Equity Valuation, Risk and Investment: A Practitioner's Roadmap
Author Peter Stimes's analysis of the investment process has long been inspired by some of the best minds in the world of finance, yet some of the ways in which he approaches this discipline are truly unique. In "Equity Valuation, Risk, and Investment, " Stimes shares his extensive expertise with you and reveals how practitioners can integrate and apply both the theory and quantitative analysis found in finance to the day-to-day decisions they must make with regard to important investment issues.
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InflationProtected Ronds as a Valuation Template
on Common Equity
Weights Are Required to Be Nonnegative
Acquisition actual adjusted after-tax cash flow analysis Annualized Portfolio Standard asset classes assumed assumptions basic book value capital spending Chapter common equity common stock companies computed core inflation rates corporate debt yield correlation covariance discount factor dividend earnings per share Efficient Portfolio efficient-portfolio curve Enron EPSt equation equity discount rate equity returns equity valuation expected return fair value Figure fixed-rate debt formula franchise value growth factor higher historical impact inflation-adjusted discount rates input Intel interest rates intuition investment investors isoquant long-term market price market value merger net present value nominal Nt-i obtain operating cash flow Optimal Portfolio P/E ratios period portfolio desirability Portfolio Standard Deviation Portfolio Weights Positivity Constraints produce profitability real discount rate Reinvestment Fraction relationship risk premium Risk Tolerance standard deviation Table tax rate term TIPS underlying Unleveraged Equity unleveraged firm value utilize variables variance zero