NEW! Valuation Concepts: Technical Aspects, Nuances and Exceptions

Dive deep into the complex nuances and details of companies, including private and emerging markets, despite sparse publicly available data. Examine the nuances of calculating enterprise value (when to include capital leases and minority interest). Work through fundamental and DCF valuation nuances (adjustments and clarifications to Gordon growth model) and WACC (proper weights for capital structure). Discuss CAPM and cost of component capital nuances (adjustments to cost of debt and equity and beta) and private company discounts. Learn how to adjust and reconcile recent and severe drops in market multiples vs. M&A deal multiples and how to value holding companies or conglomerates with subsidiaries operating in diverse businesses. Bring challenging questions to class for discussion.

Prerequisite: Corporate Valuation Methodologies on February 25 is strongly recommended.