tailieunhanh - Lecture Investment analysis & portfolio management - Chapter 5: Investment analysis
Our earlier lectures have introduced us about investment reasons for investments, investment objectives, real investment and financial investment, investment analysis, characteristics of investment, risk factors, securities, forms of securities, investment process and markets. | Investment Analysis Lecture: 5 Course Code: MBF702 Recap Our earlier lectures have introduced us about investment reasons for investments, investment objectives, real investment and financial investment, investment analysis, characteristics of investment, risk factors, securities, forms of securities, investment process and markets. Outline Investment analysis – recap Investment analysis - methods Accounting rate of return Pay back period Example Investment analysis - recap ”Investment analysis is the study of financial securities for the purpose of successful investing.” This definition contains within it a number of important points. Firstly, there are the facts about financial securities: how to trade and what assets there are to trade. Secondly, there are issues involved in studying these securities: the calculation of risks, returns and the relationship between the two. Then there is the question of what success means for an investor, and the investment strategies which ensure | Investment Analysis Lecture: 5 Course Code: MBF702 Recap Our earlier lectures have introduced us about investment reasons for investments, investment objectives, real investment and financial investment, investment analysis, characteristics of investment, risk factors, securities, forms of securities, investment process and markets. Outline Investment analysis – recap Investment analysis - methods Accounting rate of return Pay back period Example Investment analysis - recap ”Investment analysis is the study of financial securities for the purpose of successful investing.” This definition contains within it a number of important points. Firstly, there are the facts about financial securities: how to trade and what assets there are to trade. Secondly, there are issues involved in studying these securities: the calculation of risks, returns and the relationship between the two. Then there is the question of what success means for an investor, and the investment strategies which ensure that choices are successful. Finally, there are the theories that are necessary to try to understand how the markets work and how assets are priced Typical Investment Analysis Plant expansion Equipment selection Equipment replacement Lease or buy Cost reduction Investment analysis can be used for any decision that involves an outlay now in order to obtain some future return (or cost savings). Typical decisions include: 5 Capital budgeting analysis can be used for any decision that involves an outlay now in order to obtain some future return. Typical capital budgeting decisions include: Cost reduction decisions. Should new equipment be purchased to reduce costs? Expansion decisions. Should a new plant or warehouse be purchased to increase capacity and sales? Equipment selection decisions. Which of several available machines should be purchased? Lease or buy decisions. Should new equipment be leased or purchased? Equipment replacement decisions. Should old equipment be replaced now or
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