In this session, I described the class a class about valuing or pricing just about any asset or company and laid out five broad themes. First, valuation is neither science nor art. It is a craft that is improved by doing. Second, the principles of valuation are universal and apply across all types of companies and can be done from any perspective. Third, valuing an asset and pricing it are very different tasks. Fourth, a good valuation is a bridge between stories and numbers. Fifth, to act on your valuations you need faith and that faith will be tested.
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