Introduction to valuation
Myths
Valuation is objective
A well-researched and well-done valuation is timeless
Provides precise estimate of value
The more quantitative a model, the better the valuation
To make money on valuation, you have to assume that markets are inefficient
The process of valuation is not important
The role of valuation
Valuation and portfolio management
Valuation in acquisition analysis
Valuation in corporate finance
There's always bias when making decisions. However, all the data used is quantitative.
As every other research, results should be used with the consideration of time. Many factors can alter the results.
Theres always uncertainty about the final numbers, we should always keep in mind there's error.
It it not clear how markets would become inefficient , or efficient.
Making a model more complex does not necessarily mean better results
The result is important, but so is the process. Procedures must be done correctly in order to obtain stronger results.
Fundamental Analysts
The effects of synergy on the combined value of the two firms
The effects on value, of changing management and restructuring the target firm, should be taken into consideration
Maximization of firm's value
relationship among financial decisions
corporate strategy
firm value