Security Analysis and Business Valuation on Wall Street: A Comprehensive Guide to Today's Valuation Methods - Rilegato

Hooke, Jeffrey C.

Rilegato

ISBN 10: 0470277343 ISBN 13: 9780470277348

Casa editrice: John Wiley & Sons Inc, 2010

Riassunto

An insider's look at security analysis and business valuation, aspracticed by Wall Street, Corporate America, and internationalbusinesses

Two major market crashes, numerous financial and accountingscandals, growth in private equity and hedge funds, Sarbanes Oxleyand related regulations, and international developments changedsecurity analysis and business valuation substantially over thelast fourteen years. These events necessitated a second edition ofthis modern classic, praised earlier by Barron's as a"welcome successor to Graham and Dodd" and used in the global CFAexam.

This authoritative book shows the rational, rigorous analysis isstill the most successful way to evaluate securities. It picks upwhere Graham and Dodd's bestselling Security Analysis - fordecades considered the definitive word on the subject - leaves off.Providing a practical viewpoint, Security Analysis on WallStreet shows how the values of common stock are reallydetermined in today's marketplace. Incorporating dozens ofreal-world examples, and spotlighting many special analysis cases -including cash flow stocks, unusual industries and distressedsecurities - this comprehensive resources delivers all the answersto your questions about security analysis and corporate valuationon Wall Street.

The Second Edition of Security Analysis on WallStreet examines how mutual funds, private equity funds, hedgefunds, institutional money managers, investment banks, businessappraisers, and corporate acquirers perform their craft of securityanalysis and business valuation in today's highly chargedenvironment. Completely updated to reflect the latestmethodologies, this reliable resource represents the mostcomprehensive book written by someone who has actually worked as aninvestment banker, private equity executive, and internationalinstitutional investor.

• Shows the methodical process that practitioners use to valuecommon stocks and operating companies and to make buy/selldecisions
• Discusses the impact of the two stock market crashes, theaccounting and financial scandals, and the new regulations on theevaluation process
• Covers how Internet and computing power automate portions ofthe research and analytical effort
  
• Includes new case study examples representative of valuationissues faced daily by mutual funds, private equity funds, hedgefunds, institutional investors, investment banks, businessappraisers, and corporate acquirers
• Is a perfect tool for professors wishing to show their MBAstudents the essential tools of equity and business valuation

Security analysis and business valuation are core financialdisciplines for Wall Streeters, corporate acquirers, andinternational investors. The Second Edition of SecurityAnalysis on Wall Street is an important book for anyone whoneeds a solid grounding in these critical finance topics.

Su questo libro

Recensione:

Praise for the First Edition
 
"A cross between a textbook for analysts-in-training and a tell-all expose of the analyst profession."
--Business Week
 
"Hooke has written a step-by-step explanation of how to analyze stock. He takes the reader from the basic yardsticks used to judge companies -- intrinsic value, relative value and acquisition value - and goes all the way to analyzing stocks in emerging overseas markets."
--ABC News.com
 
Advance Praise for the Second Edition
 
"A welcome successor to Graham and Dodd's Security Analysis."
--Barron's Advance Praise for the Second Edition
 
"Jeff Hooke has written an excellent overview of the process of valuing individual equities and entire companies. It is useful for a variety of readers, ranging from active investors, to financial advisors, to principals of companies contemplating a sale or public offering. It has a tremendous amount of material between the covers of a single volume."
--William H. Heyman, Vice Chairman and Chief Investment Officer, The Travelers Companies, Inc.; and former director, Division of Market Regulation, U.S. Securities and Exchange Commission
 
"The Second Edition is released at a propitious time. As we recover from the worst financial crisis in recent memory, the need for thorough analysis is critical. Hooke's primer is readable and easily understood, even by those without CFA credentials. It should help practitioners avoid the mistakes of casual decision making."
--Dennis Flannery, retired executive vice president, Inter-American Development Bank
 
"This book is more than a textbook for anyone who wants to make a living as a valuation expert or securities analyst --it is a living, breathing, 'how to' guide on the latest methods, with plenty of real-life examples that hit home."
--Ron Everett, Managing Partner, Certified Business Appraiser, Business Valuation Center
 
"The financial crises of the past decade highlight the imperative for disciplined valuation. Hooke provides a broad array of concepts and tools to achieve this. He goes beyond a purely formulaic approach to focus on idiosyncratic characteristics in both public and private equity contexts."
--Alex Triantis, Chair, Finance Department, Robert H. Smith School of Business, University of Maryland
 
"This book represents an impressive effort to offer comprehensive coverage of business valuation. It combines the deep insight of an insider with the rigor of top academics. Jeff is not shy about giving his opinion, which makes the reading experience unique and exciting."
--Ludovic Phalippou, Professor of Finance, University of Amsterdam
 
"This is an invaluable reference for the M&A professional. Hooke provides a view of the forest, in giving the rationale for the methods in use and how they compare with each other. The text is punctuated by his own wry commentary and frequent examples."
--Gary Nelson, Chairman, Sigma Federal, former vice chairman of SRA International
 
"This book is a highly useful resource for any existing or soon-to-be professional in the financial analysis field. It is a must-read presentation of the valuation methodologies utilized in the private equity business."
--Matt Newton, Partner, Columbia Capital
 
"Hooke's book provides an insightful approach to both financial analysis and business valuation. It should be required reading for anyone involved in the securities industry, from money managers to investment bankers."
--George Konomos, Senior Advisor, Latigo Partners
 
"The new edition of Jeffrey Hooke's (Hooke Associates and FOCUS, LLC) Security Analysis and Business Valuation on Wall Street contains fresh insights and updates on the fundamentals of security analysis and business valuation, new case study examples, and four new chapters.
 
Among other reasons, Hooke points out why experts should read this practitioner-oriented book: "Two market crashes -- and the attendant fallout -- suggest that business appraisers consider the use of higher discount rates, the need for recessions in many forecasts, and the inclusion of political risk in certain US business evaluations...The validity of each methodology -- be it guideline companies or discounted cash flow, to give two examples -- has to be cross checked against its counterparts now more than ever, or the appraiser can get false readings."
-- Business Valuation Review, May 5, 2010

L'autore:

PHILIP PLAIT, Ph.D., works in the physics and astronomy department at Sonoma State University in California. He maintains the Web site badastronomy.com and writes monthly articles on astronomy for the German newspaper Die Frankfurter Allgemeine Zeitung. His work has appeared in the Encyclopedia Britannica Yearbook of Science and the Future and Astronomy magazine. He also writes a monthly column for astronomy.com.

Su questa edizione

• Editore: John Wiley & Sons Inc
• Data di pubblicazione: 2010
• ISBN 10: 0470277343
• ISBN 13: 9780470277348
• Rilegatura: Copertina rigida
• Numero edizione: 2
• Numero di pagine: 408