I. What exactly is value investing?
Definition of Value Investing
- Growth versus value investing
- Value extraction process
- Market timing belief
Different assumptions in Value Investing
- Efficient market hypothesis à what has it got to do with value investing?
- Is there value in active research?
- Short-term mispricing of assets
II. Industry analysis – Business model template
- Why is industry analysis important?
- Success driving factors
- Risk factors
- Sector classification
- Importance of case study
III. What tools to use for valuation?
Is there a need for valuation?
- Assumptions behind valuation
- What does valuation attempts to achieve
- Concepts of fair value
- Introduction to traditional valuation parameters (comparables)
- Introduction to traditional valuation parameters (flow)
- Introduction to modern parameters
IV. Excel spreadsheet modeling
The war machine behind any stock analyst’s report
- Rationale behind modeling
- Standard operating procedure
- Importance of assumptions
- Sensitivity analysis
Alan Lok is the Director of Sabio Global Singapore and has 10 years’ experience in the finance and strategic consulting industry spanning across Australia, China, Hong Kong, Malaysia and Singapore.