This diploma thesis covers value investing process defined by adherents of Graham and Dodd. Theoretical aspects of this principle are explained with special focus devoted to determination of intrinsic value using three step process utilizing information from value of assets, earnings power value and value of growth. We pay attention to strategic considerations that should facilitate an analyst to more reliable conclusions. Using European markets data, analytical part of this work examines return of mechanically compiled value and growth portfolios and presence of value premium. We than analyze return of existing value portfolios.

This thesis explains how ETF (Exchange Traded Fund) works and contains a comparative analysis of selected mutual funds (distributed in Czech Republic) net returns with comparable ETF funds investing into same equity category -- USA, World, European and emerging markets equities. The objective of the thesis is to find out if ETF funds can offer better net returns to the investor than common mutual funds.

As the world becomes more connected, issues surrounding sustainable development are coming to the fore of global discussions. This is exemplified in strategies such as the United Nation's Sustainable Development Goals (SDGs), released in 2015, which created a framework for global development that defines specific goals for issues like poverty, climate change, and social justice. To complement the analysis that went into defining the SDGs, capital allocations around the world are becoming more impact focused so that the paradigm of development is shifting from donations to impact investments. The push for impact, however, has led to a homogenization of global challenges like reproductive health and poverty. This, in turn, has led to a standardization of information resulting in agencies designing interventions based on data and information that is misguided because of incorrect assumptions about a specific context. This paper explores how the decision-making mechanisms of global development agencies and investors could apply more anthropological processes to mitigate negative impact. As the development sector becomes more and more standardized, anthropologists can act as translators between affected communities and the institutions deciding how best to help them.

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 aim of my Dissertation has been the formulation of proposals for creation the passive income. The completed work focuses on the specific environment of the Brno based company REWIN BRNO, s.r.o., aut the work has been creation for all users. This work provides the formulation of a detailed model how to archieve the stated aim in the most effective way with the minimum risk of damage to the company´s long-term stability. And create mine of financ for running of firm in unfavourable time.

The aim of this master thesis is to create investing stock portfolio using value screening, money aggregate MZM and stock prices of chosen companies. Funding is realized by Dollar-cost averaging method. First part introduces reader to stocks and its place at financial market. Afterwards comes introduction to investments and applied Dollar-cost averaging method and authors customisations of this method. Final part contains results of customised Dollar-cost averaging method and suggestion for its usage at financial market.

This paper analyses the difference in risk-adjusted returns between Sin-stocks and SRI-investing for the period 2001-2021. The analysis was conducted by creating two optimally risky portfolios according to the Modern Portfolio Theory, one comprised of only Sin-stocks and one with only high ESG scoring companies. The Sin-stocks contained stocks from four different sectors, alcohol, gambling, tobacco and weapons while the companies for the SRI-portfolio was chosen from the FTSE4Good index. The regression models were chosen to follow both the CAPM, and the Fama & French three factor model and the regressions were in the end conducted with the GARCH model which showed results that both the SRI-portfolio and the Sin-portfolio had a general excess return over the market. The two portfolios were also compared with the help of Sharpe Ratio and Jensen’s Alpha. The Sharpe ratio as well as the Jensen’s Alpha showed that the Sin-portfolio had the highest risk-adjusted returns. In conclusion, the SRI-portfolio as well as the Sin-portfolio both outperformed the market during the time period 2001-2021 and they were both less volatile than the market.

This thesis addresses the analysis and design of automatic trading system on currency markets using breakout strategy for capital appreciation for company ALFA – zdravá výživa. The description of implementation of this strategy on chosen trading platform and its summary will represent an output of this thesis.

The diploma thesis deals with fundamental share analyss in order to propose a variant of investing in shares of selected gold mining companies. The subject is macroeconomic analysis of the environment in which selected gold mining companies operate, gold industry analysis and company analysis comprising evaluation of the development of corporate indicators and their issued shares. On the basis of these analyzes ind inter-company comparison, the most profitable options will be proposed to the management of the hedge fund.

Investors constantly seek to secure business ventures and structures that will provide them with the most tax-efficient consequences by utilising loopholes in tax legislation and exploiting them within the legal requirements. With the recent growing interest in the undeveloped markets in Africa, many South African companies aim to invest into Africa in a tax-efficient manner. Mauritius, being a low tax jurisdiction and having a favourable tax treaty network with a large number of African countries, is an attractive choice for South African companies wishing to set up a platform for investing into Africa. The aim of this study was to address the shortcomings of efficient tax planning and the approach to invest into Africa using Mauritius as gateway for South African resident companies. The study focused on the tax implications of an offshore trust and offshore company incorporated in Mauritius for tax-efficient investing in order to minimise taxes. Therefore this study did not focus on using Mauritius for tax evasion purposes and a qualitative approach was applied, using a hypothetical case study to determine the most tax-efficient organisational structure for minimising taxes. The findings of the study revealed that, on a balance of case law and tax legislation, a tax-minimising organisational structure is largely influenced by its residency status and South Africa‟s control foreign company (CFC) legislation. Residency for an offshore trust and offshore company will be at the place where it is effectively managed. The findings revealed that the tax consequences are similar for an offshore trust and offshore company in Mauritius legislation. However, the hypothetical case study revealed that the impact of the CFC legislation can have negative consequences for a structure where only an offshore company is used, and therefore the ideal tax-minimising structure will be where a South African company uses a combination of an offshore trust and offshore company in Mauritius in order to avoid the possibility of CFC legislation having an impact on such a structure. / Dissertation (MCom)--University of Pretoria, 2012. / Taxation / unrestricted