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CF Emails

 


I confess. I send out a lot of emails and I am sure that you don't read some of them. Since they sometimes contain important information as well as clues to my thinking (deranged though it might be), I will try to put all of the emails into this file. They are in chronological order, starting with the earliest one. They are in chronological order, starting with the earliest one. So, scroll down to your desired email and read on, or if the scrolling will take you too long, click on the link below to go the emails, by month.

Date
Email content
1/17/22
Happy new year!. This is the first of many, many emails that you will get for me. You can view that either as a promise or a threat.  I am delighted that you have decided to take the corporate finance class this spring with me and especially so if you are not a finance major and have never worked in finance. I am an evangelist when it comes to the centrality of corporate finance and I will try very hard to convert you to my faith. I also know that some of you may be worried about the class and the tool set that you will bring to it.  I cannot alleviate all your fears now, but here are a few things that you can do to get an early jump:

1. Pre-work for class
a. Get a financial calculator and do not throw away the manual. I know that you feel more comfortable using Excel, but you will need a calculator for your quizzes/exams.
b. The only prior knowledge that I will draw on will be in basic accounting, statistics and present value. If you feel shaky, you may want to check out the online classes that I have on accounting , financing basics and statistics
Accounting class (I am not an accountant, don’t care much for how accountants think about companies and view accounting as a raw material provider.. This class reflects that view): http://people.stern.nyu.edu/adamodar/New_Home_Page/webcastacctg.htm 
Basics of finance (present value, a dash of this and that….): http://people.stern.nyu.edu/adamodar/New_Home_Page/webcastfoundationsonline.htm 
For statistics, all I can offer you for the moment is a primer (though I am working on a mini-class): http://people.stern.nyu.edu/adamodar/New_Home_Page/webcaststatistics.htm 

2. Class Details/Logistics

As things stand now, and this could quickly change, we will meet in Paulson Auditorium, a cavernous amphitheater with all  of the charm of Madison Square Garden on a bad day (which would be any day that the Knicks actually play there) every Monday and Wednesday, starting on January 31, going through May 9, from 10.30 am to 11.50 am. I will not take attendance, but I would really, really, really like to see you in class. I do know that some of you are appehensive about showing up in person, and I understand.  The sessions will be live zoomed and recorded and will be available in three places:
3. On Brightspace (NYU’s new learning platform): Link to come
You can find out all you need to know about the class (for the moment) by going to the web page for the class:
This page has everything connected to the class, including webcast links, lecture notes and project links. The syllabus has been updated:
 If you click on the calendar link, you will be taken to a Google calendar of everything related to this class. 

https://calendar.google.com/calendar/u/0?cid=Y19zZmtnaGp tdjd0NmNzNzUycnRpZTA2NjRlY0Bncm91cC5jYWxlbmRhci5nb 29nbGUuY29t 

You will note references to a project which will be consuming your lives for the next four months. This project will essentially require you to do a full corporate financial analysis of a company. While there is nothing you need to do at the moment for the project, you can start thinking about a company you would like to analyze and a group that you want to be part of.  

3. Class Material
Now for the material for the class. The lecture notes for the class are available as a pdf file that you can download and print. I have both a standard version (one slide per page) and an environmentally friendly version (two slides per page) to download. You can also save paper entirely and download the file to your iPad or Kindle. The first packed can be found at the link below
There is a book for the class, Applied Corporate Finance, but please make sure that you get the fourth edition. It is exorbitantly over priced but you can buy, rent or download it at Amazon.com or the NYU bookstore
While I have no qualms about wasting your money, I know that some of you are budget constrained (a nice way of saying "poor") . If you really, really cannot afford the book, you should be able to live without it. 

4. Final Thoughts
I know that the last few years have led you to question the reach of finance (and your own career paths) and COVID’s disparate effects on individuals and businesses has probably made you doubt yourself even more. I must confess that I have gone through my own share of soul searching, trying to make sense of what is going on. I will try to incorporate what I think the lessons learned, unlearned and relearned over this period are for corporate finance. There are assumptions that we have made for decades that need to be challenged and foundations that have to be reinforced. In other words, the time for cookbook and me-too finance (which is what too many firms, investment banks and consultants have indulged in) is over.  To close, I will leave you with a YouTube video that introduces you (in about 2 minutes) to the class. 
I hope you enjoy it.  That is about it. I am looking forward to this class. It has always been my favorite class to teach (though I love teaching valuation) and I have a singular objective. I would like to make it the best class you have ever taken, period. I know that this is going to be tough to pull off but I will really try. I hope to see you on January 31st, in class. Until next time!
1/24/22
I hope that you have had a good week since my last email, and if your response is what last email, you may want to check this link:
Next week, at the first class, I will spend time laying out what the class is about, what I hope that we will accomplish during the semester, as well as establish the key themes that underlie corporate finance. You can download the syllabus ahead of time:
As you read the syllabus, you will notice mention of a project and in case you are curious, here is the link to the project resources:
Once we are through the syllabus in the first session, we will turn our attention to the lecture note packets, and every slide you see in class after this will be in that packet. The lecture notes are in two parts, and the first part can be obtained at this link (which I sent you last week as well):
It is also available in powerpoint form (though the file size is bloated), if you go to the lecture note page or webcast page of the class..

Now that I have drowned you in stuff, just a little aside. I don’t much care for academic research and almost everything that I write is for practitioners, and my blog (sounds new age, doesn’t it?) has become the first repository for my writing. I spend the first few weeks of each year, talking about the data that I update on my website:
The first two updates are on my blog. Please browse through them, because they are relevant for class:

I will see you in class next week (Monday. January 31, at 10.30 m, NY time on in Paulson Auditorium. I know that with COVID a real and present danger, some of you may not be able to make it to class. It will be carried as a live zoom session, and the zoom link for all of the sessions is below: