Titlebook: Assessing Relative Valuation in Equity Markets; Bridging Research an Emanuele Rossi,Gianfranco Forte Book 2016 The Editor(s) (if applicable

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Introduction,s the . on equity valuation, we prefer to enhance the current knowledge on the topic asking ourselves what kind of performance we may expect from this equity valuation tool given its widespread use in the business community of equity analysts, investment bankers and portfolio managers.

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Relative Valuation: Issues and General Framework,ouped as absolute valuation methods to equity evaluation. These models come up with some drawbacks when practitioners try to implement them. Market-based valuations based on multiples, on the other hand, present many advantages but we must be aware of their limitations too.

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Book 2016book‘s approachis twofold: the authors first analyse the performance of multiples metrics inpredicting the market price of a set of liquid and highly traded US stocks. Theauthors then employ these results to test profitable stock purchasingstrategies employed in order to ‘beat the market‘. The resul

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Accuracy Performance of Relative Valuation,ly used multiples and to understand if a specific multiple exists that is able to outperform the others. In doing so we are able to widen the comprehensive understanding on “market performances” of the tools practitioners are handling in their everyday work. In addition, a relevant feature of our wo

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,A Portfolio Approach: Multiples’ Accuracy and Stock Selection,t is twofold. On the one hand, we try to test whether a link exists between large valuation errors and future price performance; and on the other, to understand if the multiples previously introduced can be utilized as investment criteria to build profitable investment strategies..As a result, the i