Applied Equity Analysis: Stock Valuation Techniques for Wall Street Professionals

Front Cover
McGraw Hill Professional, Jun 18, 2001 - Business & Economics - 422 pages
1 Review
Applied Equity Analysis treats stock valuation as a practical, hands-on tool rather than a vague, theoretical exercise—and covers the entire valuation process from financial statement analysis through the final investment recommendation. Its integrated approach to valuation builds viable connections between a firm’s competitive situation and the ultimate behavior of its common stock. Techniques explained include EVA, newer hybrid valuation techniques, and relative multiple analysis.
 

What people are saying - Write a review

User Review - Flag as inappropriate

read this book

Contents

Chapter
3
Chapter 2
21
Chapter 10
40
The Firms External Environment
55
Chapter 4
83
Chapter 5
101
Chapter 6
127
Chapter 7
149
Chapter 12
259
The Statement of Cash Flows
273
Chapter 14
289
Relative Methods and Companion Variable
305
Chapter 16
333
The Quirky PriceEarnings Ratio
349
Valuation of Speculative Stocks
361
Equity Analysis and Business Combinations
375

Chapter 8
171
Chapter 9
185
An Alternative to Traditional Analysis
199
Chapter 11
231
Chapter 20
393
Bibliography
409
Copyright

Other editions - View all

Common terms and phrases

Popular passages

Page 76 - A player is your complementor if customers value your product more when they have the other player's product than when they have your product alone.
Page xiv - A Comparison of Stock Price Predictions Using Court Accepted Formulas, Dividend Discount, and P/E Models.
Page 121 - Investment based on genuine long-term expectation is so difficult to-day as to be scarcely practicable. He who attempts it must surely lead much more laborious days and run greater risks than he who tries to guess better than the crowd how the crowd will behave; and, given equal intelligence, he may make more disastrous mistakes.
Page 93 - Strategy is the creation of a unique and valuable position, involving a different set of activities.
Page 63 - The second central question in competitive strategy is a firm's relative position within its industry. Positioning determines whether a firm's profitability is above or below the industry average . . . The fundamental basis of above average performance in the long run is sustainable competitive advantage.
Page 78 - But you don't have to lose as much if you recognize that, once competitors enter the game, you can have win-win interactions with them. It's not all war with competitors. It's war and peace. The same is true in all four directions. Whether it be customer, supplier, complementor, or competitor, no one can be cast purely as friend or foe. There is a duality in every relationship — the simultaneous elements of win-win and win-lose. Peace and war. Friend and Foe There are both win-win and win-lose...
Page 174 - The detailed theory of the interaction of radiation with matter is beyond the scope of this book, but it can be found in most of the books on basic quantum mechanics.
Page 77 - From Co-opetition by Adam M. Brandenburger and Barry J. Nalebuff, copyright 1996 by Adam M. Brandenburger and Barry J. Nalebuff. Used by permission of Doubleday, a division of Random House. Inc.
Page 122 - A. (2000). Inefficient Markets: An Introduction to Behavioral Finance (Oxford University Press, New York).
Page 87 - A firm differentiates itself from its competitors if it can be unique at something that is valuable to buyers

About the author (2001)

James English is currently an adjunct assistant professor of finance at Columbia University School of Business. He spent twenty years with JP Morgan serving in many positions, including managing director of JP Morgan Capital, the firm's venture capital unit. In his over quarter-century career in finance, English practicedand become proficient invirtually every one of the field's subspecialties: commercial banking and credit analysis, corporate treasury and foreign exchange, capital markets, mergers & acquisitions, venture capital, and sell-side equity analysis.

Bibliographic information