The Informational Value Of Stock Analyst Recommendations For Long Term Oriented Investors

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The Informational Value of Stock Analyst Recommendations for Long-Term Oriented Investors

Author : Thorben Wegner
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (92 download)

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Book Synopsis The Informational Value of Stock Analyst Recommendations for Long-Term Oriented Investors by : Thorben Wegner

Download or read book The Informational Value of Stock Analyst Recommendations for Long-Term Oriented Investors written by Thorben Wegner and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This Master's thesis documents an empirical study on the quality of equity investment research particularly for investors whose target stock holding periods exceed the short term. A data sample comprising stock recommendations on large-capitalization stocks from both Germany and Switzerland is utilized in connection with event study methodology to generate insights into the immediate price impact of recommendations as well as the stock price development in the twelve months after their respective release. The obtained results exhibit a rather short-lived positive price shock immediately following the dissemination of favorable recommendations and a persistent negative price drift induced by negative recommendations - also when controlling for analyst herding effects. In consequence, the results of this thesis suggests a lack of informational value in favorable analyst recommendations, while "Underperform" and "Sell" recommendations appear to be valuable investment guidance on average. Missing independence of equity research services in brokerage houses from investment banking clients is discussed as the main reason for the explored informational value asymmetry.

The Value Connection

Author : Marc H. Gerstein
Publisher : John Wiley & Sons
ISBN 13 : 0471464910
Total Pages : 354 pages
Book Rating : 4.4/5 (714 download)

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Book Synopsis The Value Connection by : Marc H. Gerstein

Download or read book The Value Connection written by Marc H. Gerstein and published by John Wiley & Sons. This book was released on 2003-10-07 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: A market beating method for finding success in trading stocks Value is a concept that frequently eludes investors -- especially when it comes to stocks. In many cases, successfully identifying value can make the difference between picking a winner and getting burned. The Value Connection offers a systematic and doable method investors can use to take advantage of value in the stock market. Based on author Marc Gerstein's "Value Connection" method, this book will show investors how to find potentially attractive value connections, analyze specific situations to see if the value connection is sound, buy the best value connected opportunities, and sell stocks for which the value connection has weakened. The proven four-step method outlined -- which allows investors to understand the relationship between a company and its stock -- will help any investor screen the stock market for the best values out there. Real world examples make understanding this revolutionary investing method easy. Marc H. Gerstein (New York, NY) is the Director of Investment Research at Multex. Prior to that, he was in the research and editorial department at Value Line. Over the course of two decades he analyzed stocks across a wide variety of industries and sectors, including household products, specialty retail, restaurants, mining, energy, hotel/gaming, homebuilding, airlines, railroads, and media. Gerstein appears periodically on CNNfn, Bloomberg TV, and is often quoted in USA Today, CBS MarketWatch, The Wall Street Journal, The New York Daily News, and Money Online. He is also the author of Screening the Market (0-471-21559-7).

The Research Driven Investor

Author : Timothy Hayes
Publisher : McGraw-Hill Companies
ISBN 13 :
Total Pages : 328 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis The Research Driven Investor by : Timothy Hayes

Download or read book The Research Driven Investor written by Timothy Hayes and published by McGraw-Hill Companies. This book was released on 2001 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: The editor of "Investment Strategy" shows how individual investors can access institutional-quality tools, data, and indicators and consistently beat the market. Hayes presents walk-through examples of a wide variety of investment models based on more than 100 years of stock market data and research from Ned Davis Research to achieve top results. 120 illustrations. 60 tables.

Financial Analysts and Information Processing on Financial Markets

Author : Jan-Philipp Matthewes
Publisher : BoD – Books on Demand
ISBN 13 : 3945021073
Total Pages : 185 pages
Book Rating : 4.9/5 (45 download)

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Book Synopsis Financial Analysts and Information Processing on Financial Markets by : Jan-Philipp Matthewes

Download or read book Financial Analysts and Information Processing on Financial Markets written by Jan-Philipp Matthewes and published by BoD – Books on Demand. This book was released on 2015-01-28 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial analysts play an ambivalent role on financial markets: On the one hand investors and the media frequently follow their advice, on the other hand they are regularly discredited when their forecasts or recommendations prove to be erroneous. This cumulative thesis explores the informational content of financial analysts’ forecasts for investors by addressing three specific topics: Consensus size as a rudimentary investment signal, the association of analysts’ target prices with business sentiment, and the consistency of analysts’ different investment signals in the context of the 2008 financial crisis. Overall, the thesis provides additional evidence that investors can profit from analysts’ forecasts and recommendations. However, it is also shown that investors need to be very selective about which signal to rely on and in which context to use these because analysts’ investment signals can also be heavily biased and erroneous. About the author: Jan-Philipp Matthewes studied ‘Economics’ at the University of Cologne, Germany, and holds a Dean’s Award from the Faculty of Economics and Social Sciences. His research focus on financial analysts evolved while working in equity research at a leading German bank. The PhD-thesis was supervised by Prof. Dr. Martin Wallmeier, Finance and Accounting, at the University of Fribourg, Switzerland. Since 2013 Jan-Philipp Matthewes is the managing director of the boutique private equity firm ‘Matthewes Capital Invest GmbH’.

Stocks for the Long Run

Author : Jeremy J. Siegel
Publisher : McGraw-Hill Companies
ISBN 13 :
Total Pages : 328 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Stocks for the Long Run by : Jeremy J. Siegel

Download or read book Stocks for the Long Run written by Jeremy J. Siegel and published by McGraw-Hill Companies. This book was released on 1998 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Siegel's conclusion - that, when long-term purchasing power is considered, stocks are actually safer than bank deposits! - is now strengthened with updated research findings and information that include a thorough analysis of the "Dow 10" and other yield-based strategies that have captivated investors over the past several years; how the Baby Boom generation will change the stock market forever - knowledge that can energize your own portfolio's performance; the amazing effect of the calendar on stock market performance - and how investing at certain times of the year can enhance performance; how the newest tax laws impact your investment returns and the funding of your retirement account; analyses and performance comparisons of highly publicized market sectors such as small cap stocks, growth stocks, and the "Nifty Fifty" stocks; and how Wall Street pros use investor sentiment and Fed policy to successfully time stock purchases over the investment cycle."--BOOK JACKET.Title Summary field provided by Blackwell North America, Inc. All Rights Reserved

Fire Your Stock Analyst!

Author : Harry Domash
Publisher : FT Press
ISBN 13 : 9780130353320
Total Pages : 424 pages
Book Rating : 4.3/5 (533 download)

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Book Synopsis Fire Your Stock Analyst! by : Harry Domash

Download or read book Fire Your Stock Analyst! written by Harry Domash and published by FT Press. This book was released on 2003 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent events prove that you can't always trust the so-called experts. This book gives investors the smarts to pick market-beating stocks on their own. Domash goes beyond the basics, and includes never before published advanced analysis strategies.

Company Valuation and Information in Analyst Forecasts

Author : Daniel Kreutzmann
Publisher : Logos Verlag Berlin GmbH
ISBN 13 : 3832525297
Total Pages : 141 pages
Book Rating : 4.8/5 (325 download)

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Book Synopsis Company Valuation and Information in Analyst Forecasts by : Daniel Kreutzmann

Download or read book Company Valuation and Information in Analyst Forecasts written by Daniel Kreutzmann and published by Logos Verlag Berlin GmbH. This book was released on 2010 with total page 141 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis focuses on the three primitive value drivers of each company valuation model that is based on fundamental analysis: the discount rate, the expected future payoffs during the explicit forecasting period, and the terminal value at the end of the explicit forecasting period. While the first factor is analyzed theoretically by incorporating the government into the classical valuation framework, this thesis studies the other two factors by investigating forecasts made by professional investors, i.e. financial analysts. In the first part we show that the government's and the shareholders discount rate usually differ and analyze how the government's and shareholders different objectives lead to conflicts in the context of capital budgeting. The empirical part of this thesis shows that macroeconomic information is frequently used by financial analysts when updating their earnings expecations and that target price forecastsmade by financial analysts can be used to predict abnormal returns.

501 Stock Market Tips and Guidelines

Author : Arshad Khan
Publisher : iUniverse
ISBN 13 : 0595227740
Total Pages : 238 pages
Book Rating : 4.5/5 (952 download)

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Book Synopsis 501 Stock Market Tips and Guidelines by : Arshad Khan

Download or read book 501 Stock Market Tips and Guidelines written by Arshad Khan and published by iUniverse. This book was released on 2002-06-12 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains 501 stock market lessons, guidelines and tips, which are grouped by various topics such as buying, selling, planning and research, picking winning characteristics, company analysis, valuation, price/earnings ratio, price performance, market behavior, technical analysis, monitoring the economy, miscellaneous tips and common mistakes to avoid. Novice as well as experienced investors will find this book useful, which is easy to read and follow because each tip is short, to the point, and grouped together with other tips that address the same topic. Therefore, an investor desirous of looking up tips on a specific subject, such as market behavior, will be able to find them in one place-in one chapter. The tips in this book provide a high level, summarized, overview. Therefore, it is ideally suited for refreshing the basic principles and rules of stock market investing. Hence, investors who desire to gain an in-depth knowledge of stock market investing are referred to the author's previously published book, "Stock investing for everyone: Tools for investing like the pros".

The Stock Market Course

Author : George A. Fontanills
Publisher : John Wiley & Sons
ISBN 13 : 0471036706
Total Pages : 464 pages
Book Rating : 4.4/5 (71 download)

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Book Synopsis The Stock Market Course by : George A. Fontanills

Download or read book The Stock Market Course written by George A. Fontanills and published by John Wiley & Sons. This book was released on 2002-02-28 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt: Avoid costly trading mistakes with this workbook that tests readers' investment knowledge No one enters the stock market in the hopes that they may actually lose money on their investments. Sadly, most do. Avoid expensive trading blunders with this hands-on workbook designed to test readers' investment savvy. Developed by a popular stock trading instructor, The Stock Market Course Workbook quizzes readers on their knowledge of the concepts presented in Fontanills's The Stock Market Course. Because mistakes are costly in the stock market, this accessible study guide provides readers with the opportunity to trade "fake money" before risking their real assets in the market. The invaluable lessons learned in this workbook could save readers thousands of dollars in investment mistakes.

Active Value Investing

Author : Vitaliy N. Katsenelson
Publisher : John Wiley & Sons
ISBN 13 : 0470053151
Total Pages : 310 pages
Book Rating : 4.4/5 (7 download)

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Book Synopsis Active Value Investing by : Vitaliy N. Katsenelson

Download or read book Active Value Investing written by Vitaliy N. Katsenelson and published by John Wiley & Sons. This book was released on 2007-09-28 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: A strategy to profit when markets are range bound–which is half of the time One of the most significant challenges facing today’s active investor is how to make money during the times when markets are going nowhere. Bookshelves are groaning under the weight of titles written on investment strategy in bull markets, but there is little guidance on how to invest in range bound markets. In this book, author and respected investment portfolio manager Vitaliy Katsenelson makes a convincing case for range-bound market conditions and offers readers a practical strategy for proactive investing that improves profits. This guide provides investors with the know-how to modify the traditional, fundamentally driven strategies that they have become so accustomed to using in bull markets, so that they can work in range bound markets. It offers new approaches to margin of safety and presents terrific insights into buy and sell disciplines, international investing, "Quality, Valuation, and Growth" framework, and much more. Vitaliy Katsenelson, CFA (Denver, CO) has been involved with the investment industry since 1994. He is a portfolio manager with Investment Management Associates where he co-manages institutional and personal assets utilizing fundamental analysis. Katsenelson is a member of the CFA Institute, has served on the board of CFA Society of Colorado, and is also on the board of Retirement Investment Institute. Vitaliy is an adjunct faculty member at the University of Colorado at Denver - Graduate School of Business. He is also a regular contributor to the Financial Times, The Motley Fool, and Minyanville.com.

The Streetsmart Guide to Overlooked Stocks

Author : George Fisher
Publisher : McGraw Hill Professional
ISBN 13 : 9780071406789
Total Pages : 330 pages
Book Rating : 4.4/5 (67 download)

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Book Synopsis The Streetsmart Guide to Overlooked Stocks by : George Fisher

Download or read book The Streetsmart Guide to Overlooked Stocks written by George Fisher and published by McGraw Hill Professional. This book was released on 2002 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: Without a doubt, millions of investors don't feel entirely comfortable researching their own stock selections. They invest in 401(k) plans, mutual funds and even individual stocks with only bare-bones investigation, turning to so-called investment gurus on financial news shows and headlines in newspapers for their information.

The Wealth of Enterprises

Author : William T. Nolan
Publisher : AuthorHouse
ISBN 13 : 1434346188
Total Pages : 250 pages
Book Rating : 4.4/5 (343 download)

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Book Synopsis The Wealth of Enterprises by : William T. Nolan

Download or read book The Wealth of Enterprises written by William T. Nolan and published by AuthorHouse. This book was released on 2008 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this book is to give the reader a definition of the Enterprise and a framework or method to analyze, manage and govern the Enterprise. This book is written for managers, directors and all those responsible for the stewardship of a Corporate Enterprise. It is written for students of management, both theoretical and practical. It is written for anyone who wants to create an Enterprise, especially the individual Entrepreneur. It is written for regulators so that they will better understand what they regulate and the true impact of their regulation. And finally, it is written for every member of any form of Enterprise, from the smallest Enterprise unit of a family to the largest of corporate or national Enterprise.

New Trends in Asset Management

Author : Enrica Bolognesi
Publisher : Springer Nature
ISBN 13 : 303135057X
Total Pages : 130 pages
Book Rating : 4.0/5 (313 download)

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Book Synopsis New Trends in Asset Management by : Enrica Bolognesi

Download or read book New Trends in Asset Management written by Enrica Bolognesi and published by Springer Nature. This book was released on 2023-06-14 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Pivot book focuses on both the essentials of asset management and current industry trends, specifically the development from an active management approach to a focus on ESG investments. The first part of the book outlines the dynamics that have traditionally characterised the asset management industry, including the distinction between active and passive portfolio management, the emergence of Exchange Traded Funds (EFTs) which have dominated portfolio allocation over the last 25 years, and the growth of the factor investing approach. It then explores how ESG principles have evolved into a primary focus for investors over the last few years, and how the growing importance placed on the establishment of homogeneous ESG criteria across companies now involves investors and asset managers as well as regulators. The final section of the book considers climate finance as a new challenge for asset management, which insists on portfolio choices that aim to mitigate the effects of climate change. This book offers new perspectives on the academic debate around differing investment philosophies as well as offering an empirical analysis of ESG benchmarks used across the industry. It will be of interest to academics and practitioners in finance and banking broadly, including those working in climate finance, investment behaviour, and corporate governance.

Smart Stock Analysis and Investing

Author : p d vadoliya
Publisher : p d vadoliya
ISBN 13 :
Total Pages : 95 pages
Book Rating : 4./5 ( download)

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Book Synopsis Smart Stock Analysis and Investing by : p d vadoliya

Download or read book Smart Stock Analysis and Investing written by p d vadoliya and published by p d vadoliya. This book was released on with total page 95 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fundamental analysis is important for long-term investing. While technical analysis is also important, understanding the fundamentals of a company is even more critical. However, many people find fundamental analysis challenging because it involves understanding complex terms and financial statements, such as balance sheets, cash flow statements, and various ratios. For beginners, terms like net income, revenue, and operating income can be difficult to grasp. This book aims to cover both basic and advanced financial terms in detail, with examples to help new investors understand them. By learning these fundamentals, you’ll be able to determine whether a stock is undervalued or overvalued. Nowadays, financial websites provide a lot of information, but they often lack a comprehensive view of a company's health. For example, seeing an EPS (earnings per share) figure of 25% might not tell you whether that’s good or bad without additional context. Similarly, understanding terms like ROE (return on equity) is important before making long-term investments. In the short term, technical analysis involves studying chart patterns, using various indicators, and considering news and other factors. However, fundamental analysis requires a deeper understanding of a company’s operations, income generation, expenses, and overall business model. By gaining a solid grasp of these basics, you can make more informed investment decisions and potentially achieve greater returns over time.

Tech Stock Valuation

Author : Mark Hirschey
Publisher : Elsevier
ISBN 13 : 0080492339
Total Pages : 291 pages
Book Rating : 4.0/5 (84 download)

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Book Synopsis Tech Stock Valuation by : Mark Hirschey

Download or read book Tech Stock Valuation written by Mark Hirschey and published by Elsevier. This book was released on 2003-09-18 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tech Stock Valuation extends the R&D literature by providing detailed direct evidence on the market value implications of inventive and innovative output. Specifically, the text demonstrates that stock-price effects of patent output are most pronounced in the case of high-quality patents, where patent quality is measured by scientific merit. Scientific measures of patent quality give students a valuable new tool that can be used to measure R&D program effectiveness. At the same time, it gives investors a new tool to help them assess the value of hard-to-measure intangible assets. The book is an ideal resource for professionals working in finance and accounting; investment professionals and industry analysts who work for companies that engage in research and development; MBA students; economists working in industrial organizations, microeconomics, and contract theory. Provides detailed direct evidence on the market value implications of inventive and innovative output Based on recent research, much of which Dr. Hirschey has pioneered Gives financial professionals a new tool for assessing R&D quality and its relation to market valuation

Ahead of the Market

Author : Mitch Zacks
Publisher : Harper Collins
ISBN 13 : 0061738794
Total Pages : 306 pages
Book Rating : 4.0/5 (617 download)

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Book Synopsis Ahead of the Market by : Mitch Zacks

Download or read book Ahead of the Market written by Mitch Zacks and published by Harper Collins. This book was released on 2009-03-17 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: Beat the Pros at Their Own Game All too often, you learn about good stocks far too late to profit from the information. By the time you actually buy a stock, professional investors have already been there, bought the stock, driven up the price, and are just waiting to unload it at an inflated price. All That's About to Change. . . . In Ahead of the Market, Mitch Zacks shows investors how they can spot stocks that are poised to take off long before the rest of the crowd learns about them. How? By unlocking the gems of priceless information buried in Wall Street's often self-serving research. Ahead of the Market is the first book, ever, that enables you to profitably use the analyst stock research for which Wall Street firms pay more than one billion dollars annually. Many investors have rightly felt misled in the past by analysts who continued to hype stocks as prices plummeted. You may have even concluded that Wall Street research is totally worthless. But it's not. In Ahead of the Market, Mitch Zacks shows that analysts actually provide a wealth of market-moving information that can generate exceptional returns if interpreted correctly.The key is to use the research produced by Wall Street analysts the same way the professional money managers do. Pioneered by the firm Zacks Investment Research and based on more than twenty years of intensive analysis, the investment strategies revealed in this book are indeed the same ones used by successful professional investors everywhere. In these pages you will learn how to form an investment plan by locating stocks that are poised for price appreciation and avoiding stocks heading for a fall. Zacks shows how you could have prevented being burned when the recent bubble burst, if you had known how to use analyst research correctly and teaches you the rules of the research game so you will not fall victim the next time around. In sum, this book is your guide to picking the right stock at the right time. Mitch Zacks's groundbreaking research provides new insights and new strategies to: Use revisions to analysts' earnings estimates to predict the rise and fall of stock prices Interpret the real meaning behind analysts' stock recommendations Employ the "cockroach" phenomenon and other methodologies to predict earnings surprises before they occur Determine how to react when a company reports earnings and how to profit from "post-earnings announcement drift" Understand and profit from "analyst creep"—the reason that earnings estimate revisions occur incrementally over time Avoid being duped by the games that companies play with their earnings reportsWhether the economy is healthy or stalled, whether the market is up or down, by focusing on the strategies contained in this book you will always come out ahead. Well-picked individual stocks will always carry the day. Now with Ahead of the Market, you will finally have the same tools institutional investors have and will be able to find great stocks in any market environment.

The Stock Market Explained

Author : Alvin Hall
Publisher : Hodder & Stoughton
ISBN 13 : 144472018X
Total Pages : 236 pages
Book Rating : 4.4/5 (447 download)

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Book Synopsis The Stock Market Explained by : Alvin Hall

Download or read book The Stock Market Explained written by Alvin Hall and published by Hodder & Stoughton. This book was released on 2012-04-12 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: Whether you are saving for a particular goal, planning towards retirement or simply maximising your capital, financial guru Alvin Hall helps you to: Make more informed choices about your investments. Learn basic analysis techniques to minimize risk and maximize reward. Understand your own risk tolerance and find an investment style that suits your personality and circumstances. Investing in the stock market can be a complex business, but with practical examples and clear definitions, Alvin makes it a highly accessible one, regardless of your investment experience. Fully revised and updated with the latest financial information, The Stock Market Explained provides easy comparisons of the features, benefits, rewards and risks among the different asset classes. This is the ultimate guide to feeling more comfortable (and smarter) about your investment decisions.