20161118【充实计划】第284期

充实每一天 发表于 2016-11-18 05:25
【加入充实计划】【了解充实计划】

|了解挑战30天|

昨日阅读一小时，累计阅读27小时

昨天阅读1小时，累计阅读时间138小时。

充实每一天 发表于 2016-11-18 05:25
【加入充实计划】【了解充实计划】

|了解挑战30天|

昨日阅读2小时，累计阅读76小时

昨日阅读2小时，累计12小时，十一天。

昨日阅读2小时，累计阅读9.5小时。

昨日阅读1小时，累计阅读154小时

如何评估老人的身体健康机能？
http://health.sina.com.cn/zl/hc/yszd/2016-11-17/1404440.shtml

Reading 4 hours yesterday totalling 48 hours.

----From Advanced Modeling by Simon

There are 4 ways to calculate Beta in Excel (risk measurement which assumes risk can be measured by the covariance of between specific stock and the whole market). Before the calculation, we could get all the price information online (daily price in the past five years in Yahoo finance), and then we calculate both the daily returns of the index (which approximately to the whole market) and the specific stock. In this book the author assumes the compounding is constant, so he uses Ln(Pt/P(t-1)) , but when I was in MBA, my professor uses normal return rate (P1-P0+D)/P0.

1. Using XY scatter: insert the XY Scatter in the excel (Insert--Scatter) and then click the graph and click add Trendline and then click show the formula and R2

2. Using Covariance function to calculate covariance between specific stock and the index. Then calculate the variance of the index. And then use the covariance divided by the variance.

3. Using Linst function which was coding with VBA. The coding was provided in the book and I attached at the end of this comment.

4. Using add-in in the Excel (data-data analysis-regression) X use the Index data and Y use the specific stock data.

That's from this book. Below is some method used in real work.

This is for stock valuation purpose. In M&A perspective, banker typically uses levered and unlevered Beta to calculate: attached is the link for further study.

http://www.investopedia.com/terms/u/unleveredbeta.asp


Function TwoStageGordon(P0, Div0, Highgrowth, _
Highgrowthyrs, Normalgrowth)
high = 1
low = 0
Do While (high - low) > 0.00001
Estimate = (high + low) / 2
factor = (1 + Highgrowth) / _
(1 + Estimate)
Term1 = Div0 * factor * (1 - factor ∧ _
Highgrowthyrs) / (1 - factor)
Term2 = Div0 * factor ∧ Highgrowthyrs * _
(1 + Normalgrowth) / (Estimate - _
Normalgrowth)
If (Term1 + Term2) > P0 Then
low = (high + low) / 2
Else: high = (high + low) / 2
End If
Loop
TwoStageGordon = (high + low) / 2
End Function

昨天阅读1小时，总共阅读47.5小时

DAY38 : 昨天阅读时间2.5小时，累计阅读时间80小时`