Book Description
"Aswath Damodaran is simply the best valuation teacher around. If you are interested in the theory or practice of valuation, you should have Damodaran on Valuation on your bookshelf. You can bet that I do."
-- Michael J. Mauboussin, Chief Investment Strategist, Legg Mason Capital Management and author of More Than You Know: Finding Financial Wisdom in Unconventional Places
In order to be a successful CEO, corporate strategist, or analyst, understanding the valuation process is a necessity. The second edition of
Damodaran on Valuation stands out as the most reliable book for answering many of todays critical valuation questions. Completely revised and updated, this edition is the ideal book on valuation for CEOs and corporate strategists. You'll gain an understanding of the vitality of todays valuation models and develop the acumen needed for the most complex and subtle valuation scenarios you will face.
Customer Reviews:
Very good and very useful book.......2007-09-03
Very useful book for every Investment analyst.
Special credits to Amazon for their perfect shipping - 10 days from order to delivery in BG with standard shipping option!!!
The best valuation book there is.......2007-05-19
This book is for individuals that are serious about valuation. Professor Damodaran provides a clear framework regarding key issues that need to be addressed during company valuation.
This is a must read.
Book Description
A practical and authoritative introduction to the concept of risk unit allocation as an alternative and more effective decision-making process for long-term investors.
*Make an informed decision about how to implement and execute a "risk unit allocation" investment policy
*Analysis of techniques to assess how risk might impact long-term investment returns
*Introduces methods to allocate assets based on the "risk unit" exposures - in individual asset classes and on a portfolio basis, to meet long-term pension obligations and investment return objectives
*Investigates ways to use VAR to accommodate a long-term investment horizon
*Contributions from leading experts drawn from consultancies; large institutional investors; pension plans; investment banks and academia
Customer Reviews:
Novel approach to risk budgeting and asset management.......2001-03-06
The book provides a delightful insight into the intricate world of balancing the trade-off between risk management and higher returns. This book is meant for those either alreday in the industry or those that have a strong interest in the day to day management of large funds. A glimpse of the authors in the book would please any academician -- MIT, Harvards, Stanfords, PhD's, CFA's... The content is varied and at the cutting edge of asset management -- a must read for any interested in an academic, risk managed approach to the world of asset management. Higher returns are not guaranteed, and the book will be too complex for many, but for those with some background it's a worthwhile splurge.
Book Description
Published in association with the Global Association of Risk Professionals
As e-commerce and globalization continue to expand, so does the level of operational risk, increasing the need for guidance on how to measure and manage it. This is the definitive guide to managing operational risk in financial institutions. Written in a concise, no-nonsense style, and containing numerous real-life case studies, it covers all the bases from the basics of what operational risk is to how to design and implement sophisticated operational risk management systems. Readers will appreciate the up-to-the-minute coverage of the latest techniques and practices to manage operational risk. They will learn how to enhance their positions in the face of anticipated new regulatory standards and capital requirements.
Douglas G. Hoffman (Fairfield, CT) is an independent consultant in operational risk management. His firm, Operational Risk Advisors, provides executive training and assists financial institutions and corporate clients worldwide in operational risk analysis and mitigation.
Customer Reviews:
Highly Recommended!.......2004-06-07
Timely and dense, this comprehensive treatment of risk assessment and management maps the minefield of business and financial risks. Although professional-level information on banking and financial risk management cannot avoid a certain intensely mathematical character, this volume also pays careful attention to the "softer" side, and stresses the importance of cultural and attitudinal factors. It is a very well-balanced presentation of the subject. However, this very valuable information is written in a turgid, repetitive, convoluted and confusing style that makes it a chore to read. This risk could have been managed by a ruthless editor able to cut half of the undergrowth to clear a path to the meaning. Are advice to bankers and risk managers: brew some strong coffee and slog through the text. The content is too important to ignore.
Useless.......2003-09-09
I found this book to be very theoretical and not practical at all. Save your money!
Too much and not enough!.......2003-08-06
This book is good for those who already know what OpRisk is all about, or at least are familiar with banking terms and financial measurement systems. If you are new to the game, you are likely to become very frustrated.
Mr Hoffman throws a multitude of operational risk "building blocks" on the floor in the opening chapter, tells us that we will use them to build a "house", picks them up one-by-one and explains them - sometimes well, sometimes poorly. If you already have the big picture, i.e. you know what the finished "house" is supposed to look like, you will be able to follow - most of the time (see below). If you know little or nothing about OpRisk, I am fully convinced that the book would be easier to understand backwards - i.e. the chapters are read in reverse order (no joke).
There are also several points in the book which had me scratching my head at the consistency of it all! To pick just one example, on page 186 there is a list of what Mr Hoffman calls "Top Down" and "Bottom Up" risk assessment methodologies. In this list, "Delphi Scenarios" is listed as one of the TOP DOWN methods. Two pages later, under the heading "BOTTOM-UP RISK ASSESSMENT METHODS", Delphi Scenarios are discussed/mentioned!!! What is it really - a Top Down or Bottom Up method??
There are several other examples throughout the book likely to cause more than a little confusion to the attentive beginner.
Informative Read.......2002-03-12
Douglas Hoffman's extensive experience in the field of operational risk shines through in this book as he takes operational risk out of the classroom and applies it to real world examples. This is an insightful read for any operational risk professional.
Good Introduction.......2002-03-10
I am new to the field of operational risk and this book provided a good introduction. It is readable and practical. I especially found the discussion of Banker's Trust's operational risk department and methodology fascinating. This book is actually readable unlike so many others in the field.
Book Description
This book is a companion volume to the authors' classic The Capital Budgeting Decision and explores the complexities of capital budgeting as well as the opportunities to improve the decision process where risk and time are important elements.
There is a long list of contenders for the next break-through for making capital budgeting decisions and this book gives in-depth coverage to:
* Real options. The value of a project must take into consideration the flexibility that it provides management, acknowledging the option of making decisions in the future when more information is available. This book emphasizes the need to assign a value to this flexibility, and how option-pricing theory (also known as contingent claims analysis) sometimes provides a method for valuing flexibility.
* Decomposing cash flows. A project consists of many series of cash flows and each series deserves its own specific risk adjusted discount rate. Decomposing the cash flows of an investment highlights the fact that while managers are generally aware that divisions and projects have different risks, too often they neglect the fact that the cash flow components may also have different risks, with severe consequences on the quality of the decision making.
Designed to assist business decisions at all levels, the emphasis is on the applications of capital budgeting techniques to a variety of issues. These include the hugely significant Buy versus Lease decision which costs US corporations billions of pounds each year. Current business decisions also need to be made considering the cross-border implications, and Global Business Aspects, identifying the specific aspects of international investment decisions, appear throughout the book.
Average customer rating:
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Cost Analysis for Capital Investment Decisions (Cost Engineering series)
Hans Lang
Manufacturer: CRC
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- Good Coverage
- Financial Models Using Simulation and Optimaization
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Risk Management and Analysis, Measuring and Modelling Financial Risk (Wiley Series in Financial Engineering)
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Risk Management and Analysis, New Markets and Products (Wiley Series in Financial Engineering)
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The Black Swan: The Impact of the Highly Improbable
ASIN: 0471979570 |
Book Description
Risk Management and Analysis Volume 1 Measuring and Modelling Financial Risk Edited by Carol Alexander In the two years since the publication of The Handbook of Risk Management and Analysis interest and the practice of management, modelling and control of financial risks has grown enormously. The author/editor has produced two stand-alone or companion volumes. Only one third of the original material remains. Measuring and Modelling Financial Risk has been structured in four parts: the first three chapters survey standard approaches to measuring and modelling financial risk from the risk manager perspective, Chapters 4 and 5 are aimed primarily at quantitative risk analysts whose job it is to put the systems in place. Chapters 6 and 7 discuss important issues in IT and systems design, and the last two chapters cover pricing and risk management of credit-risky products. Leading figures in the field contribute: Michel Crouhy, Dan Galai and Robert Mark, Stan Beckers, Thomas Wilson, Mark Broadie and Paul Glasserman, Nigel Webb, Ron Dembo, Robert Jarrow and Stuart Turnbull, and Lee Wakeman. "Risk management is becoming an increasingly important activity for financial institutions, fund managers, and corporate treasurers. It used to be the case that the brightest 'quants' were used to design and value ever-more-exotic derivatives. Now increasingly they are finding that their talents can best be put to work in risk management. In this volume Carol Alexander has gathered together nine articles concerned with different aspects of risk management and analysis. The topics covered include the regulatory framework, volatility and correlation models, value at risk, and credit risk. The book will provide a valuable source of reference material for both market participants and students." John Hull, August 1998
Customer Reviews:
Good Coverage.......2000-03-24
This book covers the topic very well. It is clear and concise. Useful for anyone who wants an overview of risk management concepts. But if you are like me who understands better with lots of numbers and examples, this is not it.
Financial Models Using Simulation and Optimaization.......1999-12-17
A good book to tell you methodical risk analysis in the area of fincance and marketing. If more interpretaions of analysis results written there, I would have rated it as "5" stars.
Book Description
Individuals and businesses face large numbers of decisions where it is reasonably feasible to quantify key costs and benefits of a project. This invaluable book enables the decision-maker to make sensible choices when elements of time and risk are present. While other measures can help describe the outcomes, Bierman and Smidt's book focuses on the theme of net present value (NPV), of how it is the most reliable single measure of value, and of how it is important for the users of these tools to understand their limitations. This book was a classic text and ran to eight editions as a Macmillan text before being taken on by Prentice Hall. By this time it had become unwieldy and had split into an introductory and advanced volume. As Prentice Hall released the rights in the introductory volume, the authors propose that this new book (or 9th edition tbc) should return to its roots as a clear and concise introduction to this complex but essential topic in corporate finance. A new theme of this edition is adjusting for uncertainty and a wholly new chapter exploring the use of Real Options has been added.
Product Description
Inside the Minds: Venture Capital Valuations is an indispensable guide for both venture capitalists and entrepreneurs alike on the art and science of valuing companies. Featuring managing directors and senior partners representing some of the world's top venture capital firms, this book offers proven strategies for establishing valuations and protecting ones investment. From the steps involved in conducting due diligence to strategies around handling negotiations, evaluating factors like the rate of return, market size, and exit potential, these experts offer tips for the best ways to navigate the intricacies of the valuation process. How do valuations differ for a startup or established company? Profitable or non-profitable? Public or private? The authors address these questions and more as they reveal the secrets to their successful investments and offer invaluable tips for newcomers to the valuation process. The different niches represented and the breadth of perspectives presented enable readers to get inside some of the great minds powering the venture world, as experts offer up their thoughts around the keys to success within this facet of venture capital - where investing, strategizing, and deal-making intersect. About Inside the Minds: Inside the Minds provides readers with proven business intelligence from C-Level executives (Chairman, CEO, CFO, CMO, Partner) from the world's most respected companies nationwide, rather than third-party accounts from unknown authors and analysts. Each chapter is comparable to an essay/thought leadership piece and is a future-oriented look at where an industry, profession or topic is headed and the most important issues for the future. Through an exhaustive selection process, each author was hand-picked by the Inside the Minds editorial board to author a chapter for this book.
Customer Reviews:
A Misleading Book Title.......2006-09-22
I was expecting a book discussing and employing actual valuation methods for different stage start-up companies, rounds of financing and maybe, the valuation of the different classes of stock that get issued in the subsequent rounds.
Instead, the book talked in generalities about how difficult valuing start-up entites is and how VCs focus on the product, the market and the management team. There was only one page where exit multiples and time to exit were discussed. In another section, there were some numbers presented regarding the effect of per share round on the price, but it was so poorly written and the exhibits so badly laid out, I could not follow what they were trying to say.
Each chapter was written by a different VC and reflected their own opinions and experiences, which was good.
There was good information in the book, but not at all what the title implied.
Average customer rating:
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The Economic Analysis of Industrial Projects (Prentice-Hall International Series in Industrial and Systems Engineering)
Lynn E. Bussey , and
Ted G. Eschenbach
Manufacturer: Prentice Hall
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Books:
- Deal Terms - The Finer Points of Venture Capital Deal Structures, Valuations, Term Sheets, Stock Options and Getting VC Deals Done (Inside the Minds)
- e-Business & e-Commerce for Managers
- E-Commerce: Business, Technology, Society (3rd Edition)
- Economics of Money, Banking, and Financial Markets, Update (7th Edition) (Addison-Wesley Series in Economics)
- Effort-Less Marketing for Financial Advisors
- Electronic Commerce 2004: A Managerial Perspective, Third Edition
- Essentials of Marketing: A Global-managerial Approach (Mcgraw-Hill/Irwin Series in Marketing)
- EVA and Value-Based Management: A Practical Guide to Implementation
- Form Your Own Limited Liability Company 4th Edition
- Foundations of Financial Management (The Mcgraw-Hill/Irwin Series in Finance, Insurance, and Real Estate)
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