Fallen angel and Fundamental analysis: Difference between pages

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1. ''Credit rating''.
1.  


An issuer of a bond that was formerly investment-grade, that has now fallen to non-investment grade.
The valuation of businesses based on their 'fundamental' value drivers, such as the quality of their management.




2.
2.  
 
An issuer of a share whose price has fallen very sharply from earlier high levels.
 
 
<span style="color:#4B0082">'''''Energis turnaround'''''</span>
 
:"I followed the turnaround path to Energis, a fallen angel telco, where I had my first line responsibility for treasury."
 
:''Adam Richford FCA FCT, Group Treasurer, Renewi, The Treasurer, August 2018, p17.''
 


The prediction of changes in market rates and prices by reference to general economic conditions and to fundamental value drivers, rather than by reference to the historical market price series.




== See also ==
== See also ==
* [[Credit rating]]
* [[Bubble]]
* [[Junk]]
* [[Crash]]
* [[Investment grade]]
* [[Dislocation]]
* [[Non-investment grade]]
* [[Economic value]]
* [[Telco]]
* [[Intrinsic value]]
* [[Technical analysis]]
* [[Value driver]]
* [[Value investment]]


[[Category:The_business_context]]
[[Category:Identify_and_assess_risks]]
[[Category:Identify_and_assess_risks]]
[[Category:Manage_risks]]
[[Category:Financial_products_and_markets]]

Revision as of 14:24, 2 June 2021

1.

The valuation of businesses based on their 'fundamental' value drivers, such as the quality of their management.


2.

The prediction of changes in market rates and prices by reference to general economic conditions and to fundamental value drivers, rather than by reference to the historical market price series.


See also