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Web Casts: Executive Valuation - June 2013

This three-day equity valuation class was offered in New York from June 4-6, and the lectures are available for download. To get a full flavor for the class, you may want to start with the website that I put together for the class.

Website for sessions

You can then follow up by downloading the lecture note packet for the class

Lecture notes for the class

And here are the webcasts, organized into twelve hour and a half sessions, with the lecture note pages that are relevant for each session. Note that these sessions are long (about 3.5 hours, though there should be a 30-minute break in the middle of the video, where the webcast continues but there is nothing happening. Jump past that session or use it to take a break).

Session (Click here) Topics covered Lecture notes

1 (June 3, 9-12.30)
Live Stream
Video download
Audio download

Introduction to Class
Approaches to Valuation

Big Picture of valuation
- Amgen & Tata Motors Valuations
- The inputs to value
- Riskfree rate

Page 1-33

2 (June 3, 1.30-5)
Live Stream
Video download
Audio download
Equity Risk Premiums
Beta estimation
From cost of equity to cost of capital
Cash flow estimation: Getting earnings right

Page 34-88
3 (June 4, 9-12.30)
Live Stream
Video download
Audio download
More on earnings and cash flows
Expected growth
Terminal Value
Value Creation
- Value versus Price Enhancement
- Pathways to increase value
- Acquisitions and value
- Capital Structure & Value
Page 89-161
4 (June 4, 1.30-5)
Live Stream
Video download
Audio download
Loose Ends in Valuation
- The value of cash, cross holdings & other assets
- The cost of complexity
- The value of control
- Dealing with truncation risk
- Management options
The Dark side of valuation: Valuing young companies
Page 162-206

5 (June 5, 9-12.30)
Live Stream
Video download
Audio download

The Dark Side of Valuation
- Valuing mature companies
- Valuing distressed companies
- Valuing financial service companies
- Valuing companies with intangible assets
- Valuing commodity & cyclical companies
- Valuing multibusiness companies
- Valuing private businesses
Page 207-267
6 (June 5, 1.30-5)
Live Stream
Video download
Audio download
Value versus Price
Relative valuation
- The philosohical basis
- The Definitional tests
- The Descriptive tests
- The Analytical tests
- The Application tests
Closing thoughts

Page 268-End

And once you get done, here is my post-seminar website to test out your knowledge

Post-session site