The newest resource for developing cost of equity capital estimates has arrived. The inputs to cost of capital have become so complex that the risk of making errors has increased greatly. This new cost-effective resource from BVR integrates data from multiple sources, including University of Chicago’s Center for Research in Security Prices (CRSP) data, Professor Aswath Damodaran’s data resources, and the U.S. Federal Reserve on Treasury bond yields. The philosophy behind the resource is to provide valuation practitioners with an independent, economical, and transparent platform that empowers users to make professional judgements while avoiding the illusion of precision from overcomplicated mathematics. Join the author of the cost of capital platform, Dr. Michael Crain, CPA/ABV, CFA, a practitioner for over 30 years before joining Florida Atlantic University, and Ron Seigneur, CPA/ABV, ASA CVA, co-chair of the Advisory Board, for a conceptual overview and practical demo.
Program Agenda
Cost of capital fundamentals
Why simpler is often better
Why professional judgment still matters
Data sources
CRSP data foundation
Risk free rate
User overrides
Damodaran betas
Unsystematic risk
Cost of Capital Professional Demo
Accessing the resource
Setting up a new project
Data choices
Saving and retrieving work product
Where do we go from here
Advisory Panel- who and why
How to get free access to 2018 data
2019 data: how and when you can access
Learning Objectives
Explain the illusion of precision from complicated mathematics
Identify when the best one can do in some domains is make estimates
Explain how the new resource can help valuation practitioners be more effective
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