BUFN 758W

This class is a continuation of the concepts developed in Advanced Equity Modeling, and is designed to complete the skillset required to be a senior-associate equity analyst. Students will experience being an equity analyst for a practicing portfolio manager making real-time investment decisions. By building detailed investment thesis around particular stocks, students will learn how to develop and defend the output of their discounted cash flow models. In addition, students will write summaries of proxies linking management’s compensation to this output. The goal is to understand how a compensation structure incentivizes management to achieve a given level of free cash flow. When the investment case is complete it is used in actual portfolio management decisions.