Techniques in Finance & Valuation
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       What is Valuation?
       Valuation: Methods of quantifying how much money something 
         should be exchanged for today, considering future benefits.
       We will teach 4 valuation methods
         
 Trading Comparables
         
 Transaction Comparables                             $
         
 Sum-of-the-Parts Valuation
         
 Discounted Cash Flow Analysis (DCF)
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      Why is Valuation important?
                                  Acquisitions:
                                How much should we 
                                pay for the company?
                                                        Divestitures:
                                                       How much should we 
             Sell-side Research:                       sell our company for?
            Should our clients buy, 
             sell or hold a given 
             stock (fixed income 
             security, option etc.,)?
                                   Valuation
                                                        Initial Public Offering 
                                                            (IPO): 
                Hostile defense:                          How much is the 
                 Is our company                           company worth?   
               undervalued/vulnerable                    (price per share )
                to a hostile bidder?
                                 Debt offerings:
                               What is the value of the 
                               company against which 
                                debt is being issued? 
                                  (collateral) 
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     Trading Comparables
     Relative Valuation Technique
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