Price and Value: A Guide to Equity Market Valuation Metrics by George Calhoun (E

Description: Price and Value by George Calhoun Estimated delivery 3-12 business days Format Paperback Condition Brand New Description Intermediate-Advanced user level Publisher Description Understand how to use equity market metrics such as the price/earnings ratio (and other multiples) to value public and private enterprises. This essential book gives you the tools you need to identify and qualify investments and assess business strategy and performance.Author George Calhoun, Founding Director of the Quantitative Finance Program at Stevens Institute of Technology, shows you how to use metrics to appraise mergers, acquisitions, and spin-offs. You will be able to shed light on financial market conditions, benchmark fair value assessments, and check and calibrate complex cash flow models.Market multiples share a peculiar construction: they are based on an explicit apples-to-oranges comparison of market prices with accounting fundamentals, combining data derived from two very different sources and methodologies. This creates ambiguities in interpretation that can complicate the application of these metrics for the many purposes.Multiples are thus easy to construct, but they can be difficult to interpret. The meanings of certain multiples have evolved over time, and new-and-improved versions have been introduced. The field is becoming more complex and the question of which metrics perform best can be a source of controversy.What You Will Learn Know the definitions, interpretations, and applications of all major market ratios, including: price/earnings (trailing and forward), cyclically adjusted price/earnings, cash-adjusted price/earnings, EV/EBITDA, price/sales, dividend yield, and many moreExamine the factors that drive the values of ratios from firm level (such as earnings growth, leverage, and governance) to market level (such as inflation, tax and fiscal policy, monetary policy, and international characteristics)Apply metrics in: investment analysis, index construction, factor models, sum-of-the-parts analysis of corporate structures, and detection of asset bubblesWho This Book Is ForProfessionals at all levels working in the finance industry, especially in fields related to investment management, trading, and investment banking who are involved with valuation and assessing and advising on corporate transactions and interpreting market trends, and university students in finance-related programs at the undergraduate and graduate levels Author Biography George Calhoun is a professor, and founding director of the Quantitative Finance Program at the Stevens Institute of Technology. He is also is executive director of the Hanlon Financial Systems Center at Stevens, and area coordinator for the graduate and undergraduate finance programs at Stevens. George is the series editor for the Stevens Series in Quantitative Finance & Data Sciences, a book series launched in 2014 with Springer/Apress. He has a PhD from the Wharton School. George has 30 years of experience in the technology industry: in executive and board-level positions at several public companies, including as CEO, chairman of the board (two companies), and audit committee chairman (four companies). He has extensive experience in capital acquisition through public offerings (five), convertible and straight debt offerings, private placements, joint ventures, and venture capital transactions. And he is the author of three books on advanced signal processing technology and applications to the telecommunications field. Details ISBN 1484255518 ISBN-13 9781484255513 Title Price and Value Author George Calhoun Format Paperback Year 2020 Pages 391 Edition 1st Publisher APress GE_Item_ID:126823645; About Us Grand Eagle Retail is the ideal place for all your shopping needs! With fast shipping, low prices, friendly service and over 1,000,000 in stock items - you're bound to find what you want, at a price you'll love! Shipping & Delivery Times Shipping is FREE to any address in USA. Please view eBay estimated delivery times at the top of the listing. Deliveries are made by either USPS or Courier. We are unable to deliver faster than stated. International deliveries will take 1-6 weeks. NOTE: We are unable to offer combined shipping for multiple items purchased. This is because our items are shipped from different locations. 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