Here’s what you’ll see:

• “Perception Grows of Bias in U.S. Valuation Experts” (BVR Editor). During a recent webinar out of Canada, a speaker observed that litigants are bringing in valuation experts from the U.S. because of a “creeping tendency toward bias.” In the U.S., some judges are citing studies they say confirm their feelings about bias in some valuation experts.
• “Popular Real Estate DLOC Database Is Not Going Away” (BVR Editor). Valuation analysts who use the Partnership Profiles real estate database for estimating a discount for lack of control for family limited partnerships have expressed concern about the future of the database. This is a letter from Bruce Johnson with some important news about the database and some recommendations for adjusting methodology.
• “Key Points From Hitchner’s Annual BV Update” (BVR Editor). A recap of Jim Hitchner’s look at the major issues in BV over the past year, including long-term growth rates, the three-stage DCF, normalizing the risk-free rate, cost of capital, plagiarism, lack of liquidity on a 100% interest, and more.
• “What to Glean From the IRS Hiring Binge for BV Experts” (BVR Editor). The IRS needs to hire 31 business valuation experts, and the job announcement provides an interesting perspective as to the valuation issues that are on the agency’s radar.
• “Mercer Extols the Virtues of Writing as a Valuation Career Builder” (BVR Editor). Chris Mercer (Mercer Capital) says writing was an important activity that contributed to his success, and he urges practitioners to do the same. He lays out his 12-step plan for a first-time writer (and BVR adds a few comments).
• “The BV Profession’s ‘Silver Tsunami’ Is More Like a Trickle” (BVR Editor). We keep hearing about the “silver tsunami” in the business valuation profession, meaning a huge wave of retirements as veteran practitioners ride off into the sunset. But it’s not happening quite yet, according to data from BVR’s benchmarking survey.

The issue also includes:

• A full section of “BV News and Trends/Global BV News and Trends”;
• Regular features: “Ask the Experts” and “Tip of the Month”;
• BV data spotlight: “DealStats MVIC/EBITDA Trends,” “ktMINE Royalty Rate Data,” “Economic Outlook for the Month,” and the “Cost of Capital Center”; and
• BVLaw Case Update: The latest court cases that involve business valuation issues with one case featured in a detailed analysis.

To stay current on business valuation, check out the April 2024 issue of Business Valuation Update.