Customer Reviews

Equity Asset Valuation (CFA Institute Investment Series)

5 star:		(2)
4 star:		(2)
3 star:		(1)
2 star:		(0)
1 star:		(1)

 

 

It is an extremely important reference book because I am preparing for CFA Level II exam. I've found the book an introductory one to illustrate basic concept in investment industry. Any one who wants to enter the investment banks,mutual funds,asset manangement corps. should have this book in hand.

I strongly recommend it to all candidates on the road to getting CFA charter, and other partitioners in investment field may also find it helpful.

This was one of the better finance books I've come across and a definite keeper for reference. Instead of mindless rambling or chocked full of jargon, the material was concise yet contained enough detail to cover all aspects of equity valuation that one might need to know suitable for the CFA Level II prep. But even for laypeople who have no intention of taking the CFA, this book will be very easily understandable with just a rudimentary background in basic finance theory.

The layout is very logical, basically covering the four important aspects of equity valuation: DDM, Free cash flow models, price multiples, and residual income. Under each of these, the reading builds up to form a bigger picture of what needs to be understood. Examples are very clear and do not rely on specific methods of solving, such as being only relegated to math equations, spreadsheets, or financial calculators. You basically can approach any of the problems in whatever way you want. The emphasis is on understanding rather than route "do it my way" methods. The book appears to have been very well proofread, so you don't find numerical errors that can make you pull your hair out as with other books.

There is also a workbook for this series but at my time of writing, it has yet to be released. When it is out, I would give this book series six stars in strength.

This book is the same book with a different name. The first edition was called "Analysis of Equity Investment Valuation." After reviewing the table of contents as well as several chapters, I have the following to report: The Table of Contents is the same; and the rest of the book is the same, too. The pages don't exactly match because in the new book the block paragraph style has been chosen.

You do not need this book for the CFA. If you call the Institute, they will tell you not to purchase the source books because the program has been tailored specifically for the candidates. Instead, the Institute mandates that you buy the "program".

If you really want the book, then buy the old version for a fraction of the cost. The content is the same.

I teach Investment Analysis & Portfolio Management to undergraduate Finance majors and have found this book to be very effective in teaching equity valuation models from a fundamental analysis standpoint. There are many specific valuation examples used throughout the book making it very useful for Finance students learning how to implement intrinsic stock valuation. Although the concepts are considered intermediate-level Finance topics, the language of the authors is easy to understand and not too difficult to grasp.

You can find a lot of free information about P/E en EBITDA on the internet but this book gives a good overview for the investor who is interested in fundamental analysis.

Buyers Beware, sells the very old version of the book and does not mention it. If you think you are getting a good deal then you would be surprised when you receive the book.
Do business with this guy at your own risk