How to learn Equity Valuation
Hi,
Does anybody know some good resources of equity valuation crash courses or learning materials?
Thanks.
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Here's a book:
http://people.stern.nyu.edu/adamodar/pdfiles/papers/littlebookvaln.pdf
Here's a website: http://pages.stern.nyu.edu/~adamodar/
You can also download CFA level 2 curriculum or Schweser notes. There's a large portion on equity valuation and it's not too complex.
Thank you very much!
http://www.independent-stock-investing.com/Discounted-Cash-Flow.html
http://www.macabacus.com/valuation/enterprise-value (in the 'Topics' tab drop down menu check 'Valuation' and there is a DCF template in the LBO tab as well .. i know it will be different due to its purpose being entirely different .. but you can modify it to suit your needs)
http://www.wallstreetoasis.com/forums/books-for-wannabe-equity-research…
check all the links in this link ... it will help you understand valuation more in-depth
Equity Valuation Reads for Macro Analyst (Originally Posted: 12/28/2012)
I've been at a large global macro fund for around 3 yrs and want to learn more about equity valuations. I feel that I have a pretty good grasp for trading equities at a macro level, but want to gain some perspective on how to think through long-short equity frameworks. Most of my sector understanding lies in financial (primarily banks) and I currently enjoy trading finanials sectors on a diff basis to aggregate country equity markets and sectors in other countries but feel as if my understanding of valuations is much less robust than it ought to be.
Would love some recommendations on reads and also recommendations on other equity sectors that are easy to grasp with a macro background.
Also - if this helps, I have no sell-side experience so I am really pretty removed from any valuations used within the banking world.
Thanks in advance for the help guys, And PM me for more specifics if interested.
I have nothing to offer, but I'd be curious to know any reading recommendations for thinking about trading equity sectors in a macro framework you may be willing to share. I've also been trading equity sector's diff'd against general national equity markets and against the analogous sector in a different country for a while, but haven't been able to find much literature on the topic.
Best way is to sign up for a guest membership at sites like VIC and DDIC and just read the write-ups. If you don't understand a concept, google it or ask around until you do. No easy path - got to put the grind in.
PM me. Interested in the exact opposite...macro focus and how it can affect my picks.
Similar position as yahoo and also interested.
Anything to share publically on this topic? :)
Honestly many "bottoms up" long-short funds are making macro/basket bets disguised as stock picks for a portion of their portfolio. Lots of reasons for this but post-2008/2009 many managers realize they can't just ignore macro (esp when its driving performance and LPs keep asking their opinions/views on it)
I think I can be helpful but need some more info. Walk through how you would put on an equity trade based on a macro framework. I find it a lot easier to help people bridge to new concepts based on what they already know vs. explaining in a vacuum.
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