Download or read book Shareholder Value Creators and Destroyers in the Dow Jones written by Pablo Fernandez and published by . This book was released on 2015 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: During 2008, the 30 companies included in the Dow Jones destroyed $1.6 trillion for their shareholders. Only 2 companies (Wal Mart and McDonalds) created value. The top shareholder value destroyers were General Electric ($233 billion) and Microsoft ($178 billion). The market value of the 30 companies was $2.9 trillion in 2008 and $4.4 trillion in 2007.The price of the shares of each company had a big dispersion: on average, the maximum price of the year 2008 was 2.6 times the minimum price. 2008 had 11 of the 20 days with lowest returns in the period 1963-2008, and 8 of the 20 days with highest returns in the same 45-year period. The average return of 2008 was -32.3% (6 companies had returns below -50% and 20 had returns below -20%). However, the investors that bought shares in the years 1987-1998 and 2001-2002 had positive returns on December 2008.
Download or read book Shareholder Value Creators and Shareholder Value Destroyers in Europe Year 2002 written by Pablo Fernandez and published by . This book was released on 2006 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: 2002 was a bad year for the shareholders of the companies in the Euro Stoxx 50: the shareholder value destruction of the companies in the Euro Stoxx 50 was Euro 958,968 million. In 2002 only Eni created value (Euro 3,374 million). The remaining 49 companies destroyed value and had negative returns. Alcatel had the lowest shareholder return in 2002 (-77.9%). Shareholder value destruction in the 3-year period 2000-2002 Euro was 1.9 trillion. The market value of the 50 companies was Euro 1.42 trillion in 2002, and Euro 2.24 trillion in 2001, and Euro 2.75 trillion in 2001. We also calculate the created shareholder value of the 50 companies during the six-year period 1997-2002. Nokia was the top shareholder value creator and Allianz the top shareholder value destroyer during the six-year period. We find a very weak relationship between return and size. A portfolio long in the companies that entered the index and short in the companies that abandoned the index had on average a 10% return in the 16 days prior to the index recomposition and a -6% return in the 12 days after the index recomposition. In 2002, the Euro Stoxx 50 was much more volatile than the Samp;P 500 or the Dow Jones.
Download or read book Redefining Shareholder Value written by Mariana Schmid and published by Business Expert Press. This book was released on 2015-07-22 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt: Measuring shareholder value has become crucial in the current economic environment, especially following the consistent pressure from institutional shareholders on companies to create shareholder value in an adverse economic environment. Maximizing the company’s value will make the company less appealing to hostile takeovers. Takeovers are a capital market mechanism designed to control the conflicts of interest between shareholders and managers of the company. In this study, the authors examine the best methods used in measuring shareholder value, and explore the process of shareholder value creation in the years prior and following the creeping takeover of Ivanhoe Mines by Rio Tinto Plc. The study is based on data and ratio analytics from ThomsonONE (Reuters), information that is publicly available through press releases, analyst coverage, and financial news. It also includes an in-depth analysis of the creeping takeover of Ivanhoe Mines by Rio Tinto Plc.
Download or read book Valuation Methods and Shareholder Value Creation written by Pablo Fernandez and published by Elsevier. This book was released on 2002-09-11 with total page 661 pages. Available in PDF, EPUB and Kindle. Book excerpt: Valuation Methods and Shareholder Value Creation provides a comprehensive examination of valuation tools and guidance for analyzing and valuing a business. It covers the basics of valuation methods and shareholder value creation in addition to rigorous approaches to discounted cash flow valuation and real options for valuing a company. It highlights quantitative analyses of firm value; emphasizes qualitative management assessments; and integrates data from international companies. By examining eight different methods of discounted cash flow valuation and discussing the pros and cons of each method, the book offers thorough, accessible coverage of corporate valuation. The book provides well-structured guidance for practitioners and MBA students with a background in finance. - Highlights quantitative analyses of firm value - Emphasizes qualitative management assessments - Integrates data from international companies
Download or read book The Art of Value Investing written by John Heins and published by John Wiley & Sons. This book was released on 2013-04-12 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Says Bill Ackman of Pershing Square Capital Management about The Art of Value Investing: "I learned the investment business largely from the work and thinking of other investors. The Art of Value Investing is a thoughtfully organized compilation of some of the best investment insights I have ever read. Read this book with care. It will be one of the highest-return investments you will ever make." Based on interviews with the world's most-successful value investors, The Art of Value Investing offers a comprehensive set of answers to the questions every equity money manager should have thought through clearly before holding himself or herself out as a worthy steward of other people's money. What market inefficiencies will I try to exploit? How will I generate ideas? What will be my geographic focus? What analytical edge will I hope to have? What valuation methodologies will I use? What time horizon will I typically employ? How many stocks will I own? How specifically will I decide to buy or sell? Will I hedge, and how? How will I keep my emotions from getting the best of me? Who should read The Art of Value Investing? It is as vital a resource for the just starting out investor as for the sophisticated professional one. The former will find a comprehensive guidebook for defining a sound investment strategy from A-to-Z; the latter will find all aspects of his or her existing practice challenged or reconfirmed by the provocative thinking of their most-successful peers. It also is a must read for any investor – institutional or individual – charged with choosing the best managers for the money they are allocating to equities. Choosing the right managers requires knowing all the right questions to ask as well as the answers worthy of respect and attention – both of which are delivered in The Art of Value Investing.
Download or read book The Momentum Effect ePub written by Jean Claud Larreche and published by Pearson UK. This book was released on 2013-10-03 with total page 481 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the most frequent challenges that managers and executives face today is: ‘How do I keep on growing and at the same time, make a profit?’ Based on the author’s extensive research on over 350 Fortune 1000 Firms, The Momentum Effect proves that the old method of spending big on marketing and slashing the manufacturing costs doesn’t work anymore. Instead, it provides new evidence to show that in order to achieve profitable growth you have to create new value for customers through innovation, ingenuity and most importantly by seeing things from a customer perspective. This strategy generates a positive, reinforcing momentum which leads to further growth. Why limit your business growth? With Momentum, you won’t have to.
Download or read book How I Became a Quant written by Richard R. Lindsey and published by John Wiley & Sons. This book was released on 2011-01-11 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt: Praise for How I Became a Quant "Led by two top-notch quants, Richard R. Lindsey and Barry Schachter, How I Became a Quant details the quirky world of quantitative analysis through stories told by some of today's most successful quants. For anyone who might have thought otherwise, there are engaging personalities behind all that number crunching!" --Ira Kawaller, Kawaller & Co. and the Kawaller Fund "A fun and fascinating read. This book tells the story of how academics, physicists, mathematicians, and other scientists became professional investors managing billions." --David A. Krell, President and CEO, International Securities Exchange "How I Became a Quant should be must reading for all students with a quantitative aptitude. It provides fascinating examples of the dynamic career opportunities potentially open to anyone with the skills and passion for quantitative analysis." --Roy D. Henriksson, Chief Investment Officer, Advanced Portfolio Management "Quants"--those who design and implement mathematical models for the pricing of derivatives, assessment of risk, or prediction of market movements--are the backbone of today's investment industry. As the greater volatility of current financial markets has driven investors to seek shelter from increasing uncertainty, the quant revolution has given people the opportunity to avoid unwanted financial risk by literally trading it away, or more specifically, paying someone else to take on the unwanted risk. How I Became a Quant reveals the faces behind the quant revolution, offering you?the?chance to learn firsthand what it's like to be a?quant today. In this fascinating collection of Wall Street war stories, more than two dozen quants detail their roots, roles, and contributions, explaining what they do and how they do it, as well as outlining the sometimes unexpected paths they have followed from the halls of academia to the front lines of an investment revolution.
Download or read book Dow 36 000 written by James K. Glassman and published by Three Rivers Press (CA). This book was released on 2000 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Every stock owner should read this book." -- Allan H. Meltzer, professor of political economy, Carnegie Mellon University * A radically new way to determine what stocks are really worth * Why the Dow is still poised to zoom * Why the financial establishment is wrong * Why stocks are actually less risky than bonds * How to build a maximizing portfolio and invest without fear "One of the hottest business books around. . . . It has wonderfully clear explanations of financial theory [and] excellent advice on general investing approaches." -- Allan Sloan, Newsweek "It may sound like headline-grabbing sensationalism, but the scholarly and punctilious authors make a persuasive case . . . the book is highly readable and witty." -- Arthur M. Louis, "San Francisco Chronicle "Dow 36,000 is a provocative and well-written treatise that cannot be dismissed. . . ." -- Burton G. Malkiel, "Wall Street Journal "Dow 36,000: Everything you know about stocks is wrong." -- Jim Jubak, "Worth magazine
Download or read book All that is Solid Melts Into Air written by Marshall Berman and published by Verso. This book was released on 1983 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: The experience of modernization -- the dizzying social changes that swept millions of people into the capitalist world -- and modernism in art, literature and architecture are brilliantly integrated in this account.
Download or read book The Valuation Handbook written by Rawley Thomas and published by John Wiley & Sons. This book was released on 2010 with total page 657 pages. Available in PDF, EPUB and Kindle. Book excerpt: The definitive guide to valuation written by a who's who of today's top practitioners The Valuation Handbook differs significantly from other related books on this topic because the contributors are practitioners, academics, and investment firms that explain how they value companies and other assets. It concentrates on specific and innovative valuation techniques, rather than the theoretical approaches more generally accepted and discussed. Given the extreme volatility of the stock market, valuation is a critical issue for analysts, investors, and businesses. Here, various professional contributors explain how their firms approach the valuation process, while academic contributors share their valuation consulting and research experience. Examines how to value assets in today's dynamic market setting Offers a broad spectrum of ideas from some of the top practitioners and academics in this field Highlights state-of-the-art approaches to company valuation Filled with in-depth insights and expert advice, The Valuation Handbook puts this difficult discipline in perspective.
Download or read book Short Selling written by Frank J. Fabozzi and published by John Wiley & Sons. This book was released on 2004-11-17 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: The latest theoretical and empirical evidence on short selling in the United States and throughout the world To get the most success out of what the finance community regards as a risky business, short sellers need high-level information. The Theory and Practice of Short Selling offers managers and investors the information they need to maximize and enhance their short selling capabilities for bigger profits. Frank Fabozzi collects a group of market experts who share their knowledge on everything from the basics to the complex in the world of short sales, including mechanics of short selling, the empirical evidence on short-selling, the implications or restrictions on short selling for investment strategies, short-selling strategies pursued by institutional investors, and identifying short-selling candidates. Frank J. Fabozzi, PhD, CFA (New Hope, PA), is the Frederick Frank Adjunct Professor of Finance at Yale University's School of Management and Editor of the Journal of Portfolio Management. He is the author or editor of over 100 books on finance and investing.
Download or read book Foundations of Economic Value Added written by James L. Grant and published by John Wiley & Sons. This book was released on 2003-05-05 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: An updated look at the role of economic profit analysis in the process of wealth creation Grant explains the pivotal role of economic value added (EVA) in the theory of finance, how to measure EVA with standard accounting adjustments, how to use EVA to value companies and their stock, and how to use economic profit principles to identify wealth-creating firms, industries, and even market economies.
Download or read book Cracking The Hidden Job Market written by Donald Asher and published by Ten Speed Press. This book was released on 2010-12-28 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: Can’t find a job? Maybe you’re seeing only half the picture! Half the job market is invisible Are you spending all your time applying to posted job openings—postings that draw hundreds, and in some cases, thousands of applications? No matter how perfect you are for the job, there is always someone else who’s a little more qualified, more experienced. The key to success in the current job market is breaking through to the hidden job market. Over half of all jobs go to someone who did not apply to a posted opening at all. What are they doing and how are they doing it? They’re finding new jobs before the posting hits the Internet. Career guru Donald Asher offers proven strategies for finding great opportunities in any industry. With Cracking the Hidden Job Market you’ll stop wasting time and effort and beat the job-search odds by learning how to: • find jobs that are never posted anywhere • get complete strangers to help you find a job • convince potential employers to give you an interview—even when they’re “not hiring” • find—and land—the new jobs in this, or any, economy Every page of Cracking the Hidden Job Market is packed with no-frills fundamentals to change the way you look for a job, this time—and forever!
Download or read book The Making of Global Capitalism written by Leo Panitch and published by Verso Books. This book was released on 2012-10-09 with total page 465 pages. Available in PDF, EPUB and Kindle. Book excerpt: No Marketing Blurb
Download or read book The Memorial History of Hartford County Connecticut 1633 1884 written by James Hammond Trumbull and published by . This book was released on 1886 with total page 726 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Locavesting written by Amy Cortese and published by John Wiley & Sons. This book was released on 2011-05-04 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: How individuals and communities can profit from local investing In the wake of the financial crisis, investors are faced with a stark choice: entrust their hard-earned dollars to the Wall Street casino, or settle for anemic interest rates on savings, bonds, and CDs. Meanwhile, small businesses are being starved for the credit and capital they need to grow. There's got to be a better way. In Locavesting: The Revolution in Local Investing and How to Profit from It, Amy Cortese takes us inside the local investing movement, where solutions to some of the nation's most pressing problems are taking shape. The idea is that, by investing in local businesses, rather than faceless conglomerates, investors can earn profits while building healthy, self-reliant communities. Introduces you to the ideas and pioneers behind the local investing movement Profiles the people and communities who are putting their money to work in their own backyards and taking control of their destinies Explores innovative investment strategies, from community capital and crowdfunding to local stock exchanges With confidence in Wall Street and the government badly shaken, Americans are looking for alternatives. Local investing offers a way to rebuild our nest eggs, communities, and, just perhaps, our country.
Download or read book Creating Cultural Monsters written by Julie B. Wiest and published by CRC Press. This book was released on 2011-06-06 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: Serial murderers generate an abundance of public interest, media coverage, and law enforcement attention, yet after decades of studies, serial murder researchers have been unable to answer the most important question: Why? Providing a unique and comprehensive exploration, Creating Cultural Monsters: Serial Murder in America explains connections bet
