Deriving an accurate discount rate is a fool's errand
Value sits with the beholder of cash in his pockets, who are you to say otherwise?
Fair value vs high value
Curating and designing the short-term narrative towards a high value sometimes comes at a cost.
The era of bullshitting is over
Social media had only really started to take off some time in 2009. In the 2020 TV documentary The Social Dilemma, the show talks about...
No such thing as fair value
I always have had interesting conversations around the assumption and concept of terminal value (TV) in my valuation and financial...
Numbers and the narrative
Without connecting the numbers to a story, projecting cash flows simply becomes an emotionless exercise of numbers.
More focus on cashflows, not discount rate
Too many folks who hail from the 'old' system in investment banks continue to quiz junior bankers on discount rates...
Valuation and the velocity of information
In business valuation, the pricing estimates done by analysts can be thought of both right and wrong, until proven by the market.
Understanding and modelling convertible bonds
A convertible bond ("CB") is like the multi-flavored ice-cream: It's not plain vanilla (pun intended). Modelling convertible debt in...
Revenue is an ego game
'Revenue is an ego game. We could boost revenue tomorrow if we wanted. We run this company for gross profit.'
Wow, Tesla's bigger than GM and Ford?
Tesla's bigger than GM and Ford?