This class started with an examination of the broad themes of the class; that valuation is a craft, that there is a difference between valuing and pricing, that good valuations are bridges between stories and numbers and that to act on valuations requires faith. This is a class about valuation in all of its many forms – different approaches (intrinsic, relative & contingent claim), different forums (for acquisitions, value enhancement, investing) and across different types of businesses (private & public, small and large, developed & emerging market). After spending some time laying out the script for the class (quizzes, exams, weekly tortures), I suggested that you start thinking about forming a group and picking companies. Syllabus Slides: www.stern.nyu.edu/~adamodar/pdfiles/eqnotes/eqUGsyllspr21.pdf Post class test: www.stern.nyu.edu/~adamodar/pdfiles/eqnotes/postclass/session1test.pdf Post class test solution: www.stern.nyu.edu/~adamodar/pdfiles/eqnotes/postclass/session1soln.pdf

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