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Discount Rate Myth 5: As rates approach zero, value goes to infinity!
In this session, the last of five on discount rate myths, I look at how low interest rates have skewed both actual valuations and how we think about …
2 weeks ago
Session 22: Real Options - Fact and Fiction
We started this class by looking at the basic option pricing models. After that, we moved on with an examination of option pricing models, and used r…
2 weeks, 1 day ago
Discount Rate Myth 4: The Discount Rate is the receptacle for all your hopes and fears
In this session, the fourth of five on the discount rate myths, I look at how analysts and appraisers use the discount rate as a receptacle for all t…
2 weeks, 1 day ago
Session 24: Real Options - Fact and Fantasy
Note: I was off my game in this session, with a voice that was starting to go after two earlier sessions and I forgot to share the slides until half …
2 weeks, 1 day ago
Discount Rate Myth 3: The Discount Rate cannot change in a DCF!
In this session, the third of five on discount rate myths, I look at the widely held view that the discount rate in a DCF is a constant. In reality, …
2 weeks, 1 day ago
Session 23: Dividends and Potential Dividends
In this quiz-shortened session, we started by looking at one good reason for paying dividends, including having an investor base that likes dividends…
2 weeks, 2 days ago
Discount Rate Myth 2: It's all about D in a DCF
In this session, the second of five on discount rate myths, I look at the undue attention that both academics and practitioners pay to discount rates…
2 weeks, 2 days ago
Session 23: Undeveloped reserves, the option to expand and the option to abandon
In this quiz-shortened session, In today’s class, we continued with our discussion of real options, starting with an analysis of undeveloped natural …
2 weeks, 2 days ago
Discount Rate Myth 1: If you don't like betas, you cannot do DCF
In this session (the first of five on discount rate myths in DCF), I look at the notion that modern portfolio theory (and the use of betas to get dis…
2 weeks, 2 days ago
Session 25: Undeveloped Reserves and Options to Expand and Delay
In this quiz-shortened session, we continued with our discussion of real options, starting with an analysis of undeveloped natural resources are opti…
2 weeks, 3 days ago