Damodaran Investment Philosophies

Successful Strategies and the Investors Who Made Them Work
2. Auflage 2012
ISBN: 978-1-118-22192-1
Verlag: John Wiley & Sons
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 608 Seiten, E-Book

Reihe: Wiley Finance Editions

The guide for investors who want a better understanding ofinvestment strategies that have stood the test of time
This thoroughly revised and updated edition of InvestmentPhilosophies covers different investment philosophies andreveal the beliefs that underlie each one, the evidence on whetherthe strategies that arise from the philosophy actually produceresults, and what an investor needs to bring to the table to makethe 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 moreinvestment philosophies.
* Presents the tools needed to understand portfolio managementand the variety of strategies available to achieve investmentsuccess
* Explores the process of creating and managing a portfolio
* Shows readers how to profit like successful value growth indexinvestors
* Aswath Damodaran is a well-known academic and practitioner infinance who is an expert on different approaches to valuation andinvestment
This vital resource examines various investing philosophies andprovides you with helpful online resources and tools to fullyinvestigate each investment philosophy and assess whether it is aphilosophy that is appropriate for you.

Autoren/Hrsg.

Damodaran, Aswath

Inhaltsverzeichnis

Chapter 1: Introduction
What Is An Investment Philosophy?
Why Do You Need An Investment Philosophy?
The Big Picture of Investing
Categorizing Investment Philosophies
Developing an Investment Philosophy
Conclusion
Exercises
Chapter 2: Upside, Downside: Understanding Risk
What Is Risk?
Equity Risk: Theory-based Models
Assessing conventional risk and return models
Equity Risk: Alternative Measures
Equity Risk: Assessing the Field
Default Risk
Conclusion
Exercises
Chapter 3: Numbers Don't Lie Or Do They?
The Basic Accounting Statements
Asset Measurement and Valuation
Measuring Financing Mix
Measuring Earnings and Profitability
Measuring Risk
Differences in Accounting Standards and Practices
Conclusion
Exercises
Chapter 4: Show Me the Money: The Basics of Valuation
Intrinsic Value
Relative Valuation
Valuing an Asset with Contingent Cash Flows (Options)
Conclusion
Exercises
Chapter 5: Many a Slip: Trading, Execution, and Taxes
The Trading Cost Drag
The Components of Trading Costs: Traded Financial Assets
Trading Costs with Non-traded Assets
The Management of Trading Costs
Taxes
Conclusion
Exercises
Chapter 6: Too Good to Be True? Testing Investment Strategies
Why Does Market Efficiency Matter?
Efficient Markets: Definition and Implications
Behavioral Finance: The Challenge to Efficient Markets
A Skeptic's Guide to Investment Strategies
Conclusion
Exercises
Chapter 7: Smoke and Mirrors? Price Patterns, Volume Charts and Technical Analysis
Random Walks and Price Patterns
Empirical Evidence
The Foundations of Technical Analysis
Technical Indicators and Charting Patterns
Conclusion
Exercises
Chapter 8: Graham's Disciples: Value Investing
Who is a Value Investor?
The Passive Screener
The Contrarian Value Investor
Activist Value Investing
Conclusion
Exercises
Chapter 9: The Allure of Growth: Small Cap and Growth Investing
Who is a Growth Investor?
Passive Growth Investing
Activist Growth Investing
Conclusion
Exercises
Chapter 10: Information Pays: Trading On News
Information and Prices
Trading on Private Information
Trading on Public Information
Implementing an Information-based Investment Strategy
Conclusion
Exercises
Chapter 11: A Sure Profit: The Essence of Arbitrage
Pure Arbitrage
Near Arbitrage
Speculative Arbitrage
Long Short Strategies - Hedge Funds
Conclusion
Exercises
Chapter 12: The Impossible Dream? Timing the Market
Market Timing: Payoff and Costs
Market Timing Approaches
The Evidence on Market Timing
Market Timing Strategies
Market Timing Instruments
Connecting Market Timing to Security Selection
Conclusion
Exercises
Chapter 13: Ready to Give Up? The Allure of Indexing
The Mechanics of Indexing
A History of Indexing
The Case for Indexing
Why Do Active Investors Not Perform Better?
Alternative Paths to Indexing
Conclusion
Exercises
Chapter 14: A Roadmap to Choosing an Investment Philosophy
A Self Assessment
Finding an Investment Philosophy
The Right Investment Philosophy
Conclusion
Exercises
Index

Über Autor(innen)

ASWATH DAMODARAN is Professor of Finance at New YorkUniversity's Leonard N. Stern School of Business. He has been therecipient of numerous awards for outstanding teaching, includingthe NYU university-wide Distinguished Teaching Award, and was namedone of the nation's top business school teachers byBusinessWeek in 1994. In addition, Damodaran teachestraining courses in corporate finance and valuation at many leadinginvestment banks. His publications include InvestmentValuation (now in its third edition), Damodaran onValuation: Security Analysis for Investment and Corporate Finance;Corporate Finance; Investment Management; and AppliedCorporate Finance, all published by Wiley, and The Dark Sideof Valuation.