Applied Equity Analysis: Stock Valuation Techniques for Wall Street Professionals,9780071360517

Applied Equity Analysis: Stock Valuation Techniques for Wall Street Professionals

by
Edition: 1st
ISBN13: 9780071360517
ISBN10: 0071360514
Format: Hardcover
Pub. Date: 2001-06-04
Publisher(s): McGraw-Hill Education
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Summary

Today's Most Comprehensive Practitioner's Guide to Modern Equity AnalysisProfessional equity analysts must contend with a number of strong forces, each pulling in separate but equally relentless directions. "Applied Equity Analysis ties these disparate elements into a seamless whole, and presents a clear, complete equity analysis picture.Written from the working analyst's point of view, in a singularly candid style that is both thought provoking and illuminating, "Applied Equity Analysis covers: How to think, speak, and develop investment recommendations in the language of Wall Street How competitive forces directly impact financial results and, in the process, drive stock valuation How to use valuation methodologies designed to quantify the growth and earnings assumptions inherent in speculative stock prices "Applied Equity Analysis emphasizes techniques that work on a day-to-day basis, rather than traditional but often impractical academic approaches. By combining a solid discussion offinance and investment theory with techniques popular among today's buy- and sell-side analysts, it presents a picture of stock investment analysis that is analytically rigorous, aggressively uncompromising, and based on earnings--the true driving force of Wall Street."The equity analyst's job is to present a position, supported by financial and non-financial evidence. Data unnecessary to the argument are, in a word, unnecessary. However, the analyst must understand all the data, relevant or not. The ultimate goal of the equity analyst is the exploitation of any difference between a stock's price and its value." --From Chapter 1"Applied Equity Analysis is about understanding all"the data. Written by former JP Morgan managing director James English--an adjunct professor of finance at the Columbia University School of Business, honored by "The Wall Street Journal for his stock analysis skills--this innovat

Author Biography

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.

Table of Contents

Part I: Getting Started.

Chapter 1: A Day in the Life.

Chapter 2: Fundamentals of Equity Valuation.

Chapter 3: Strategy and Competition I: The Firms's External Environment.

Chapter 4: Strategy and Competition II: The Firm's Internal Competitive Resources.

Chapter 5: Fundamentals of Stock Behavior.

Part II: The Basic Tools.

Chapter 6: Reading a Financial Statement: The Accuracy, Sustainability, and Predictability of Financial Information.

Chapter 7: Reading a Financial Statement: The Composition of Returns.

Chapter 8: Reading a Financial Statement: Early-Stage Companies and Investment Capacity.

Chapter 9: Reading a Financial Statement: Later-Stage Companies and the Transition to Maturity.

Chapter 10: Economic Value Added: An Alternative to Traditional Analysis Techniques.

Part III: Financial Models.

Chapter 11: Financial Modeling: Base Case Assumptions and Model Design.

Chapter 12: Financial Modeling: The Income Statement and Balance Sheet.

Chapter 13: Financial Modeling: The Statement of Cash Flows.

Part IV: Equity Valuation.

Chapter 14: Valuation: Foundations and Fundamentals.

Chapter 15: Combat Finance: Relative Methods and Companion Variable Models.

Chapter 16: Hybrid Valuation Techniques.

Chapter 17: The Quirky Price/Earnings Ratio.

Chapter 18: Valuation of Speculative Stocks.

Chapter 19: Equity Analysis and Business Combinations.

Part V: Getting It Down on Paper.

Chapter 20: Financial Writing: Don't Bury the Lead.

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