AD 469 SECURITY ANALYSIS   (Spring 2015)         

Instructor:        Attila Odabaşı                                                           
Office:              IB 403;                       
Phone:             212-359 6806             
E-mail:             odabasi@boun.edu.tr
Web:                http://odabasi.boun.edu.tr
Meetings:        ThThTh 678;               Local: IB 201
Office Hours:  Tuesday and Wednesday 14:00-15:00, or by appointment   

Announcements:

 

Course Objectives:
Security Analysis exposes students to applied equity valuat ion techniques employed by finance professionals.   
Valuing a firm’s stock is a difficult task that requires a variety of macroeconomic, industry, and company-specific forecasts. The valuation process is rarely black and white. Two individuals may reach completely different conclusions from the same information. While there is no such thing as a “good” or “bad” assumption, some are clearly more supported than others.
You will not become an expert in one semester. Our primary goal for the course is to cultivate a solid understanding of basic valuation techniques and develop an aptitude for analyzing the primary drivers of a company’s value.  You should leave the course with the knowledge of how to apply several   valuation   models,   and   an   ability   to   comprehend   investment recommendations.
 
Required Material:
The lecture presentations will follow the material in:
Aswath Damadoran, Investment Valuation, 3rd Ed., 2012, John Wiley.

COURSE MATERIAL (From last year, subject to change)

Overheads Assignments Sample Exams - Questions
  Syllabus 
 Introduction
 Term Project Due date for the report: last day of the semester.   For Midterm:
 Practice Problems - Solutions  
 Quiz1
 Quiz1 Soltns
 Effcient Market Hypothesis    Sample mterm 2009 
 Sample mterm 2012
 Sample mterm 2014
 DCF Intrinsic_Valuation
 DCF Estimating_Discount_Rates_a  
 GetFormula_Function  For later use:
Quiz2
Quiz2 Soltns
Quiz3
Quiz3 Soltns
 DCF Estimating_Discount_ Rates_b    Sample Final, Key
 DCF Estimating CAsh Flows
 Tying up Loose Ends
 Equations from Damodaran  
    First draft of DCF excel: due before the spring break   Student Reports - Sample
 DCF Samples_1  3Mprecrisis, Coned, Tatasteel, Tube  Arcelik, TOFAS-FORD
 Relative Valuation Note: we will use part of this set  Reading: Fernandez Valuation by Multiples  
 Valuing Private Firms    Professional Valuation Reports - Sample
     CCola, TCELL
 Others:    
 Discount rate components used for Turkish Companies,    
 Account Names