* STOCKPAR
0
0  STOCKPAR computes a risk-adjusted, discounted cash flow valuation for
0  "common stock" (share) securities.
0
0  To get started, select "Stock" when you return to STOCKPAR's main menu
0  from this tutorial.  You will be prompted for a stock file name.  The
0  default file is "STOCKS.STD".  Hit "Enter" to load.  The first file
0  record will be displayed with available command keys at the top of the
0  screen.
0
0  Try the keys.  The "Page" and "Ctl+Page" keys move you forward and back-
0  ward through the stock records in the file.  The "Ins" and "Del" keys
0  allow you to insert or delete a stock record.  "Alt" commands are executed
0  by depressing the "Alt" key and then striking the key corresponding to the
0  capital letter in the command.  The Alt+H (Help) command will provide
0  further help information.  The "Esc" key always returns you to the
0  previous screen.
0
* STOCKPAR Data input fields
2
2  Comp & Symbol - Company name and ticker symbol.
2  Hist. Beta    - Stock historical Beta (from Value Line, S&P's etc.)
2  Adj. Factor   - Manual input or computed by STOCKPAR using Alt+C.
2  R-Free DR     - Risk free discount rate.  Typically 90 day T-bill rate.
2  Market DR     - Market discount rate.  Typically 1.5 x Risk-Free Rate.
2  R-Adj'd DR    - Risk adjusted discount rate.  Computed by STOCKPAR
2                  but may be manually overriden.
2  Date Field    - Date of analysis.  Alt+C updates to current date.
2  Year Fields   - 5 historical years, current year, +5 year forecast.
2  Revenues      - Enter all hist. & cur. data, then Alt+C for forecast.
2  Net Profit    - Ditto.
2  Non-Cash Exp. - Ditto.
2  Tot. Net Worth- Enter all available historical and current data.
2  Cash Assets   - Ditto.
2  Cur. Liabs.   - Ditto.
2  Long Term Debt- Ditto.
2  F.A. Adjustor - "Fixed Asset Adjustor".  Deflates over-valued fixed assets.
2  # Shares      - Enter all hist. & cur. data, then Alt+C for forecast.
2  Hi/Lo Price   - For info. Enter as much hist. and cur. data as available.
2
* STOCKPAR Command Keys
2
2  Esc           - Return to main menu.
2  Arws          - Arrows on key pad move edit block.
2  PgUp, PgDn    - Pages backward and forward between records.
2  ^PgUp, ^PgDn  - (^ = Ctl key) Goes to first and last records.
2  Ins, Del      - Insert / Delete records.
2  ^Y            - Ctrl + Y key deletes field contents.
2
2  Alt+F  - "File" save, load & directory functions.
2  Alt+E  - enter the "Edit" mode, to modify data.
2  Alt+P  - "Print" record or send to text file.  Use LPT1, LPT2, and LPT3
2           for printers 1, 2, and 3.  SCRN specifies output to screen. Use
2           any other filename to output to text file.
2  Alt+K  - "seeK".  Searches for stock record.
2  Alt+A  - "Allcalc". Re-calculate all cells.
2  Alt+C  - "Cellcalc". Recomputes highlighted cell.
2  Alt+Q  - retrieve Quote prices from the Price History list.
2
*
2
2 Computed fields are computed by moving the highlighted cell to the field
2 (if possible) using the arrow keys and then striking Alt+C.  Fields
2 which may not be accessed are computed indirectly:
2
2  Adj. Factor - Computed as ratio of current Adj. D/A to average Adj. D/A.
2    Forces computation of Adj. Debt/Asset ratio first.
2
2  Adj'd Beta  - Product of Historical Beta and Adj. Factor.  Computed when-
2    ever Adj. Factor computed.
2
2  R-Adj'd DR  - Computed from Adj'd Beta, R-Free D.R., and Market D.R.
2
2  F/C Revenue - Computed using linear regression from historical and current
2    data.  Forces computation of cash flow/share, forecast net profit and
2    forecast non-cash expenses.
2
2  Par Prices  - Computed from discounted cash flow.  The high and low price
2    bound the DCF price by one standard deviation.  For meaningful results,
2    Par Prices should be computed only after data entry is complete and
2    other values computed.
2
* STOCKPAR Default Settings
3
3  Risk Free Beta - Beta of the risk free security.  Is used to compute the
3    risk-adjusted discount rate.  A value of zero is recommended.
3
3  Risk-Free Discount Rate - The current 90-day T-bill rate is preferred.
3
3  Market Discount Rate - A rate 2.0 x the risk-free rate is suggested.
3
3  Max. Receivables & Inventory - Used to compute adjusted debt/asset ratio.
3    Value may depend upon industry, but in general 3 months is recommended.
3
3  Fixed Asset Adjustor - Default of 1.0 recommended.
3
3  Debt/Asset Sensitivity - Determines response of Beta Adjustment Factor to
3    deteriorating/improving debt asset ratio.  Default of 1.0 recommended.
3
3  Base Year - Default first historical year.
3
3  Time Horizon - Number of years included in DCF calculation.
3
* CAPTOOL Configurations
3
3  CAPTOOL configurations apply across all CAPTOOL modules.
3
3   Work File Path - Specifies disk drive/directory to be used for temporary
3                    storage/retrieval of records when DOS base RAM memory is
3                    full.  Fastest operation is achieved with RAM disk.
3   System Sound   - Enables/Disables prompt "beep".
3   Mono HiVideo   - Sets "Hi" & "Reverse" video for monochrome displays.
3   Block Cursor   - Enables Block cursor for LCD displays.
3   File Backup    - Enables/Disables creation of "$" backup files.
3   Decimal Type   - Either "." or "," decimal notation.
3   Amt Dcmls      - Decimal places (0..4) displayed for "Amount" values.
3   Currency Symb  - Symbol of base currency used in portfolio.
3   Date Format    - Date display format (Mo/Dy/Yr, Dy-Mo-Yr, Yr.Mo.Dy)
3                    (do not change century base year!)
*