Screen LibraryExpectations investing : reading stock prices for better returns /
"Expectations investing is a stock-selection process that uses the market's own pricing model, the discounted cash flow model, with an important twist. Rather than forecast cash flows, expectations investing starts by reading the expectations implied by a company's stock price. This w...
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| Main Authors: | |
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| Group Author: | |
| Published: |
Columbia Business School Publishing,
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| Publisher Address: | New York, NY : |
| Publication Dates: | [2021] |
| Literature type: | Book |
| Language: | English |
| Edition: | Revised and updated. |
| Subjects: | |
| Summary: |
"Expectations investing is a stock-selection process that uses the market's own pricing model, the discounted cash flow model, with an important twist. Rather than forecast cash flows, expectations investing starts by reading the expectations implied by a company's stock price. This work builds on chapter 7 in coauthor Al Rappaport's seminal book, Creating Shareholder Value, called "Stock Market Signals to Management." That chapter told executives that they needed to be able to read the expectations built into the stock price of their company in order to understand how to generate superior stock price performance. Expectations Investing tailors that message to investors. The book is unique because rather than calculating a value for a business, as most investment books and textbooks suggest, expectations investing provides the tools to understand the expectations embedded in share price and to judge whether those expectations are reasonable. Gaps between fundamentals and expectations create opportunities to buy or sell a stock. This revised and updated edition will contain new frameworks, data, and case studies that reflect how these ideas still apply in today's investing world, which has changed greatly since the first edition's publication in 2001"-- |
| Item Description: |
Revised edition of the authors' Expectations investing, c2001. In previous edition the first author was Alfred Rappaport. |
| Carrier Form: | xvi, 250 pages : illustrations ; 24 cm |
| Bibliography: | Includes bibliographical references and index. |
| ISBN: |
9780231203043 0231203047 |
| Index Number: | HG4529 |
| CLC: |
F830.59 F830.91 |
| Call Number: | F830.91/R221/rev. and upd. ed. |
| Contents: | The case for Expectations Investing -- Part I. Gathering the tools: How the market values stocks -- The Expectations infrastructure -- Analyzing competitive strategy -- Part II. Implementing the process: How to estimate price-implied expectations -- Identifying Expectations opportunities -- Buy, sell, or hold? -- Beyond discounted cash flow -- Across the economic landscape -- Part III. Reading corporate signals and sources of opportunities: Mergers and acquisitions -- Share buybacks -- Sources of Expectations opportunities. |