Security Analysis on Wall Street: A Comprehensive Guide to Todays Valuation Methods

Security Analysis on Wall Street The principles of investing have always been simple: buy low, sell high. The information needed to make these potentially lucrative decisions, however, is often hard to find, difficult to decipher, and not always reliable. This authoritative new book is the essential reference for students who want to learn the rational, rigorous analysis that is still the most successful way to evaluate securities. Security Analysis on Wall Street explains how the values of common stocks are really determined in today′s marketplace and takes a comprehensive look at the entire security evaluation process, as well as the major valuation techniques currently being used by Wall Street professionals. Beginning with an overview of the environment in which stocks are issued, researched, bought, and sold, Hooke examines the roles of the various players, the rules of the markets, and the activities surrounding initial public offerings. He then probes the intricacies of analyzing and reporting on securities with proven methods for evaluating the merits of a stock. This sophisticated yet straightforward system teaches students how to assess profitable firms; understand marginal performers, leveraged buyouts, and corporate takeovers; and–most importantly–to break down different analyses and get the big answers: Is the security fairly valued, and why or why not? "A welcome successor to Graham and Dodd′s Security Analysis." –Barron′s

Spis treści:
Introduction
Part I The Investing Environment
1 Why Analyze a Security?
2 Who Is Practicing Security Analysis?
3 Seeking a Level Playing Field
4 Other Sources of Information
Part II Performing the Analysis and Writing the Research Report
5 Starting the Analysis
6 Industry Analysis
7 Company–Specific Analysis
8 Financial Statement Analysis of an Established Business
9 The Limitations of Accounting Data
10 Financial Analysi s and Stock Characterization
11 Financial Projection Pointers
Part III Valuation and the Investment Decision
12 Modern Approaches to Valuation
13 The Relative Value Approach
14 Valuing Marginal Performers
15 The Mergers and Acquisitions Market, Leveraged Buyouts, and Takeovers
16 Breakup Analysis
17 Recommended Investment Decision
Part IV Special Cases
18 Cash Flow Stocks
19 Natural Resource Stocks
20 Financial Industry Stocks
21 Insurance Companies
22 Highly Speculative Stocks
23 Distressed Securities and Turnarounds
24 International Stocks
25 Emerging Markets: The Final Frontier
Part V Summary
26 Closing Thoughts on Security Analysis
Index

Okładka tylna:
Security Analysis on Wall Street The principles of investing have always been simple: buy low, sell high. The information needed to make these potentially lucrative decisions, however, is often hard to find, difficult to decipher, and not always reliable. This authoritative new book is the essential reference for students who want to learn the rational, rigorous analysis that is still the most successful way to evaluate securities. Security Analysis on Wall Street explains how the values of common stocks are really determined in today′s marketplace and takes a comprehensive look at the entire security evaluation process, as well as the major valuation techniques currently being used by Wall Street professionals. Beginning with an overview of the environment in which stocks are issued, researched, bought, and sold, Hooke examines the roles of the various players, the rules of the markets, and the activities surrounding initial public offerings. He then probes the intricacies of analyzing and reporting on securities with proven methods for evaluating the merits of a stock. This sophisticated yet straightforward system teaches students how to assess profitable firms; understand marginal performers, leveraged buyouts, and corporat e takeovers; and–most importantly–to break down different analyses and get the big answers: Is the security fairly valued, and why or why not? "A welcome successor to Graham and Dodd′s Security Analysis." –Barron′s