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COE Estimates From Leading Data Sets Are All ‘Very Close’

Jim Hitchner conducted a hypothetical engagement using Kroll’s Navigator, BVR’s Cost of Capital Professional, the Pepperdine study, and Damodaran’s data to estimate cost of equity (COE).

BV News and Trends November 2022

A monthly roundup of key developments of interest to business valuation experts.

Hitchner v. Damodaran on Inputs to the Cost of Capital

Jim Hitchner (Valuation Products and Services) responds to some severe criticisms Aswath Damodaran (New York University Stern School of Business) made during a BVR webinar about certain inputs to the cost of capital. Hitchner also offers some best practices and a handy tool to use as a reasonableness check on your cost of capital estimate.

BV News and Trends September 2022

A monthly roundup of key developments of interest to business valuation experts.

Nath comments on Hitchner v. Damodaran

The author of a number of seminal articles on control premiums, minority interest valuation issues, and cost of capital, Eric Nath (Eric Nath & Associates) comments on a recent article in Business Valuation Update.

Damodaran on How Inflation Plays Out in Company Valuations

Professor Aswath Damodaran (New York University Stern School of Business) presents a simple framework for assessing the impacts of inflation on the value of a private company. He also made some explosive remarks about certain inputs to the cost of capital.

BV News and Trends August 2022

A monthly roundup of key developments of interest to business valuation experts.

Hitchner rebuts Damodaran’s attacks on cost of capital inputs

Just keep on doing what you’re doing with cost of capital, advises Jim Hitchner (Valuation Products and Services), despite what academics say.

Hitchner responds to Damodaran’s criticisms of cost of capital inputs

BVWire will attend a webinar tomorrow (July 21) by Jim Hitchner (Valuation Products and Services) who will respond to some severe criticisms Aswath Damodaran (New York University Stern School of Business) made during a recent BVR webinar.

Butler comments on Damodaran’s ‘dynamite’ remarks regarding COE

Last weeks’ issue covered some very choice words (some of which we can’t print here) Aswath Damodaran (New York University Stern School of Business) made about various inputs some analysts use to determine the cost of equity (COE).

Damodaran tosses some dynamite during BVR webinar

Historical equity risk premium? “I don’t like a backward-looking and stagnant premium.”

Comment on COE data sources survey

In last week’s issue, we reported on a survey of the data sources analysts use to estimate the cost of equity (COE) (click here to see the news item).

In Search of a Steady State: Inflation, Interest Rates and Value, The (inflation) Genie Escapes the Bottle!

In this very special complimentary program with BVR, renowned financial guru Aswath Damodaran looks at where inflation expectations stand and where inflation might end up – from the potentially catastrophic to the (mostly) benign. Inflation is the culprit behind markets approaching bipolar territory with their big ups and downs, and it remains a highly unpredictable macroeconomic factor.

Valuation amid inflation: a free interactive webinar with Aswath Damodaran

BVR has a very special event next week—a free one-hour webinar on June 14 titled In Search of a Steady State: Inflation, Interest Rates, and Value—The (Inflation) Genie Escapes the Bottle!

Hitchner surveys COE data sources of choice

The Kroll (formerly Duff & Phelps) Navigator has been the consistent clear choice for cost of equity (COE) data by valuation analysts, according to ongoing surveys by Jim Hitchner (Valuation Products and Services).

More jabs at the proposed billionaire tax

Although it could give a lot of work to appraisers, the proposed billionaire tax is an example of “really bad tax law,” says the dean of valuation, Aswath Damodaran (New York University Stern School of Business).

Damodaran on proposed billionaire tax

“A boon for appraisers and accountants,” but it is one of the worst tax proposals ever, says Aswath Damodaran (New York University Stern School of Business), in an appearance on CNBC.

Should business valuators use ‘implied’ equity risk premiums? Damodaran says yes

The free, 11th annual update to ‘Equity Risk Premiums (ERP): Determinants, Estimation and Implications—The 2019 Edition’ is now available from Professor Aswath Damodaran (New York University Stern School of Business).

Damodaran values Lyft ahead of IPO

Check out the spreadsheet Professor Aswath Damodaran (New York University Stern School of Business) used to value Lyft prior to its IPO this past Friday (March 29).

Damodaran puts high value on narrative

"In a good valuation, the numbers are bound together by a coherent narrative, and storytelling is kept grounded with numbers," says Dr. Aswath Damodaran (Stern School of Business, New York University).

Damodaran updates data-rich cost of capital spreadsheets

Professor Aswath Damodaran (New York University Stern School of Business) has released new data posts and data sets updated for 2017 related to valuation and the cost of capital, including historical stock returns, implied equity risk premiums, country risk premiums, and more.

Brexit's impact on cost of capital

The Brexit vote reinforces the need for internal consistency between the elements of cost of capital and the current economic environment, according to leading global valuation experts and finance professors. Also, there may be a “new normal” in terms of interest rates, risk premiums, and growth.

Consult Damodaran when building WACCs for international companies

Damodaran sees "back-filling" after surprisingly quick ERP rebound

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