Narrative and Numbers: The Value of Stories in Business (Columbia Business School Publishing)
| Author | : | |
| Rating | : | 4.11 (926 Votes) |
| Asin | : | B01MRWGU4P |
| Format Type | : | |
| Number of Pages | : | 133 Pages |
| Publish Date | : | 2017-01-17 |
| Language | : | English |
DESCRIPTION:
"A book which helps perfect skills as a financial analyst" according to Alastair MacAndrew. A very good book indeed. Perhaps there is no better book for anyone wanting to learn or perfect their skills as a financial analyst. Damodaran is an apostle of the DCF method for valuing companies and stocks, and shuns P/Es and other relative valuations. The book is excellent at describing the process from A to Z of understanding a company and framing a numerical analysis within a comprehensive story of what the company is and where it is headed. The author provides many and very good examples of how to approach this, and offers a very goo. Prof. Damodaran's magnum opus Jonathan Prior to 'Narrative and Numbers', I had the pleasure of being able to read 'Investment Valuation', 'The Little Book of Valuation', and 'The Dark Side of Valuation'.This book will not teach you how to be a better storyteller or a mathematician, but it will point you in the right direction. 'Narrative and Numbers' will help everyone to balance their brain hemispheres, and in my view, this is Prof. Damodaran's magnum opus.. "Good read with a decent amount of narrative" according to Ben Sayer. There's nothing absolutely revolutionary in this book. But this an accessible book which reiterates fundamental principles of valuation and investing.
(Paul Johnson, Nicusa Investment Advisors)Professor Damodaran's point-counterpoint case studies make valuation a good read. Damodaran's success in combining storytelling with traditional financial analysis and valuation is unprecedented. After Damodaran's eye-opening tour, you will forever appreciate the vital contribution of human nature to number-crunching. The author takes us on his personal journey into the realization that numbers need a narrative in order to make them persuasive. Damodaran nicely weaves stories into the more formal quantitative analysis, with check and balances that yield a more confident valuation. He may have started as a quant, but Damodaran's now one of the most balanced analystsand wonderful business and financial storytellerswriting and teaching today. Self-critical in his contemporary examples, he wisely cautions the reader that quality valuation requires both the right and the left sid
Damodaran considers Uber’s debut and how narrative is key to understanding different valuations. Both are essential to success, but only by combining the two, Damodaran argues, can a business deliver and sustain value.Through a range of case studies, Narrative and Numbers describes how storytellers can better incorporate and narrate numbers and how number-crunchers can calculate more imaginative models that withstand scrutiny. He investigates why Twitter and Facebook were valued in the billions of dollars at their public offerings, and why one (Twitter) has stagnated while the other (Facebook) has grown. How can a company that has never turned a profit have a multibillion dollar valuation? Why do some start-ups attract large investments while others do not? Aswath Damodaran, finance professor and experienced investor, argues that the power of story drives corporate value, adding substance to numbers and persuading even cautious investors to take risks. And through Vale, a global Brazil-based mining company, he shows the influence of external narrative, and how country, commodity, and currency can shape a company’s story. Narrative and Numbers reveals the benefits, challenges, and pitfalls of weaving narratives around
He is the author of Applied Corporate Finance, Fourth Edition (2014), Investment Valuation: Tools and Techniques for Determining the Value of Any Asset, Third Edition (2012), The Little Book of Valuation: How to Value a Company, Pick a Stock and Profit (2011), and Damodaran on Valuation: Security Analysis for Investment and Corporate Finance, Second Edition (2006).