Education
& Events

CFA Istanbul – Cross-capital Alpha: As Much As Ever, Necessary To Navigate 2020’s Markets

By Professor Joel Litman

President and CEO of Valens Research and Chief Investment Strategist of Altimetry

Date

Thursday, 23rd July 2020

Schedule

(In TRT)

12:15 pm to 1:30 pm

This groundbreaking cross-capital credit-and-equity program will be presented in Istanbul Turkey, having received tremendous reviews from CFA Societies in New York, London, Singapore, Hong Kong, and around the world.

From Ben Graham through to today, great equity investors pay attention to credit markets in ways that most money managers don’t.

Without solid credit analysis, equity investors are blindsided by unexpected bear markets. They’re also left with cash at the table when equity markets skyrocket like they did in 2019 and even in the second quarter of 2020. 

What great investors know, that most investors don’t, is the importance of conducting reliable credit analysis. 

And any investor that relies on the traditional credit analysis of the big three credit agencies or Wall Street research analysts is likely to find themselves left in the dust again.

For the equity investor, how credit research needs to be conducted is as important as when and why. In this seminar, we delve into answering all those questions.

Today, 220 of the world’s largest investment managers are readers of Professor Litman and his team’s research. Litman has worked closely with and advised some of the world’s biggest and best-performing investment firms—particularly in the area of cross-capital analysis. 

Point of Focus One: The credit signals that signal impending bust and boom in the equity markets.

Point of Focus Two: How those signals need to be built to provide the right signals at the right time for macroeconomic AND specific security analysis.

Point of Focus Three: How traditional credit research—in particular the widespread use of EBITDA—is so often dead wrong. 

Point of Focus Four: How US GAAP and IFRS accounting standards are wholly unreliable, directionally and materially, and what great investors do to correct them. (By the way, IFRS is ESPECIALLY problematic.) 

Among other key takeaways, this seminar shows how great investment houses rip apart the financial statements to produce better analytics, better credit research, and superior credit and equity investing because of it.

Please join us as Professor Litman shares real world, live examples of how solid corporate credit research has driven amazing equity investment opportunities, both long and short. 

Register for this Program