Session 19: Closing the books on Pricing & Asset-based valuation
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In this class, we closed the book on relative valuation by looking at how to pick the "right" multiple for a valuation, with the answers ranging from cynically picking one that best fits your agenda to picking one that reflects what managers in that business care about. It is amazing how widespread relative valuation is. I found this link recently on rules of thumb in valuation. Take a look at it.... especially the multiples mentioned http://www.bizstats.com/reports/valuation-rule-thumb.php And the site below has valuation spreadsheets as well as a valuation blog. http://www.valuecruncher.com/ We then moved on to asset based valuation: liquidation valuation, accounting valuation and sum of the parts valuation, and we will continue with this discussion the next session. Start of the class test: http://www.stern.nyu.edu/~adamodar/pdfiles/eqnotes/tests/relva;3atest.pdf Slides: http://www.stern.nyu.edu/~adamodar/podcasts/valfall16/valsession19.pdf Post class test: http://www.stern.nyu.edu/~adamodar/pdfiles/eqnotes/postclass/session19Btest.pdf Post class test solution: http://www.stern.nyu.edu/~adamodar/pdfiles/eqnotes/postclass/session19Bsoln.pdf
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