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Portfolio Management: A Market-Class guide to Investment Management by John Bonner, Marcus Rees

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Chapter 10. Equity Selection

OBJECTIVES

1. Understand the principles behind selecting equities based on your investment philosophies.

2. Learn about the core valuation methodologies for stocks.

3. Learn to compare companies based on stock price and financial performance.

4. Calculate a company’s value using the dividend discount model (DDM) and discounted cash flow (DCF) analysis.

EQUITY-SELECTION PROCESS

Definition: The equity-selection process is designed to evaluate different economies and industries, before selecting the indices and stocks you would like to invest in.

The process presented here can be described as a top-down approach, since it starts with a high-level view and works down to individual assets. You will incorporate your investment ...

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