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Product Description Navigate equity investments and asset valuation with confidence Equity Asset Valuation, Fourth Edition blends theory and practice to paint an accurate, informative picture of the equity asset world. The most comprehensive resource on the market, this text supplements your studies for the third step in the three-level CFA certification program by integrating both accounting and finance concepts to explore a collection of valuation models and challenge you to determine which models are most appropriate for certain companies and circumstances. Detailed learning outcome statements help you navigate your way through the content, which covers a wide range of topics, including how an analyst approaches the equity valuation process, the basic DDM, the derivation of the required rate of return within the context of Markowitz and Sharpe's modern portfolio theory, and more. From the Inside Flap Navigate equity investments and asset valuation with confidence "Equity Asset Valuation helps bridge the gap between financial theory and practice, providing an objective view of the complementary and competing theories of, and approaches to, valuation. The authors explain and demonstrate the key absolute and relative valuation methods that are important to both the analyst valuing a company and the student of finance seeking to master valuation techniques. The book's many examples involving actual companies help the reader better appreciate nuances in the application of different valuation methods. This book is an excellent primer on the art of valuation." Pamela Peterson Drake, PhD, CFA, Chandler/Universal Eminent Professor of Finance, James Madison University "Valuation is a bridge between stories and numbers. Equity Asset Valuation provides the tools and basic techniques that you need to master to be able to build that bridge, and it does so without intimidating jargon, unnecessary theory, and unwanted distractions." Aswath Damodaran, Professor of Finance, Stern School of Business, New York University "In order to succeed as a security analyst it is critically important to have a thorough understanding of the basic fundamental underpinnings of valuation. Equity Asset Valuation provides this in a clear methodical fashion." Paul D. Sonkin, Portfolio Manager, Gabelli Asset Management, and Adjunct Professor, Columbia Business School From the Back Cover Whether you are a novice investor or an experienced practitioner, Equity Asset Valuation, Fourth Edition, has something for you. Part of the CFA Institute Investment Series, this authoritative guide is relevant the world over and integrates accounting and finance concepts to deliver a potent collection of valuation models, as well as challenge readers to determine which models are most appropriate for specific companies and situations. This updated edition blends theory with practice, detailing contemporary techniques used to determine the intrinsic value of an equity security, and shows how these techniques are applied in both foreign and domestic markets. Well suited for motivated individuals who learn on their own as well as a general reference, this complete resource delivers clear, example-driven coverage of technical analysis and fundamental analysis, as well as an array of valuation techniques. Inside you'll find: Learning outcome statements (LOS) specifying the objective of each chapter A diverse variety of investment-oriented examples both aligned with the LOS and reflecting the realities of today's investment world A wealth of practice problems, charts, tables, and graphs to clarify and reinforce the concepts and tools related to today's important valuation issues Sharpen your skills by furthering your hands-on experience in the Equity Asset Valuation Workbookan essential guide containing learning outcomes and summary overview sections, along with challenging problems and solutions. Get the powerful mix of best practices and solid theory you nee