January 8, 2001
Hi!
I hope you are some place where it is warm and sunny... Snow is great until
you have to shovel it...Needless to say, I am looking forward to the equity
class (I really am.. even the emails... and the grading... Well, maybe not the
grading). While you probably have other things on your mind right now, you can
visit the site for the class when you get a chance..
http://www.stern.nyu.edu/~adamodar/New_Home_Page/equity.html
As you will see, this is a class on valuation and I have a feeling that we are
in for some very interesting times in the next few weeks...
There are three lecture note packets for this class and you can get the lecture
notes in the first packet in pdf format on my website:
http://www.stern.nyu.edu/~adamodar/New_Home_Page/eqlect.htm
You can print off the first packet (which is right on the top of the page) -
do not print the other two packets since they will be updated in a few weeks.
As for a text book, there is no required text book but you can buy "The
Dark Side of Valuation" in the book store. Alternatively (and please do
not let my publisher know this),you can download the second edition of my investment
valuation book online. Have a fast modem and a speedy printer. The print version
of the book should be available by the time school starts.
I look forward to seeing you again (if you were in my corporate finance class
last year) and for the first time (if this is your first class with me). See
you in class on January 28....
January 18, 2002
Ola! Only a week left before classes begin.. how the time flies when you are
having fun ( I was... Were you?)... Anyway, I wanted to drop you a note about
the lecture note packets. As my last email indicated (If you registered in the
class in the last week, you can see the last email by going to the Emails at
http://www.stern.nyu.edu/~adamodar/New_Home_Page/equity.html)
you can download and print the pdf file for the first lecture note packet by
going to
http://www.stern.nyu.edu/~adamodar/New_Home_Page/eqlect.htm
You can either print off one slide per page or two but please do it at home.
You cannot use the school's printers to do this since it does create a bottleneck
in the computer center. Do not print off packets 2 and 3 yet... they will be
updated in the next few weeks.
An alternative (albeit a more expensive one) is to buy the lecture note packet
in the bookstore. I have been told that they will be available by the end of
the next week.... I will keep you posted.
See you in class in about a week. I am really looking forward to it and I hope
you are too....
January 25, 2002
Hi!
One more email before class on Monday. You are probably sick of hearing this
but the lecture note packet 1 is available at the bookstore. If you want to
print off the lecture notes yourself, go to
http://www.stern.nyu.edu/~adamodar/New_Home_Page/eqlect.htm
and print off packet 1 (at the very top of the page). I will let you know as
soon as packets 2 and 3 are ready to be printed off.
Now, here is the good news (or bad news).... The second edition of Investment
Valuation, which is the most relevant book for this class, has just been printed.
The bookstore has ordered 75 copies for next week and Amazon has started carrying
it. (The university edition which is paperback seems to be in stock but the
hard covers have not made it in yet... the latter is cheaper by $ 16.. go figure..
) Again, if you are short of funds, you can print off the chapters of the book
right from my site, but it will be a pain for you to organize 1300 pages of
printed material...
Until Monday....
January 28, 2002
Hi!
Why wait? Let me start nagging you right away. Reviewing some the discussion
from this morning,
1. Please let me know if you are not in a group by Wednesday.... You will be
put in the pitiful orphan group but that might garner some sympathy.
2. If you are in a group, great... Start thinking about a company you might
want to value (Even if you are not in a group, start thinking about a company
that you would like to value). You can value a foreign company (even one with
an ADR on it) but do the valuation in the local currency,.
3. If you have already picked a company (I am impressed...), you should proceed
to the following steps:
a. Visit www.sec.gov and download the latest 10K for your firm onto your computer.
DO NOT print this off yet. You can get almost everything you need by leaving
it on your computer.
b. Find a Bloomberg and use your seniority as a second year MBA to demand first
dibs.... Then, download the following for your firm:
- DES (first 10 pages)
- FA (Print off the entire description)
- BETA
If you are doing a firm with multiple listings (Nokia, Nestle etc...), finding
your firm is an a process of trial and error. If it is a well known firm, I
might be able to help you. If not, you have to keep trying different listings
until you hit pay dirt (you will find a description that is more than just 2
or 3 pages ...) Find the data in the local market and not for the ADR. If you
have never used a Bloomberg before, you might want to visit my site and check
under
http://www.stern.nyu.edu/~adamodar/New_Home_Page/data.html
At the top of the page you will find a guide to using Bloomberg. (It is a pdf
file and it is about 4.2 MB big)
Finally, for Wednesday's class, please do not forget to bring your lecture note
packet 1.....
January 29, 2002
Talk about the perils of yelling "Sell".....
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Attachment: A Sage on Enron