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Course
| Subject: | Economics |
| Topic: | Finance |
| Views: | 70,126 |
Valuation
Video Lectures
Displaying all 23 video lectures.
Lecture 1 Play Video |
Introduction to Valuation Introduction to Class Lecture Notes: - Syllabus for class - Project Description - Introduction to Valuation |
Lecture 2 Play Video |
Approaches to Valuation Approaches to Valuation Introduction to DCF valuation Firm vs Equity Valuation |
Lecture 3 Play Video |
Valuation Riskfree Rates - The Big Picture of Valuation - Riskfree Rates - Necessary Ingredients - What if the government is not default free?
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Lecture 4 Play Video |
Equity Risk Premiums Equity Risk Premiums - What are they? - Historical Risk Premiums - Country Risk Premiums - Company Exposure to Country Risk - Implied Equity Risk Premiums |
Lecture 5 Play Video |
Equity Risk Premia and Bond Default - Equity Risk Premia and Bond default spreads - Equity Risk Premia and Real Estate Cap Rates - Implied premia for emerging markets - Betas - The problem with regression betas - Solutions Weekly Challenge # 2:
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Lecture 6 Play Video |
New ERP for September 2009 - Updated ERP for September 2009 - The Cost of Debt - Why we use market value debt ratios. - Cost of Capital: From one currency to another. Lecture Notes: ERP Computation Spreadsheet: 9/30/09 |
Lecture 7 Play Video |
Hybrid Securities Measurings Earnings - Hybrid Securities - Measuring Earnings: - Updated values - Corrrecting for leases - Correcting for R&D |
Lecture 8 Play Video |
Accounting fraud, Money losing, Tax rates & Cap Ex Accounting Fraud: - Dealing with money losing companies - Tax rates - Cap Ex Take the first quiz and check out the solution as well as the distribution of grades for the class. |
Lecture 9 Play Video |
Working Capital - Working Capital: Definition and Forecasting - Cash flow to Equity: Dividends, Earnings and FCFE - Expected Growth - The problems with historical growth - Analyst and Management forecasts of growth - Fundamental Growth |
Lecture 10 Play Video |
Fundamental Growth Fundamental Growth - EPS versus Net Income - Organic vs Efficiency Growth -Operating Income Growth -Growth with money losing companies Terminal Value -Why multiples don't work - Consistency rules (Growth rate, Length of growth, Excess Returns) Weekly Challenge # 4A: Terminal Value Mechanics and solution |
Lecture 11 Play Video |
Terminal Value - Terminal Value: Final Thoughts - Picking the "right" DCF Model - Loose Ends in Valuation - The Value of Cash - The Value of Cross Holdings |
Lecture 12 Play Video |
Other Missed Assets - Other Missed Assets - The Value of Complexity - Defining Debt: Cost of Capital Versus Debt to Net Out - Equity Options Weekly Challenge # 5: Dealing with management options and solution |
Lecture 13 Play Video |
Valuation Examples Valuation Examples - Implied growth rate & Target prices - Financial service firms: pre and post crisis - Valuing the S&P 500 - Negative FCFE and dilution effects |
Lecture 14 Play Video |
Valuing Corporate Governance Lambdas - Valuing Corporate Governance - Lambdas and Value - The Dark Side of Valuation - Valuing Young Companies Weekly Challenge # 6: Circular Reasoning in DCF Valuation: Weekly Challenge, Daimler valuation and Solution |
Lecture 15 Play Video |
Valuing companies with R&D - Valuing Companies with R&D - Dealing with Uncertainty in Valuation - Valuing Declining and Distressed Companies - Macro Effects on Valuation - Relative Valuation - Introduction - Definition and Descriptive Tests |
Lecture 16 Play Video |
Analysis and Application Tests: The PE Ratio - Analysis and Application Tests - The PE Ratio - Definition - Description - Determinants Take the second quiz and check out the solution as well as the distribution of grades for the class. |
Lecture 17 Play Video |
PE and PEG Ratios More on PE Ratios - Comparing PE ratios across markets - Comparing PE ratios across companies - Cross sectional regressions PEG Ratios - Definition and Determinants |
Lecture 18 Play Video |
PEG Ratios - Applications - PEG Ratios: Applications - Price to Book Ratios - Value Multiples - EV/EBITDA and Determinants Weekly Challenge # 7: Analyzing the PEGY ratio and Solution |
Lecture 19 Play Video |
Visualizing Cheap Companies - PBV versus ROE - Visualizing cheap companies: PBV versus ROE - EV to Book Capital Ratios - Finding the companion variable - PS and EV/Sales Ratios - Brand Name Value |
Lecture 20 Play Video |
Option Pricing Redux - Option Pricing Redux - The Option to Delay - Valuing Patents - Valuing Undeveloped Natural Reserves |
Lecture 21 Play Video |
Valuing Equity as an Option - Final Thoughts on Valuing Equity as an Option - Acquirers' Anonymous: Seven Steps to Sobriety - Evidence on Acquisitions - Acquisition Tests |
Lecture 22 Play Video |
Acquisition Tests, Price v. Value - More Acquisition Tests - Price Versus Value Enhancement - Pathways to Value Enhancement - The Value of Control |
Lecture 23 Play Video |
Closing thoughts on Value Enhancement - Closing thoughts on Value Enhancement - Dante meets DCF: Ten Sins in Valuation - Project Findings Closing Presentation |
