Dates: June 3 - 5, 2013
Location: NYU Stern, 44 W. 4th Street, New York, NY 10012
Tuition: $4,200 (accommodation not included)
Program Description: There are as many models for valuing stocks and businesses as there are analysts doing valuations. The differences between these models are often emphasized by their users, and the common elements are often ignored. The objective of this program is to provide the fundamentals of the different valuation approaches, an understanding of the limitations of each approach and examples of each of the applications. The program will address discounted cash flow valuation and the estimation issues that arise when information is imprecise or unavailable, value enhancement through the prism of discounted cash flow models, and contrast techniques. It will also delve into other valuation approaches, such as the use of multiples and comparables in relative valuation, and the use of option pricing to value certain types of stocks and businesses.
Who Should Attend: Equity research analysts who are interested in examining alternative valuation approaches, corporate financial officers who want to understand the details of valuation for planned acquisitions or to gain value enhancement strategies for their firms, analysts involved in mergers and acquisitions who seek to acquire a wider repertoire of valuation skills, and portfolio managers who are interested in the effects of corporate restructuring on firm value, and the implications for portfolio management.
Program Benefits: During this program participants will:
- Utilize discounted cash flow models to value any type of firm in any market
- Valuea firm using multiples and comparable firms
- Analyze and critique the use of multiples in valuation
- Develop the tools to value "problem" firms, such as financially troubled firms and start-up firms
- Estimate the effect restructuring a firm has on value
This course is eligible for Continuing Professional Education Credits (CPE). Please contact the NYU Stern Executive Education office for more information.
PRMIA is a proud partner of this training course. As a participant in the CFA Institute Approved-Provider Program, PRMIA has determined that this program qualifies for 18 credit hours. If you are a CFA Institute member, CE credit for your participation in this program will be automatically recorded in your CE Diary upon the report of your CFA member number to firstname.lastname@example.org
Faculty: Aswath Damodaran, Professor of Finance.