THE ESSENTIAL P/E: UNDERSTANDING THE STOCK MARKET THROUGH THE PRICE-EARNINGS RATIO
Book ID/图书代码： 05930012B54670
English Summary/英文概要： The price-earnings ratio, or P/E, is the most commonly quoted investment statistic, but have you ever considered what it actually means? For most people it’s a shorthand way of deciding how highly the market regards a company, with investors prepared to overpay for earnings from a high-P/E ’glamour’ stock as opposed to a low-P/E ’value’ stock. However, academics have known since 1960 that the opposite is true: value stocks outperform glamour stocks consistently over decades.
A company with a low P/E may have been marked down for no readily apparent reason and thus could represent an attractive value investment for those with the patience to wait while the market re-values it. However, the P/E is a backward-looking measure and just because the company earned ￡1 per share last year it doesn’t necessarily mean it will earn anything like that in the foreseeable future. Or, a low P/E can mean a company is deservedly cheap because it is in financial difficulty - in this case the company is likely to become cheaper yet or even go into administration.
This book is a practical guide to how you can adjust and improve the price-earnings ratio and use it, alongside other financial ratios, to run against the crowd and boost your stock returns.
Chinese Summary/中文概要： 市盈率，或P/E，是投资统计引用最普遍的，但是你曾经考虑过它实际上意味着什么吗？对于大多数人来说，它的一种简便方法，来决定市场认可一个公司的高度，投资者准备买那些高p / E“魅力”股而不是一个低P/ E“价值”股，从而获取收益。然而，学者从1960年就知道，事实恰恰相反：价值股股票几十年来持续表现出魅力。 一个低市盈率的公司可能已经被记下，没有明显的原因，因此对于那些有耐心等待市场重新评估它的人，可以呈现出一个有吸引力的价值投资。然而，P/E是一个保守的测量，只是因为该公司去年每股赚到￡1，它并不一定意味着，在可预见的未来它也将获得类似的收益。或者，一个低P / E可能意味着一个公司是理所当然地便宜，因为它处于金融困难时期——在这种情况下，公司很可能会变得更便宜或者甚至被监管。
这本书是一个实际的指导，告诉你可以如何调整和改善市盈率并使用它，结合其他财务比率，来对抗大的潮流并且提高你的股票收益。(LNL)
Awards/获奖情况：“我极力的推荐这本书。“——Werner De Bondt, Richard H. Driehaus行为金融学中心的教授和主任。 "I recommend this book with great enthusiasm."---Werner De Bondt, Professor and Director, Richard H. Driehaus Center for Behavioral Finance
About the Author/作者介绍： 在埃克塞特的数理统计和运筹学研究所完成了他的科学学士学位之后, Keith Anderson作为系统开发人员工作了很多年,最近在法兰克福的德意志银行工作。然后他在斯特林的投资分析学校获得了理科硕士学位,在那里, 同一年他赢得了作为最高学术奖的莫理奖。为了拿到这个国际资本市场协会中心,雷丁大学的博士学位, Keith展现了不同的计算市盈率的方法，这个方法会极大地提高投资者的回报率。 在2008年搬到纽约之前，他杜伦大学商学院担任了两年的讲师。Keith已经写了许多的书、文章和论文。
After completing his BSc in Mathematical Statistics and Operational Research at Exeter, Keith Anderson worked for some years as a systems developer, most recently at Deutsche Bank in Frankfurt. He then did an MSc in Investment Analysis at Stirling, where he won the Morley Prize as the top academically in his year. For his PhD at the ICMA Centre, Reading University, Keith showed that different ways of calculating the Price-Earnings ratio could significantly improve investor returns.
He worked as a lecturer at Durham University Business School for two years before moving to York in 2008. Keith has written a number of books, papers and articles.
Format:TRADE PAPERBACK
Rights Status/版权销售情况：Simplified Chinese/简体中文：AVAILABLE
Complex/Traditional Chinese/繁体中文：AVAILABLE
Sales in other countries/其他国家销售情况：
原文第一章内容：暂无
手稿：暂无
大纲：暂无