Equity Investment Management: How to Select Stocks and Markets

Equity-oriented, it explains how to analyze stocks and markets and construct a portfolio. Outlines complex theories in a simple and intuitive manner. Statistical and mathematical concepts are discussed in an accessible way. Contains the latest information on UK and US empirical studies.

Stephen Lofthouse's career spanned both the academic and commercial investment worlds. He is a former Director of James Capel stockbrokers, now part of HSBC group, and Executive Chairman of James Capel FundManagers Ltd and James Capel Unit Trust Management Ltd.

Part 1: Introduction and Basic Financial Theory

1. Introduction

2. Risk, Return and Diversification

3. The Capital Asset Pricing Model

4. The Nearly Efficient Market

5. How Analysts Analyse and How Managers Manage

Part 2: Stock and Sector Selection

6 Assessing Investment Systems

7 Earnings-Based Share Selection

8 Dividend Discount Models

9 Price-Earnings Ratio Models

10 Low PER and Low PSR Stocks

11 Low Price and Small Stocks

12 Dividend Matters

13 Book-to-Market and Other Accounting Ratios

14 Creative Accounting and Bankruptcy

15 Neglected and New Stocks

16 Following Recommendations

17 Calendar Effects

18 Technical Analysis and Contrary Opinion

19 Arbitrage Pricing Theory

20 Sector Strategy

21 Constructing a Share Portfolio

Part 3: Strategic and Tactical Asset Allocation

22. Setting Strategic Weights

23. Tactical Asset Allocation: Background

24. Forecasting The Economy

25. Business Cycle Anticipation and Scenario Forecasting

26. Price-Earnings Ratio Valuation Measures

27. Yield and Dividend Valuation Measures

28. Liquidity and Technical Titbits

29. International Tactical Asset Allocation

30. Combining Tactical Asset Allocation Tools

Part 4: Aspects of International Asset Allocation

31. Selecting Japanese Stocks

32. The Japanese Market Level

33. Emerging Markets

Part 5: Winning.

Part 6: Passive Investment Management.

Written for investors and students taking investment exams, this text describes how to analyze stocks and markets, and how to construct a portfolio. Statistical and mathematical information is discussed in a straightforward manner which should be accessible to non-mathematicians.

Published byJohn Wiley & Sons(1994)

Stephen Lofthouse's career spanned both the academic and commercial investment worlds. He is a former Director of James Capel stockbrokers, now part of HSBC group, and Executive Chairman of James Capel FundManagers Ltd and James Capel Unit Trust Management Ltd.

Part 1: Introduction and Basic Financial Theory

1. Introduction

2. Risk, Return and Diversification

3. The Capital Asset Pricing Model

4. The Nearly Efficient Market

5. How Analysts Analyse and How Managers Manage

Part 2: Stock and Sector Selection

6 Assessing Investment Systems

7 Earnings-Based Share Selection

8 Dividend Discount Models

9 Price-Earnings Ratio Models

10 Low PER and Low PSR Stocks

11 Low Price and Small Stocks

12 Dividend Matters

13 Book-to-Market and Other Accounting Ratios

14 Creative Accounting and Bankruptcy

15 Neglected and New Stocks

16 Following Recommendations

17 Calendar Effects

18 Technical Analysis and Contrary Opinion

19 Arbitrage Pricing Theory

20 Sector Strategy

21 Constructing a Share Portfolio

Part 3: Strategic and Tactical Asset Allocation

22. Setting Strategic Weights

23. Tactical Asset Allocation: Background

24. Forecasting The Economy

25. Business Cycle Anticipation and Scenario Forecasting

26. Price-Earnings Ratio Valuation Measures

27. Yield and Dividend Valuation Measures

28. Liquidity and Technical Titbits

29. International Tactical Asset Allocation

30. Combining Tactical Asset Allocation Tools

Part 4: Aspects of International Asset Allocation

31. Selecting Japanese Stocks

32. The Japanese Market Level

33. Emerging Markets

Part 5: Winning.

Part 6: Passive Investment Management.

Written for investors and students taking investment exams, this text describes how to analyze stocks and markets, and how to construct a portfolio. Statistical and mathematical information is discussed in a straightforward manner which should be accessible to non-mathematicians.

Published byJohn Wiley & Sons(1994)

ISBN 10: 0471941700 ISBN 13: 9780471941705

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