Book, Valuation How to Price Stocks 3/21[LS]

What is the fair value of a share? One of the biggest challenges for investors, administration and finance students or curious people trying to unravel the enigmatic world of stock markets is to find, in a single book, all the basic principles – objective and subjective – to define the fair price of an asset. Throughout the chapters, the author details the different paths that investment analysts and resource managers take to price assets and make decisions to buy or sell securities. The book is fruitful in its rigorous explanation of concepts and rich in the presentation of more than a hundred practical examples, which makes the work valuable for beginners in investing in shares. Professionals and experienced investors will enjoy debates on controversial topics and the detailed exploration of Valuation Theory, fully adapted to the reality of the Brazilian capital market. “I was at the launch of the first edition of the book Valuation – How to Price Shares. In these last two decades, Brazil has changed a lot. The country came to be seen as a great emerging power. The capital market, however, has not evolved to the same extent – ​​despite institutional advances. The time for the turning point has come. After the euphoria of consumption that had been held back for so long, the tendency is for there to be an increase in savings and the number of stock market investors. The book by Alexandre Póvoa, an experienced manager, is an excellent guide for those who want to launch themselves in the stock market. In addition to accounting and cash flow concepts, important instruments in asset pricing, the author provides practical examples, in an extremely didactic manner, even for common investors. In this complex and promising environment, it is not enough to be in the right boat. You need to have a good compass.” MARITA GRAÇA FEIJÓ BITTENCOURT, Editor-in-Chief of TV Globo. “This welcome relaunch highlights a gap in the Brazilian publishing market, which is the absence of good books on investments aimed at the slightly more ambitious reader in intellectual terms. Valuation – How to Price Shares goes far beyond the basic titles about money, which currently flirt without hesitation with self-help. This broader scope makes it mandatory reading for professionals and investors, guaranteeing depth and theoretical rigor, without academic staleness and without the profusion of mathematical demonstrations that are not very accessible to the lay reader.”CLÁUDIO GRADILONE, Finance Editor at Isto É Dinheiro e Ex- Finance Editor of Exame Magazine. “Alexandre Póvoa is one of the most equipped economists in the country today, and the relaunch of Valuation – How to Price Shares could not be at a better time. Brazil is going through a special moment and the capital market is essential for the country to continue moving forward. Póvoa's book is indispensable for everyone who gravitates around the topic of investments and fundamental for those who work with the assessment of asset prices. The work is certainly the most complete study ever carried out in the country on the art of pricing, which makes its presence on the shelves of investment banks mandatory. Despite the theoretical density of the book, the author constructs it in a way that makes it enjoyable to read, as Armínio Fraga rightly pointed out in his preface. It could not have been more opportune to have accepted the challenge of rewriting this important work. The capital market thanks you.”GUILHERME BARROS, CEO of the agency GBR Comunicação, having worked as a columnist in Revista Isto É Dinheiro, Portal Terra, Folha de São Paulo and Portal IG.APPLICATIONRecommended work for financial analysts, consultants, managers and market professionals looking to update themselves on valuation and value creation themes. Complementary reading for various subjects offered in undergraduate courses in Economics, Administration and Accounting, and also for lato sensu and MBA postgraduate courses.?