Finance from the viewpoint of corporate finance decision-makers, including profitability ratios, capital structure, cost of capital, discounted cash flow methods, and mergers and acquisitions.
Security Analysis
How to value the assets, debt, warrants, and equity of companies. Includes valuation methods, free cash flow, leverage, cost of capital, share buy-backs, and more.
Financial Ratios
A listing of some useful financial ratios, including leverage, gross margin, asset turnover, ROA, ROE, and liquidity ratios.
Free Cash Flow
Explains how to calculate the unlevered free cash flow for valuation purposes.
Terminal Value
Discusses the significance of terminal value and how to calculate it .
Debt Valuation
Methods for valuing the debt of a corporation. Includes a section on modeling the possibility that bond ratings will change over time.
Black-Scholes Model
A brief description of The Black-Scholes option pricing formula, and how to apply it to the valuation of options and warrants.
Mergers and Acquisitions
A short overview of mergers and acquisitions focusing on the synergies required to make such combinations worthwhile.
Investment Management
Topics in investment management, including portfolio risk and return, the capital asset pricing model, single factor model,
long-term investing, defined-benefit pension plans, arbitrage pricing theory, mutual fund style analysis and performance, and bonds.
Stock Indexes
An introduction to commonly-used stock price indices including price-weighted, market cap weighted, and unweighted indices.
Trading Costs
A short discussion on the costs associated with equity trades, including commissions, fees, and taxes, the market maker spread, the impact of trading on market price, and the opportunity cost. Concludes with two ways of reducing trading costs.
Market Timing
Discusses the predictive ability required in order to outperform the market by timing changes between equities and cash.
