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Groundhog day in Greece, Hijinks in Brazil and Market Chaos in China:...
It’s been an eventful few weeks. Greece’s extended dance with default has left even seasoned players of the European game exhausted and hoping for a resolution one way or the other. In Latin America,...
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Valuing Country Risk: Pictures of Global Risk - Part II
In my last post, I looked at the determinants of country risk and attempts to measure that risk, by risk measurement services, ratings agencies and by markets. In this post, I would first like to focus...
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Pricing Country Risk - Pictures of Global Risk - Part III
In my last two posts, I looked at country risk, starting with an examination of measures of country risk in this one and how to incorporate that risk into value in the following post. In this post, I...
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Decoding Currency Risk: Pictures of Global Risk - Part IV
In my last three posts, I have looked at country risk, starting with measures of that risk and then moving on to valuing and pricing that risk. You may find it strange that I have not mentioned...
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Storied Asset Sales: Valuing and Pricing "Trophy" Assets
Pearson PLC, the British publishing/education company, has been busy this summer, shedding itself of its ownership in two iconic media investments, the Financial Times and the Economist. On July 23,...
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Beijing Blunders: Bull in a China Shop!
I have generally steered from using my blog as a vehicle for rants, not because I don't have my share of targets, but because I know that while ranting makes me feel better, it almost always creates...
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My Valuation Class: The Fall 2015 Model Preview
It is almost September and as the academic clock resets for a new year, I get ready to teach a new valuation class. With three hundred registered students, it is about as diverse a class as any I have...
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What's in a name? Of Umlauts, The Alphabet and World Peace!
As the title should forewarn you, this is a post that will meander from eating spots to basketball players to corporate name changes. So, if you get lost easily, you may want skip reading it. It is...
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No Mas, No Mas! The Vale Chronicles (Continued)!
I have used Vale as an illustrative example in my applied corporate finance book, and as a global mining company, with Brazilian roots, it allows me to talk about how financial decisions (on where to...
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DCF Myth 1: If you have a D(discount rate) and a CF (cash flow), you have a DCF!
Mod Note (Andy) - as the year comes to an end we're reposting the top discussions from 2015, this one ranks #35 and was originally posted 2/24/2015.Earlier this year, I started my series on discounted...
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