Download as pdf or txt
Download as pdf or txt
You are on page 1of 23

综合证券市场 overall

股票市场的具体微观估值
7

领先于经济
Factors affect macroeconomy
I
2

Expansionary

high beta
Ek IT
1

Than
17 IT
EK

EE I
2

It

High Income GDP


His Spending
GO.v.ernm.pt Policy
affecting High Revenue forcompany
Budget
anflation Index investment ilith Profit
HighStockPrice
3

Bank Negara interest rate overnightrate

Increasing fafment
Interestrate between bank
Decreasing ExpansionMoneta
实际联邦基 利率
interest rate in long term short term 3monthsLong ShortT
期限利差 UpwardCuru
overview of investor expectation Ec P L
E RM Rf
viceKersa
difference between the return
If small distance on riskfree asset required return byinvestor
investor are more4.21N TreasuryBond BBB bonds
Sensitive to any changes in
the sector
t.FIAIH a

structure of the industry


4 17111
c

to what extent is the competitiveness


of an industry
l
2 Structural Impacts

A
B

A Peak

B Contraction
c
Trough

D Expansion

Time to invest in
3
Er
iii
dis

in

FSTFA

is
muskligned

Stock Bond Valuation


T.hnIYs
Bottom Up
s Approach

Market
industry Industry

Cotmpany
Company

You might also like