CFA 2019 Schweser - Level 2 SchweserNotes Book 3: EQUITY

Description

SCHWESERNOTES™ 2019 LEVEL II CFA® BOOK 3: EQUITY The study tool that started it all is taking CFA® exam prep to the next level. A favorite among CFA candidates for nearly 30 years, SchweserNotes™ is a key component as you prepare for the CFA exam and the core element to our Study Program. Absorbing the CFA curriculum in its entirety is no simple task. Make the most of your study time with clear, exam-focused study notes and examples that cover every Learning Outcome Statement in the most effective manner possible. More than just textbooks. SchweserNotes™ were first introduced in 1990 and quickly took off as a “must have” for CFA candidates. And although they are still available as physical books, as technology and candidate needs have evolved, so have SchweserNotes™: SchweserNotes™ eBooks are now included with each order of the Notes, making it easier for you to study on-the-go. Contents......Page 2 List of pages......Page 4 Learning Outcome Statements......Page 10 Module 26.1: Equity Valuation: Applications and Processes......Page 17 Key Concepts......Page 25 Answer Key for Module Quizzes......Page 27 Module 27.1: Return Concepts......Page 29 Key Concepts......Page 45 Answer Key for Module Quizzes......Page 49 Module 28.1: Forecasting Financial Statements......Page 50 Module 28.2: Competitive Analysis and Growth Rate......Page 54 Key Concepts......Page 68 Answer Key for Module Quizzes......Page 72 Module 29.1: DDM Basics......Page 75 Module 29.2: Gordon Growth Model......Page 81 Module 29.3: Multiperiod Models......Page 87 Key Concepts......Page 106 Answer Key for Module Quizzes......Page 111 Module 30.1: FCF Computation......Page 117 Module 30.2: Fixed and Working Capital Computation......Page 121 Module 30.3: Net Borrowing and Variations of Formulae......Page 124 Module 30.4: Example......Page 129 Module 30.5: FCF Other Aspects......Page 132 Key Concepts......Page 150 Answer Key for Module Quizzes......Page 153 Module 31.1: P/E Multiple......Page 159 Module 31.2: P/B Multiple......Page 163 Module 31.3: P/S and P/CF Multiple......Page 165 Module 31.4: EV and Other Aspects......Page 172 Key Concepts......Page 191 Answer Key for Module Quizzes......Page 197 Module 32.1: Residual Income Defined......Page 202 Module 32.2: Residual Income Computation......Page 205 Module 32.3: Constant Growth Model for RI......Page 209 Module 32.4: Continuing Residual Income......Page 212 Module 32.5: Strengths/Weaknesses......Page 217 Key Concepts......Page 223 Answer Key for Module Quizzes......Page 227 Module 33.1: Private Company Basics......Page 232 Module 33.2: Income-Based Valuation......Page 237 Module 33.3: Market-Based Valuation......Page 250 Module 33.4: Valuation Discounts......Page 255 Key Concepts......Page 261 Answer Key for Module Quizzes......Page 265 Topic Assessment: Equity Valuation......Page 271 Topic Assessment Answers: Equity Valuation......Page 275 Formulas......Page 278