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El. knyga: Investment Philosophies: Successful Strategies and the Investors Who Made Them Work

4.05/5 (130 ratings by Goodreads)
(Stern School of Business, New York University)
  • Formatas: PDF+DRM
  • Serija: Wiley Finance
  • Išleidimo metai: 19-Jun-2012
  • Leidėjas: John Wiley & Sons Inc
  • Kalba: eng
  • ISBN-13: 9781118221921
Kitos knygos pagal šią temą:
  • Formatas: PDF+DRM
  • Serija: Wiley Finance
  • Išleidimo metai: 19-Jun-2012
  • Leidėjas: John Wiley & Sons Inc
  • Kalba: eng
  • ISBN-13: 9781118221921
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The guide for investors who want a better understanding of investment strategies that have stood the test of time

This thoroughly revised and updated edition of Investment Philosophies covers different investment philosophies and reveal the beliefs that underlie each one, the evidence on whether the strategies that arise from the philosophy actually produce results, and what an investor needs to bring to the table to make the philosophy work.

The book covers a wealth of strategies including indexing, passive and activist value investing, growth investing, chart/technical analysis, market timing, arbitrage, and many more investment philosophies.

  • Presents the tools needed to understand portfolio management and the variety of strategies available to achieve investment success
  • Explores the process of creating and managing a portfolio
  • Shows readers how to profit like successful value growth index investors
  • Aswath Damodaran is a well-known academic and practitioner in finance who is an expert on different approaches to valuation and investment

This vital resource examines various investing philosophies and provides you with helpful online resources and tools to fully investigate each investment philosophy and assess whether it is a philosophy that is appropriate for you.

Chapter 1 Introduction
1(14)
What Is an Investment Philosophy?
2(1)
Why Do You Need an Investment Philosophy?
3(1)
The Big Picture of Investing
4(3)
Categorizing Investment Philosophies
7(3)
Developing an Investment Philosophy
10(2)
Conclusion
12(1)
Exercises
13(2)
Chapter 2 Upside, Downside: Understanding Risk
15(38)
What Is Risk?
16(1)
Equity Risk: Theory-Based Models
16(16)
Assessing Conventional Risk and Return Models
32(2)
Equity Risk: Alternative Measures
34(11)
Equity Risk: Assessing the Field
45(1)
Default Risk
46(4)
Conclusion
50(1)
Exercises
51(2)
Chapter 3 Numbers Don't Lie---Or Do They?
53(34)
The Basic Accounting Statements
53(2)
Asset Measurement and Valuation
55(7)
Measuring Financing Mix
62(7)
Measuring Earnings and Profitability
69(6)
Measuring Risk
75(7)
Differences in Accounting Standards and Practices
82(1)
Conclusion
82(3)
Exercises
85(2)
Chapter 4 Show Me the Money: The Basics of Valuation
87(38)
Intrinsic Value
87(23)
Relative Valuation
110(9)
Valuing an Asset with Contingent Cash Flows (Options)
119(2)
Conclusion
121(1)
Exercises
122(3)
Chapter 5 Many a Slip: Trading, Execution, and Taxes
125(38)
The Trading Cost Drag
125(2)
The Components of Trading Costs: Traded Financial Assets
127(19)
Trading Costs with Nontraded Assets
146(2)
Management of Trading Costs
148(2)
Taxes
150(9)
Conclusion
159(1)
Exercises
160(3)
Chapter 6 Too Good to Be True? Testing Investment Strategies
163(46)
Why Does Market Efficiency Matter?
163(1)
Efficient Markets: Definition and Implications
164(6)
Behavioral Finance: The Challenge to Efficient Markets
170(34)
A Skeptic's Guide to Investment Strategies
204(2)
Conclusion
206(1)
Exercises
207(2)
Chapter 7 Smoke and Mirrors? Price Patterns, Volume Charts, and Technical Analysis
209(50)
Random Walks and Price Patterns
209(2)
Empirical Evidence
211(28)
The Foundations of Technical Analysis
239(1)
Technical Indicators and Charting Patterns
240(15)
Conclusion
255(1)
Exercises
256(3)
Chapter 8 Graham's Disciples: Value Investing
259(70)
Who Is a Value Investor?
259(1)
The Passive Screener
260(24)
The Contrarian Value Investor
284(9)
Activist Value Investing
293(33)
Conclusion
326(1)
Exercises
326(3)
Chapter 9 The Allure of Growth: Small Cap and Growth Investing
329(46)
Who Is a Growth Investor?
329(1)
Passive Growth Investing
330(35)
Activist Growth Investing
365(7)
Conclusion
372(1)
Exercises
373(2)
Chapter 10 Information Pays: Trading on News
375(50)
Information and Prices
376(2)
Trading on Private Information
378(20)
Trading on Public Information
398(23)
Implementing an Information-Based Investment Strategy
421(1)
Conclusion
422(1)
Exercises
423(2)
Chapter 11 A Sure Profit: The Essence of Arbitrage
425(48)
Pure Arbitrage
425(25)
Near Arbitrage
450(10)
Speculative Arbitrage
460(5)
Long/Short Strategies---Hedge Funds
465(4)
Conclusion
469(1)
Exercises
470(3)
Chapter 12 The Impossible Dream? Timing the Market
473(52)
Market Timing: Payoffs and Costs
473(4)
Market Timing Approaches
477(29)
The Evidence on Market Timing
506(8)
Market Timing Strategies
514(4)
Market Timing Instruments
518(3)
Connecting Market Timing to Security Selection
521(1)
Conclusion
521(1)
Exercises
522(3)
Chapter 13 Ready to Give Up? The Allure of Indexing
525(50)
The Mechanics of Indexing
525(2)
A History of Indexing
527(3)
The Case for Indexing
530(24)
Why Do Active Investors Not Perform Better?
554(8)
Alternative Paths to Indexing
562(9)
Conclusion
571(1)
Exercises
572(3)
Chapter 14 A Road Map to Choosing an Investment Philosophy
575(10)
A Self-Assessment
575(4)
Finding an Investment Philosophy
579(2)
The Right Investment Philosophy
581(2)
Conclusion
583(1)
Exercises
584(1)
Index 585
ASWATH DAMODARAN is Professor of Finance at New York University's Leonard N. Stern School of Business. He has been the recipient of numerous awards for outstanding teaching, including the NYU university-wide Distinguished Teaching Award, and was named one of the nation's top business school teachers by BusinessWeek in 1994. In addition, Damodaran teaches training courses in corporate finance and valuation at many leading investment banks. His publications include Investment Valuation (now in its third edition), Damodaran on Valuation: Security Analysis for Investment and Corporate Finance; Corporate Finance; Investment Management; and Applied Corporate Finance, all published by Wiley, and The Dark Side of Valuation.