My valuation journey: have faith, you must! Part 3, 22nd November 2018

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My valuation journey: have faith, you must! Part 3, 22nd November 2018

ICAEW were proud to host Professor Aswath Damodaran on 9th March at Chartered Accountants Hall. Professor Damodaran, often hailed as the Guru of Valuations, presented his unique views on a variety of technical and practical aspects of valuation, emphasising the bridge between stories and numbers. The presentation discussed risk-free rates, equity risk premia, and the differences between arithmetic and geometric averages. It outlined a five-step process: learn the business; test narratives for possible, plausible, and probable; convert the story to numbers; derive value; and seek critical feedback. The session illustrated these concepts with case studies from Uber, Ferrari, and Shell, as well as cautionary examples such as Theranos. Additionally, it explained network effects, market sizing, margins, reinvestment, cost of capital, survival risk adjustments, and the importance of updating valuations as stories change. (AI generated description)

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title: My valuation journey: have faith, you must! Part 3, 22nd November 2018

creator: Aswath Damodaran

description: ICAEW were proud to host Professor Aswath Damodaran on 9th March at Chartered Accountants Hall. Professor Damodaran, often hailed as the Guru of Valuations, presented his unique views on a variety of technical and practical aspects of valuation, emphasising the bridge between stories and numbers. The presentation discussed risk-free rates, equity risk premia, and the differences between arithmetic and geometric averages. It outlined a five-step process: learn the business; test narratives for possible, plausible, and probable; convert the story to numbers; derive value; and seek critical feedback. The session illustrated these concepts with case studies from Uber, Ferrari, and Shell, as well as cautionary examples such as Theranos. Additionally, it explained network effects, market sizing, margins, reinvestment, cost of capital, survival risk adjustments, and the importance of updating valuations as stories change. (AI generated description)

publisher: ICAEW

date: 2018-11-22

type: Moving Image

format: mp4

identifier: StreamAMG/0_lia2k3b4

language: en

subject: Business management and strategy

subject: Business growth

subject: Information technology

subject: Extractive industries

subject: Business sectors

subject: Entertainment sport and media

subject: Sports sector

subject: Economics

subject: Pricing

subject: Business operations

contributor: ICAEW

ICAEW Metadata

Content Type: Video

Notes: MEP CM

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