In the last issue, we included some takeaways from some of the sessions we attended at the annual conference of the National Association of Certified Valuators and Analysts (NACVA) in Las Vegas. Here are a few more:
- Some valuation experts will not get involved with calculation engagements, but we saw no evidence of that stance here. A number of presenters and audience members felt that calculation reports “have their place” and gave several examples of how they use them in their practice.
- If you are involved in a lost profits engagement on the plaintiff side, make sure you include any intervening causes in your analysis, or the opposition will strongly challenge you on it.
- The median age of BV practitioners is in the mid-50s, opening the door for Gen Xers and millennials.
- The days of the BV generalist are over.
- An attorney tells the BV audience: “Don’t assume we’re as smart as you think we are. Keep it simple.”
- When testifying as an expert witness, there’s a big difference between saying “I don’t know” and “I don’t remember.”
- When estimating damages, use different discount rates for projected losses with different risk factors.
For more coverage, see the August issue of Business Valuation Update.
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