Equity Investments: Study Session 11
Study Session Materials
New Readings from the 2008 CFA Program
Complete List of CFA Program Readings
Topic Overview
Industry and Company Analysis in a Global Context
This study session provides insights on issues that affect security valuation internationally. Differences in accounting standards are described to aid in making reasonable comparisons among companies based in different countries. Analyzing industries in a global context and evaluating competitive forces that will affect returns provide a foundation for security valuation decisions.
View learning outcome statements (LOS) for reading objectives.
New Readings from the 2008 CFA Program
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"U.S. Portfolio Strategy: Seeking Value −
Anatomy of Valuation" David J. Kostin, Jessica Binder, Robert Koyfman, and Caesar Maasry, Anatomy of Valuation (Goldman Sachs Group, Inc., 2006) |
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Complete List of CFA Program Readings
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“Equity: Concepts and Techniques” Ch. 6, International Investments, 5th edition, Bruno Solnik and Dennis McLeavey (Addison Wesley, 2004) |
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“Competitive Strategy: The Core Concepts” Ch. 1, Competitive Advantage: Creating and Sustaining Superior Performance, Michael E. Porter (The Free Press, 1985, 1998) |
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“Industry Analysis”
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“Valuation in Emerging Markets” Ch. 22, Valuation: Measuring and Managing the Value of Companies, 4th edition, Tim Koller, Marc Goedhart, and David Wessels (Wiley, 2004) |
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“Company Analysis and Stock Valuation”
Ch. 14, pp 562-566, Investment Analysis and Portfolio Management, 8th edition, Frank K. Reilly and Keith C. Brown (South-Western, 2006) |
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"U.S. Portfolio Strategy: Seeking Value −
Anatomy of Valuation" David J. Kostin, Jessica Binder, Robert Koyfman, and Caesar Maasry, Anatomy of Valuation (Goldman Sachs Group, Inc., 2006) |
View LOS |