shares.

Investment Governance for Fiduciaries

Investment Governance for Fiduciaries
Author: Michael E. Drew,Adam N. Walk
Publsiher: CFA Institute Research Foundation
Total Pages: 190
Release: 2019-04-22
ISBN 10: 1944960708
ISBN 13: 9781944960704
Language: EN, FR, DE, ES & NL

Investment Governance for Fiduciaries Book Review:

Governance is a word that is increasingly heard and read in modern times, be it corporate governance, global governance, or investment governance. Investment governance, the central concern of this modest volume, refers to the effective employment of resources—people, policies, processes, and systems—by an individual or governing body (the fiduciary or agent) seeking to fulfil their fiduciary duty to a principal (or beneficiary) in addressing an underlying investment challenge. Effective investment governance is an enabler of good stewardship, and for this reason it should, in our view, be of interest to all fiduciaries, no matter the size of the pool of assets or the nature of the beneficiaries. To emphasize the importance of effective investment governance and to demonstrate its flexibility across organization type, we consider our investment governance process within three contexts: defined contribution (DC) plans, defined benefit (DB) plans, and endowments and foundations (E&Fs). Since the financial crisis of 2007–2008, the financial sector’s place in the economy and its methods and ethics have (rightly, in many cases) been under scrutiny. Coupled with this theme, the task of investment governance is of increasing importance due to the sheer weight of money, the retirement savings gap, demographic trends, regulation and activism, and rising standards of behavior based on higher expectations from those fiduciaries serve. These trends are at the same time related and self-reinforcing. Having explored the why of investment governance, we dedicate the remainder of the book to the question of how to bring it to bear as an essential component of good fiduciary practice. At this point, the reader might expect investment professionals to launch into a discussion about an investment process focused on the best way to capture returns. We resist this temptation. Instead, we contend that achieving outcomes on behalf of beneficiaries is as much about managing risks as it is about capturing returns—and we mean “risks” broadly construed, not just fluctuations in asset values.

The Little Book of Valuation

The Little Book of Valuation
Author: Aswath Damodaran
Publsiher: John Wiley & Sons
Total Pages: 256
Release: 2011-05-03
ISBN 10: 1118004779
ISBN 13: 9781118004777
Language: EN, FR, DE, ES & NL

The Little Book of Valuation Book Review:

An accessible, and intuitive, guide to stock valuation Valuation is at the heart of any investment decision, whether that decision is to buy, sell, or hold. In The Little Book of Valuation, expert Aswath Damodaran explains the techniques in language that any investors can understand, so you can make better investment decisions when reviewing stock research reports and engaging in independent efforts to value and pick stocks. Page by page, Damodaran distills the fundamentals of valuation, without glossing over or ignoring key concepts, and develops models that you can easily understand and use. Along the way, he covers various valuation approaches from intrinsic or discounted cash flow valuation and multiples or relative valuation to some elements of real option valuation. Includes case studies and examples that will help build your valuation skills Written by Aswath Damodaran, one of today's most respected valuation experts Includes an accompanying iPhone application (iVal) that makes the lessons of the book immediately useable Written with the individual investor in mind, this reliable guide will not only help you value a company quickly, but will also help you make sense of valuations done by others or found in comprehensive equity research reports.

Alternative Investments A Primer for Investment Professionals

Alternative Investments  A Primer for Investment Professionals
Author: Donald R. Chambers,Keith H. Black,Nelson J. Lacey
Publsiher: CFA Institute Research Foundation
Total Pages: 135
Release: 2018
ISBN 10: 1944960384
ISBN 13: 9781944960384
Language: EN, FR, DE, ES & NL

Alternative Investments A Primer for Investment Professionals Book Review:

Alternative Investments: A Primer for Investment Professionals provides an overview of alternative investments for institutional asset allocators and other overseers of portfolios containing both traditional and alternative assets. It is designed for those with substantial experience regarding traditional investments in stocks and bonds but limited familiarity regarding alternative assets, alternative strategies, and alternative portfolio management. The primer categorizes alternative assets into four groups: hedge funds, real assets, private equity, and structured products/derivatives. Real assets include vacant land, farmland, timber, infrastructure, intellectual property, commodities, and private real estate. For each group, the primer provides essential information about the characteristics, challenges, and purposes of these institutional-quality alternative assets in the context of a well-diversified institutional portfolio. Other topics addressed by this primer include tail risk, due diligence of the investment process and operations, measurement and management of risks and returns, setting return expectations, and portfolio construction. The primer concludes with a chapter on the case for investing in alternatives.

Portfolio Performance Measurement and Benchmarking

Portfolio Performance Measurement and Benchmarking
Author: Jon A. Christopherson,David R. Carino,Wayne E. Ferson
Publsiher: McGraw Hill Professional
Total Pages: 480
Release: 2009-08-05
ISBN 10: 0071713662
ISBN 13: 9780071713665
Language: EN, FR, DE, ES & NL

Portfolio Performance Measurement and Benchmarking Book Review:

In order to make sound investment choices, investors must know the projected return on investment in relation to the risk of not being paid. Benchmarks are excellent evaluators, but the failure to choose the right investing performance benchmark often leads to bad decisions or inaction, which inevitably results in lost profits. The first book of its kind, Portfolio Performance Measurement and Benchmarking is a complete guide to benchmarks and performace evaluation using benchmarks. In one inclusive volume, readers get foundational coverage on benchmark construction, as well as expert insight into specific benchmarks for asset classes and investment styles. Starting with the basics—such as return calculations and methods of dealing with cash flows—this thorough book covers a wide variety of performance measurement methodologies and evaluation techniques before moving into more technical material that deconstructs both the creation of indexes and the components of a desirable benchmark. Portfolio Performance Measurement and Benchmarking provides detailed coverage of benchmarks for: U.S. equities Global and international equities Fixed income Real estate The team of renowned authors offers illuminating opinions on the philosophy and development of equity indexes, while highlighting numerous mechanical problems inherent in building benchmarks and the implications of each one. Before you make your next investment, be certain your return will be worth the risk with Portfolio Performance Measurement and Benchmarking.

Equity Valuation and Portfolio Management

Equity Valuation and Portfolio Management
Author: Frank J. Fabozzi,Harry M. Markowitz
Publsiher: John Wiley & Sons
Total Pages: 576
Release: 2011-09-20
ISBN 10: 1118156552
ISBN 13: 9781118156551
Language: EN, FR, DE, ES & NL

Equity Valuation and Portfolio Management Book Review:

A detailed look at equity valuation and portfolio management Equity valuation is a method of valuing stock prices using fundamental analysis to determine the worth of the business and discover investment opportunities. In Equity Valuation and Portfolio Management Frank J. Fabozzi and Harry M. Markowitz explain the process of equity valuation, provide the necessary mathematical background, and discuss classic and new portfolio strategies for investment managers. Divided into two comprehensive parts, this reliable resource focuses on valuation and portfolio strategies related to equities. Discusses both fundamental and new techniques for valuation and strategies Fabozzi and Markowitz are experts in the fields of investment management and economics Includes end of chapter bullet point summaries, key chapter take-aways, and study questions Filled with in-depth insights and practical advice, Equity Valuation and Portfolio Management will put you in a better position to excel at this challenging endeavor.

Investment Valuation

Investment Valuation
Author: Kevin D. Peterson
Publsiher: Unknown
Total Pages: 70
Release: 2018-03-28
ISBN 10: 1928374650XXX
ISBN 13: 9182736450XXX
Language: EN, FR, DE, ES & NL

Investment Valuation Book Review:

“Know what you own, and know why you own it.” – Peter Lynch Today only, get this bestseller for a special price. Valuation is at the core of any investment choice, regardless of whether that choice is a purchase, offer or hold. Investment decisions should be valuation-based because the price you pay is the biggest determinant of your long term return on investment. All investment decisions are based on probability because no one has the ability to accurately forecast the future. This makes optimizing your positive probabilities a key to successful investing. Here Is A Preview Of What You'll Read... Introduction to Investment Valuation Valuation Methods Relative Valuation Understanding Financial Statements Analyzing The Balance Sheet Analyzing The Income Account The Basics Of Risk Ratio Analysis And much, much more! Download your copy today! Take action today and download this book now at a special price!