The Dark Side of Valuation: Valuing Old Tech, New Tech, and New Economy Companies

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The Dark Side of Valuation: Valuing Old Tech, New Tech, and New Economy Companies
by Aswath Damodaran
from FT Press

Customer Reviews:

• Avg. Customer Rating: 4.0 / 5.0

• 'Investment Valuation' with new title and cover
  The Pros:

  Damodaran is a gifted teacher and in his books is able as well to explain the concepts and techniques of valuation in an understandable manner. The book serves mainly for readers who want to get a comprehensible (and to a certain degree comprehensive) overview of the topics with selected in-depth discussions and it is quite 'readable'.

  The Cons:

  The book is not new at all, as about 90% is a copy of his earlier book 'Investment Valuation'. The only real difference is the selection of the... more info

• The best valuation book I have read!!!
  Do you need to understand the basic fundamentals of valuation? Then this is the book you need. This book will take you through step by step on how to value a company and the assumptions you need to make. By far, this book is much easier to read and understand than the book "Valuation," written by couple of Mckinsey consultants.

• The best book so far on valuation from the investor's view
  Although much of the organization and explanation of valuation techniques presented here repeats the presentation in Damodaran's previous books, he does two things which make this the better book than the previous books: 1) he discusses the role of "tech" companies in our economy and he selects 5 specific companies which serve as his examples in every chapter and 2) he makes reference to excel spreadsheets (available for free download on his web page) which he has prepared to allow readers to apply what... more info

• Strong on the valuation of old tech companies
  Excellent introduction to discounted cash flow approach to valuation. Excellent examples. But very weak on real options valuation. After recognizing that real options are mostly american, the author values them like european anyway resulting in systematic undervaluation of real options. This is a shame since much of the value of new companies come from real options. If you are already familiar with DCF valuation, then you might prefer Copeland's 'Real Options' to bring yourself up to date with the latest... more info

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