Aswath Damodaran – The Dark Side of Valuation Valuing Old Tech, New Tech, and New Economy Companies

Renowned valuation professional Aswath Damodaran critiques the core instruments of valuation, examines immediately’s most troublesome estimation questions and points, and then systematically addresses the valuation challenges that come up all through a agency’s lifecycle in The Dark Side of Valuation: Valuing Young, Distressed and Complex Businesses.

In this completely revised version, he broadens his perspective to contemplate all corporations that resist simple valuation, highlighting particular varieties of hard-to-value corporations, together with commodity corporations, cyclical corporations, monetary providers corporations, organizations depending on intangible belongings, and world corporations working numerous companies. He covers your complete company lifecycle, from “idea” and “nascent growth” corporations to these in decline and misery, and presents particular steering for valuing know-how, human capital, commodity, and cyclical corporations. Damodaran locations particular emphasis on the monetary sector, illuminating the implications of immediately’s radically modified credit score markets for valuation and addresses valuation questions which have immediately gained urgency, starting from “Are U.S. treasuries risk free?” to “How do you value assets in highly illiquid markets?” Readers will acquire perception into:

• Overcoming the temptation to make use of unrealistic or simplistic valuation strategies
• Risk-free charges, threat premiums and different macroeconomic assumptions
• Intelligent evaluation for angel and early enterprise capital investing
• Projecting the impression of regulatory modifications
• The phases of the company lifecycle
• Valuing monetary providers and commodities corporations

Damodaran’s insights will likely be indispensable to everybody concerned in valuation: monetary professionals, traders, M&A specialists, and entrepreneurs alike.

Editorial Reviews

From the Back Cover

The Definitive Guide to Valuing Hard-to-Value Companies: Now Fully Revised for Today’s Financial Markets

Financial professionals have lengthy confronted the problem of precisely valuing corporations which are troublesome to worth utilizing standard methodologies. Years in the past, this problem was most keenly felt within the “dot-com industries, and many professionals fell sufferer to the “darkish aspect, creating values that had been merely unsustainable. Now, amidst immediately’s world monetary disaster, the identical problem applies to a far wider spectrum of enterprises and belongings, starting from Asian equities to mortgage-backed securities and monetary providers corporations. Aswath Damodaran has completely revised this e book, broadening its perspective to contemplate all corporations that resist simple valuation. He covers your complete company lifecycle, from “concept and “nascent development corporations to these in decline and misery, and presents particular steering for valuing know-how, human capital, commodity, and cyclical corporations. Damodaran locations particular emphasis on the monetary sector, illuminating the implications of immediately’s radically modified credit score markets for valuation. Along the best way, he addresses valuation questions which have immediately gained urgency, starting from “Are U.S. treasuries threat free? to “How do you worth belongings in extremely illiquid markets?

• Vanquishing the “darkish aspect
  Overcoming the temptation to make use of unrealistic or simplistic valuation strategies
• Revisiting the macro inputs that go into valuation
  What you need to learn about risk-free charges, threat premiums, and different macroeconomic assumptions
• Valuing concept and nascent corporations: the primary phases of entrepreneurial valuation
  Intelligent evaluation for angel and early enterprise capital investing
• Special challenges related to valuing monetary providers corporations
  Includes new insights into projecting the impression of regulatory modifications
• Best practices and confirmed options from the world’s #1 professional in valuation, Aswath Damodaran
• Now covers all industries and all phases of the company lifecycle
• Includes intensive new protection of valuing monetary providers and commodities corporations

What’s that firm or asset actually value?The query is extra pressing than ever: We’ve all found the havoc that may be brought on by misvaluing belongings and corporations. But some belongings are extraordinarily troublesome to cost with conventional strategies. To precisely worth them, begin with the strategies and finest practices on this e book.

Renowned valuation professional Aswath Damodaran critiques the core instruments of valuation, examines immediately’s most troublesome estimation questions and points, and then systematically addresses the valuation challenges that come up all through a agency’s lifecycle. Next, he turns to particular varieties of hard-to-value corporations, together with commodity corporations, cyclical corporations, monetary providers corporations, organizations depending on intangible belongings, and world corporations working numerous companies.

Damodaran’s insights will likely be indispensable to everybody concerned in valuation: monetary professionals, traders, M&A specialists, and entrepreneurs alike.