This free book (6th edition,
updated until September 2017) has 514 tables and 414 figures that are available (with all calculations) in
Figures and Tables in Excel Format
It also has more than 1,000 readers comments of previous editions. I use the book with MBAs and Executives.
You may use (resend, distribute, copy, photocopy…) the book and any chapter as you wish. I would very much appreciate any of your suggestions for improving the book.
You may use (resend, distribute, copy, photocopy…) the book and any chapter as you wish. I would very much appreciate any of your suggestions for improving the book.
IESE Business School
The 48 chapters may be downloaded for free at the following links:
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Valuation and Common Sense
Chapters
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Downloadable at:
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Table of contents, acknowledgments, glossary
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1
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Company valuation methods
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2
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Cash flow is a fact. Net income is just an opinion
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3
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Ten badly explained topics in most corporate finance books
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4
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Cash flow valuation methods: perpetuities, constant growth and general case
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5
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Valuation using multiples: how do analysts reach their conclusions?
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6
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Valuing companies by cash flow discounting: ten methods and nine theories
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7
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Three residual income valuation methods and discounted cash flow valuation
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8
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WACC: definition, misconceptions and errors
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9
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Cash flow discounting: fundamental relationships and unnecessary complications
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10
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How to value a seasonal company discounting cash flows
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11
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Optimal capital structure: problems with the Harvard and Damodaran approaches
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12
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Equity premium: historical, expected, required and implied
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13
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The equity premium in 150 textbooks
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14
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Market risk premium used in 82 countries in 2012: a survey with 7,192 answers
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15
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Are calculated betas good for anything?
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16
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Beta = 1 does a better job than calculated betas
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17
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Betas used by professors: a survey with 2,500 answers
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18
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On the instability of betas: the case of Spain
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19
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Valuation of the shares after an expropriation: the case of ElectraBul
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20
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A solution to
Valuation of the shares after an expropriation: the case of ElectraBul
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21
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Valuation of an expropriated company: the case of YPF and Repsol in Argentina
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22
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1,959 valuations of the YPF shares expropriated to Repsol
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23
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Internet valuations: the case of Terra-Lycos
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24
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Valuation of Internet-related companies
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25
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Valuation of brands and intellectual capital
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26
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Interest rates and company valuation
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27
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Price to earnings ratio, value to book ratio and growth
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28
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Dividends and share repurchases
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29
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How inflation destroys value
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30
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Valuing real options: frequently made errors
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31
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119 common errors in company valuations
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32
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Shareholder value creation: a definition
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33
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Shareholder value creators in the S&P 500: 1991 – 2010
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34
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EVA and ‘cash value added’ do NOT measure shareholder value creation
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35
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All-shareholder return, all-period returns and total index return
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36
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339 questions on valuation and finance
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37
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CAPM: an absurd model
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38
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CAPM: the model and 307 comments about it
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39
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Value of tax shields (VTS): 3 theories with “some” common sense
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40
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Expected and Required returns: very different concepts
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41
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RF
and Market Risk Premium Used for 41 Countries in 2015: A Survey
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42
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RF
and MRP used by analysts in USA and Europe in 2015
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43
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Meaning of the P&L and of the Balance Sheet: Madera Inc
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44
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Net Income, cash flows, reduced balance sheet and WCR
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45
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Meaning of Net Income and Shareholders’ Equity
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46
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The Market Portfolio is NOT efficient
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47
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Is it Ethical to Teach that Beta and CAPM Explain Something?
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48
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Finance and Financial Economics: A debate
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