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Writings on
Finance
Thoughts and views on all things related to business valuation and corporate finance from a practitioner's view
Sep 5, 2024
Deriving an accurate discount rate is a fool's errand
Accountants, investors, and many large corporates around the world use the discount rate as the go-to metric for pricing any asset that...
Mar 9, 2023
Fair value vs high value
Curating and designing the short-term narrative towards a high value sometimes comes at a cost.
Dec 26, 2022
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...
Dec 11, 2022
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...
Oct 6, 2022
Numbers and the narrative
Whenever I approached the close of my financial modelling course, I always did a simple roll-call to call for feedback from everyone in...
Jul 21, 2020
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...
May 4, 2020
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.
May 1, 2020
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...
Apr 6, 2020
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.'
Feb 6, 2020
Wow, Tesla's bigger than GM and Ford?
Tesla's bigger than GM and Ford?
May 13, 2018
Don't list for the sake of listing
There are many merits to taking a company public - prestige and publicity. But sometimes, this is not necessarily the best way.
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