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The True Values of Equity Investments

Date: March 5, 2019

The Value Investing Certificate of the University of Luxembourg Competence Centre is an evening course on Value Investing, an investment philosophy based on fundamental analysis of investment opportunities.

The emphasis of the course will be on learning how to estimate the true values of equity investments, compare these with market prices, and make intelligent and rational investment decisions.

What is Value Investing?

Value investing was developed in the 1920s by finance professors Benjamin Graham and David Dodd, who in their seminal work “Security Analysis”, taught us how to estimate a stock’s intrinsic value from its underlying assets and earnings power. They showed that intrinsic values can deviate substantially from prices quoted by the some-times sulky, sometimes exuberant Mr.Market, thus providing profitable investment opportunities.

Value Investors discard past returns, and in their fundamental analysis put relatively more weight on existing assets and cashflows, than on growth prospects.
The Value School has many distinguished alumni including Warren Buffett, Walter Schloss, Peter Lynch, and Seth Klarman, to name but a few.

Who is it for?

The course itself does not require any prior knowledge or experience and is open to anyone with a keen interest in investing. So, if you want to learn more about financial markets and how to evaluate investment opportunitites, you are welcome to join.

The main target group revolves around financial advisors and/or professionals in the financial services industry as well as individual investors and portfolio managers. But also managers and entrepreneurs will be able to benefit from the analytical methodology and insides into value creation, growth and profitability.

Objectives

After course, you will
  • master the Value Investing approach, and understand why this strategy has earned above average returns over the last century.
  • be able to find the Enterprise Value, the market price at which a business is trading, as the sum of all net financial claims on a business.
  • be able to assess intrinsic value from careful analysis of a firm’s assets, earnings power, and competitive environment.
  • understand the difference between Going Concern value and growth opportunities, and understand why value investors shun growth stocks.
  • increase your understanding of risk, liquidity, growth, and the (in)efficiency of financial markets.
  • be less dependent on financial advisors and market commentators, and be able to confidently and independently assess investments.
  • be able to methodologically gather and process publicly available information to screen, analyse and select investment opportunities.
Faculty Members
Jos van Bommel: Value Investing Certificate - University of Luxembourg Competence Centre Jos van Bommel, MSc, MBA, PhD, CFA - Academic Director (University of Luxembourg)

Thomas Kaspereit: Value Investing Certificate - University of Luxembourg Competence Centre Thomas Kaspereit, MA, PhD - Financial Statement Analysis (University of Luxembourg)

Léon Kirch: Value Investing Certificate - University of Luxembourg Competence Centre Léon Kirch, MSc, CFA, Value Style portfolio Manager
Practical details
  • The course is organized in 6 evening classes from 6.30 pm to 9.30 pm.
  • Classes take place at the Limpertsberg Campus of the University of Luxembourg (free parking available).
  • Methodology includes lectures, case studies and panel discussions. You will be provided with tools and homework assignements will also be on the agenda.
  • Price: 690 €
Early birds will get a 100 € discount! So, register before December 22nd 2018 and pay only 590 € for a training programme whose value is way higher.
Registration
To register, please send an e-mail to

value@uni.lu

What are you waiting for? Register NOW ... and unleash your full potential @competence.lu


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