As many analysts are aware, the U.S. Supreme Court’s decision in Daubert v. Merrell Dow Pharmaceuticals (1993) set the current standard for admitting expert testimony pursuant to the “relevance and reliability” requirements of the Federal Rules of Evidence. A new article in the next Business Valuation Update™ (December 2007) takes the four Daubert criteria—testing, peer review and publication, error rate, and acceptance—and applies them to both the traditional (qualitative) models for calculating company-specific risk (CSR) and the new Butler-Pinkerton Model for quantifying CSR.
The article got us to wondering: How many analysts and BV experts have read Daubert lately? It’s not that long—just about fourteen pages, including footnotes—and it’s just one of over 2600 essential BV cases currently available to subscribers of BVLaw™. For a copy of the full-text of the Daubert opinion, click here.
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