This monograph focuses on the implications of current measures of country risk for asset pricing and investment management. The authors highlight the relationship between country risk and asset returns and provide some insight into how different risk-rating providers evaluate risk. CFA This tutorial clarifies the important concepts, principles, and vocabulary related to currency management from the point of view of an investment manager. It discusses the fundamental mathematics of exchange rates and tendencies that have been manifest in the past. The book deals with using currency management not only to reduce risk but also to enhance return and provides a simple performance measurement framework.
Appendixes summarize the algebra and currency relationships, and reference lists are included.
The goals of this monograph are to provide a means of incorporating accounting earnings in valuation models and to increase understanding of how income statements can be used to assess the quality and persistence of a company's earnings. The authors review equity valuation models, discuss how accountants classify earnings into recurring and nonrecurring components, and review the large body of research on the relationship between financial accounting information and security valuation. Two new studies using responses of more than 100 professional analysts indicate that the way accounting data are reported affects analysts' valuation judgments. CFA The objective of this monograph is to develop a process for forecasting long-term returns based on a firm economic foundation. The authors examine returns available to the providers of financial capital and how these returns are generated among the myriad assets.