Pitch the Perfect Investment : The Essential Guide to Winning on Wall Street.

Intro -- Title Page -- Copyright -- Dedication -- Preface -- Notes -- Introduction -- Notes -- PART I THE PERFECT INVESTMENT -- Chapter 1 How to Value an Asset -- Three Primary Components of Value -- Gems -- Notes -- Chapter 2 How to Value a Business -- Defining Cash Flow -- How to Calculate Present Value Using a Discounted Cash Flow Model -- Predicting the Future Is Not Easy -- How to Calculate the Present Value of a Bond -- How to Calculate the Present Value of a Perpetuity -- How to Calculate the Present Value of a Business -- How to Calculate the Present Value of a Growing Cash Flow Stream Using a Two-Stage DCF Model -- How to Think About the Discount Rate -- Gems -- Notes -- Chapter 3 How to Evaluate Competitive Advantage and Value Growth -- Cash Flow Generated by Selling Assets -- Cash Flow Generated by Operating the Assets: Return on Invested Capital, Cost of Capital, and Excess Returns -- Gems -- Notes -- Chapter 4 How to Think About a Security's Intrinsic Value -- What is "Intrinsic Value"? -- Thinking of Intrinsic Value as a Range of Values -- Gems -- Notes -- Chapter 5 How to Think About Market Efficiency -- Market Efficiency Is More of a Concept Than a Law -- The Holy Grail of Money Management: Generating Alpha -- Generating Alpha Is a Zero-sum Game -- Defining Market Efficiency -- The Rules of Market Efficiency -- When the Rules of Market Efficiency Operate Flawlessly -- The Mechanism That Implements the Rules of Market Efficiency -- Gems -- Notes -- Chapter 6 How to Think About the Wisdom of Crowds -- "And the Oscar Goes to …" -- The Wisdom of Crowds Is Critical to Market Efficiency -- How the Wisdom of Crowds Implements the Rules of Market Efficiency -- Tenet 1-The Dissemination of Information -- Tenet 2-The Processing of Information -- Tenet 3-The Incorporation of Information.

Examples Illustrating How the Wisdom of Crowds Implements the Rules of the Efficient Market Hypothesis -- The Wisdom of Crowds Applied to the Stock Market -- The Crowd Is Smarter Than the Experts Most of the Time -- How the Crowd Can be Fooled -- Gems -- Notes -- Chapter 7 How to Think About Behavioral Finance -- The Moody Mr. Market -- When the Wisdom of Crowds Becomes the Madness of Crowds -- Is the Crowd's Apparent Madness Irrational? -- How Can Fama and Shiller Both Be Right? -- The Magnetism of the Efficient Market Hypothesis -- Limits to Incorporation: When the Crowd Cannot Act -- The Efficient Market Hypothesis Remains "King of the Hill" -- Why Do We Care About Market Efficiency? -- Gems -- Notes -- Chapter 8 How to Add Value Through Research -- Informational Advantage -- Analytical Advantage -- Informational + Analytical Advantage -- Trading Advantage -- Catalysts -- Gems -- Notes -- Chapter 9 How to Assess Risk -- The Difference Between Risk and Uncertainty -- Confusing Uncertainty and Risk Causes Mispricings -- How Confusion of Risk and Uncertainty Manifests in the Wisdom of Crowds Framework -- When Uncertainty Becomes Risk -- Margin of Safety Is Really All about Risk -- A More Certain Business Can Actually Be Riskier -- Time Matters . . . and Matters a Lot . . . -- How Increased Accuracy and Precision in Estimating Intrinsic Value Affects Risk -- How Increased Accuracy and Precision in Estimating Time Horizon Affects Risk -- Risk and Variant Perception-Skewing the Distribution in the Investor's Favor -- The Risk of Underperforming -- Gems -- Notes -- PART II THE PERFECT PITCH -- Chapter 10 How to Select a Security -- The Importance of Matching a Portfolio Manager's Schema -- Identifying a Manager's Fundamental Criteria -- What Went Wrong? -- Identifying a Manager's Valuation Criteria -- Other Barriers to Adoption.

Overcome Barriers by Learning How to Read a Portfolio Manager's Mind -- Other Communication Pitfalls -- Gems -- Notes -- Chapter 11 How to Organize the Content of the Message -- How to Capture and Keep a Portfolio Manager's Attention -- Constructing a Formidable Argument Using the Toulmin Model -- The Stress-Tested Argument -- Gems -- Notes -- Chapter 12 How to Deliver the Message -- The 30-Second Hook -- The Two-Minute Drill -- Make It Easy for Them -- Topography of a Simple Slide Deck -- How to Handle Q&amp -- A? -- Stock Pitching Contests -- Delivering the Message-You Are the Envelope -- Anatomy of a Meeting -- Other Not So Obvious Barriers to Communication -- How Do You Get to Carnegie Hall? -- Gems -- Notes -- Acknowledgments -- Notes -- Art Acknowledgments -- About the Authors -- Index -- EULA.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.