10 Things To Note On Corporate Finance and Business Valuation - Prof Aswath Damodaran

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Tuesday, July 21, 2020 / 05.20AM / Ottoabasi Abasiekong for WebTV / Header Image Credit: Coronation Capital


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The Second edition of the Coronation Capital Masterclass which discussed "Corporate Finance and Business Valuation" with Professor Aswath Damodaran of the New York University Sterns Business School, unlike the first edition was hosted virtually because of the impact of the novel coronavirus on the globe.

 

Giving his opening remarks the Chairman of Coronation Capital Mr Aigboje Aig Imoukhuede said the masterclass was an attestation to the value placed by the investment group on valuations of assets and continuous learning.

 

He described himself as a student of Professor Aswath Damodaran and believed it was a privilege to learn from the scholar.

 

Here are 10 key takeaways from the NYU Finance Professor's  Day 1 lecture of the Second Coronation Capital Masterclass session; 

  • Valuation Is not a Science or Art, but a Craft.
  • Valuing an Asset is not the same as Pricing an Asset
  • A Good Valuation comes with a Story and Numbers
  • All Valuations are biased. The only question is how much and in which direction
  • Fixing Uncertainties in the Area of Policy stability, is key to addressing issues of Valuation.
  • For the Discounted Cash Flow Model, the Choices are between the Equity Valuation and Firm Valuation
  • There is no precise valuations
  • The payoff to Valuation is greatest when  it is least precise
  • One's understanding of a valuation model, is inversely proportional to the number of inputs required for the model.
  • Simpler Valuation models do much better than complex ones.

 

In addition speaking on macro-economic issues he asserted that half of all the Sovereign defaults in the last 50 years globally have been in local currencies.

 

The Session continues again on July 21, 2020. Follow @WebTVng for updates.

 

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