ASSESSING INVESTMENT SYSTEM .pdf

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1、Chapter10Chapter10AssessingInvestmentSystemsAssessingInvestmentSystemsI.教学目的Bytheendofthechapter,studentsshouldbeabletoknowabout:¾thewayinwhichinvestmentsystemswork;¾problemswithsomeoftheinvestmentsystems;II.教学计划Thischapterwillcover3hours.2hoursfortheintroductionofbackgroundinformationandexp

2、lanationsoftermsandthetexts.Andtheother1hourfordiscussionandpractice.III.III.教学方法教学方法¾Translation:keysentences.¾Paraphrasing:keywordsandexpressions¾Summarizing:keypassages.¾Discussion:importantissues.¾Questionsandanswers:interactionbetweenteachersandstudents.IV.背景知识Investmentsystemisakindofs

3、oftwarewhichoffersportfolioanalysisandevaluatestheperformanceofvarioussecurities.Itcollectsreal-timeinformationanddataofallkindsofinvestmentinstruments,suchasbonds,stocks,futures,options,funds,etc.►Thesedatacoverprices,salesvolumes,othernewsaboutthecompany,andtheoutsideinvestmentclimate.►The

4、investmentassessingsoftwarewouldprovideasystemtodrawanoverallconclusionbasedupontheabovementionedindices-dataandinformation.►Thenusersorclientsofthesystemcouldmaketheirinvestmentdecisionaccordingtotheconclusionofthesystem.Price-earningratio"P/E"forshort,isacommonlyusedwaytosimplisticallyvalu

5、eacompany(determinewhatacompany'sstockshouldbeworth).Itissimplyacompany'sstockpricedividedbyacompany'searningspershare.Thepricetoearningsratio,alsoknownas"P/E",iscalculatedbydividingthecompany'sstockpricebythecompany'searningspershare,or"EPS".TheP/Eratiogivesyouanindicationofhowmanytimesyoua

6、repayingforacompany'sstockverseacompany'searnings.ThereasonwhysomecompanieshaveahighP/Eisbecauseinvestorsbelievethatthecompany'searningswillbehigherinthefuture.P/Eratioscannotbeappliedtocompanieswithoutanyearnings.TocalculateitsP/Eratio,yousimplydividethecurrentstockpricebytheannualearningsp

7、ershare(EPS).IfitscurrentannualEPSis$3andthestockistradingfor$111pershare,theP/Eis$111dividedby$3,or37Bluechipstockthestocksofwell-establishedandstablecompanies.Bluechipstocksaretypicallyfromfinancially-soundcompaniesthathaveagoodrecordofproducinge