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Value versus Growth - An Empirical Analysis of Equity Fund Managers ́ Capabilities to Generate Alpha

2012-04-25 Business & Economics
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Release : 2012-04-25
Genre : Business & Economics
Kind : eBook
Book Rating : 240/5 ( reviews)

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Book Synopsis Value versus Growth - An Empirical Analysis of Equity Fund Managers ́ Capabilities to Generate Alpha by : Thomas Müller

Download or read book Value versus Growth - An Empirical Analysis of Equity Fund Managers ́ Capabilities to Generate Alpha written by Thomas Müller. This book was released on 2012-04-25. Available in PDF, EPUB and Kindle. Book excerpt: Bachelor Thesis from the year 2012 in the subject Business economics - Business Management, Corporate Governance, grade: 1,00, EBS European Business School gGmbH, language: English, abstract: Portfolio managers face the challenge to achieve excess returns comparative to a benchmark for their private or institutional clients. Researchers such as Fama and French (1992, 1996) or Lakonishok, Shleifer, and Vishny (1994) caused a stir with their findings that various investment styles tend to accomplish superior returns over a long-term horizon. Their findings proposed that value stocks tend to outperform growth stocks. This bachelor thesis raises the question whether value or growth fund managers are able to achieve a persistent outperformance relative to their internal and external benchmark. The findings have a crucial influence on investors considering an investment into the equity market by an active or passive portfolio management approach.

Equity Valuation and Portfolio Management

2011-09-20 Business & Economics
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Release : 2011-09-20
Genre : Business & Economics
Kind : eBook
Book Rating : 552/5 ( reviews)

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Book Synopsis Equity Valuation and Portfolio Management by : Frank J. Fabozzi

Download or read book Equity Valuation and Portfolio Management written by Frank J. Fabozzi. This book was released on 2011-09-20. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Value and Growth Investing

2004
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Release : 2004
Genre :
Kind : eBook
Book Rating : /5 ( reviews)

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Book Synopsis Value and Growth Investing by : Louis K.C. Chan

Download or read book Value and Growth Investing written by Louis K.C. Chan. This book was released on 2004. Available in PDF, EPUB and Kindle. Book excerpt: A great deal of academic empirical research has been published on value and growth investing. We review and update this literature, discuss the various explanations for the performance of value versus growth stocks, review the empirical research on the alternative explanations, and provide some new results based on an updated and expanded sample. The evidence suggests that, even after taking into account the experience of the late 1990s, value investing generates superior returns. Common measures of risk do not support the argument that the return differential is a result of the higher riskiness of value stocks. Instead, behavioral considerations and the agency costs of delegated investment management lie at the root of the value-growth spread.

Better than Alpha: Three Steps to Capturing Excess Returns in a Changing World

2021-03-16 Business & Economics
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Release : 2021-03-16
Genre : Business & Economics
Kind : eBook
Book Rating : 652/5 ( reviews)

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Book Synopsis Better than Alpha: Three Steps to Capturing Excess Returns in a Changing World by : Christopher M. Schelling

Download or read book Better than Alpha: Three Steps to Capturing Excess Returns in a Changing World written by Christopher M. Schelling. This book was released on 2021-03-16. Available in PDF, EPUB and Kindle. Book excerpt: A powerful new approach for giving up the ghost of alpha—and building an investing portfolio that meets your objectives The concept of beating markets is just a lot of hype. Successful investors don’t find “alpha,” they find value―and that’s what this book helps you do. Better Than Alpha provides the perspective, insights, and tools you need to retrain your focus away from searching for alpha and toward actions that produce superior investment outcomes. Chris Schelling explains why strategies based on “beating the markets” are doomed to failure and provides a simple three-step framework for making better investment decisions: Behavior (smart thinking), Process (smart habits), Organization (smart governance). He explains why the search for alpha is destined to fail, the major role behavioral finance plays in so much wasted time, effort, and money, and, most important, how to avoid common mistakes and maximize your efforts. You’ll gain a deeper understanding of what drives investment returns, how superstar investment managers generated excess returns in the past, and why strategies that worked in the past don’t necessarily make sense today. Whether you’re responsible for generating revenue streams for pensions, endowments, or foundations; mitigating insurance losses; serving as an investment consultant; or any other institutional-level investing, Better Than Alpha walks you through the process of minimizing the impacts of behavioral biases and making decisions that create a higher probability of meeting your objectives―whatever they may be.

Behavioral Finance

2019-02-01 Business & Economics
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Release : 2019-02-01
Genre : Business & Economics
Kind : eBook
Book Rating : 759/5 ( reviews)

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Book Synopsis Behavioral Finance by : H. Kent Baker

Download or read book Behavioral Finance written by H. Kent Baker. This book was released on 2019-02-01. Available in PDF, EPUB and Kindle. Book excerpt: People tend to be penny wise and pound foolish and cry over spilt milk, even though we are taught to do neither. Focusing on the present at the expense of the future and basing decisions on lost value are two mistakes common to decision-making that are particularly costly in the world of finance. Behavioral Finance: What Everyone Needs to KnowR provides an overview of common shortcuts and mistakes people make in managing their finances. It covers the common cognitive biases or errors that occur when people are collecting, processing, and interpreting information. These include emotional biases and the influence of social factors, from culture to the behavior of one's peers. These effects vary during one's life, reflecting differences in due to age, experience, and gender. Among the questions to be addressed are: How did the financial crisis of 2007-2008 spur understanding human behavior? What are market anomalies and how do they relate to behavioral biases? What role does overconfidence play in financial decision- making? And how does getting older affect risk tolerance?

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