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The effectiveness of chosen fundamentals analysis methods on the Czech market
Eliašová, Mária ; Veselá, Jitka (advisor) ; Polák, Michal (referee)
The thesis is dealing with selected methods analysis of fundamentals analysis on the Czech market in a period of year 2006 -- 2010. First chapter is thinking about theoretical bases of the theses, concretely offers basic characteristic and overview of discount models of dividend and the models of interest for setting the share intrinsic value . This will be used in a practical part of dissertation. The second chapter is focusing on the shares evaluating by dividend discounted models and their fruitfulness in the time. In the begining are companies characteristics which shares create the sample used to succesfulness models testing. After this part follows analysis of selected inputs which are used to the final evaluating. The third chapter is answering the questions about analysis of interest models and about the general evaluating of the fruitfulness of all selected models in the individual backdrops.
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Value Investing
Kubínyi, Tomáš ; Hnilica, Jiří (advisor) ; Smrčka, Luboš (referee)
Master Thesis intends to introduce Value Investing as an alternative invetment philospohy. Topic of the text also includes a discussion about inefficiencies in the current investment industry. Lastly, Dow Jones 30 analysis is performed.
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Fundamental and technical analysis of stock Philip Morris ČR
Klimánková, Renata ; Smrčka, Luboš (advisor) ; Schönfeld, Jaroslav (referee)
The master's thesis deals with the fundamental and technical analysis of stock Philip Morris ČR. The aim of the thesis is a specification of investment recommendation. The fundamental analysis specifies an intrinsic value of the stock Philip Morris ČR, compares it with a real stock price and recommends sale or purchase of this stock. Technical analysis uses graphical methods and technical indicators to determine an appropriate time to sale or purchase this stock.
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Testing of success of fundamental analysis methods in selected sectors
Zemková, Kateřina ; Veselá, Jitka (advisor) ; Vorek, Marián (referee)
The aim of this thesis is to introduce the theoretical and practical aspects of fundamental analysis. The thesis is divided into three main parts in which global analysis and sector analysis is gradually performed and in the last part a valuation of selected equities is performed. Emphasis is placed on the financial sector and manufacturing of tobacco products. In the financial sector the equities of Komerční banka and Erste Bank Group are analyzed and the representative of manufacturing of tobacco products is Philip Morris ČR. After determining the intrinsic value of the shares by several methods, their market position is concluded. Finally, the success of the chosen methods is evaluated.
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Fundamental analysis of stock Vienna Insurance Group
Zápalka, Tomáš ; Veselá, Jitka (advisor)
This bachelor thesis focuses on fundamental analysis of the insurance company Vienna Insurance Group. The topic is divided into three chapters. The first chapter deals with the global fundamental analysis, in which is the power of influence of macroeconomic variables on stock prices expressed in correlation coefficients. The sectoral analysis of underlying, as the theme of the second chapter, deals with the insurance sector. The third chapter is focused on the company's fundamental analysis.
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Analysis of renewable energy investment opportunities
Haňáková, Helena ; Brada, Jaroslav (advisor) ; Osička, Štěpán (referee)
The thesis deals with the assessing of investment opportunity in the field of renewable natural resources. Fundamental analysis is carried out on First Solar which is a company producing solar modules. Thus, the work is focused on the area of photovoltaics. To determine the company's value, the method of discounted cash flow is used. The overall situation of the company is analyzed by the implementation of global, industry and company analysis.
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Methods of prediction of currency courses
Pour, Jiří ; Brůna, Karel (advisor) ; Langer, Miroslav (referee)
The bachelor thesis deals with two methods of prediction of currency courses - the Power Price Parity theory and the Balance of Payments theory. At the begining there is a description of a currency course in general and basic methods of its prediction - fundamental and technical analysis. The main part of the thesis deals with the two methods of prediction mentioned above. Each theory is described, criticised and empirically compared with historical data from years 1999-2010 in separated chapters. The chapter about the balace of payments includes lots of charts illustrating the structures of balances of payments of the United States, the European Monetary Union and the Czech Republic.
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Investment Analysis of CEZ, Inc.
Malynych, Tetyana ; Musílek, Petr (advisor)
The content of this thesis is the investment analysis of shares of CEZ. The theoretical part summarizes the most common methods of fundamental analysis of shares and the emphasis on the awareness of individual factors that affect the stock exchange. The practical part of the company's fundamental analysis is used for determining the intrinsic value of the shares of CEZ. Based on comparance of the intrinsic value with the current market price of the shares at the end thesis provides investment advice.
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Fundamental and technical analysis of the stock ČEZ
Veselková, Eva ; Smrčka, Luboš (advisor) ; Zámečník, Petr (referee)
This graduation theses provides on the basis of an analysis fundamental and technical investment recommendation regarding shares of ČEZ. In determining the internal value of shares are used dividend discount models, profit models and FCFE model. By comparing this value with the current share price is determined whether the stock is profitable investment or not. Technical analysis with utilization graphical methods and technical indicators are able to predict when the market occurs a situation in which an advantageous sale or purchase of share is.
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Testing of investment strategies based on concrete methods of fundamental analysis
Cyrner, Pavel ; Veselá, Jitka (advisor) ; Vorek, Marián (referee)
The first part of this work "Testing of investment strategies based on concrete methods of fundamental analysis" is designed as theoretical introduction into fundamental analysis. There are briefly described and explained the different parts of fundamental analysis with emphasis on analysis at the level of individual firms and related specific methods and models of determining the intrinsic value of shares. In the next section, there are companies presented and characterized, whose shares will make up the sample, which will be used to test various methods and models of fundamental analysis. The last and the most important part of this work is devoted to practical application of methods and models of fundamental analysis on a sample of shares of companies, introduced in the second part. At the end of this section, evaluation of the success of these methods and models is presented.
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