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expectation investing

operators.macro-ops.com · 6,177 words · saved by 1 readers

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Expectations Investing: Reading Stock Prices for Better Returns Michael J. Mauboussin Chief Investment Strategist Legg Mason Capital Management Baltimore Investing relies on expectations, and revisions in expectations trigger changes in stock prices. Accurately measuring expectations, therefore, is the key to improving stock selection. Expectations investing requires (1) the development of a conceptual framework, (2) a clear understanding of valuation, including cash flow, the cost of capital, and the forecast horizon,…

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