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From family roots to global rivals - a fundamental analysis of Puma
| Nome: | Descrição: | Tamanho: | Formato: | |
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| 5.66 MB | Adobe PDF |
Orientador(es)
Resumo(s)
This thesis explores a pairs-trading strategy involving Adidas and Puma, using fundamental
analysis to identify value disparities. Through discounted cash flow valuation, intrinsic values
for each stock were estimated, accounting for factors such as inflation and market trends.
Results indicate Adidas as a candidate for a short position and Puma for a long position,
leveraging their differences in growth potential. Multiples analysis supports this conclusion.
Risk management suggests that the strategy effectively hedges market risks, though it exhibits
strong sensitivity to company size. While promising, these results should be interpreted
cautiously due to reliance on historical data and underlying assumptions.
Descrição
Palavras-chave
Fundamental analysis Valuation Sportswear industry Puma Adidas Pairs trade Trading strategy