Date: Wednesday, May 31, 2017
10:00am-11:40am PT / 1:00pm-2:40pm ET
Format: A BVR Webinar

Earn 2 CPE credits
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Featuring  (click image for bio)

Aswath Damodaran
Stern School of Business, New York University

About This Program

The world of valuation, investing and finance is divided into two camps. In one, you have the number crunchers, who believe that the only things that matter are the numbers and that imagination and creativity are dangerous distractions. In the other, you have the story tellers, who build on the stories they tell about companies and how these stories will bring untold wealth. Each side believes it has a monopoly on the truth and looks with contempt at the other. Join this session with Aswath Damodaran to learn why, in his view, both sides are right and both sides are wrong. Stories matter, but only if they are connected with numbers, and numbers are empty, unless they are connected with narratives. In this session, learn the process by which you build narratives, check them against reality, and convert them into valuations with real world examples to illustrate the process.


  • The delusions of the number crunchers
  • The delusions of the story tellers
  • Bridging the gap
  • Building a valuation
  • From story to numbers: The steps
    • Step 1: Survey the landscape
    • Step 2: Create a narrative for the future
    • Step 3: Check the narrative against history, economic first principles & common sense
    • Step 4: Connect your narrative to key drivers of value
    • Step 5: Keep the feedback loop open

    Learning Objectives

    • How to tell a business story
    • How to check whether a story is possible, plausible and probable
    • How to connect a story to valuation inputs and a valuation
    • How to reverse engineer a story from a discounted cash flow valuation
    • How to keep the feedback loop open for changes, additions and corrections to the story/valuation

Single Connection Policy

Admission to this event authorizes one computer and phone connection for one location. These connections may be transferred users and/or locations. Multiple concurrent connections for a single admission registration are not allowed.

Multi-User CPE Policy

Admission to this program includes one CPE certificate for one individual. Any additional listeners requesting CPE must pay a processing fee assessed at the completion of the online CE survey for this course.

CPE Processing Fees may be bypassed by entering a valid, unused CPE Authorization Code (for single event purchasers) or by logging into BVR's website (for subscribers to BVR's Training Series).

CPE Information

Prerequisites: Knowledge of Business Valuation
Program Level: Advanced
Preparation Required: None
Delivery Method: Group Internet-Based
Recommended CPE: 2 Credit Hours (Specialized Knowledge & Applications)

Business Valuation Resources is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
NASBA Sponsor

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