Investment Valuation : Tools and Techniques for Determining the Value of Any Asset
* Fully revised to incorporate valuation lessons learned from the last five years, from the market crisis and emerging markets to new types of equity investments * Includes valuation practices across the life cycle of companies and emphasizes value enhancement measures, such as EVA and CFROI * Contains a new chapter on probabilistic valuation techniques such as decision trees and Monte Carlo Simulation * Author Aswath Damodaran is regarded as one of the best educators and thinkers on the topic of investment valuation This indispensable guide is a must read for anyone wishing to gain a better understanding of investment valuation and its methods. With it, you can take the insights and advice of a recognized authority on the valuation process and immediately put them to work for you.
- Hardback | 992 pages
- 185 x 260 x 40mm | 1,776g
- 26 Apr 2012
- John Wiley & Sons Inc
- New York, United States
- 3rd Edition
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Now, in the Third Edition of Investment Valuation, New York University Stern Business School Professor Aswath Damodaran--one of the nation's top business school professors--returns with a fully updated edition of his classic text.
While written to reflect current market conditions, this reliable resource also stays true to previous editions with coverage of a wide range of tools and techniques, both new and old, for determining the value of any asset, including the valuation of stocks, bonds, options, futures, real assets, and much more.
Using updated examples and the most current valuation tools, this Third Edition addresses a variety of new issues that pose complex valuation problems. Page by page, Damodaran guides you through the theory and application of different valuation models and clarifies the entire process from cash flow valuation and relative valuation to acquisition valuation.
Engaging and accessible, this revised Third Edition of Investment Valuation
Explores important valuation lessons gleaned from the recent market crisis and provides valuable insights on financial fundamentals--such as risk-free rates, risk premiums, and cash flow estimation--that came to light during this time Offers an increased focus on emerging market companies, which have come to the forefront with the growth of Asia and Latin America Includes valuation practices across the life cycle of companies and emphasizes value enhancement measures such as economic value-added (EVA) and cash flow return on investment (CFROI) Contains a new chapter on probabilistic valuation techniques that includes scenario analysis, decision trees, and simulations Discusses how to choose the right valuation model for any given asset valuation scenario And much more
Investment Valuation, Third Edition thoroughly explains the valuation process from the ground up and offers you some of the most flexible approaches to valuing assets. Now you can easily access a significant number of datasets and spreadsheets associated with this book online at damodaran.com. In fact, the valuations will constantly be updated online, so you can have a closer link to real-time valuations.
Filled with detailed case studies and proven valuation models, this indispensable guide is a must-read for anyone wishing to gain a better understanding of investment valuation and its methods. With it, you can take the insights and advice of a recognized authority on the valuation process and immediately put them to work for you.
Back cover copy
Now completely revised to reflect today's dynamic market conditions, this Third Edition comprehensively introduces investment professionals and students to the wide range of valuation models currently available and reveals how to choose the right model for any given asset valuation scenario. It also skillfully outlines essential valuation tools and techniques for determining the value of any asset--including the valuation of stocks, bonds, options, futures, and real assets--and contains refreshed examples and updated case studies.
With this reliable resource as your guide, you'll gain important insights on:
The valuation lessons learned from the recent market crisis
Valuing emerging market companies
Probabilistic approaches in valuation, such as scenario analysis, decision trees, and simulations
Using real option theory and option pricing models in valuing business and equity
Applying valuation techniques to everything from start-up and financial services firms to real estate and unconventional assets
And much more
A perfect guide for those who need to know more about the tricky business of valuation, Investment Valuation, Third Edition will be an essential asset to anyone learning about this critical part of the investment process.
Table of contents
About Aswath Damodaran