Valuation Methods for Stocks - Intermediate and Advanced Level

Bucharest 28 February 2017

Trainer: Cristian Tudorescu

Details

In this Program, the participants will learn the main valuation methods that are used in financial industry practice and apply them on stocks listed both on local and international markets.

By improving their knowledge in this field, the experienced investors and persons that activate in the financial markets will learn how to build and use models, such as: Perpetual Dividend Growth, Valuation Multiples, Discounted Cash-Flow and "Sum of Parts", so that these methods will better support their investment decisions in stocks.

Target group

The Program is targeting investors with an intermediate level experience regarding investments, as well as professionals who activate in financial institutions, who are willing to better understand and use the analysis and valuation methods for stocks.

Course objectives

Learning how to use the main valuation methods for stocks, applying them both in the local and international markets, so that investors and market professionals get a more solid support in their decisions to invest in stocks. Using examples and study cases to explain the strenghts and limitations of each method.

Subjects

  1. The two main challenges in Stock valuation process - assessing the future of the business and estimating the discount rates
  2. Perpetual Dividend Growth Method or Dividend Discount Model
  3. Valuation Multiples: P/E, P/B, P/S, EV/EBITDA - in-depth analysis regarding their strenghts and limitations, practical recommendations for using them
  4. Discounted Cash-Flow Method - study case.
  5. Other methods used in the financial industry - examples for "Sum of Parts" approach
  6. Examples and Study cases on stocks and bonds traded on local and on international capital markets.

Trainer

Cristian Tudorescu - 12 years of experience in the financial markets, as Head of Research with Tradeville brokerage house, as manager in Asset Management companies. Also advisor in the financing process of different companies and some public entities.

Passed Level II in the CFA Program (Chartered Financial Analyst).

A background of more than 6 years in delivering trainings and seminars.

Duration / Period

The program will last for 5 hours and will take place on the February 28, 2017 from 10:00 to 15:00.

Investment

The necessary investment for this program is of 300 lei + VAT / participant and includes: course materials, coffee break, participation certificates.

Discounts

At the above fee a discount of 5% will be granted for registration and payment until the 10th of February 2017.

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