We continued our excursion on the dark side of valuation by first looking at mature companies on the verge of transitions, and how you can use the two values (status quo and changed) to derive a value today. We then moved on to emerging market companies, where concerns about country risk and corporate governance have to incorporated. After a discussion of how valuing banks is now more difficult than historically, we examined how to estimate free cash flows to equity for a bank. If you are interested, my Deutsche Bank Valuation is explained in this post:
Start of the class test: http://www.stern.nyu.edu/~adamodar/pdfiles/eqnotes/tests/dcfvaltests3.pdf
Slides: http://www.stern.nyu.edu/~adamodar/podcasts/valspr19/session15slides.pdf
Post Class Test: http://www.stern.nyu.edu/~adamodar/pdfiles/eqnotes/postclass/session15Btest.pdf
Post Class Test Solution: http://www.stern.nyu.edu/~adamodar/pdfiles/eqnotes/postclass/session15Bsoln.pdf


Views: 45


Please enter your comment!
Please enter your name here