75 Best Valuation Books of All Time
We've researched and ranked the best valuation books in the world, based on recommendations from world experts, sales data, and millions of reader ratings. Learn more
1
Ray Dalio, one of the world’s most successful investors and entrepreneurs, shares the unconventional principles that he’s developed, refined, and used over the past forty years to create unique results in both life and business—and which any person or organization can adopt to help achieve their goals.
In 1975, Ray Dalio founded an investment firm, Bridgewater Associates, out of his two-bedroom apartment in New York City. Forty years later, Bridgewater has made more money for its clients than any other hedge fund in history and grown into the fifth most important private... more
In 1975, Ray Dalio founded an investment firm, Bridgewater Associates, out of his two-bedroom apartment in New York City. Forty years later, Bridgewater has made more money for its clients than any other hedge fund in history and grown into the fifth most important private... more
Mark CubanThe book I wish I had as a young entrepreneur. (Source)
Tony RobbinsI found it to be truly extraordinary. Every page is full of so many principles of distinction and insights—and I love how Ray incorporates his history and his life in such an elegant way. (Source)
Bill GatesRay Dalio has provided me with invaluable guidance and insights that are now available to you in Principles. (Source)
2
Investment Valuation
Tools and Techniques for Determining the Value of Any Asset
Valuation is at the heart of every investment decision, whether that decision is to buy, sell, or hold. But the pricing of any financial asset has become a more complex task in modern financial markets. Now completely revised and fully updated to reflect changing market conditions, Investment Valuation, Second Edition, provides expert instruction on how to value virtually any type of asset-stocks, bonds, options, futures, real assets, and much more.
Noted valuation authority and acclaimed NYU... more
Tools and Techniques for Determining the Value of Any Asset
Valuation is at the heart of every investment decision, whether that decision is to buy, sell, or hold. But the pricing of any financial asset has become a more complex task in modern financial markets. Now completely revised and fully updated to reflect changing market conditions, Investment Valuation, Second Edition, provides expert instruction on how to value virtually any type of asset-stocks, bonds, options, futures, real assets, and much more.
Noted valuation authority and acclaimed NYU... more
3
Hailed by financial professionals worldwide as the single best guide of its kind, Valuation, Fourth Edition is thoroughly revised and expanded to reflect business conditions in today's volatile global economy. Valuation provides up-to-date insights and practical advice on how to create, manage, and measure an organization's value. Along with all-new case studies that illustrate how valuation techniques and principles are applied in real-world situations, this comprehensive guide has been updated to reflect the events of the Internet bubble and its effect on stock markets, new... more
4
One of Silicon Valley’s most successful angel investors shares his rules for investing in startups.
There are two ways to make money in startups: create something valuable—or invest in the people that are creating valuable things.
Over the past twenty-five years, Jason Calacanis has made a fortune investing in creators, spotting and helping build and fund a number of successful technology startups—investments that have earned him tens of millions of dollars. Now, in this enlightening guide that is sure to become the bible for twenty-first century investors, Calacanis... more
There are two ways to make money in startups: create something valuable—or invest in the people that are creating valuable things.
Over the past twenty-five years, Jason Calacanis has made a fortune investing in creators, spotting and helping build and fund a number of successful technology startups—investments that have earned him tens of millions of dollars. Now, in this enlightening guide that is sure to become the bible for twenty-first century investors, Calacanis... more
Brad FeldAngel: How to Invest in Technology Startups – Timeless Advice from an Angel Investor Who Turned $100,000 into $100,000,000: I met Jason Calacanis in the mid-1990s when he was peddling his Silicon Alley Reporter magazine. We’ve been friends ever since and I give him a big hug whenever our paths cross. He’s his normal outspoken and bombastic self in this book, which has lots of gems buried in it. I... (Source)
Matthew StaffordGreat book. https://t.co/8fMVjYzIz9 (Source)
Jonah Lupton@Jason The Angel book and podcast are two of my all time favorites. I’ve listened to the book twice on audible. Tons of great advice for every aspiring angel investor. https://t.co/Gp2zQMIkNs (Source)
5
In the constantly evolving world of finance, a solid technical foundation is an essential tool for success. Due to the fast-paced nature of this world, however, no one has been able to take the time to properly codify the lifeblood of the corporate financier's work--namely, valuation. Rosenbaum and Pearl have responded to this need by writing the book that they wish had existed when they were trying to break into Wall Street. Investment Banking: Valuation, Leveraged Buyouts, and Mergers & Acquisitions is a highly accessible and authoritative book that focuses on the primary... more
6
This well-thought-out training regimen begins with an in-depth look at the necessary tools of the trade including your scanner, software and platform; and then moves to practical advice on subjects such as how to find the right stocks to trade, how to define support and resistance levels, and how to best manage your trades in the stress of the moment. An extensive review of proven trading strategies follows, all amply illustrated with real examples from recent trades. Risk management is addressed including tips on how to determine proper entry, profit targets and stop losses. Lastly, to bring... more
8
"Aswath Damodaran is simply the best valuation teacher around. If you are interested in the theory or practice of valuation, you should have Damodaran on Valuation on your bookshelf. You can bet that I do."
-- Michael J. Mauboussin, Chief Investment Strategist, Legg Mason Capital Management and author of More Than You Know: Finding Financial Wisdom in Unconventional Places In order to be a successful CEO, corporate strategist, or analyst, understanding the valuation process is a necessity. The second edition of Damodaran on Valuation stands out as the most reliable book for... more
-- Michael J. Mauboussin, Chief Investment Strategist, Legg Mason Capital Management and author of More Than You Know: Finding Financial Wisdom in Unconventional Places In order to be a successful CEO, corporate strategist, or analyst, understanding the valuation process is a necessity. The second edition of Damodaran on Valuation stands out as the most reliable book for... more
9
Entrepreneurs have a problem: startups. Almost all startups either fail or never truly reach a sustainable size. Despite the popularity of entrepreneurship, we haven't engineered a better way to start. ...Until now.What if you could skip the startup phase and generate profitable revenue on day one?In Buy Then Build, acquisition entrepreneur Walker Deibel shows you how to begin with a sustainable, profitable company and grow from there. You'll learn how to: ● Buy an existing company rather than starting from scratch● Use ownership as a path to financial independence● Spend a fraction of the... more
10
Are you looking for an alternative career path at a big firm? Does founding your own start-up seem too risky? There is a radical third path open to you. You can buy a small business and run it as CEO. Purchasing a small company offers significant financial rewards - as well as personal and professional fulfillment. Leading a firm means you can be your own boss, put your executive skills to work, fashion a company environment that meets your own needs, and profit directly from your success.
'HBR GUIDE TO BUYING A SMALL BUSINESS, Harvard Business school professors Richard Ruback and... more
'HBR GUIDE TO BUYING A SMALL BUSINESS, Harvard Business school professors Richard Ruback and... more
Don't have time to read the top Valuation books of all time? Read Shortform summaries.
Shortform summaries help you learn 10x faster by:
- Being comprehensive: you learn the most important points in the book
- Cutting out the fluff: you focus your time on what's important to know
- Interactive exercises: apply the book's ideas to your own life with our educators' guidance.
12
World-class valuation and transaction models to complement the global best-selling guide to investment banking
Five valuation models templates along with completed versions are accessible for purchase and use--downloadable in electronic format on the book's website, www.wiley.com/go/investmentbanking2e. Each model comes complete with a user's guide.
The models includeComparable Companies AnalysisPrecedent Transactions AnalysisDiscounted Cash Flow AnalysisLeverage Buyout... more
Five valuation models templates along with completed versions are accessible for purchase and use--downloadable in electronic format on the book's website, www.wiley.com/go/investmentbanking2e. Each model comes complete with a user's guide.
The models includeComparable Companies AnalysisPrecedent Transactions AnalysisDiscounted Cash Flow AnalysisLeverage Buyout... more
13
Billed as the "biggest, most useful Red Book ever," the Deluxe Edition measures 7 x 10 inches and has 1,504 pages. The larger size and increased page count combined make the Deluxe Edition five times bigger than the regular-edition Red Book. It prices 8,018 items in up to 12 grades each, with 50,205 individual values and 16,667 auction records covering circulated, Mint State, and Proof coinage. The book is illustrated with 5,753 images.
The Deluxe Edition covers American coinage from New England colonial times to the modern day--half cents through $20 gold double... more
The Deluxe Edition covers American coinage from New England colonial times to the modern day--half cents through $20 gold double... more
14
An accessible, and intuitive, guide to stock valuation Valuation is at the heart of any investment decision, whether that decision is to buy, sell, or hold. In The Little Book of Valuation, expert Aswath Damodaran explains the techniques in language that any investors can understand, so you can make better investment decisions when reviewing stock research reports and engaging in independent efforts to value and pick stocks.
Page by page, Damodaran distills the fundamentals of valuation, without glossing over or ignoring key concepts, and develops models that you can easily... more
Page by page, Damodaran distills the fundamentals of valuation, without glossing over or ignoring key concepts, and develops models that you can easily... more
16
*The comprehensive guide to valuing technology companies *Projections for future revenues, earnings, cash flows, the impact of stock options, and more *5 detailed case studies cover the entire tech lifecycle: Amazon.com, Ariba, Cisco, Motorola, and a new IPO *Presented by one of the worlds leading experts in valuation *State-of-the-art tools for assessing the value of any technology company Technology companies have exploded in importance, yet investors and analysts face unprecedented challenges in valuing them. In The Dark Side of Valuation, one of the worlds leading valuation experts... more
18
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. In business, there are the storytellers who spin compelling narratives and the number-crunchers who construct meaningful models and accounts. Both are essential to success, but only by combining the two, Damodaran argues, can a business deliver... more
19
For goldsmiths, collectors, jewelry-makers, investors, retailers and consumers.
The trade of gemstones is a highly specialized and often secretive business. Using The Jeweler's Directory of Gemstones, written by an expert gemstone dealer and designer, will provide any consumer with the insider knowledge needed to make accurate judgments of gemstones, to recognize low- and high-quality stones, and to make a good buy rather than a bad one.
Each full-color spread is packed with concise text, annotated drawings and beautiful photographs, including a showcase of... more
The trade of gemstones is a highly specialized and often secretive business. Using The Jeweler's Directory of Gemstones, written by an expert gemstone dealer and designer, will provide any consumer with the insider knowledge needed to make accurate judgments of gemstones, to recognize low- and high-quality stones, and to make a good buy rather than a bad one.
Each full-color spread is packed with concise text, annotated drawings and beautiful photographs, including a showcase of... more
20
"All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as self-evident." --Arthur Schopenhauer
The Ponzi Factor is the most comprehensive research ever compiled on the negative-sum nature of capital gains (non-dividend stocks). The book shows why, as a whole, ALL investors will lose money from buying and selling stocks.
Most people don’t realize that profits from buying and selling stocks come from other investors who are also buying and selling stocks. When one investor buys low and sells high, another... more
The Ponzi Factor is the most comprehensive research ever compiled on the negative-sum nature of capital gains (non-dividend stocks). The book shows why, as a whole, ALL investors will lose money from buying and selling stocks.
Most people don’t realize that profits from buying and selling stocks come from other investors who are also buying and selling stocks. When one investor buys low and sells high, another... more
Don't have time to read the top Valuation books of all time? Read Shortform summaries.
Shortform summaries help you learn 10x faster by:
- Being comprehensive: you learn the most important points in the book
- Cutting out the fluff: you focus your time on what's important to know
- Interactive exercises: apply the book's ideas to your own life with our educators' guidance.
21
Praise for How to Measure Anything: Finding the Value of Intangibles in Business
"I love this book. Douglas Hubbard helps us create a path to know the answer to almost any question in business, in science, or in life . . . Hubbard helps us by showing us that when we seek metrics to solve problems, we are really trying to know something better than we know it now. How to Measure Anything provides just the tools most of us need to measure anything better, to gain that insight, to make progress, and to succeed."
-Peter Tippett, PhD, M.D.
Chief Technology Officer at... more
"I love this book. Douglas Hubbard helps us create a path to know the answer to almost any question in business, in science, or in life . . . Hubbard helps us by showing us that when we seek metrics to solve problems, we are really trying to know something better than we know it now. How to Measure Anything provides just the tools most of us need to measure anything better, to gain that insight, to make progress, and to succeed."
-Peter Tippett, PhD, M.D.
Chief Technology Officer at... more
Julia Galef[Has] some good advice on how to improve your ability to make accurate predictions. (Source)
Nick GanjuAbout being outcome-based and getting these measurable outcomes. (Source)
22
A vital companion to the #1 best-selling guide to corporate valuationValuation Workbook is the ideal companion to McKinsey's Valuation, helping you get a handle on difficult concepts and calculations before using them in the real world. This workbook reviews all things valuation, with chapter-by-chapter summaries and comprehensive questions and answers that allow you to test your knowledge and skills. Useful both in the classroom and for self-study, this must-have guide is essential for reviewing and applying the renowned McKinsey & Company approach to valuation and... more
23
Modern economies reward activities that extract value rather than create it. This must change to insure a capitalism that works for us all.
In this scathing indictment of our current global financial system, The Value of Everything rigorously scrutinizes the way in which economic value has been determined and reveals how the difference between value creation and value extraction has become increasingly blurry. Mariana Mazzucato argues that this blurriness allowed certain actors in the economy to portray themselves as value creators, while in reality they were just... more
In this scathing indictment of our current global financial system, The Value of Everything rigorously scrutinizes the way in which economic value has been determined and reveals how the difference between value creation and value extraction has become increasingly blurry. Mariana Mazzucato argues that this blurriness allowed certain actors in the economy to portray themselves as value creators, while in reality they were just... more
Recommended by Pia Mancini, and 1 others. Pia Mancini@soulafloat @MazzucatoM @ValeriaLuiselli @MazzucatoM's one is great book! Super insightful. I'll add @ValeriaLuiselli to my list! Thank you (Source)
24
Crack the Funding Code demystifies the world of angel investing, venture capital, and corporate funding and lays out a strategic pathway for any entrepreneur to secure funding fast.
Lack of funding is one of the biggest reasons small businesses fail. In 2016 in the United States alone, more than 31 percent of small business owners reported that they could not access adequate capital, and the lack of capital prevented them from growing the business/expanding operations, increasing inventory, or financing increased sales.
Most business owners... more
Lack of funding is one of the biggest reasons small businesses fail. In 2016 in the United States alone, more than 31 percent of small business owners reported that they could not access adequate capital, and the lack of capital prevented them from growing the business/expanding operations, increasing inventory, or financing increased sales.
Most business owners... more
25
Accounting for Value teaches investors and analysts how to handle accounting in evaluating equity investments. The book's novel approach shows that valuation and accounting are much the same: valuation is actually a matter of accounting for value.
Laying aside many of the tools of modern finance--the cost-of-capital, the CAPM, and discounted cash flow analysis--Stephen Penman returns to the common-sense principles that have long guided fundamental investing: price is what you pay but value is what you get; the risk in investing is the risk of paying too much; anchor on what... more
Laying aside many of the tools of modern finance--the cost-of-capital, the CAPM, and discounted cash flow analysis--Stephen Penman returns to the common-sense principles that have long guided fundamental investing: price is what you pay but value is what you get; the risk in investing is the risk of paying too much; anchor on what... more
26
The marketplace for small and midsize businesses is messy. Having peeked behind the curtain at over 10,000 companies, this book aims to demystify the buyers, the process, and the inevitably emotional journey that is selling a company.
Read it. Reference it. Share it.
Think about what outcomes are important to you and why. Here's a cheat sheet:
I want between $__________ and $___________ of cash as a financial result. (You'll have to pay off debt, taxes, and transaction costs. Also, something is only worth what someone is willing to pay for it.) I want to... more
Read it. Reference it. Share it.
Think about what outcomes are important to you and why. Here's a cheat sheet:
I want between $__________ and $___________ of cash as a financial result. (You'll have to pay off debt, taxes, and transaction costs. Also, something is only worth what someone is willing to pay for it.) I want to... more
27
The economic climate is ripe for another golden age of shareholder activism
Deep Value: How Shareholder Activist Hedge Funds Battle for Control of The World's Leading Corporations is a must-read exploration of deep value investment strategy, describing the evolution of the theories of valuation and shareholder activism from Graham to Icahn and beyond. The book combines engaging anecdotes with industry research to illustrate the principles and methods of this complex strategy, and explains the reasoning behind seemingly incomprehensible activist maneuvers. Written by an active...
more28
This new edition of the 'all in one' textbook for the postgraduate study of valuation on real estate courses retains its focus on the valuation and appraisal of commercial and industrial property across investment, development and occupier markets. It is structured from the client perspective and covers single-asset pricing, risk and return issues.
The structure of the book has been substantially revised. Part A introduces the key microeconomic principles, focussing on land as a resource, production functions, supply and demand and price determination. The locational aspect of real... more
The structure of the book has been substantially revised. Part A introduces the key microeconomic principles, focussing on land as a resource, production functions, supply and demand and price determination. The locational aspect of real... more
29
In this groundbreaking book, national bestselling author Adam Baratta unveils the dark truth about the Federal Reserve, their suppression of gold, and why every American businessperson needs to understand how this will impact their quality of life. The Great Devaluation is about the imminent and future failure of the global monetary system. It covers the history of The Federal Reserve, how it was formed, why it was formed, and the secretive nature of the independent institution. The book also highlights how going off of the gold standard has facilitated the long-term devaluation of the... more
30
Provides a revolutionary conceptual framework and practical tools to quantify uncertainty and recognize the value of flexibility in real estate development
This book takes a practical "engineering" approach to the valuation of options and flexibility in real estate. It presents simple simulation models built in universal spreadsheet software such as Microsoft Excel(R). These realistically reflect the varying and erratic sources of uncertainty and price dynamics that uniquely characterize real estate. The text covers new analytic procedures that are valuable for existing... more
This book takes a practical "engineering" approach to the valuation of options and flexibility in real estate. It presents simple simulation models built in universal spreadsheet software such as Microsoft Excel(R). These realistically reflect the varying and erratic sources of uncertainty and price dynamics that uniquely characterize real estate. The text covers new analytic procedures that are valuable for existing... more
Don't have time to read the top Valuation books of all time? Read Shortform summaries.
Shortform summaries help you learn 10x faster by:
- Being comprehensive: you learn the most important points in the book
- Cutting out the fluff: you focus your time on what's important to know
- Interactive exercises: apply the book's ideas to your own life with our educators' guidance.
31
Term Sheets & Valuations is the first ever in-depth look at the nuts and buts of terms sheets and valuations. The book, written by leading venture capitalist Alexander Wilmerding of Boston Capital Ventures, covers topics such What is a Term Sheet, How to Examine a Term Sheet, A Section-by-Section View of a Term Sheet, Valuations, What Every Entrepreneur & Executive Needs to Know About Term Sheets, Valuation Parameters, and East Coast Versus West Coast Rules. In addition, the book includes an actual term sheet from a leading law firm with line by line descriptions of each clause, what... more
Recommended by Nir Eyal, and 1 others. 32
This book was first printed in 1938, having been written as a Ph.D. thesis at Harvard in 1937. Our good friend, Peter Bernstein mentioned this book several times in his excellent Capital Ideas which was published in 1992. Why the book is interesting today is that it still is important and the most authoritative work on how to value financial assets. As Peter says: "Williams combined original theoretical concepts with enlightening and entertaining commentary based on his own experiences in the rough-and-tumble world of investment." Williams' discovery was to project an estimate that offers... more
33
The goal of this guide is to help you understand the key moving parts of a startup cap table, review typical cap table inputs, and demystify terminology and jargon associated with cap table discussions. Along the way, this highly visual guide provides easy-to-follow examples for the most common calculations related to cap table building.
Expanding on these key skills every startup founder should know, this Founder's Pocket Guide helps you learn how to:
Build your basic cap table step by step, including founder's... more
Expanding on these key skills every startup founder should know, this Founder's Pocket Guide helps you learn how to:
Build your basic cap table step by step, including founder's... more
34
“How do we split the equity ownership of our startup?”
This guide provides a framework and process to help startup founders answer this common question.
Equity ownership affects the culture and sense of wellbeing of a startup. Founders typically sacrifice a great deal of life opportunities to work on a startup effort. In exchange for that sacrifice, a founder wants to feel the ownership equation with any co-founders is fair.
In detail, this Founder’s Pocket Guide walks entrepreneurs though the following elements:
• Take The Founder Test to make... more
This guide provides a framework and process to help startup founders answer this common question.
Equity ownership affects the culture and sense of wellbeing of a startup. Founders typically sacrifice a great deal of life opportunities to work on a startup effort. In exchange for that sacrifice, a founder wants to feel the ownership equation with any co-founders is fair.
In detail, this Founder’s Pocket Guide walks entrepreneurs though the following elements:
• Take The Founder Test to make... more
35
An accessible guide to the essential issues of corporate finance While you can find numerous books focused on the topic of corporate finance, few offer the type of information managers need to help them make important decisions day in and day out.
Value explores the core of corporate finance without getting bogged down in numbers and is intended to give managers an accessible guide to both the foundations and applications of corporate finance. Filled with in-depth insights from experts at McKinsey & Company, this reliable resource takes a much more qualitative... more
Value explores the core of corporate finance without getting bogged down in numbers and is intended to give managers an accessible guide to both the foundations and applications of corporate finance. Filled with in-depth insights from experts at McKinsey & Company, this reliable resource takes a much more qualitative... more
36
Investment Banking WORKBOOK is the ideal complement to Investment Banking, Valuation, Leveraged Buyouts, and Mergers & Acquisitions, Second Edition, enabling you to truly master and refine the core skills at the center of the world of finance. This comprehensive study guide provides an invaluable opportunity to explore your understanding of the strategies and techniques covered in the main text, before putting them to work in real-world situations.
The WORKBOOK--which parallels the main book chapter by chapter--contains over 400 problem-solving... more
The WORKBOOK--which parallels the main book chapter by chapter--contains over 400 problem-solving... more
37
Pessimists see "distressed" M&A . . .
Optimists see distressed "M&A"
Opportunities abound in "bankruptcy beauties"--both in good times and bad. Distressed mergers and acquisitions used to be the domain of a handful of specialists, who generated handsome profits by unlocking value in troubled companies. Now, you can learn the secrets for participating in these deals with knowledge and confidence. "The Art of Distressed M&A" provides the critical information needed to manage the unique complexities of buying, selling, and financing troubled companies.
more
Optimists see distressed "M&A"
Opportunities abound in "bankruptcy beauties"--both in good times and bad. Distressed mergers and acquisitions used to be the domain of a handful of specialists, who generated handsome profits by unlocking value in troubled companies. Now, you can learn the secrets for participating in these deals with knowledge and confidence. "The Art of Distressed M&A" provides the critical information needed to manage the unique complexities of buying, selling, and financing troubled companies.
more
Don't have time to read the top Valuation books of all time? Read Shortform summaries.
Shortform summaries help you learn 10x faster by:
- Being comprehensive: you learn the most important points in the book
- Cutting out the fluff: you focus your time on what's important to know
- Interactive exercises: apply the book's ideas to your own life with our educators' guidance.
41
Valuation is the single best guide of its kind, helping financial professionals worldwide excel at measuring, managing, and maximizing shareholder and company value. This new seventh edition provides insights on the strategic advantages of value-based management, complete detailed instruction, and nuances managers should know about valuation and valuation techniques as applied to different industries, emerging markets, and other special situations. less
42
This easy to follow guide helps startup founders understand the key moving parts of an investment term sheet, and review typical preferred share rights, preferences, and protections. Along the way, we also provide easy-to-follow examples for the most common calculations related to preferred share equity deals.
Expanding on these fundraising concepts, this Founder's Pocket Guide helps startup founders learn:
What a term sheet is and how to summarize the most important deal terms for your fundraising and startup... more
Expanding on these fundraising concepts, this Founder's Pocket Guide helps startup founders learn:
What a term sheet is and how to summarize the most important deal terms for your fundraising and startup... more
43
The essential guide to selling your business—and walking away with maximum wealth
Nearly every entrepreneur dreams of one day selling their business for big bucks, but far too many aren’t aware of exactly what it takes to do so. The sobering truth is that it’s very easy for the entrepreneurs who don’t know what they’re doing to walk away from a sale without the financial freedom they hoped for. In fact, only about 20 percent of businesses for sale will successfully transfer to another owner!
In Walk Away Wealthy, Mark Tepper--a leading authority on wealth... more
Nearly every entrepreneur dreams of one day selling their business for big bucks, but far too many aren’t aware of exactly what it takes to do so. The sobering truth is that it’s very easy for the entrepreneurs who don’t know what they’re doing to walk away from a sale without the financial freedom they hoped for. In fact, only about 20 percent of businesses for sale will successfully transfer to another owner!
In Walk Away Wealthy, Mark Tepper--a leading authority on wealth... more
44
Critical insights for savvy financial analysts
Financial Planning & Analysis and Performance Management is the essential desk reference for CFOs, FP&A professionals, investment banking professionals, and equity research analysts. With thought-provoking discussion and refreshing perspective, this book provides insightful reference for critical areas that directly impact an organization's effectiveness. From budgeting and forecasting, analysis, and performance management, to financial communication, metrics, and benchmarking, these insights delve into the... more
Financial Planning & Analysis and Performance Management is the essential desk reference for CFOs, FP&A professionals, investment banking professionals, and equity research analysts. With thought-provoking discussion and refreshing perspective, this book provides insightful reference for critical areas that directly impact an organization's effectiveness. From budgeting and forecasting, analysis, and performance management, to financial communication, metrics, and benchmarking, these insights delve into the... more
45
Award-winning book that recently earned acclaim from the prestigious Next Generation Indie Book Awards! Blue Ink Review Notable Book and Readers' Favorite 5 Stars! Wall Street doesn't know it has a problem. Index and quantitative investors have been free-riding on the backs of active managers for years, but growth in price-agnostic trading may finally have reached the tipping point. Brian Nelson, former Director of Methodology at Morningstar and President of Investment Research at Valuentum, explains how enterprise valuation forms the Theory of Universal Valuation and why a focus on it may... more
47
Determine a company's value, what drives it, and how to enhance value during a M&A
Valuation for M&A lays out the steps for measuring and managing value creation in non-publicly traded entities, and helps investors, executives, and their advisors determine the optimum strategy to enhance both market value and strategic value and maximize return on investment.
As a starting point in planning for a transaction, it is helpful to compute fair market value, which represents a "floor" value for the seller since it by definition represents a value agreed... more
Valuation for M&A lays out the steps for measuring and managing value creation in non-publicly traded entities, and helps investors, executives, and their advisors determine the optimum strategy to enhance both market value and strategic value and maximize return on investment.
As a starting point in planning for a transaction, it is helpful to compute fair market value, which represents a "floor" value for the seller since it by definition represents a value agreed... more
48
Capital Raising is written to help those looking to consistently raise capital over time from investors without having to cold call them or slowly network through existing connections. In this text we provide a 5 step system to attract investors to your offering over time so they are wanting to get their foot in the door at your office instead of having to cold call potential investors endlessly with no response. While this book does discuss marketing material fundamentals, and top mistakes to avoid while raising capital its unique value is in the holistic evergreen approach to building up... more
49
Mastering corporate finance is a lot easier than you think.
Business school textbooks are notoriously dry, static, and filled with confusing acronyms. The Wall Street MBA takes a different approach by presenting a succinct "crash course," breaking down the main concepts of MBA finance and accounting programs to provide the information and insight you need to:
-Review financial statements-Analyze earnings-Detect fraud-Value companies-Determine the cost of capital
Fully updated and revised, this new edition will also get you up to speed on important... more
Business school textbooks are notoriously dry, static, and filled with confusing acronyms. The Wall Street MBA takes a different approach by presenting a succinct "crash course," breaking down the main concepts of MBA finance and accounting programs to provide the information and insight you need to:
-Review financial statements-Analyze earnings-Detect fraud-Value companies-Determine the cost of capital
Fully updated and revised, this new edition will also get you up to speed on important... more
50
Praise for Private Capital Markets
Valuation, Capitalization, and Transfer of Private Business Interests
SECOND EDITION
"In the years since publication of the first edition of Private Capital Markets, the concepts and ideas that it presents have been widely accepted by progressive members of the business valuation community. Now with the Second Edition, author Rob Slee has included empirical data on capital markets for midsized businesses. This book remains a must for everyone involved in appraising, buying,... more
Valuation, Capitalization, and Transfer of Private Business Interests
SECOND EDITION
"In the years since publication of the first edition of Private Capital Markets, the concepts and ideas that it presents have been widely accepted by progressive members of the business valuation community. Now with the Second Edition, author Rob Slee has included empirical data on capital markets for midsized businesses. This book remains a must for everyone involved in appraising, buying,... more
Don't have time to read the top Valuation books of all time? Read Shortform summaries.
Shortform summaries help you learn 10x faster by:
- Being comprehensive: you learn the most important points in the book
- Cutting out the fluff: you focus your time on what's important to know
- Interactive exercises: apply the book's ideas to your own life with our educators' guidance.
51
WHY THIS BOOK? This book spans the void between the abstract theoretical treatment of equity valuation and the practical problem of valuing an actual company using real-world data. We give serious treatment to the underlying theory of financial analysis and valuation, but our main goal is to be able to arrive at a pragmatic answer to the important question, "what is this company really worth?" To answer this question, we adopt a different approach from other textbooks. The key differences can be summarized as follows:
1.Our focus is on generating good financial statement... more
1.Our focus is on generating good financial statement... more
52
This book has been written after years of investment banking experience and it is intended as a useful and practical guide for both students and professionals, encompassing best practice, practical examples, advice and generally adopted methodologies that can be used as part of valuation analysis. It covers the theoretical principles of the valuation methodologies but with a strong focus on pointing out the key pros and cons of the various methodologies available, noting that different methodologies may be applied to different scenarios.
Any valuation involves a number of... more
Any valuation involves a number of... more
54
This book aims to overcome the limitations the variations in bank-specifics impose by providing a bank-specific valuation theoretical framework and a new asset-side model. The book includes also a constructive comparison of equity and asset side methods. The authors present a novel framework entitled, the Asset Mark-down Model . This method incorporates an Adjusted Present Value model, which allows practitioners to identify the main value creation sources of a particular bank: from asset-based cash flow and the mark-down on deposits, to tax benefits on bearing liabilities. Through the... more
55
Executives, investors, and the business press routinely chant the mantra that corporations are required to “maximize shareholder value.” In this pathbreaking book, renowned corporate expert Lynn Stout debunks the myth that corporate law mandates shareholder primacy. Stout shows how shareholder value thinking endangers not only investors but the rest of us as well, leading managers to focus myopically on short-term earnings; discouraging investment and innovation; harming employees, customers, and communities; and causing companies to indulge in reckless, sociopathic, and irresponsible... more
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Beyond Earnings is targeted at investors, financial professionals, and students who want to improve their ability to analyze financial statements, forecast cash flows, and ultimately value a company. The authors demonstrate that reported earnings are easily gamed by accounting shenanigans and reveal how commonly used profitability measures such as return on equity can be misleading.
Because earnings and P/E ratios are too unreliable for valuation, this book takes you beyond earnings and shows you how to apply the HOLT CFROI and Economic Profit framework in a step-by-step... more
Because earnings and P/E ratios are too unreliable for valuation, this book takes you beyond earnings and shows you how to apply the HOLT CFROI and Economic Profit framework in a step-by-step... more
57
A comprehensive look at the enormous growth and evolution of distressed debt markets, corporate bankruptcy, and credit risk models
This Fourth Edition of the most authoritative finance book on the topic updates and expands its discussion of financial distress and bankruptcy, as well as the related topics dealing with leveraged finance, high-yield, and distressed debt markets. It offers state-of-the-art analysis and research on U.S. and international restructurings, applications of distress prediction models in financial and managerial markets, bankruptcy costs,... more
This Fourth Edition of the most authoritative finance book on the topic updates and expands its discussion of financial distress and bankruptcy, as well as the related topics dealing with leveraged finance, high-yield, and distressed debt markets. It offers state-of-the-art analysis and research on U.S. and international restructurings, applications of distress prediction models in financial and managerial markets, bankruptcy costs,... more
58
Tells how to avoid investment fads, explains the basic concepts of value-investment philosophy, and offers advice on portfolio management. less
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An insider's look at security analysis and business valuation, as practiced by Wall Street, Corporate America, and international businesses
Two major market crashes, numerous financial and accounting scandals, growth in private equity and hedge funds, Sarbanes Oxley and related regulations, and international developments changed security analysis and business valuation substantially over the last fourteen years. These events necessitated a second edition of this modern classic, praised earlier by Barron's as a "welcome successor to Graham and Dodd" and used in the global... more
Two major market crashes, numerous financial and accounting scandals, growth in private equity and hedge funds, Sarbanes Oxley and related regulations, and international developments changed security analysis and business valuation substantially over the last fourteen years. These events necessitated a second edition of this modern classic, praised earlier by Barron's as a "welcome successor to Graham and Dodd" and used in the global... more
60
Foundations of Real Estate Financial Modelling is specifically designed to provide an overview of pro forma modelling for real estate projects. The book introduces students and professionals to the basics of real estate finance theory before providing a step-by-step guide for financial model construction using Excel. The idea that real estate is an asset with unique characteristics which can be transformed, both physically and financially, forms the basis of discussion.
Individual chapters are separated by functional unit and build upon themselves to include information... more
Individual chapters are separated by functional unit and build upon themselves to include information... more
Don't have time to read the top Valuation books of all time? Read Shortform summaries.
Shortform summaries help you learn 10x faster by:
- Being comprehensive: you learn the most important points in the book
- Cutting out the fluff: you focus your time on what's important to know
- Interactive exercises: apply the book's ideas to your own life with our educators' guidance.
61
If are looking to improve your credit and take your finances to the next level, this book will show you exactly how to do just that.
Understand the journey to credit score so that you don't have to make mistakes that you'll regret in the future. No matter what stage you are in your life, you can always get it right with the right information.
Reading this book will help you GET IT RIGHT.
This book is for anyone who want to understand all aspects of the creditscore, from the differences between the various scoring models, to how they're... more
Understand the journey to credit score so that you don't have to make mistakes that you'll regret in the future. No matter what stage you are in your life, you can always get it right with the right information.
Reading this book will help you GET IT RIGHT.
This book is for anyone who want to understand all aspects of the creditscore, from the differences between the various scoring models, to how they're... more
62
This book describes valuation as an exercise in financial statement analysis. Students learn to view a firm through its financial statements and to carry out the appropriate financial statement analysis to value the firm's debt and equity. The book takes an activist approach to investing, showing how the analyst challenges the current market price of a share by analyzing the fundamentals. With a careful assessment of accounting quality, accounting comes to life as it is integrated with the modern theory of finance to develop practical analysis and valuation tools for active investing. less
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Over the last 30 years a host of new technologies have begun to change every industry driving us into a new era of human existence. The companies who have been most able to tap into these new innovations have become the most highly valued companies in the world. To do so, they have created a new approach to corporate innovation. In "Corporate Innovation in the Fifth Era," Silicon Valley insiders Matthew C. Le Merle and Alison Davis share the lessons they have learned from two decades of interaction with Alphabet, Amazon, Apple, Facebook and Microsoft as well as other leading companies. The... more
64
Deal Terms is the first ever in-depth look at valuations, preferred stock, stock options and other variables that affect deal structure, written by Alex Wilmerding (a venture capitalist at Boston Capital Ventures and best selling author of Term Sheets & Valuations). Written from a venture capital perspective, however applicable for all types of financings, Deal Terms includes actual term sheets, valuation methodology and analysis, assessment of stock option programs and their impact on valuations and capital structures and other real world documents used by leading venture capitalists and... more
65
"Mergers and acquisitions are among the most powerful and versatile growth tools employed by companies of all sizes and in all industries. A well-timed purchase or a well-planned merger can boost both the immediate financial position and the long-term outlook for your organization.
Conversely, these transactions can quickly spell your company's doom if they are not conceived and executed carefully, legally, and sensibly. Whether you're an M&A veteran or find yourself at the table for the first time, it's crucial to have an authoritative, soup-to-nuts reference to... more
Conversely, these transactions can quickly spell your company's doom if they are not conceived and executed carefully, legally, and sensibly. Whether you're an M&A veteran or find yourself at the table for the first time, it's crucial to have an authoritative, soup-to-nuts reference to... more
66
A practically-focused resource for business valuation professionals
Financial Valuation: Applications and Models provides authoritative reference and practical guidance on the appropriate, defensible way to prepare and present business valuations. With contributions by 30 top experts in the field, this new fourth edition provides an essential resource for those seeking the most up-to-date guidance, with a strong emphasis on applications and models. Coverage includes state-of-the-art methods for the valuation of closely-held businesses, nonpublic entities, intangible, and...
more
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Over the past twenty years, the private equity industry has undergone tremendous growth and sweeping changes. With the growth of private equity investing, it is imperative that financial professionals fully understand this complex subject. The cases and notes in this updated edition are designed to provide you with a better understanding of the history of the private equity industry's development and the workings of the industry today. Divided into four modules, the first examines how private equity funds are raised and structured; the second considers the interactions between private equity... more
70
This textbook will be designed for fixed-income securities courses taught on MSc Finance and MBA courses. There is currently no suitable text that offers a 'Hull-type' book for the fixed income student market. This book aims to fill this need. The book will contain numerous worked examples, excel spreadsheets, with a building block approach throughout. A key feature of the book will be coverage of both traditional and alternative investment strategies in the fixed-income market, for example, the book will cover the modern strategies used by fixed-income hedge funds. The text will be supported... more
Don't have time to read the top Valuation books of all time? Read Shortform summaries.
Shortform summaries help you learn 10x faster by:
- Being comprehensive: you learn the most important points in the book
- Cutting out the fluff: you focus your time on what's important to know
- Interactive exercises: apply the book's ideas to your own life with our educators' guidance.
71
When investors ask for a valuation, many founders choke. They stutter, stall or worse: ask the investor. The investor is puzzled. Founders can name the price for their product. Then why not for their shares? The #1 Guide to Startup Valuation hands you the tools to value your startup. You will learn:
The difference between selling your shares and raising money Why investors buy your shares The 4 building blocks of startup valuation How to value your startup if you raise money with equity How many shares you have to give away when you do a convertible How to choose between one or multiple... more
The difference between selling your shares and raising money Why investors buy your shares The 4 building blocks of startup valuation How to value your startup if you raise money with equity How many shares you have to give away when you do a convertible How to choose between one or multiple... more
73
This book will provide a comprehensive guide to investing best practices, enabling its readers to better understand the inner workings of the private equity model. This understanding might help them incorporate some approaches into their business, enhance their interaction with private equity firms or in some cases set them on the path of becoming successful private equity investors themselves. less
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A critical guide to corporate valuation modelingValuation is at the heart of everything that Wall Street does. Every day, millions of transactions to purchase or sell companies take place based on prices created by the activities of all market participants. In this book, author Keith Allman provides you with a core model to value companies.
"Corporate Valuation Modeling" takes you step-by-step through the process of creating a powerful corporate valuation model. Each chapter skillfully discusses the theory of the concept, followed by Model Builder instructions that inform you of... more
"Corporate Valuation Modeling" takes you step-by-step through the process of creating a powerful corporate valuation model. Each chapter skillfully discusses the theory of the concept, followed by Model Builder instructions that inform you of... more
75
Drawing upon recent advances in financial analysis, the authors show how to engineer the risk out of uncertain opportunities, so you can pursue more high-payoff innovations. less
Don't have time to read the top Valuation books of all time? Read Shortform summaries.
Shortform summaries help you learn 10x faster by:
- Being comprehensive: you learn the most important points in the book
- Cutting out the fluff: you focus your time on what's important to know
- Interactive exercises: apply the book's ideas to your own life with our educators' guidance.