Dark Side of Valuation, The
by Aswath Damodaran
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 in The Dark Side of Valuation: Valuing Young, Distressed and Complex Businesses. In this thoroughly revised edition, the author looks at how best to deal with low interest rates, volatile equity risk premiums and political risk in valuation. Readers will gain insight into:
- Overcoming the temptation to use unrealistic or simplistic valuation methods
- Risk-free rates, risk premiums and other macroeconomic assumptions
- Intelligent analysis for angel and early venture capital investing
- Projecting the impact of regulatory changes
- The stages of the corporate lifecycle
- Valuing financial services and commodities companies
Paperback
English
Brand New
Author Biography
Aswath Damodaran is Professor of Finance at the Stern School of Business at New York University. He teaches the corporate finance and equity valuation courses in the MBA program. He received his MBA and PhD from the University of California at Los Angeles. He has written several books on corporate finance, valuation, and portfolio management. He has been at NYU since 1986 and has received the Stern School of Business Excellence in Teaching Award (awarded by the graduating class) eight times. He was profiled in BusinessWeek as one of the top twelve business school professors in the United States in 1994 and was chosen the most popular business school professor in 2012.
Table of Contents
Feature
Learn how to Deal with "abnormally low" and negative risk-free rates in valuation Adapt to dynamic and changing risk premiums Value young companies that are disrupting existing businesses Analyze commodity and cyclical companies across cycles Value a company as the sum of its parts or as an aggregation of its users/subscribers and customers Determine the difference between pricing and valuation, and why some investments can only be priced
New Feature
1. Updated or new examples in every chapter 2. Two new chapters, one on valuing idea/concept companies at the start of the life cycle section and one on valuing unusual businesses in the last section. 3. Discussions of how to deal with negative or very low interest rates and frontier market valuations. 4. Online support with YouTube videos, blog posts and additional material for the book.
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