Session 4B: More on Story Telling and Pricing

Рет қаралды 3,673

Жыл бұрын

In this session (second half of the afternoon session, day 2), I spent some time using my Uber valuation in June 2014 to illustrate the link between stories and numbers, before closing out with a discussion of how best to price companies.
Slides: www.stern.nyu.edu/~adamodar/p...
(This is the first of eight sessions, recorded of a two-day valuation class that I taught for NYU's Trium MBA class in 2022. The playlist with all eight sessions is here:
pages.stern.nyu.edu/~adamodar...
The webpage for the class is here:
pages.stern.nyu.edu/~adamodar...
The entire lecture notes are at this link:
pages.stern.nyu.edu/~adamodar...)

Пікірлер: 14

@balintjoo Жыл бұрын

Dear Prof. Damodaran, Thank you for sharing this series of lectures. It was a delight to listen to them. One thing your discussion about the valuation for Uber makes me want to ask: is there such a thing as 'intrinsic value'? Or is valuation completely subjective? If so, what does that mean for efficient markets, and that sometimes the markets are mis-priced? Are they mis-priced, or do they just have different valuations? Is there such a thing as absolute intrinsic value? Is the difference in valuation and pricing simply the nature of the activity (one is more circumspect and makes estimates of cashflows, risks, etc. While the other is just: 'what are similar things priced at' ?). Perhaps I should listen to more of your fantastic lectures. Thank you once again

@me0101001000 Жыл бұрын

Intrinsic value is pretty subjective, yes. Of course, based on what we've learned through this series, there are certain ground rules, rather guidelines, which we must follow. Mispricing is completely unavoidable. As a numbers guy, that was something I really struggled with initially, but you have to accept that. The market relies on fundamentals, of course, but there is an inevitable human element to it. Look at GameStop, where people got angry and stuck it to hedge funds. Such cases are rare in that magnitude, but they do happen, and cannot be neglected. I think you should rewatch this whole series, or maybe the undergraduate and/or MBA lectures, if you're still struggling with your questions. But it's been 6 months. I hope you've found the answers to all of your questions.

@marinabaskakova2333 Жыл бұрын

Oh no, I wanted to hear the full mother in law story 😅

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