FIN8330_Chapter11_Slides

FIN8330_Chapter11_Slides - Investment Analysis and...

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Investment Analysis and Portfolio Management C h a p t e r 1 An Introduction to Security Valuation An Overview of the Valuation Process Three-Step Valuation Process Theory of Valuation Valuation of Alternative Investments Relative Valuation Techniques Estimating the Inputs: k and g
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11-2 Two General Approaches Top-down, three-step approach Bottom-up, stock valuation, stock picking approach The difference between the two approaches is the perceived importance of economic and industry influence on individual firms and stocks Both of these approaches can be implemented by either fundamentalists or technicians Overview of the valuation process
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11-3 Overview of the valuation process The Three-Step Top-Down Process First examine the influence of the general economy on all firms and the security markets Then analyze the prospects for various global industries with the best outlooks in this economic
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FIN8330_Chapter11_Slides - Investment Analysis and...

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