I estimate BYD’s value at RMB277 per share, implying an upside of 30% from today’s price. This is derived from my DCF-based valuation using a WACC of 9.7% and a terminal growth rate of 3%.
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Present Equity Research That Wins the CFA Research Challenge
In this video, I go through the 10 elements that can help you win the CFA Institute Research Challenge. I wrote this from my own experience both as a judge and more importantly as a financial analyst all my career.
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Can the World’s Largest Carmaker Handle the ESG Pressure?
EV skepticism could become costly in woke environment, demand rebound makes up for lost production, and ongoing share repurchase program keeps returns alive.
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Everything about Share Buybacks
In this post I provide important research on the topic of share buybacks.
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Is Mercedes-Benz’s Restructuring Enough to Close the Tech Gap with Tesla?
Planned restructuring to turnaround profitability and value, accelerated electrification necessary to stay competitive, and strategic partnerships to bring autonomous driving forward.
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How to Write Equity Research That Wins the CFA Research Challenge
I wrote a piece about the 8 elements needed to write an equity research report that wins the CFA Research Challenge.
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What Is Going to Happen with Inflation?
Many forces at work impact inflation. There are current trends that cause both inflationary and deflationary measures. Whether we’ll see inflation or deflation in the future depends on which of these forces dominate.
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How to Value a Startup
This story started when Dan, a podcast listener, replied to my recent weekly email with this question, “How do you value a startup, especially if there is no revenue?”
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How to Fight Back When Your Dreams Are Crushed
The trouble you face is not your fault, and I’m gonna show you how you can fight back. I challenge you to recommit to your dreams today!
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What Does It Mean to Be Financially World Class?
To determine a World Class Company, we focus on one measure, Profitable Growth. This is a composite of two measures that matter most regarding share-price performance: Profitability and growth relative to global sector peers.
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