Overview

Analytical approach to Investing Research A Market Insider's Analytical Approach Removes Management Fluff to Help Predict Forward Pricing and Valuation Based on Solid Principles That Can Be Quantified The earnings management and expectations management directly impacts the analytical forecasts in firm evaluation. Earnings and analyst forecasts are important inputs into accounting valuation models to reflect current and predict future firm performance. These models help predict the intrinsic value, however in recent years may have adversely affected the usefulness of the information. This book is meant to show that intrinsic value metrics estimated using manipulated earnings or forecasts have less ability to track stock prices and predict future returns. The usefulness of earnings and analyst forecasts provide evidence for the joint hypothesis of (i) long-term market efficiency and (ii) the negative impact of earnings management and expectations management i.e. Removing The Management Fluff. First, it challenges the conventional view that more accurate and less biased forecasts are necessarily of better quality and proposes to assess the quality of analyst forecasts. It also introduces an improved measure for expectations management and presents new evidence on (i) the usefulness of earnings and analyst forecasts in firm valuation; (ii) the negative impacts of earnings management and expectations management on this usefulness; and (iii) the overall performance of accounting valuation models in firm valuation. Dr. Pat O'Leary, Ph.D. Accounting MBA, CMA, CFM, CNE, B. Commerce Born in Brantford, Ontario, Canada, Pat has always been motivated to succeed and dedicated to getting the best formal financial education possible, as evidenced by his many degrees and certifications. As he rose through the ranks in the corporate world, he gained extensive experience in corporate structuring, mergers, IPO's, international finance, foreign exchange, and manufacturing. His impressive educational background and financial experience have blended to form the analytical and practical approach to investing research that he presents in this book.

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