# Af Formula

In: Other Topics

Submitted By dinhhiep112
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Market capitalization – number of shares outstanding multiplied by price per share (do not confuse with market capitalization rate).
Liquidity – the ability to convert an asset into cash easily and at fair value * Long position – if you are “Long” a stock, you own it. * Short position -- If you are “Short” as stock, you have shorted it. Order Type | Purpose | Trigger price | Market Order | Trade (buy, sell or short) at current price | N/A | Limit buy | Buy at an attractive price | Below current price | Limit sell | Sell at an attractive price | Above current price | Stop-loss | Limit loss on a long position | Below current price | Stop-buy | Limit loss on a short position | Above current price | * Limits and Stops are called contingent trade orders because the trade is contingent on the price. * Margin percentage = equity/stock * Equity=Assets-Liabilities * For long positions the stock is an asset

rf= 30 year treasury (thay E(rm)-rf = MRP) * When the constant growth DDM holds, the stock price will grow at the same rate as dividends * Capital Gains Yield equals ‘g’ * The Expected HPR then is: * Growth Rate: g= ROE * b * b= plowback ratio= (1- payout ratio) * payout ratio = div/EPS * ROE = Net Income/Shareholder’s Equity * The capital asset pricing model (CAPM) defines the relationship between risk and return
E(RA) = Rf + A(E(RM) – Rf) * Risk-free rate
Analysts and Corporations typically use current market yields on long-term bonds * The expected risk premium of an asset depends on the market risk premium and the systematic risk of the asset

* the CAPM’s expected return-beta relationship * Intrinsic value : V0= intrinsic value ; E(D1) = expected dividend;E(P1) = expected price; k=market capitalization rate * Next year intrinsic value
Buy stock and hold it for 2...

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