Analyse financière et évaluation d'actions
Course objectives
The "Equity Investment" teaching aims to train students to modern and operational technics of Equity analysis and valuation. The content of the course is largely based on the "Equity Investments" section of the CFA program Level 1 & 2.
This course includes the following topics:
- A general framework of the equity market
- Intensive Equity analysis (Financial and Business analysis)
- Comprehensive review of existing equity valuation models
All along the course, numerous case studies, derived from real-life situations, will be discussed and each student will have to produce a detailed financial analysis report (written in English) on a listed firm.
Course outline
- Introduction: Definition and objectives
- Equity market organization(Buy-Side, sell-side, issuers, stock-exchanges, alternatives platforms, ethics and Equity market)
- Equity Analysis (Financial Analysis, business Analysis, forecasting corporate earnings)
- Equity Valuation (Absolute models, relative models)
-
Investment Conclusion: Should I buy or should I sell ?
References
Graham B., D. Dodd, and S. A. Klarman, Security analysis: Principles and Technique, McGraw-Hill Professional; 6th Revised edition (October 2008), 700 pages.
Vernimmen P., Finance d'Entreprise, Dalloz-Sirey, 9th Revised edition (August 2010), 1200 pages.
Robert G. Hagstrom, Bill Miller, and Kenneth L. Fisher : The Buffet Way
Peter Lynch and John Rothchild: Learn to Earn: A Beginner's Guide to the Basics of Investing and Business
Assessment
Financial analysis of a listed company (individual) + 1 final exam