财务分析和证券定价.pptVIP

PART IIThe Analysis of Financial Statements第一页，共二十三页。 The Analysis of Financial Statements1Knowing the BusinessThe ProductsThe Knowledge BaseThe CompetitionThe Regulatory constraintsStrategy2Analyzing InformationIn Financial StatementsOutside of Financial Statements3Forecasting PayoffsSpecifying PayoffsForecasting Payoffs4Convert Forecasts to a Valuation5Trading on the ValuationOutside Investor:Compare Value with Price toBUY, SELL or HOLDInside Investor:Compare Value with Cost toACCEPT or REJECT StrategyChapter 7How business activities are represented in financial statementsChapter 8How the