{"product_id":"the-dark-side-of-valuation-valuing-young-distressed-and-complex-businesses-9780134854106","title":"The Dark Side of Valuation: Valuing Young, Distressed, and Complex Businesses","description":"\u003cb\u003eThe Definitive Guide to Valuing Hard-to-Value Companies: Fully Revised for Today's Financial Markets\u003c\/b\u003e \u003cp\u003e\u003c\/p\u003eValuing money-making companies that have long histories and established business models is straightforward. It is when you encounter difficult-to-value companies that you feel the urge to go over to the dark side of valuation--where you abandon first principles and create new metrics. Aswath Damodaran looks at a range of these companies, from start-ups in new businesses to distressed companies, from banks facing regulatory turmoil to commodity firms, and from emerging market upstarts to multinationals that spread across geographies and businesses. With each grouping, he helps you examine the call of the dark side and its practices and frameworks to value these firms. \u003cp\u003e\u003c\/p\u003eTo answer these questions, Aswath looks at companies across the life cycle and in different markets, from Uber and Shake Shack at one end of the spectrum to Vale, Royal Dutch, and United Technologies at the other end. \u003cp\u003e\u003c\/p\u003eIn the process, you learn how to \u003cbr\u003e \u003cul\u003e \u003cli\u003eDeal with \"abnormally low\" and negative risk-free rates in valuation \u003c\/li\u003e \u003cli\u003eAdapt to dynamic and changing risk premiums \u003c\/li\u003e \u003cli\u003eValue young companies that are disrupting existing businesses \u003c\/li\u003e \u003cli\u003eAnalyze commodity and cyclical companies across cycles \u003c\/li\u003e \u003cli\u003eValue a company as the sum of its parts or as an aggregation of its users\/subscribers and customers \u003c\/li\u003e \u003cli\u003eDetermine the difference between pricing and valuation, and why some investments can only be priced\u003c\/li\u003e \u003c\/ul\u003e \u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAbout the Author\u003c\/b\u003e\u003cbr\u003e\u003cb\u003eAswath Damodaran\u003c\/b\u003e is Professor of Finance at the Stern School of Business at New York University. He teaches the corporate finance and equity valuation courses in the MBA program. He received his MBA and PhD from the University of California at Los Angeles. He has written several books on corporate finance, valuation, and portfolio management. He has been at NYU since 1986 and has received the Stern School of Business Excellence in Teaching Award (awarded by the graduating class) eight times. He was profiled in \u003ci\u003eBusinessWeek\u003c\/i\u003e as one of the top twelve business school professors in the United States in 1994 and was chosen the most popular business school professor in 2012. \u003cp\u003e\u003c\/p\u003e\u003cbr\u003e","brand":"Pearson FT Press","offers":[{"title":"Default Title","offer_id":50725271240978,"sku":"9780134854106","price":55.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0831\/4771\/8930\/files\/img_5c5348c1-1d50-4339-bb90-b5637656d907.jpg?v=1734822965","url":"https:\/\/surprise-castle.myshopify.com\/products\/the-dark-side-of-valuation-valuing-young-distressed-and-complex-businesses-9780134854106","provider":"Surprise Castle","version":"1.0","type":"link"}