Valuing and Investing in Equities: Croci: Cash Return on Capital Investment

ISBN-13: 9780128138489 / Angielski / Miękka / 2020 / 250 str.

Francesco Curto

Recenzje

"Presents the Cash Return on Capital Invested (CROCI) framework for valuing and investing in equities, explaining how it quantifies the economic success of a company and how such an assessment is crucial to intrinsic valuation. Discusses capital and returns." --Journal of Economic Literature

"Francesco Curto makes an incredibly compelling case for CROCI. Anyone interested in stock analysis, fundamental valuation or investing in equities should find a great deal to learn from this book." --Amit Seru, The Steven and Roberta Denning Professor of Finance, Stanford Graduate School of Business

"Valuing and Investing in Equities: CROCI is an essential read for anyone evaluating investment targets worldwide. Its easy-to-understand presentation guides investors in deciphering complex financial statements, normalizing between companies, and discerning an accurate picture of their financial health." --Randy Brown, CIO Sun Life and Head of Insurance Asset Management for SLC Management

Spis treści

1. Investment and valuation

Section 1: CROCI on valuation 2. Valuing non-financial companies 3. The analytical idiosyncrasies of banks 4. Stock picking based on economic fundamentals

Section 2: CROCI on investing 5. The performance of economic value 6. Value investing and dividends 7. Diversified investments: CROCI real earnings weighted 8. Thematic investments - CROCI intellectual capital

Section 3: Through the looking glass 9. Equities, inflation and valuation 10. Bubbles in equities 11. Odysseus on valuing and investing in equities

O autorze

Francesco Curto, PhD, Managing Director is the Head of the Research House at DWS and the Head of CROCI® Investment Strategy and Valuation Group at DWS, majority owned by Deutsche Bank (DB) and one of the world's leading asset managers. He and his team joined DWS in 2013 from Deutsche Bank, where CROCI was developed in 1996.
He has a vast experience in the financial services industry, having been senior European and global strategist. He has been involved in all the major developments of CROCI® since joining the team in 1998 from Warwick Business School, where he was a Research Fellow. He holds a degree in Business Economics (Economia Aziendale) from "Università di Venezia" and a PhD in Strategic Management from Warwick University. His interests are fundamental valuation, value strategies, politics, economics and the dynamics of industrial and corporate change and he is a regular guest-host at CNBC.