Valuation Workshop with Professor Damodaran

Valuation Workshop with Professor Damodaran

ASA European chapter is proud to offer an extraordinary valuation workshop with Prof. Aswath Damodaran

13 - 14 June 2018

Slovanský dům

Prague, the Czech Republic

2018-06-13 09:00:00 2018-06-14 22:00:00 Europe/Prague Valuation Workshop with Professor Damodaran The workshop is organized by one of the leading professor of Finance who will provide powerful insights in the world of valuation. The training will also open the floor for extensive networking and knowledge sharing. Slovanský dům, Prague, Czech Republic ASA Europe info@asaeu.org

About

The workshop is organized by one of the leading professor of Finance who will provide powerful insights in the world of valuation. The training will also open the floor for extensive networking and knowledge sharing.

Participants should be able, at the end of the extensive workshop, to apply all valuation methods standardly applied (e.g. discounted cash flow methods, comparable methods).

Objective

The objective of the seminar is to provide the fundamentals of each approach to valuation, together with limitations and caveats on the use of each, as well as extended examples of the application of each. At the end of the seminar, participants should be able to –

  • Value any kind of firm in any market, using discounted cash flow models (small and large, private and public)
  • Value a firm using multiples and comparable firms,
  • Analyze and critique the use of multiples in valuation,
  • Value “problem” firms, such as financially troubled firms and start up firms,
  • Estimate the effect on value of a restructuring a firm.

The workshop includes workshop materials & presentations, refreshment breaks & lunch.

Agenda

StartEndLunch Break
09:0017:0012:00-13:00

Preliminary agenda indicated may be subject to change.


More detailed breakdown presented below.

Session Time Material
Day 1: am

The Discounted Cash Flow Model

Setting up the Model

The Big Picture of DCF Valuation

Valuation Examples

The Discount Rate Question

Day 1: pm

Risk premiums and Betas

The Cost of Debt

Estimating Cash Flows

Estimating Growth Rates

Estimating Growth Patterns

The Terminal Value

Closing Thoughts on DCF valuation

Day 2: am Loose Ends in Valuation
  • Cash, Cross holdings and other assets
  • The Value of Control, Synergy and Transparency
  • The Liquidity Discount
  • Employee Stock Options

The Dark Side of Valuation

  • Valuing young, growth companies
  • Valuing mature companies in transition
  • Valuing declining and distressed companies
  • Day 2: pm

    The Dark Side of Valuation Continued

    • Valuing cyclical companies
    • Valuing commodity companies
    • Valuing financial service companies
    • Valuing private businesses

    Relative Valuation

  • Deconstructing multiples
  • Comparable company valuation
  • Open Q&A

    Fees

    Fees*:

    Valuation workshop with professor Damodaran (13 - 14 June 2018)**

    ASA Members: EUR 1,200 (CZK 30,000)

    Non-members: EUR 1,500 (CZK 37,500)

    * Including VAT of 21%.

    Capacity is limited. Please register early. After registering, you will receive an invoice with payment instructions. Bank transfer is the preferred payment method. You can also pay by credit card (Visa or MasterCard) with a 3,5% surcharge for processing fees. There is no surcharge for payments by bank transfer. Registration will be confirmed on a first-come first-serve basis after payment is received.


    ** The workshop fee includes:

    • Refreshment during coffee breaks, lunch;
    • Training materials that will be provided online;
    • Evening reception which provides a great opportunity to meet with other participants.

    Cancellation Policy: A cancellation fee of 50% applies for all cancellations by until 21 April 2018. No refunds will be issued for any cancellations made after that date. Substitutions from the same company are accepted with a fee adjustment, if appropriate.

    Venue

    Venue:

    The workshop will take place at Slovanský dům which is situated on the main market street in Prague Na Příkopě. This historical building, renovated in the 20th century as a business centre with shops and cinemas, was originally a Baroque palace called “Vernierovský” built in 1697. In the year 1797, it was reconstructed to the classicist style. You can walk there easily from the square Namesti republiky or Mustek.

    Slovanský dům

    Na Příkopě 22, Prague 1

    Czech Republic

    Tel: +420 221 451 380

    Panorama view: http://www.slovanskydum.cz/panorama

    Virtual view: http://www.slovanskydum.cz/virtualni-prohlidka

    Video presentation: https://www.youtube.com/watch?v=E4rIg6WLv_4


    Attire: Business casual

    Language: All presentations will be in English.

    Refreshments: Morning and afternoon coffee breaks and lunch will be provided.

    The ASA European Chapter does not assume responsibility or liability for stolen, lost, or damaged personal property.

    Contact

    If you have any queries please contact us at the following e-mail address:

    conference@asaeu.org

    Contact person: Debora Zvardonova (Tel. +420 730 542 154)