{"product_id":"investment-pricing-methods-isbn-9780471177401","title":"Investment Pricing Methods","description":"\u003cb\u003ePractical, expert coverage of investment pricing methods for financial professionals\u003c\/b\u003e  \u003cp\u003eThis book on investment pricing methods offers accounting and financial practitioners and academics a solid understanding of the techniques and methods investment analysts use to price common financial investment instruments, such as commercial mortgages, private placement-bonds, mortgage-backed securities, private and public equities, derivatives, and joint ventures. Clarification of important terminology and an overview of fundamental concepts are provided for less experienced professionals, while in-depth and up-to-date discussion of technical matters offers experienced professionals expert dissection of more complex material. This authoritative and reliable guide features:\u003c\/p\u003e \u003cul\u003e \u003cli\u003ePowerPoint(TM) presentation for teaching purposes available online at www.wiley.com\/go\/investmentpricing\u003c\/li\u003e \u003cli\u003eIn-depth and up-to-date pricing models\u003c\/li\u003e \u003cli\u003eVerbal and formula explanations for all mathematical equations\u003c\/li\u003e \u003cli\u003eTips on reviewing investment prices for accuracy or flaws\u003c\/li\u003e \u003cli\u003eInvestment type characteristics such as contractual provisions, cash flows, and risks for applying Statement 133 hedge effectiveness guidelines\u003c\/li\u003e \u003cli\u003eBasic building blocks of investment pricing methodologies including present value methodologies used for pricing and evaluating common investment types\u003c\/li\u003e \u003cli\u003eCoverage of complex issues including term structure of interest rates, determinants of bond yields and stock risk premiums, estimation of free cash flows for valuing a business entity, and more\u003c\/li\u003e \u003c\/ul\u003eBilanzierungsrichtlinien werden aufgrund der zunehmenden Komplexität von Investitionen ständig weiterentwickelt. Entsprechend sind Konzepte zur Bestimmung des marktgerechten Wertes Bestandteil der Ermittlungs- und Offenlegungsrichtlinien geworden, und Fachleute des Rechnungswesens müssen die Grundlagen der Preisbildung im Investmentbereich beherrschen. \"Investment Pricing Methods\" wurde speziell für Fachleute im Finanz- und Rechnungswesen geschrieben. Es erläutert ausführlich die Verfahren und Methoden, die Investmentanalysten anwenden bei der Bewertung allgemeiner Finanzinstrumente, wie z.B. gewerbliche Hypotheken, Privatplazierungen, hypothekarisch gesicherte Wertpapiere, börslich und außerbörslich gehandelte Aktienwerte, Derivate und Joint Ventures. Der Band liefert eine klare Definition der wichtigen Terminologie und gibt einen Überblick über grundlegende Konzepte für weniger erfahrene Fachleute. Darüber hinaus bietet er eine tiefgreifende und aktuelle Diskussion technischer Fragen zu komplexeren Themen für erfahrene Experten. \"Investment Pricing Methods\" ist ein maßgeblicher und zuverlässiger Leitfaden, der dem Leser zeigt, wie er feststellen kann, ob Investitionen vernünftig bewertet oder unrealistisch überzogen sind. Er enthält grundlegende Bausteine zu Preisbildungsverfahren, wie z.B. Formeln zur Ermittlung des Barwertes und Methoden, die zur Ermittlung des gegenwärtigen Wertes allgemeiner Investitionsarten eingesetzt werden. Auch komplexe Fragen zu Zinsstruktur, Risikozuschlägen, Terminologie und Cash Flow-Eigenschaften werden umfassend erörtert. Ein wertvoller Ratgeber für die Praxis!  Preface.\u003cbr\u003e \u003cbr\u003e Acknowledgments.\u003cbr\u003e \u003cbr\u003e 1 Pricing Concepts and the Term Structure of Interest Rates.\u003cbr\u003e \u003cbr\u003e Introduction.\u003cbr\u003e \u003cbr\u003e Present Value Formula.\u003cbr\u003e \u003cbr\u003e Duration and Other Fixed-Income Pricing Concepts.\u003cbr\u003e \u003cbr\u003e Concluding Remarks.\u003cbr\u003e \u003cbr\u003e Notes.\u003cbr\u003e \u003cbr\u003e Appendix A: Calculation of U.S. Treasury Bond Yield Curve.\u003cbr\u003e \u003cbr\u003e Appendix B: Eurodollar Futures Yields.\u003cbr\u003e \u003cbr\u003e 2 Fixed-Income Pricing Matrix and Decomposing Yields.\u003cbr\u003e \u003cbr\u003e Introduction.\u003cbr\u003e \u003cbr\u003e Determining the Discount Rate.\u003cbr\u003e \u003cbr\u003e Credit Rating Categories and Determination.\u003cbr\u003e \u003cbr\u003e Processes for Decomposing Bond Yields.\u003cbr\u003e \u003cbr\u003e Normalized-Yield Pricing Matrix.\u003cbr\u003e \u003cbr\u003e Concluding Remarks.\u003cbr\u003e \u003cbr\u003e Notes.\u003cbr\u003e \u003cbr\u003e 3 Public Corporate Bonds, Private-Placement Bonds, and Whole Commercial Mortgages.\u003cbr\u003e \u003cbr\u003e Introduction.\u003cbr\u003e \u003cbr\u003e Key Terminology.\u003cbr\u003e \u003cbr\u003e Publicly Issued Corporate Bonds.\u003cbr\u003e \u003cbr\u003e Public Corporate Bond Pricing.\u003cbr\u003e \u003cbr\u003e Private-Placement Bonds.\u003cbr\u003e \u003cbr\u003e Valuing a Private-Placement Bond.\u003cbr\u003e \u003cbr\u003e Pricing Bonds that Have Sinking-Fund Payment Requirements.\u003cbr\u003e \u003cbr\u003e Pricing Defaulted Bonds.\u003cbr\u003e \u003cbr\u003e Whole Commercial Mortgage Loans.\u003cbr\u003e \u003cbr\u003e Valuing a Whole Commercial Mortgage Loan.\u003cbr\u003e \u003cbr\u003e Monetary Default Scenarios.\u003cbr\u003e \u003cbr\u003e Notes.\u003cbr\u003e \u003cbr\u003e Appendix C: Bloomberg-Yield to Call Data.\u003cbr\u003e \u003cbr\u003e Appendix D: Selected Portions of BondCalc (r) Brochures.\u003cbr\u003e \u003cbr\u003e 4 Mortgage-Backed and Asset-Backed Securities.\u003cbr\u003e \u003cbr\u003e Introduction.\u003cbr\u003e \u003cbr\u003e Evolution of the Mortgage-Backed Securities Market.\u003cbr\u003e \u003cbr\u003e Mortgage-Backed Securities.\u003cbr\u003e \u003cbr\u003e Collateralized Mortgage Obligations.\u003cbr\u003e \u003cbr\u003e Bloomberg Median Prepayments.\u003cbr\u003e \u003cbr\u003e Stripped Securities.\u003cbr\u003e \u003cbr\u003e Private-Placement Asset-Backed Securities.\u003cbr\u003e \u003cbr\u003e Concluding Remarks.\u003cbr\u003e \u003cbr\u003e Notes.\u003cbr\u003e \u003cbr\u003e 5 Privately Held Equity.\u003cbr\u003e \u003cbr\u003e Introduction.\u003cbr\u003e \u003cbr\u003e Equity Volatility.\u003cbr\u003e \u003cbr\u003e Pricing Equity Issues.\u003cbr\u003e \u003cbr\u003e Common Equity Pricing Models Used by Investment Analysts.\u003cbr\u003e \u003cbr\u003e Price-Multiple Equity Pricing Models.\u003cbr\u003e \u003cbr\u003e Discounted Cash Flow Approach Equity Pricing Model.\u003cbr\u003e \u003cbr\u003e Basic Framework of Private-Equity Investing.\u003cbr\u003e \u003cbr\u003e Accountant's Review of Private-Equity Valuations.\u003cbr\u003e \u003cbr\u003e Concluding Remarks.\u003cbr\u003e \u003cbr\u003e Notes.\u003cbr\u003e \u003cbr\u003e 6 Public Equity Pricing.\u003cbr\u003e \u003cbr\u003e Introduction.\u003cbr\u003e \u003cbr\u003e \"Fox Rocks\" Valuation Illustration.\u003cbr\u003e \u003cbr\u003e Discounted Cash Flow Model.\u003cbr\u003e \u003cbr\u003e Concluding Remarks.\u003cbr\u003e \u003cbr\u003e Notes.\u003cbr\u003e \u003cbr\u003e Appendix E: \"Fox Rocks\" Valuation Illustration.\u003cbr\u003e \u003cbr\u003e 7 Derivatives.\u003cbr\u003e \u003cbr\u003e Introduction.\u003cbr\u003e \u003cbr\u003e Forward Contracts.\u003cbr\u003e \u003cbr\u003e Futures Contracts.\u003cbr\u003e \u003cbr\u003e Option Contracts.\u003cbr\u003e \u003cbr\u003e Swaps.\u003cbr\u003e \u003cbr\u003e Credit Derivatives.\u003cbr\u003e \u003cbr\u003e Forward Rate Agreements.\u003cbr\u003e \u003cbr\u003e Notes.\u003cbr\u003e \u003cbr\u003e Appendix F: Using Pricing Concepts of Fixed-Income Investments and Derivatives to Illustrate How to Hedge the Base Rate of Interest.\u003cbr\u003e \u003cbr\u003e Appendix G: Fixed Income Option Strategies.\u003cbr\u003e \u003cbr\u003e 8 Partnerships.\u003cbr\u003e \u003cbr\u003e Introduction.\u003cbr\u003e \u003cbr\u003e Surfside Condominium Partnership.\u003cbr\u003e \u003cbr\u003e Concluding Remarks.\u003cbr\u003e \u003cbr\u003e Glossary.\u003cbr\u003e \u003cbr\u003e References.\u003cbr\u003e \u003cbr\u003e Index.  PATRICK CASABONA, PhD, is Associate Professor in the Department of Accounting and Taxation at the Peter J. Tobin College of Business at St. John's University and a consultant to various business organizations.\u003cbr\u003e ROBERT M. TRAFICANTI is Director of Accounting Policy at a major investment bank. He coauthored this book while he was a project manager at the Financial Accounting Standards Board.  This book on investment pricing methods provides accounting and financial professionals and academics with a practical understanding of how investment analysts price common investments, such as commercial mortgages, private placement-bonds, mortgage-backed securities, private and public equities, derivatives, and joint ventures.\u003cbr\u003e \u003cbr\u003e Authors Casabona and Traficanti provide explanations and easy-to-follow illustrations of investment pricings in order to reinforce valuation concepts and help accountants apply those concepts to more complicated investments that are found in the marketplace. They show how investors are compensated for assuming risks and how this impacts pricing. Such in-depth discussions will allow accountants to understand the inputs used in appropriate investment pricing models (including the basic valuation formula), how changing market conditions impact fair values, and why certain internal control processes are important in arriving at accurate and consistent pricing estimates for investments. The book also illustrates common derivative hedging transactions to help the reader understand how derivatives are used to reduce risk and achieve other objectives.\u003cbr\u003e \u003cbr\u003e Detailed coverage of the five elements that professionals use to price private investments is provided:\u003cbr\u003e * Estimation of future cash flows\u003cbr\u003e * Expectation about variations in the amount or timing of future cash flows\u003cbr\u003e * Time value of money as represented by the risk-free rate of interest\u003cbr\u003e * Price for bearing the uncertainty in the asset or liability\u003cbr\u003e * Other factors such as illiquidity and market imperfections\u003cbr\u003e \u003cbr\u003e Investment Pricing Methods offers readers a sound understanding of the fundamentals of investment pricing procedures and helps them apply these techniques to investment pricing calculations observed in practice. Suitable for professionals and academics of various experience levels, the book offers both fundamental concepts in pricing methods and advanced coverage of particular techniques.  Practical, expert coverage of investment pricing methods for financial professionals\u003cbr\u003e \u003cbr\u003e This book on investment pricing methods offers accounting and financial practitioners and academics a solid understanding of the techniques and methods investment analysts use to price common financial investment instruments, such as commercial mortgages, private placement-bonds, mortgage-backed securities, private and public equities, derivatives, and joint ventures. Clarification of important terminology and an overview of fundamental concepts are provided for less experienced professionals, while in-depth and up-to-date discussion of technical matters offers experienced professionals expert dissection of more complex material. This authoritative and reliable guide features:\u003cbr\u003e * PowerPoint(TM) presentation for teaching purposes available online at www.wiley.com\/go\/investmentpricing\u003cbr\u003e * In-depth and up-to-date pricing models\u003cbr\u003e * Verbal and formula explanations for all mathematical equations\u003cbr\u003e * Tips on reviewing investment prices for accuracy or flaws\u003cbr\u003e * Investment type characteristics such as contractual provisions, cash flows, and risks for applying Statement 133 hedge effectiveness guidelines\u003cbr\u003e * Basic building blocks of investment pricing methodologies including present value methodologies used for pricing and evaluating common investment types\u003cbr\u003e * Coverage of complex issues including term structure of interest rates, determinants of bond yields and stock risk premiums, estimation of free cash flows for valuing a business entity, and more","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989475279077,"sku":"NP9780471177401","price":175.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780471177401.jpg?v=1761784250","url":"https:\/\/k12savings.com\/es\/products\/investment-pricing-methods-isbn-9780471177401","provider":"K12savings","version":"1.0","type":"link"}