MKF_ACP1 The Security Analysis 1

Faculty of Economics and Administration
Autumn 2020
Extent and Intensity
26/0/0. 6 credit(s). Type of Completion: zk (examination).
Taught online.
Teacher(s)
doc. Ing. Martin Svoboda, Ph.D. (lecturer)
Ing. Dagmar Vágnerová Linnertová, Ph.D. (lecturer)
prof. Ing. Oldřich Rejnuš, CSc. (seminar tutor)
Ing. Dagmar Vágnerová Linnertová, Ph.D. (seminar tutor)
Guaranteed by
doc. Ing. Martin Svoboda, Ph.D.
Department of Finance - Faculty of Economics and Administration
Contact Person: Iva Havlíčková
Supplier department: Department of Finance - Faculty of Economics and Administration
Timetable
Fri 13. 11. 12:00–15:50 P103, Sat 21. 11. 16:00–19:50 P103, Sat 12. 12. 16:00–19:50 P103
Prerequisites (in Czech)
! MPF_ASAN Security Analysis
Course Enrolment Limitations
The course is also offered to the students of the fields other than those the course is directly associated with.
fields of study / plans the course is directly associated with
Course objectives
Student will be able to oriented in methods of security analysis, use particular financial market indicators and analyses an individual security. According these information he will be able to recommend a particular investment decision and evaluate and use information form annula reports of companies and internet.
Learning outcomes
Student will be able to:
- determine the term value from the point of the financial theory;
- characterize particular models for intrinsic value determination and investigate the suit models for a stock and a market;
- stipulate Private Equity value;
- use methods and tools of charting theory;
- define investment strategy, investment recommendation and set timing.
Syllabus
  • List of lectures:
  • 1 Introduction
  • 2 Return Concept and Costs of Capital
  • 3 Fundamental analysis: global level and industry level - life cycle of an industry, industry sensitivity, market structure of an industry
  • 4 Fundamental analysis: discount dividend valuation
  • 5 Fundamental analysis: FCF concept
  • 6 Fundamental analysis: Market Base Valuation
  • 7 Fundamental analysis: Residual Income Valuation
  • 8 Private company valuation
  • 9 Technical analysis - introduction
  • 10 Technical analysis, charting, cont.
  • 11 Psychological analysis -Kostolanyho, Drasnerova, Keynesova concept, Epsteinové a Garfieldova investment psychology, Code of Ethics & Standards of Professional Conduct
  • 12 Theory of speculative bubbles, behavioural finance, Efficient Market Hypothesis
Literature
    required literature
  • PINTO, Jerald E., Elaine HENRY, Thomas R. ROBINSON, John D. STOWE and Stephen E. WILCOX. Equity asset valuation. Third edition. Hoboken, New Jersey: Wiley, 2015. xix, 595. ISBN 9781119104261. info
  • VESELÁ, Jitka. Investování na kapitálových trzích. 3. vydání. Praha: Wolters Kluwer, 2019. 950 stran. ISBN 9788075982124. info
    recommended literature
  • REJNUŠ, Oldřich. Finanční trhy (Financial markets). 4., aktual. a rozšířené. Praha: Grada Publishing, 2014. 768 pp. Profesionál, 3593. ISBN 978-80-247-3671-6. info
  • MUSÍLEK, Petr. Trhy cenných papírů. 2., aktualiz a rozš. vyd. Praha: Ekopress, 2011. 520 s. ISBN 9788086929705. info
  • DAMODARAN, Aswath. Damodaran on valuation : security analysis for investment and corporate finance. 2nd ed. Hoboken: Wiley, 2006. xi, 426. ISBN 0471751219. info
  • GRAHAM, Benjamin and David L. DODD. Security analysis : principles and technique. 2nd ed. New York: McGraw-Hill Book Company, 1940. xiii, 851. ISBN 007141228X. info
Teaching methods
Individual lecture, reading, homeworks
Assessment methods
Lectures are scheduled in three blocks of four hours, according to thematic areas as follows:
Tutorial 1 - themes 1 - 4, calculation of sample examples
Tutorial 2 - themes 4 - 7, calculation of sample examples
Tutorial 3 - progress test, themes 8 - 9, calculation of sample examples
Schedule of thematic content of each tutorial according to schedule.
Conditions of course completion:
Writing a control test by the date of the last tutorial. The test will be focused on basic calculations and will correspond to the content of the course from   1. and the 2nd tutorial. Exercises stored in the interactive syllabus of the subject can be used for preparation. The condition for admission to the exam is to pass the test at least 60 percent, the test is 90 minutes. The term of the test is only one, an excuse is possible only in case of excuse not attending the tutorial in IS through the Study Department.
The final exam is only written - "multiple choice" - theoretical part.
The following grading scale applies to students' assessment, which reflects the points received by the student in the control test and points from the final examination: A 92 - 100%, B 84 - 91%, C 76 - 83%, D 68 - 75%, E 60-67%, F less than 60%)
Any copying, recording or leaking tests, use of unauthorized tools, aids and communication devices, or other disruptions of objectivity of exams (credit tests) will be considered non-compliance with the conditions for course completion as well as a severe violation of the study rules. Consequently, the teacher will finish the exam (credit test) by awarding grade "F" in the Information System, and the Dean will initiate disciplinary proceedings that may result in study termination.
Language of instruction
Czech
Further comments (probably available only in Czech)
The course is taught annually.
Information on the extent and intensity of the course: tutorial 12 hodin.
Credit evaluation note: k = 1.
Listed among pre-requisites of other courses
The course is also listed under the following terms Autumn 2009, Autumn 2010, Autumn 2011, Autumn 2012, Autumn 2013, Autumn 2014, Autumn 2015, Autumn 2016, Autumn 2017, Autumn 2018, Autumn 2019.
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