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EQUITY VALUATION : Science, Art, Or Craft
Qr Code EQUITY VALUATION : Science, Art, Or Craft

EQUITY VALUATION : Science, Art, Or Craft

Author:
Category: Economy And Money [Edit]
Language: English
Pages: 138
File Size: 1.36 MB
Extension: PDF
Creation Date: 08 Dec 2017
Rank: 454,663 No 1 most popular
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Book Description

Where do stock prices come from? The easy answer is that they are the outcome
of supply and demand; that is, the price of any given stock is that which
causes the quantity supplied to equal the quantity demanded.
Of course, that answer, like most easy answers, is unsatisfying. What
causes the supply and demand for a stock to be what it is? There are two sets
of players in the game that we call the stock market: (1) the sell side, consisting
of issuers (seekers of capital) and their agents, called “investment bankers” or
“stockbrokers,”1 and (2) the buy side, consisting of saver-investors (providers of
capital) and their agents, called “investment managers.

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