Train like Bruce Lee - beat the market CONSISTENTLY
Guys,
This event is worth checking out - http://isv20101008.eventbrite.com/
The class will teach proven equity research techniques used by some of the largest hedge funds on Wall Street today.
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Deep forensic accounting to restate financial statements for far more accurate equity price predictions.
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Strategic valuation forecast based on management compensation (DEF-14A), knowing when management will drive the stock price to the toilet.
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Cognitive emotion analysis to find out when is management bullshitting on conference calls and when they are super hype about something.
You can add effective tools and methods to your long / short stock picking process to beat the market.
More proven strategy from successful hedge funds: Insider trading.
Well I am sure there is some of that. But it is really more of "insight trading".
Think about the largest hedge funds all get access to lots of valuable information that public doesn't have. But that doesn't necessary make it illegal. It's just that they form an investment opportunity around a thesis that they believe to be right, speculate on it with aggressive leverage with appropriate hedge.
The whole idea of this seminar is to teach flexible equity research techniques that can be adopted in different investment climate.
You're just trying to sell shit, you scum. First, if you had anything valuable to add about hedge fund strategies that a typical person could use and make valuable, you would make magnitudes more money keeping it to yourself. If you think it is unique research that gets people to short Lehman right before it explodes or buy absurd numbers of puts the day before Greece gets downgraded, you're just crazy.
Am I missing something here? If the market drives value, and you're using a methodology to value an asset that the rest of the market isn't using (likely for a very good reason, but thats another story), then your valuation, no matter how "accurate" is worthless since the market will never prescribe that value to the asset therefore your valuation will never be realized.
Well a typical person obviously can't trade like hedge fund. But it doesn't mean that they can't learn something from great investors. There are certain methods and principles great investors follow. Obviously an individual is not going to leverage 5 times to bet on a position, so in that case, I can't either personally. It's just a totally different investment dynamic - typical individual vs. funds. That said, it doesn't mean we won't be able to launch our own hedge fund someday with the strategies here.
So where did you learn all of this? How much is Booth charging you to rent out the place?
@Marcus_Halberstram
Are you kidding me? A valuation method that the rest of the market isn't using? Isn't that the point of seeking alpha? What kind of investors would outperform by following what the rest of the market is doing. Every successful buy side shop has their own analysis methods that they will never reveal.
Of course market drives value, but isn't the whole point of beating the market is to know when the market expectation is wrong? Too high or too long, You bet against it.
What forensic accounting will do is to completely turnover the flawed financial statements. Management continues to play games on their accounting to make their # look good, to hit their bonus, to drive short term stock price.
Wouldn't you want to clean up the cash flow statement before you do your DCF analysis? Without restating them, how can cash flow forecast reflect the true business performance driver. The valuation will just be flat out crap.
My point is that a DCF valuation means absolutely NOTHING if the value the market is prescribing to an asset is based on.... say book value of assets. Therefore if you're using a valuation methodology that -- even if it is deemed ACCURATE by every expert from here to Jupiter -- isn't adopted by market participants, no one is willing to pay your ask.
Investors looking to realize alpha by prescribing a value to an asset that the overall market is not seeing take such a position because they are of the belief that there will be some sort of catalyst that will bring the market to eventually share their view. So for example, you determine that (EBITDA + Super Duper Secret Adjustment) (basically what this guy is trying to sell you) is the most accurate metric to gauge Google's value. This tells you Google is grossly undervalued, so you buy it. When the market realizes that the Super Duper Secret Adjustment is necessary to determine the ACTUAL value of Google, they will pay YOUR price and you will have realized alpha. The realization that the Super Duper Secret Adjustment must be taken into account is the catalyst. If they never adopt or believe in this assumption, they will never give the asset credit for that piece of value... and although your valuation may be "more right" it doesn't mean shit.
@Jerome Marrow
Well our company serves large hedge funds. So I am just speaking from what I have experienced in my own world. Here is a good book if you are interested in learning more about some of the trading strategies behind top hedge fund legends - http://www.amazon.com/More-Money-Than-God-Making/dp/1594202559
I don't know how much Booth charge. Our education division arranged that venue.
LOL serves large hedge funds? Come on you can't even afford your own website and have resorted to spamming forums filled with mostly people under 25.
Ya. Cuz we figure most under 25 needs more financial training, like yourself buddy. Great place to educate.
So you figure you'll charge circa $700 to train them in ways that you have not even and cannot implement yourself? Right.
As a boutique equity research shop, we don't run money. But sure, clients implement our ideas and recommendations.
@dorsia
There's no mention of encouraging anyone to break into any industry. Either you got it or no. Every shop's approaching things differently. I don't know if you can learn your way in.
That said, some new perspectives can certainly help people rethink their equity analysis approach, why not?
Philosophically there is some consistency between what successful money managers would do to pick their investments, something to learn from. Why all the Tiger Clubs consistently manage the best hedge funds on the Street? Why Ben Graham apprentices all became super successful? Is there any correlation? Some people believe so.
Market is far from efficient. There are ways to exploit it consistently. Weak EMH, do you trust all the past data the company feeds you?
I don't know what Jim Cramer said and I don't know what you consider weak. Your argument and comments aren't making much sense.
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