MGT 948 Security Analysis and Valuation

Fall Semester 2009

Professor Stanley Garstka

Yale School of Management
54 Hillhouse, tel: 203-432-6042
e-mail:
stanley.garstka@yale.edu
Office hours: By Appointment Only

 

Professor Shyam Sunder

Yale School of Management

55 Hillhouse, tel: 203-432-6160
e-mail:
shyam.sunder@yale.edu
Office hours: By Appointment Only

TA: Kai Du
e-mail: kai.du@yale.edu
tel: 203-985-5615

Course Information
Classes meet Monday and Wednesday, 1:00-2:20 pm in A46.

Course Description

Course Syllabus

Alumni Comments

Presentation Schedule Fall 2009

Groups and Report Submission Deadlines

Lecture Notes

Bankruptcy and Restructuring

Cost of Capital

Estimating CAPM Inputs

Ten Ways to Create Shareholder Value

Approaches to Valuation

Financial Shenanigans

Reading Materials

Are Unmanaged Earnings Always Better for Shareholders?

Does Valuation Model Choice Affect Target Price Accuracy? (Demirakos et al., European Accounting Review)

Goldman's Trading Tips Reward Its Biggest Clients (Wall Street Journal)

A Case for Valuing Twitter at $2.7 Billion (WSJ blog)

Resources on Seasonal Adjustments

Fernandez Article on Risk Premium

Ups and Downs: Valuing Cyclical and Commodity Companies (Oct 1, 2009)

On the Information Role of Stock Recommendation Revisions

The Use of Fuzzy Logic and Expert Systems for Rating and Pricing Firms: A New Perspective on Valuation

Guest Speakers

Guest Speakers

Report Guidelines

Rules and Suggestions

Industry List

Some Suggestions for Writing Investment Reports

Thoughts on Writing a Good Report

Grades and Comments

Click here to submit grades and comments

Click here to view grades and comments

Professional Reports

Industry Reports

Company Reports

Submitting Reports

Please upload your reports for internal distribution to the class 48 hours before the class presentation to this limited access site. Note that this link does not work with Firefox and needs a VPN connection from off campus. Be sure to provide an appropriate identifying name for your file including a date. You may also download the reports from the other members of the class from this location. Click here for more detailed instructions.

Your report must meet certain guidelines. These guidelines contain information regarding the format of the disclaimer that must be included. Please review them before uploading your report.

Send an email message to inform every one when your report is available. You can send group emails to class participants through "Email Tools" located in the left navigation bar of the Classes V2 site of our course.

Internet Resources

EDGAR

Investext (via Thompson ONE Banker)

Capital IQ information service (log in required)

Yale Social Science Library Research Guide: Finance

Company Annual Reports On-Line (CAROL)

Emerging Company Report as TV Show (from Hollywood, CA)

Lexis-Nexis Academic Universe - Business

Onesource Business Browser

Morningstar Equity Research

Yahoo Finance

Factiva (via Yale Library)

Wharton Research Data Services (log in required)

Introduction to WRDS

News

 News – Fall 2009