July 2009
Intermediate to advanced
600 pages
19h 50m
English
book
The Dark Side of Valuation: Valuing Young, Distressed, and Complex Businesses, Second Edition
by Aswath Damodaran
Content preview from The Dark Side of Valuation: Valuing Young, Distressed, and Complex Businesses, Second Edition
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Reasons for Popularity and Potential Pitfalls
Why is the use of relative valuation so widespread? Why do managers and analysts relate so much better to a value based on a multiple and comparables than to discounted cash flow valuation? This section considers some of the reasons for the popularity of multiples.
It is less time- and resource-intensive than discounted cash flow valuation: Discounted cash flow valuations require substantially more information than relative valuation. For analysts who are faced with time constraints and limited access to information, relative valuation offers a less time-intensive alternative.
It is easier to sell: In many cases, analysts in particular and salespeople in general use valuations to sell stocks to investors ...
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.