Valuation Of S Ecurities

What is Value? ,[object Object],[object Object]

Several Kinds of “Value” ,[object Object],[object Object],[object Object],[object Object]

Determinants of Intrinsic Value ,[object Object],[object Object],[object Object],[object Object]

Bonds ,[object Object],[object Object]

Calculating the Value of a Bond ,[object Object],[object Object],[object Object],[object Object],0 1 2 3 4 5 100 100 100 100 100 1,000

Calculating the Value of a Bond (cont.) ,[object Object],[object Object],[object Object]

Bond Terminology ,[object Object],[object Object],[object Object],[object Object]

Bond Valuation: An Example ,[object Object],0 1 2 3 4 5 100 100 100 100 100 1,000

Some Notes About Bond Valuation ,[object Object],[object Object],[object Object],[object Object],[object Object]

Common Stocks ,[object Object],[object Object]

Common Stock Valuation ,[object Object],[object Object],[object Object],[object Object],[object Object]

Common Stock Valuation: An Example ,[object Object],2.00 2.16 33.33 ?

Some Notes About Common Stock ,[object Object],[object Object],[object Object],[object Object],[object Object]

Common Stock: Some Assumptions ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

The Dividend Discount Model (DDM) ,[object Object],[object Object]

The DDM: An Example ,[object Object],[object Object],[object Object]

The DDM Extended ,[object Object],[object Object],[object Object]

The DDM Example (cont.) ,[object Object],[object Object]

Earnings Model ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Walter’s Model ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Earnings Multiplier Approach ,[object Object],[object Object],[object Object]

Other Valuation Models ,[object Object],[object Object]

Preferred Stock ,[object Object]

Preferred Stock Valuation ,[object Object],[object Object]

Preferred Stock: An Example ,[object Object]

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