Hardcover: 464 pages
Publisher: Wiley; 2 edition (February 8, 2010)
Language: English
ISBN-10: 0470571438
ISBN-13: 978-0470571439
Product Dimensions: 7.3 x 1.2 x 10.3 inches
Shipping Weight: 2.1 pounds
Average Customer Review: 3.7 out of 5 stars See all reviews (13 customer reviews)
Best Sellers Rank: #348,626 in Books (See Top 100 in Books) #45 in Books > Business & Money > Finance > Corporate Finance > Valuation #474 in Books > Textbooks > Business & Finance > Finance #2277 in Books > Textbooks > Business & Finance > Economics
This was one of the better finance books I've come across and a definite keeper for reference. Instead of mindless rambling or chocked full of jargon, the material was concise yet contained enough detail to cover all aspects of equity valuation that one might need to know suitable for the CFA Level II prep. But even for laypeople who have no intention of taking the CFA, this book will be very easily understandable with just a rudimentary background in basic finance theory.The layout is very logical, basically covering the four important aspects of equity valuation: DDM, Free cash flow models, price multiples, and residual income. Under each of these, the reading builds up to form a bigger picture of what needs to be understood. Examples are very clear and do not rely on specific methods of solving, such as being only relegated to math equations, spreadsheets, or financial calculators. You basically can approach any of the problems in whatever way you want. The emphasis is on understanding rather than route "do it my way" methods. The book appears to have been very well proofread, so you don't find numerical errors that can make you pull your hair out as with other books.There is also a workbook for this series but at my time of writing, it has yet to be released. When it is out, I would give this book series six stars in strength.
It is an extremely important reference book because I am preparing for CFA Level II exam. I've found the book an introductory one to illustrate basic concept in investment industry. Any one who wants to enter the investment banks,mutual funds,asset manangement corps. should have this book in hand.I strongly recommend it to all candidates on the road to getting CFA charter, and other partitioners in investment field may also find it helpful.
This book is the same book with a different name. The first edition was called "Analysis of Equity Investment Valuation." After reviewing the table of contents as well as several chapters, I have the following to report: The Table of Contents is the same; and the rest of the book is the same, too. The pages don't exactly match because in the new book the block paragraph style has been chosen. You do not need this book for the CFA. If you call the Institute, they will tell you not to purchase the source books because the program has been tailored specifically for the candidates. Instead, the Institute mandates that you buy the "program". If you really want the book, then buy the old version for a fraction of the cost. The content is the same.
Of the valuation books that I have read (and I have read a lot), Equity Asset Valuation is one of the better ones. I wouldn't say it is the best, because I prefer Koller et al's Valuation book, but this book will not disappoint. The basic topics in equity valuation are covered by this book: free cash flow, residual income, and multiples. These topics are fairly straightforward in a classroom setting, but real-world equity valuation is tricky and hard to teach. However, without the proper fundamentals, it is difficult to become good at valuation. This book gets you the proper fundamentals.
Very happy with this book. I would add that McKinsey and Company's "Valuation" is an absolute must if you need this sort of thing. Having both of them has been great, but if I could only have once, I'd probably go with McKinsey.
Had to purchase this for a class in grad school. Informative, but incredibly convoluted, and it's not just the subject matter making it difficult to read. Even our professors don't like reading this headache of a book.
Great book that gives the CFA perspective of the world of finance in a single source. It doesn't cover every method used by value investors, so there are some holes, but never-the-less it provides a firm foundation of modern financial valuation theory that every investor employed in the securities industry needs to know to be conversant on the subject. The missing stuff you'll need to get from other sources but that's Okay because financial learning is life-long endeavor. In sum, this book easily deserves five stars and the purchase price is one of the best bargains in the world of finance. Highly recommended.
Equity Asset Valuation (CFA Institute Investment Series) Equity Asset Valuation Equity Asset Valuation Workbook (CFA Institute Investment Series) Equity Asset Valuation Workbook Equity Asset Valuation Book and Workbook Set (CFA Institute Investment Series) Investment Valuation: Tools and Techniques for Determining the Value of Any Asset, Second Edition, University Edition Investment Valuation: Tools and Techniques for Determining the Value of any Asset, University Edition Investment Valuation: Tools and Techniques for Determining the Value of Any Asset Investment Valuation: Tools and Techniques for Determining the Value of Any Asset, Second Edition Private Equity as an Asset Class Private Equity as an Asset Class (The Wiley Finance Series) Business Valuation for Business Owners: Master a Valuation Report, Find the Perfect Business Appraiser and Save Your Company from the Looming Disasters That You Don't Yet Know About Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions + Valuation Models Valuation Workbook: Step-by-Step Exercises and Tests to Help You Master Valuation Valuation Workbook: Step-by-Step Exercises and Tests to Help You Master Valuation + WS (Wiley Finance) Financial Modeling and Valuation: A Practical Guide to Investment Banking and Private Equity Private Equity Operational Due Diligence: Tools to Evaluate Liquidity, Valuation, and Documentation (Wiley Finance) Financial Modeling and Valuation: A Practical Guide to Investment Banking and Private Equity (Wiley Finance) Private Equity Operational Due Diligence, + Website: Tools to Evaluate Liquidity, Valuation, and Documentation Using Investor Relations to Maximize Equity Valuation