Feb 12 2010 Sap

Stock Analyst Program 2010 Driss Kaitouni [email_address] Jamie Tucker [email_address] Honours in Investment Management, Wharton Exchange Fall 2009 February 12, 2010

Winter 2010 Overview ,[object Object],Stock Analyst Program 2010 Date Topic Date Topic Jan 29 Overview, Valuation, Resources to Start Mar 5 More Applied Valuation Feb 5 What is Price Action? Multiples Analysis Mar 12 Applied Technical Analysis (equities, commodities, FX) Feb 12 Stock Screening & Risk Management Mar 19 TBD Feb 19 Cancelled: Reading Week Mar 26 Cancelled Feb 29 Cancelled: Reading Week Apr 2 Final SAP Presentations

Agenda ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Stock Analyst Program 2010

Research Report Composition ,[object Object],[object Object],Stock Analyst Program 2010

Evaluation Criteria (1) ,[object Object],[object Object],Research Report Evaluation Stock Analyst Program 2010

Where to Trade Online Broker Ratings – Trading (Barron’s) Source: http://online.barrons.com/article/SB120554254483438485.html Stock Analyst Program 2010

Where to Trade Online Broker Ratings – Investing (Globe & Mail) Source: http://www.theglobeandmail.com/report-on-business/online-broker-rankings/the-11th-annual-online-broker-survey/article1348448/ ,[object Object],[object Object],Stock Analyst Program 2010

Where to Trade ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],But, Beware... Source: http://online.wsj.com/article/SB10001424052748704337004575059960489864970.html?mod=djintinvestor Stock Analyst Program 2010

Stock Screening ,[object Object],[object Object],[object Object],Value Investing Growth Investing Contrarian Investing GARP Investing ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Stock Analyst Program 2010

Stock Screening ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Ben Graham (Value Investor) Stock Analyst Program 2010

Stock Screening Warren Buffett - First Stage Analysis ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Source: John Reese, Todd Glassman; “Market Gurus.” Stock Analyst Program 2010

Warren Buffet - Second Stage Analysis (Properly Priced?) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Stock Screening Source: John Reese, Todd Glassman; “Market Gurus.” Stock Analyst Program 2010

Warren Buffett - Second Stage Analysis Cont. Stock Screening ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Source: John Reese, Todd Glassman; “Market Gurus.” Stock Analyst Program 2010

Stock Screening ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Peter Lynch (GARP Investor) Stock Analyst Program 2010

Stock Screening William O’Neal (Growth Investing) Source: John Reese, Todd Glassman; “Market Gurus.” ,[object Object],Stock Analyst Program 2010

Stock Screening ,[object Object],[object Object],[object Object],[object Object],[object Object],David Dreman (Contrarian Investor) Stock Analyst Program 2010

Stock Screening Value vs. Growth (P/B Deciles vs. 5-Year Annualized Return) Source: “Value vs. Glamour: A Global Phenomenon” – Brandes Institute (2008) Stock Analyst Program 2010

Stock Screening ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Useful Stock Screeners Stock Analyst Program 2010

Risk Management ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Quotes Stock Analyst Program 2010

Risk Management Never Lose … .but pick your tolerance level for losing, @ which point you need to stop and reevaluate yourself, your rules, and your strategy Stock Analyst Program 2010

Risk Management Considerations ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Max Risk Potential Profit Stock Analyst Program 2010

Risk Management Example 32 pips 73 pips BUY if channel is respected TAKE PROFIT below session high STOP LOSS below previous low ACTIVATE TRAILING STOP Max Risk Potential Profit 0.43 73 pips 32 pips 2.28 now Stock Analyst Program 2010

Risk Management More Considerations ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Stock Analyst Program 2010

Risk Management Equity Curve Stock Analyst Program 2010

How to Start… ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Important Resources Stock Analyst Program 2010

Research Report Composition ,[object Object],Date Topic Date Topic Jan 29 Overview, Valuation, Resources to Start Mar 5 More Applied Valuation Feb 5 What is Price Action? Multiples Analysis Mar 12 Applied Technical Analysis (equities, commodities, FX) Feb 12 Stock Screening & Risk Management Mar 19 TBD Feb 19 Cancelled: Reading Week Mar 26 Cancelled Feb 29 Cancelled: Reading Week Apr 2 Final SAP Presentations Stock Analyst Program 2010

Feb 12 2010 Sap

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Feb 12 2010 Sap

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