Foreword | |
Preface | |
Acknowledgements | |
Introduction to the Applied Portfolio Management Class. | |
APM History | |
In the Beginning | |
How do Beginning Investors Think? | |
Student Groups û Short-Term Investing and Portfolio Contests | |
Getting Close to the Information | |
Onions, Poker, and Ants | |
What about the Ants? | |
Things to Come | |
APM Guidelines | |
Professional Money Managers | |
Tactical Asset Allocation and Sector Benchmarking | |
APM Approach | |
Wrapping Up | |
Conventional Wisdom | |
Diversification and Risk | |
Efficient Markets | |
Conclusion | |
How Students Find An Investment Edge | |
Build Your Own Information Network | |
Neglected Firms | |
Surface Analysis | |
Wrapping Up | |
Alpha, Sigma, Beta | |
APM's Risk and Reward | |
The Risk-Return Trade-off | |
Other Risk Measures | |
Wrapping Up | |
AppendixRisk and Return Calculations | |
Building an Investment Case. | |
Many Ways to be a Successful Investor | |
Common Traits of Successful Investors | |
APM's Philosophy | |
LSB Industries | |
Wrapping Up | |
Prepping for a Case | |
Getting Started | |
Understand the Business | |
Ready to Write the Case | |
Appendix10-K Requirements | |
Writing a Case | |
Case Format | |
Description | |
Investment Thesis | |
Next Steps | |
Gazing into the Crystal Ball | |
Pro Forma Statements | |
Pro Forma Financial Statements and Free Cash Flow | |
Building a Pro Forma | |
Next Steps | |
Valuation | |
Relative Valuation | |
Discounted Cash Flow Valuation | |
Investing is Dynamic | |
AppendixDiscounted Cash Flow Formulas | |
Class Specials. | |
Investing in China | |
Financial Systems in China | |
Raising Equity in China | |
Company Example - China Green | |
Wrapping Up | |
It's a Big World (After All) | |
Interceramic | |
World Commodities | |
Wrapping Up | |
AppendixValero's Numbers | |
Local Biases | |
American Italian Pasta (PLB) | |
Novastar Financial (NFI) | |
Inergy, L.Pand Inergy Holdings, L.P | |
Tortoise Capital Advisors (and more about Inergy) | |
Wrapping Up | |
Making Corporate Governance Pay | |
Board Issues | |
Corporate Activists | |
Oplink Campaign | |
Wrapping Up | |
Chapter 15 | |
APM Students | |
APM Speakers | |
The Last Word | |
About the Authors | |
Index | |
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