Renowned valuation expert Aswath Damodaran reviews the core tools of valuation, examines todayas most difficult estimation questions and issues, and then systematically addresses the valuation challenges that arise throughout a firmas lifecycle in The Dark Side of Valuation: Valuing Young, Distressed and Complex Businesses. In this thoroughly revised edition, he broadens his perspective to consider all companies that resist easy valuation, highlighting 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. He covers the entire corporate lifecycle, from aideaa and anascent growtha companies to those in decline and distress, and offers specific guidance for valuing technology, human capital, commodity, and cyclical firms. Damodaran places special emphasis on the financial sector, illuminating the implications of todayas radically changed credit markets for valuation and addresses valuation questions that have suddenly gained urgency, ranging from aAre U.S. treasuries risk free?a to aHow do you value assets in highly illiquid markets?a Readers will gain insight into: Am Overcoming the temptation to use unrealistic or simplistic valuation methods Am Risk-free rates, risk premiums and other macroeconomic assumptions Am Intelligent analysis for angel and early venture capital investing Am Projecting the impact of regulatory changes Am The stages of the corporate lifecycle Am Valuing financial services and commodities companies Damodaranas insights will be indispensable to everyone involved in valuation: financial professionals, investors, MaA specialists, and entrepreneurs alike.In this thoroughly revised edition, he broadens his perspective to consider all companies that resist easy valuation, highlighting specific types of hard-to-value firms, including commodity firms, cyclical companies, financial services ...
|Title||:||The Dark Side of Valuation|
|Publisher||:||FT Press - 2009-06-19|