At the core of the concept of cost of capital is the pricing of risk. It is still a relative mystery as to how the market prices risk, so estimating the cost of capital remains a major challenge. Fortunately, research continues on this matter to give us a better understanding of this complex topic. This is the focus of the new Cost of Capital Reader, 2017-2018 edition: to give you the most recent discussions and advances in estimating cost of capital. If you check out the Table of Contents, you’ll see the most recent information BVR has from publications such as the Business Valuation Update, Duff & Phelps Update, and more. Did you miss any new research papers or other publications? A bibliography highlights the current thinking and controversies on cost of capital. There’s also a news roundup to make sure you haven’t missed any new developments.