Valuation and common sense, Pablo Fernández


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