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Learning that drives better investment decisions

Valuation

VMC: WACC – Theory versus Reality

Since debt is cheaper than equity, in theory, this would mean that a company would prefer to be fully funded by debt to minimize its cost of capital. However, it’s not the case in reality that a company has a capital structure that is 100% debt.

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8 Value Investing Icons

Value investing is the idea that you can achieve superior investment performance through buying stocks at prices that appear to be below the “intrinsic value” of the business. The investor tries to estimate the intrinsic value of a business through a variety of means such as price-to-book, price-to-earnings, tangible assets value, dividend discount value, or free cash flow value.

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VMC: On the Rise of CFA Candidates in Asia

The CFA program has long been viewed as an essential qualification for anyone hoping to enter the lucrative world of investment banking. First conceived in 1942, the CFA program is now one of the US’s most successful exports. And in Asia, the credential is becoming ever more highly prized.

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