Share

Stock Recommendations from Stochastic Discounted Cash Flows

2020
Download Stock Recommendations from Stochastic Discounted Cash Flows PDF Online Free

Author :
Release : 2020
Genre :
Kind : eBook
Book Rating : /5 ( reviews)

GET EBOOK


Book Synopsis Stock Recommendations from Stochastic Discounted Cash Flows by : Giulio Bottazzi

Download or read book Stock Recommendations from Stochastic Discounted Cash Flows written by Giulio Bottazzi. This book was released on 2020. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents two stocks recommendation systems based on a stochastic characterization of firm present value that extends the conventional discounted cash flow analysis. In the Single-Stock Quantile recommendation system, the market price of a company's stocks is compared with the estimated distribution of the company fair value to obtain an individual measure of mispricing, while in the Cross-Sectional Quantile system, a relative measure of mispricing is built using the fair value distribution of all firms at the same time. Both systems use mispricing information to build sell side and buy side portfolios. We provide a series of statistical exercises that show how these portfolios can consistently deliver significant excess returns, also when rebalancing costs are accounted for.

Stochastic Discounted Cash Flow

2020-02-28 Business & Economics
Download Stochastic Discounted Cash Flow PDF Online Free

Author :
Release : 2020-02-28
Genre : Business & Economics
Kind : eBook
Book Rating : 81X/5 ( reviews)

GET EBOOK


Book Synopsis Stochastic Discounted Cash Flow by : Lutz Kruschwitz

Download or read book Stochastic Discounted Cash Flow written by Lutz Kruschwitz. This book was released on 2020-02-28. Available in PDF, EPUB and Kindle. Book excerpt: This open access book discusses firm valuation, which is of interest to economists, particularly those working in finance. Firm valuation comes down to the calculation of the discounted cash flow, often only referred to by its abbreviation, DCF. There are, however, different coexistent versions, which seem to compete against each other, such as entity approaches and equity approaches. Acronyms are often used, such as APV (adjusted present value) or WACC (weighted average cost of capital), two concepts classified as entity approaches. This book explains why there are several procedures and whether they lead to the same result. It also examines the economic differences between the methods and indicates the various purposes they serve. Further it describes the limits of the procedures and the situations they are best applied to. The problems this book addresses are relevant to theoreticians and practitioners alike.

Valuation Approaches and Metrics

2005 Business & Economics
Download Valuation Approaches and Metrics PDF Online Free

Author :
Release : 2005
Genre : Business & Economics
Kind : eBook
Book Rating : 140/5 ( reviews)

GET EBOOK


Book Synopsis Valuation Approaches and Metrics by : Aswath Damodaran

Download or read book Valuation Approaches and Metrics written by Aswath Damodaran. This book was released on 2005. Available in PDF, EPUB and Kindle. Book excerpt: Valuation lies at the heart of much of what we do in finance, whether it is the study of market efficiency and questions about corporate governance or the comparison of different investment decision rules in capital budgeting. In this paper, we consider the theory and evidence on valuation approaches. We begin by surveying the literature on discounted cash flow valuation models, ranging from the first mentions of the dividend discount model to value stocks to the use of excess return models in more recent years. In the second part of the paper, we examine relative valuation models and, in particular, the use of multiples and comparables in valuation and evaluate whether relative valuation models yield more or less precise estimates of value than discounted cash flow models. In the final part of the paper, we set the stage for further research in valuation by noting the estimation challenges we face as companies globalize and become exposed to risk in multiple countries.

The Use of Technical and Fundamental Analysis in the Stock Market in Emerging and Developed Economies

2015-09-03 Business & Economics
Download The Use of Technical and Fundamental Analysis in the Stock Market in Emerging and Developed Economies PDF Online Free

Author :
Release : 2015-09-03
Genre : Business & Economics
Kind : eBook
Book Rating : 04X/5 ( reviews)

GET EBOOK


Book Synopsis The Use of Technical and Fundamental Analysis in the Stock Market in Emerging and Developed Economies by : Naveen B. Kumar

Download or read book The Use of Technical and Fundamental Analysis in the Stock Market in Emerging and Developed Economies written by Naveen B. Kumar. This book was released on 2015-09-03. Available in PDF, EPUB and Kindle. Book excerpt: This book gives a scientific and systematic approach to trading in developing stock markets. As professional traders do not trade purely on the basis of economic fundamentals, but also take into account market movements from other factors, knowledge of technical analysis is important to anyone who would participate successfully in the stock market.

Valuation of Equity Securities

2010-06-30 Business & Economics
Download Valuation of Equity Securities PDF Online Free

Author :
Release : 2010-06-30
Genre : Business & Economics
Kind : eBook
Book Rating : 388/5 ( reviews)

GET EBOOK


Book Synopsis Valuation of Equity Securities by : Geoffrey Poitras

Download or read book Valuation of Equity Securities written by Geoffrey Poitras. This book was released on 2010-06-30. Available in PDF, EPUB and Kindle. Book excerpt: Provides a treatment of academic and practitioner approaches to equity security valuation. This book challenges conventional academic wisdom surrounding the ergodic properties of stochastic processes, guided by historical and philosophical insights. It presents the implications of a general stochastic interpretation of equity security valuation.

You may also like...