Day One
Session One:
• The Discounted Cash Flow Model
• Setting up the Model
Session Two :
• The Big Picture of DCF Valuation
• Valuation Examples
• The Discount Rate Question
Session Three :
• Open Q&A
Session Four :
• Risk premiums and Betas
• The Cost of Debt
• Estimating Cash Flows
Session Five :
• Estimating Growth Rates
• Estimating Growth Patterns
• The Terminal Value
• Closing Thoughts on DCF valuation
Session Six :
• Open Q&A
• The Discounted Cash Flow Model
• Setting up the Model
Session Two :
• The Big Picture of DCF Valuation
• Valuation Examples
• The Discount Rate Question
Session Three :
• Open Q&A
Session Four :
• Risk premiums and Betas
• The Cost of Debt
• Estimating Cash Flows
Session Five :
• Estimating Growth Rates
• Estimating Growth Patterns
• The Terminal Value
• Closing Thoughts on DCF valuation
Session Six :
• Open Q&A
Day Two
Session Seven :
• Loose Ends in Valuation
-Cash, Cross holdings and other assets
-The Value of Control, Synergy and Transparency
-The Liquidity Discount
-Employee Stock Options
Session Eight :
• The Allure of Relative Valuation
• Categorizing Multiples
• The Four Steps in Analyzing Multiples
Session Nine :
• Open Q&A
Session Ten :
• Applying Multiples in Valuation
• Finding Comparable firms
• Controlling for differences
• Picking the Right Multiple
Session Elven :
• The Real Options Story
• The Option to Delay (and valuing patents and natural resource companies)
• The Option to Abandon
• The Option to Expand
• Equity in Troubled firms as options
Session Twelve :
• Open Q&A
• Loose Ends in Valuation
-Cash, Cross holdings and other assets
-The Value of Control, Synergy and Transparency
-The Liquidity Discount
-Employee Stock Options
Session Eight :
• The Allure of Relative Valuation
• Categorizing Multiples
• The Four Steps in Analyzing Multiples
Session Nine :
• Open Q&A
Session Ten :
• Applying Multiples in Valuation
• Finding Comparable firms
• Controlling for differences
• Picking the Right Multiple
Session Elven :
• The Real Options Story
• The Option to Delay (and valuing patents and natural resource companies)
• The Option to Abandon
• The Option to Expand
• Equity in Troubled firms as options
Session Twelve :
• Open Q&A
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