Security Valuation and Risk Analysis: Assessing Value in Investment Decision Making - Couverture rigide

Hackel, Kenneth

Couverture rigide

ISBN 10 : 0071744355 ISBN 13 : 9780071744355

Editeur : McGraw-Hill Professional, 2010

Synopsis

A superior new replacement to traditional discounted cash flow valuation models

Executives and corporate finance practitioners now have a more reliable discount rate to value companies and make important business and investment decisions. In today's market, it’s free cash flow, cost of capital and return on invested capital that really matters, and now there's a superior tool to help analyze these metrics―Security Valuation and Risk Analysis.

In this pioneering book, valuation authority Kenneth Hackel presents his next-generation methodology for placing a confident value on an enterprise and identifying discrepancies in value―a system that will provide even themost well-informed investor with an important competitive advantage.

At the core of Security Valuation and Risk Analysis is Hackel's successful credit model fordetermining an accurate fair value and reliable discount rate for a company. Using free cash flow as the basis for evaluating return on invested capital is the most effective method for determining value. Hackel takes you step by step through years of compelling evidence thatshows how his method has earned outsized returns and helped turn around companies that were heading toward failure.

Whether used for corporate portfolio strategy,acquisitions, or performance management, the tools presented in Security Valuation and Risk Analysis are unmatched in their accuracy and reliability. Reading through this informative book, you'll discover how to:

• Take advantage of early warning signs related to cash flow and credit metrics
• Estimate the cost of equity capital from which free cash flows are discounted
• Identify where management can free up resources by using a better definition of free cash flow

Security Valuation and Risk Analysis provides acomplete education on cash flow and credit, from how traditional analysts value a company and spot market mispricing (and why many of those traditional methods are obsolete) to working with the most recent financial innovations, including derivatives, special purposeentities, pensions, and more.

Security Valuation and Risk Analysis is youranswer to a credit market gone bad, from an expert who knows bad credit from good.

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À propos de l?auteur

McGraw-Hill authors represent the leading experts in their fields and are dedicated to improving the lives, careers, and interests of readers worldwide

Détails de l'édition

• Éditeur: McGraw-Hill Professional
• Date d'édition: 2010
• Langue: anglais
• ISBN 10: 0071744355
• ISBN 13: 9780071744355
• Reliure: Relié
• Nombre de pages: 614
• Coordonnées du fabricant: non disponible
• Personne responsable: non disponible