THE KEY TO UNDERSTANDING COMPANY GROWTH AND DECLINE -FROM THE UNDISPUTED EXPERT ON VALUATION
Throughout his storied career, Aswath Damodaran has searched for the universal key to demystify corporate finance and valuation. Now, at last, he offers the groundbreaking answer to readers everywhere.
It turns out there is a corporate lifecycle very much like our own - with unique stages of growth and decline. And just as we must learn to act our age, so too must companies.
By better understanding how corporations age and the characteristics of each stage of their lifecycle, we can unlock the secrets behind any businesses behavior and optimize our management and investment decisions accordingly.
In Aswath Damodaran's The Corporate Lifecycle, readers will learn-
- What markers tell where a company falls on its corporate lifecycle, and crucial insights for managers as they navigate the different stages
- Why the shape and timing of life cycles varies across different industries
- When transition points pose special challenges to companies-and strategies to conquer them
- How differences in investment philosophies, in particular the divide between growth and value investing, should lead investors towards companies at different lifecycle stages
As the corporate lifecycle touches virtually every aspect of business, this book is for anyone with skin in the corporate finance game-from managers to investors, from novices to seasoned pros. Aswath Damodaran's The Corporate Lifecycle is the definitive guide to understanding businesses growth, behavior, and value.
In The Little Book of Valuation: How to Value a Company, Pick a Stock, and Profit, professor and economist Aswath Damodaran guides listeners through the fundamentals and step-by-step process of picking winning companies to invest in. In the book, you'll learn how to make your own accurate valuation assessments, avoiding common pitfalls and mistakes along the way.
From widespread misunderstandings to undeniable truths in valuation, the author covers exactly where to turn your attention to when assessing a company's value based on a myriad of factors, with stories and real examples included throughout to prepare you for any modern investing challenge you may find yourself facing. You'll also learn simple but extremely effective valuation tools and formulas for success; the complex relationship between assets, debt, equity, and business value; and special market considerations regarding valuation that require a dynamic approach.
Rather than relying on third-party sources-often drawing from the same public information that you have access to, but getting it wrong-The Little Book of Valuation, Updated Edition gives listeners all the insight and practical tools they need to cut through the noise and arrive at their own accurate valuations, pick profitable stocks, and establish successful long-term portfolios.
An accessible, and intuitive, guide to stock valuation
Valuation is at the heart of any investment decision, whether that decision is to buy, sell, or hold. In The Little Book of Valuation, expert Aswath Damodaran explains the techniques in language that any investor can understand, so you can make better investment decisions when reviewing stock research reports and engaging in independent efforts to value and pick stocks.
In this book Damodaran distills the fundamentals of valuation, without glossing over or ignoring key concepts, and develops models that you can easily understand and use. Along the way, he covers various valuation approaches from intrinsic or discounted cash flow valuation and multiples or relative valuation to some elements of real option valuation.
Written with the individual investor in mind, this reliable guide will not only help you value a company quickly, but will also help you make sense of valuations done by others or found in comprehensive equity research reports.
