[pt] Com o intuito de obter parte do lucro futuro de uma empresa, o investidor adquire uma ação - título que representa a menor parcela do capital de uma empresa. Tal investidor, interessado em investir em ações, se depara com uma primeira decisão a tomar: em quais ações investir. Existem diversos métodos para a seleção de ações, podendo ser classificados em métodos puramente objetivos, puramente subjetivos e métodos compostos. O presente trabalho visa propor um método composto, baseado no modelo multicritério Analytic Hierarchy Process (AHP), para ordenar as ações nas quais o investidor deve investir dado um determinado grupo de ações pré-selecionado. Com base no presente estudo, o modelo proposto demonstrou ser uma ferramenta de simples aplicação e viável para que qualquer investidor – dos mais qualificados aos menos qualificados – possa tomar a decisão de escolha de ações utilizando esta ferramenta. Dentre a amostra de 10 ações pré selecionadas, as empresas que obtiveram maior pontuação, e por isso, fariam parte do portfólio de ações, foram: Itaú Unibanco, BMF Bovespa e Vale. / [en] In order to obtain a part of the future profit of a company, an investor buys a stock - the smaller share of a company s capital. The investor, interested in putting money into stocks, faces his/her first decision: in which stock to invest. There are several methods to select the stocks which can be classified as purely objective method, purely subjective and combined method. This paper intends to propose a combined method based on the multicriteria model Analytic Hierarchy Process (AHP) in order to rank stocks for investors to choose his/her investments from the given group of stocks. Based on this study, the proposed model proved to be a simple application tool and viable for any investor - from the most qualified to least qualified - be able to make decision of choosing stocks using this tool. Among the sample of 10 pre selected stocks, the ones which achieved a higher score, and therefore would be part of the portfolio of shares, were: Itaú Unibanco and Vale BMF Bovespa.

The primary purpose of this study is to test whether a value-based investment strategy will outperform a growth-based investment strategy when applied to SAREIT investment. The secondary purpose is to assess whether the SAREIT investor can discriminate between strong and weak value-REITs through sound accounting-based fundamental analysis using the F-Score Model. Building on existing research on value-based investment strategies and market efficiency, this study offers an SAREIT perspective to the existing body of knowledge on value investing theory through portfolio selection based on P/NAV, P/E, P/CF and DY ratio analysis. The holding period returns of the respective value-based portfolios are compared to their growth-based counterparts for an examination of relative performance. The evidence from this research does not offer probabilistic support that a value-based approach to SAREIT selection and investment will outperform a growth-based approach, nor that it is possible to discriminate between financially strong and weak value-REITs through sound accounting-based fundamental analysis using the F-Score Model. Further research is required to develop the said strategies and models for application to the SAREIT sector.

The subject of this diploma thesis is to analyse the Dolkam Šuja Company, a.s. Through the selected methods, described in the first part, the company’s current situation is evaluated and on its basis the measures for improving the current state of the company are proposed.

The purpose of thesis is to compare the selected methods of predictive technique on the capital markets. I have processed the comparison of methods through the practical application of them in practice to share the selected title in a particular period of time. The objective of the selected methods comparison is signal detection of them in the chosen time period.

This diploma thesis includes analysis of the INTERMONT s.r.o. company based on account statements and information given by the firm. It is focusing on an overall review of the firm standing and tries to assess its internal situation and the environment as well. SWOT analysis and Quick test is elaborated in the conditions of the firm. From these points of view proposals improving the firm position are presented.

This master’s thesis is aimed at practical use of fundamental analysis of stocks. Its main goal is, on the basis of defined procedures, to analyze and valorize companies ČEZ, a. s., ECM Real Estate Investments A. G. and then decide about possible investments into the stocks of these companies. This thesis is divided into two main parts. First part deals with theoretical solutions of fundamental analysis and brief comment of another two ways how to analyze stocks – graphic and psychological analysis. In second part there is a practical elaboration of fundamental analysis for aforesaid companies and, in the end of this thesis, there is a summary of achieved results with brief commentary for possible investors.

The aim of this thesis is to design an investment strategy focused on tool called CFD. The first theoretical part contains basic information about financial derivates and explains basic principles of trading on stock market with contracts for difference. Chapter of the investment analysis explains the methods and rules used in trading. The practical part presents the results of my trading CFDs and evaluated my proposed strategy along with the benefits of work.

The main aim of this diploma thesis is to analyze the options of trading Forex by combining fundamental and technical analysis in connection to intraday trading. One of the goals is to identify pros and cons of these analysis. Based on the gained information, design trading portfolio consisting of different strategies. Each strategy will be programmed as automated trading system and optimized and tested on historical price data.

The problem associated with value shares is that they may remain undervalued for an extended period of time. Therefore, determining when to buy value shares has been the focus of many investors and academics. Studies have determined fundamentals provide valuable information when selecting shares while price momentum provides a decent timing indicator. This research examines a novel share selection approach which seeks to combine fundamentals with momentum to obtain a leading timing indicator.This research seeks to determine if the fundamental momentum indicator can successfully and consistently separate value winners from value losers. The value portfolios were formed using a composite valuation measure made of three separate indicators. The Value portfolio was then ranked based on the strength of the fundamental momentum indicator.This research identified that Leverage Factor and Current Ratio momentum was able to separate value winners from losers in a consistent manner. However, only Current Ratio momentum was capable of creating portfolios which could consistently outperform the market. Therefore, this research identified that fundamental momentum could be used as a timing indicator when acquiring value shares. / Dissertation (MBA)--University of Pretoria, 2012. / Gordon Institute of Business Science (GIBS) / unrestricted

Advances in information technology have presented the potential to automate investment decision making processes. This will alleviate the need for manual analysis and reduce the subjective nature of investment decision making. However, there are different investment approaches and perspectives for investing which makes acquiring and representing expert knowledge for share evaluation challenging. Current decision models often do not reflect the real investment decision making process used by the broader investment community or may not be well-grounded in established investment theory. This research investigates the efficacy of using ontologies and Bayesian networks for automating share evaluation on the JSE. The knowledge acquired from an analysis of the investment domain and the decision-making process for a value investing approach was represented in an ontology. A Bayesian network was constructed based on the concepts outlined in the ontology for automatic share evaluation. The Bayesian network allows decision makers to predict future share performance and provides an investment recommendation for a specific share. The decision model was designed, refined and evaluated through an analysis of the literature on value investing theory and consultation with expert investment professionals. The performance of the decision model was validated through back testing and measured using return and risk-adjusted return measures. The model was found to provide superior returns and risk-adjusted returns for the evaluation period from 2012 to 2018 when compared to selected benchmark indices of the JSE. The result is a concrete share evaluation model grounded in investing theory and validated by investment experts that may be employed, with small modifications, in the field of value investing to identify shares with a higher probability of positive risk-adjusted returns.