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Session 8: Expected returns and Costs of Equity
In this class, we looked past regression betas at how the choices companies make about the businesses they enter can determine their betas.. Summariz…
4 months ago
Session 6: Measuring Beta, cost of debt and capital
In this session, I look at bottom up betas and how best to measure them. I also look at the process of estimating costs of debt & capital.
Start of th…
4 months ago
Session 8: Closure on Cost of Capital + First steps on cash flows
In this session, we completed our discussion of the cost of capital, by talking about the ingredients that go into the cost of debt and the weights t…
4 months ago
Session 6: Equity Risk Premiums
In this session, I look at the process of estimating equity risk premiums for countries and then extend that discussion to estimating it for a compan…
4 months ago
Session 10: FCFE Closure and First Steps on Growth
In this session, we started by completing our discussion of FCFE and how it varies over a corporate life cycle, and then looked at three approaches t…
4 months ago
Session 5: Implied Equity Risk Premiums (Fixed with slides)
In this session, I look at the intuition behind implied equity risk premiums and how to get from a country ERP to a company ERP.
Start of the class te…
4 months ago
Session 9: More on beta - bottom up betas and private company betas
In this session, we continued the discussion of betas being weighted averages, and used the concept to estimate the beta for Disney, starting with it…
4 months ago
Valuation Tools Webcast: Reading a 10K
Financial statements are increasingly filled with fluff and knowing how to separate what matters from what does not is critical. In this webcast, I l…
4 months ago
Session 5: Risk and Return Models
In this session, we did an overview of how we think about and measure risk in finance, the characteristics of a good risk & return model and whether …
4 months ago
Session 11: Closure on Growth and First Steps on Terminal Value
In this session, we continued with our discussion of sustainable growth, by looking at growth in net income and operating income, using versions of t…
4 months ago