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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The Dark Side of Valuation
How do analysts deal with the valuation issues that characterize firms with intangible assets? In many cases, they ignore these issues and trust historical data or management-provided forecasts of the numbers. In some cases, they fall back on the defense that all the firms in a sector should be equally impacted by these accounting rules and that comparisons across the firms therefore should be unaffected.
Exogenous Growth
The biggest problem with treating capital expenses (such as R&D, training, and brand advertising expenses) as operating expenses is that we lose the most potent tool that we have not only for estimating growth but also for checking for internal consistency. The growth rates we use for a firm have ...
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I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
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.