Deepen your practical understanding of equity investment analysis and valuation Equity Asset Valuation, Third Edition is a complete guide to valuation theory and practice, giving you the best and most comprehensive information on equity investments. Written by a team of experts and published with the CFA, this book is an ideal supplementary text for the Level 3 CFA certification program. This new third edition has been completely revised and updated to align with current regulations and practices, with illustrative in-chapter problems, extensive end-of-chapter questions, and problems with complete solutions. Merging accounting and finance delivers a full range of valuation models, and challenges you to determine which models are appropriate for specific situations. Coverage includes the basic DDM, Markowitz and Sharpe's modern portfolio theory, Graham and Dodd valuation concepts, and more including full guidance toward multiple approaches. The workbook provides additional practice, with summaries and questions and answers for each chapter, giving you the hands-on opportunity to reinforce your understanding.
Investors use a range of fundamental analysis, technical analysis, and other valuation techniques to estimate the most positive and profitable shares to invest in. This set provides comprehensive instruction alongside plenty of practice to help you fully understand how and when to apply each technique.
- Understand the equity valuation process
- Derive the required rate of return
- Integrate earning power and market multiples
- Learn multiple approaches to various valuation methods
Valuation is necessarily a complex topic, and an even more complex process. When the stakes are high, you need to be able to choose the right tool for the job. The Equity Asset Valuation, Third Edition provides the most comprehensive information, with useful, practical reinforcement.
About the Author: John D. Stowe, Ph.D., CFA, is a Professor of Finance and Associate Dean at the University of Missouri-Columbia. He earned his Ph.D. in economics from the University of Houston. Thomas R. Robinson, Ph.D., CPA, CFP, CFA, is an Associate Professor of Accounting at the University of Miami. He earned his Ph.D. in accounting with a minor in finance from Case Western Reserve University.
Jerald E. Pinto, CFA, is Director in the CFA Program Division at CFA Institute. He holds an MBA from Baruch College and a Ph.D. in finance from the Stern School. Dennis W. McLeavey, CFA, is Director responsible for curriculum at CFA Institute. He holds a doctorate in production management and industrial engineering from Indiana University. With a foreword by George H. Troughton, Ph.D., CFA, is a Professor of Finance at California State University, Chico. He holds a Ph.D. in finance from the University of Massachusetts-Amherst.
Thomas R. Robinson, CFA (Charlottesville, VA), is Head, Educational Content, in the Education Division of CFA Institute.
Jerald E. Pinto, CFA (Charlottesville, VA), is Director, Curriculum Projects at CFA Institute.
Dennis W. McLeavey, CFA (London, UK), is Head, Education EMEA at CFA Institute.
