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The three most widely used methods to determine discounts for lack of marketability are (a) the use of restricted stock studies, (2) the use of Pre-IPO studies, and (3) the QMDM. With Courts having rejected restricted stock study "average" discounts, pre-IPO studies, and the QMDM, what's an appraiser to do.
This Teleconference included three leading experts, Espen Robak, Brian Pearson, and Chris Mercer, who are staunch defenders of one of the above approaches, respectively. Lance Hall, who has his own biases, will act as a partial moderator.
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