A Day with Aswath Damodaran - The Dark Side of Valuation

Financial professionals have long faced the challenge of accurately valuing companies that are difficult to value using conventional methodologies. Years ago, this challenge was most keenly felt in the dot-com industries, and many professionals fell victim to the dark side, creating values that were simply unsustainable. Now, amidst today's global financial crisis, the same challenge applies to a far wider spectrum of enterprises and assets, ranging from Asian equities to mortgage-back securities and financial services firms.

Aswath Damodaran has thoroughly revised this book, broadening its perspective to consider all companies that resist easy valuation. He covers the entire corporate lifecycle, from idea and nascent growth companies to those in decline and distress, and offers specific guidance for valuing technology, human capital, commodity, and cyclical firms. Aswath places special emplasis on the financial sector, illuminating the implications of today's radically changed credit markets for valuation. Along the way, he addresses valuation questions that have suddenly gained urgency, ranging from Are U.S. treasuries risk free? to How do you value assets in highly illiquid markets?

What's that company or asset really worth? The question is more urgent than ever: We've all discovered the havoc that can be caused by misvaluing assets and companies. But some assets are extremely difficult to price with trditional methods. To accurately value them, start with the techniques and best practices in this book. Renowned valuation expert Aswath Damodaran reviews the core tools of valuation, examines today's most difficult estimation questions and issues, and then systematically addresses the valuation challenges that arise throughout a firm's lifecycle. Next, he turns to specific types of hard-to-value firms, including commodity firms, cyclical companies, financial services firms, organizations dependent on intangible assets, and global firms operating diverse businesses.

No sessions currently available. Contact client services to get the next available date.
CPE CREDITS
7.0
No advance preparation required.
Enlightenment:: The Tools
  • Intrinsic Valuation
  • Probabilistic Valuation: Scenario Analysis, Decision Trees & Simulations
  • Relative Valuation
  • Option Valuation

The Dark Side of Macro Inputs

  • A Shaky Base: A Risky Risk free Rate
  • Risky Ventures: Assessing the Price of Risk
  • Macro Matters: The Real Economy

The Dark Side across the Life Cycle

  • Baby Steps - Valuing young and start-up companies
  • Shooting Stars - Valuing growth companies
  • Not so staid - Valuing mature companies
  • The inevitable end - Valuing companies in distress and decline

The Dark Side across company types

  • Ups and Down: Valuing Cyclical and Commodity companies
  • Mark to Market: Valuing Financial Service companies
  • Invisible Investments: Valuing firms with intangible assets
  • Volatility Rules: Valuing Emerging Market companies
  • The Octopus: Valuing Multi-business, global companies

The Finale

  • Lighting the Way: Vanquishing the Dark Side

Clients who register for this course will receive a complimentary 4-month subscription to FT.com. The Financial Times is the world's most respected financial newspaper, providing a broad assessment on finance, business and the industrial sector. The move to the electronic version follows an ongoing review of our environmental responsibilities as a global business and as part of the Pearson group. FT.com also has features that are not available in hard copy, such as: Special Reports, Alphaville, editor blogs, education sections and much more! Subscriptions will start within 6-8 weeks of the start of class and are limited to one subscription per client. (Please note: as of May 1, 2011, the electronic subscription replaces the hard-copy 3-month Financial Times subscription.)

Lunch is included for all students taking day classes.