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This is a two-day valuation seminar, where I try to compress and deliver the contents of my semester-long valuation class. The details are below.
Pre-seminar work: There is no required pre-reading for the class. If you do want to get a jump on the class, check out this pre-seminar webpage. If you still have time on your hands, plesae visit my blog, where I post my meandering thoughts on valuation.
To follow the seminar: You will see the link to the session in the first column, the contents for the session in the second column, additional files in the third and in-practice webcasts on specific estimation challenges (estimating risk free rates, betas, equity risk premiums) in the last one.
After you finish the seminar: Check out this post-seminar webpage. It contains the excel spreadsheets with all the valuations that we did in class, readings to exhaust you and more fun stuff!!
Project: The best way to understand valuation is by picking a company adn valuing it. You can pick any company, public or private, but if you do pick a private company, please make sure that you can get the financial data you need for your company. You can get a step-by-step description by clicking here.
Lecture Notes/Textbook: The lecture notes for this class can be obtained by clicking here, though the version that you get will be updated and include a few add-ons and changes. (if you want the powerpoint version, click here). If you feel the urge to supplement these notes with a book or books, you have the following choices: Investment Valuation (3rd Edition), Damodaran on Valuation (2nd Edition), The Dark Side of Valuation (2nd Edition), The Little Book of Valuation (2nd Edition) and The Corproate Life Cycle (1st Edition). You can find out more about these books by clicking here.
Session
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Topic
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Additional files
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In-practice webcasts
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Day 1 Morning Session
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Lecture Notes: Pg 1-18 Introduction to valuation Valuation approaches Amgen ,Tata Motors & Enka Country-specific example (varies by country) |
Valuations
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Day 1 Afternoon Session
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Lecture Notes: Pg 19-66 Riskfree Rates Cost of Capital Cash flows & growth rates Terminal Value
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Datasets
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Day 2 Morning Session
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Lecture Notes: Pg 67-127 - Loose ends in valuation * Valuing declining companies |
Datasets
Valuations |
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Day 2 Afternoon Session
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Lecture Notes: Pg 128-End Valuing private businesses |
Datasets |
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