By Robert A. Weigand
A "hands-on" advisor to utilized fairness research and portfolio management
From asset allocation to modeling the intrinsic worth of a inventory, Applied fairness research and Portfolio administration + on-line Video Course deals readers an effective starting place within the perform of primary research utilizing an identical instruments and strategies as expert traders. choked with real-world illustrations and hands-on purposes, Professor Weigand's studying procedure takes a rigorous, empirical method of issues comparable to studying the macro-finance surroundings, zone rotation, monetary research and valuation, assessing a company's aggressive place, and reporting the functionality of a inventory portfolio.
Unlike commonplace books in this subject—which characteristic chapters to learn and workouts to complete—this source permits readers to actively perform the training adventure through finishing writing workouts and manipulating interactive spreadsheets that illustrate the foundations being taught. the training method additionally good points tutorial video clips that reveal the way to use the spreadsheet versions and excerpts from the author's web publication, that are used to depict extra examples of the research approach. alongside the way in which, it skillfully outlines an efficient method of growing and reading outputs in general linked to a top-down funds administration store — together with a macroeconomic forecasting e-newsletter, unique inventory study reviews, and a portfolio functionality attribution analysis.
- Covers issues together with lively and passive funds administration, basic research and portfolio attribution analysis
- Companion streaming movies exhibit the right way to use unfastened on-line facts to create yourown analyses of key fiscal signs, person shares, and inventory portfolios
- A important source for universities who've utilized fairness research and portfolio administration courses
Practical and updated, the e-book is a wonderful source for people with a necessity for functional funding expertise.
Read or Download Applied Equity Analysis and Portfolio Management: Tools to Analyze and Manage Your Stock Portfolio PDF
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Extra resources for Applied Equity Analysis and Portfolio Management: Tools to Analyze and Manage Your Stock Portfolio
Statman (2010), Nofsinger (2010), and others have identified additional cognitive biases that often derail investors’ thinking. Some of the most popular biases include hindsight error, which tricks people into thinking they can foretell the future because they can easily observe the past. Confirmation errors occur when investors place too much weight on information that confirms their prior opinions (cognitive consonance), but underweight or completely disregard evidence that contradicts their prior opinions (cognitive dissonance).
Lo, Andrew. 2004. ” Journal of Portfolio Management 30: 15–29. Lo, Andrew. 2005.
Passive investors outperform active investors in the aggregate. ■■ Research suggests that two main factors contribute to the outperformance of passive investors: lower costs of trading and committing fewer cognitive errors. ■■ Active investors need a theory, or model, of how rapidly and accurately new information affects stock prices. ■■ The three main theories of information and prices are the efficient markets hypothesis, behavioral finance, and the adaptive markets hypothesis. ■■ An investment policy statement makes clear statements about an investor’s or fund’s objectives, return expectations, risk tolerance, time horizon, and portfolio allocations that inform the decisions of stock analysts and portfolio managers.