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Advanced Approaches to Stock Selection explores contemporary investment concepts and tools for improving the stock selection process. The expert contributors examine various investment strategies organized around growth, value, size and sector rotation from a number of different perspectives. Price-momentum strategies, such as covariance and factor analysis, are also explored, which serves to highlight the view that out performance comes from a variety of different approaches.
The stock selection approaches covered in the book include:
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Growth-at-a-reasonable-price: a low-to-consistent-growth-rate strategy based on the notion that cost is as important as quality in selecting stocks. In essence, it represents an effort to harness the principles of value investing to the process of selecting growth stocks.
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Portfolio management in the information age: valuation tools for knowledge based companies.
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The uses and limitations of Economic Value Added (EVA); how it can best be used.
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How ESR (enterprise value to sales) may be a better indicator than P/E for evaluating investment prospects.
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How normalized ROE is an important measure for identifying profitable companies with undervalued shares.
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How proper application of valuation tools such as price-to-earnings and price-to-book can add value to sector and style rotation strategies.
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Enhanced indexing portfolio construction techniques.
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The different multifactor equity models professionals use to achieve superior returns.
Obviously, not all strategies are created equal but having a framework is as important as the focus of the framework itself; consistency adds value almost by definition. Packed with contemporary research findings and practices, this book breaks new ground in thinking about the stock selection process in more robust ways and from a number of different perspectives.
ISBN-10: 8170945720 | ISBN-13: 9788170945727
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Pages : 176
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