Call Number: Pomerantz Business Library HG4028.V3 D352 2001
Publication Date: 2015-12-10
Financial professionals have long faced the challenge of accurately valuing companies that are difficult to value using conventional methodologies. Years ago, this challenge was most keenly felt in the "dot-com" industries, and many professionals fell victim to the "dark side," creating values that were simply unsustainable. Now, amidst today's global financial crisis, the same challenge applies to a far wider spectrum of enterprises and assets, ranging from Asian equities to mortgage-backed securities, financial services firms like Lehman to real estate firms like Sears. In The Dark Side of Valuation, the world's top expert on valuation brings together today's best practices for accurately valuing young, distressed, and complex businesses. Aswath Damodaran has thoroughly revised this book, broadening its perspective to consider all companies that resist easy valuation. He covers the entire corporate lifecycle, from "idea" and "nascent growth" companies to those in decline and distress; and offers specific guidance for valuing infrastructure, real estate, technology, human capital, commodity, and cyclical firms. Damodaran places special emphasis on the financial sector, illuminating the implications of today's radically changed credit markets for valuation. Along the way, he addresses valuation questions that have suddenly gained urgency, ranging from "Are US treasuries risk-free?" to "How do you value assets in highly illiquid markets?"
Call Number: Pomerantz Business Library HG4028.V3 D353 1996
Publication Date: 2012-04-17
The definitive source of information on all topics related to investment valuation tools and techniques Valuation is at the heart of any investment decision, whether that decision is buy, sell or hold. But the pricing of many assets has become a more complex task in modern markets, especially after the recent financial crisis. In order to be successful at this endeavor, you must have a firm understanding of the proper valuation techniques. One valuation book stands out as withstanding the test of time among investors and students of financial markets, Aswath Damodaran'sInvestment Valuation. Now completely revised and updated to reflect changing market conditions, this third edition comprehensively introduces investment professionals and students to the range of valuation models available and how to chose the right model for any given asset valuation scenario. This edition includes valuation techniques for a whole host of real options, start-up firms, unconventional assets, distressed companies and private equity, and real estate. All examples have been updated and new material has been added. Fully revised to incorporate valuation lessons learned from the last five years, from the market crisis and emerging markets to new types of equity investments Includes valuation practices across the life cycle of companies and emphasizes value enhancement measures, such as EVA and CFROI Contains a new chapter on probabilistic valuation techniques such as decision trees and Monte Carlo Simulation Author Aswath Damodaran is regarded as one of the best educators and thinkers on the topic of investment valuation This indispensable guide is a must read for anyone wishing to gain a better understanding of investment valuation and its methods. With it, you can take the insights and advice of a recognized authority on the valuation process and immediately put them to work for you.
Call Number: Pomerantz Business Library HG173 .B473 2007
Publication Date: 2007-05-04
“An excellent historical perspective”
An industry legend addresses the development of modern investment theory. Written by today's foremost financial historian, Peter Bernstein, Capital Ideas Evolving recounts the fascinating process by which financial theory has migrated from the ivory towers of academia to the rough-and-tumble world of Wall Street. This book is a follow-up to Bernstein's landmark work, Capital Ideas (1992), which described the breakthrough financial theories of a small group of academics, including Paul Samuelson, Harry Markowitz, Bill Sharpe, Jack Treynor, Eugene Fama, Robert C. Merton, Fischer Black, and Myron Scholes. Their pioneering insights laid the intellectual groundwork for many of the innovations, new products, and strategies that are revolutionizing today's world of finance. Based on personal interviews with leading academics and pioneering investment practitioners, Capital Ideas Evolving demonstrates how these financial theories now shape the underlying structure of portfolio management and market behavior, sparking important innovations such as portable alpha and fresh insights into the risk/return trade-off.Bernstein also confronts the attack on these theories from researchers in behavioral finance and reveals the positive consequences of the interactions between theoretical critics and investment practitioners. As he deftly traverses between financial theory and the turbulent world of Wall Street, Bernstein brings to life the individuals, ideas, and issues that are transforming the financial landscape. Capital Ideas Evolving is both a history of modern investment theory and a history of modern financial innovation.
"This book should cause all investors, both novice and experienced, to step back and consider their strategies and methodologies. These are much more important than finding the next "flavor of the month"
Introduces a wealth allocation framework for individual investors. Considerations imposed by the needs of individual investors; Distribution of wealth in the U.S.; Purposes to be achieved by an investor's portfolio; Dimensions of risk.