Business Valuation Resources, LLC

Developing Discount and Cap Rates in a Troubled Economy:
New and Emerging Views on Old Issues

Date: Thursday, April 30, 2009
10:00am-11:40am PT / 1:00pm-2:40pm ET

Earn 2 CPE credits
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Featuring (click image for more information):

Ron Seigneur
Seigneur Gustafson

Don DeGrazia
Gold Gocial Gerstein, LLC

Stacy Preston Collins
Financial Research Associates

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Register for Teleconference and On Demand Pack- $339.00

Unlimited listeners can earn CPE credit at no additional charge (Click for More Information)

CPE credit is available for an unlimited number of listeners to any registered line.

To add listeners for CPE credit, contact customer service ( or (503) 291-7963) with main registrant's name, the names of the persons to receive credit, and their email addresses.

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Why you should attend:

Developing discount and capitalization rates in a changing marketplace can be tricky in the best of times.  In these “difficult” “troubled” and “desperate” economic times, however, the rules by which this process is completed are now being challenged under the microscope of irregular market conditions and unforeseen changes to the marketplace.

Hear Ron Seigneur
describe the program:

(Click to Play - Runtime: 3'35")

While many traditional models, such as CAPM, Modified CAPM, and the Build-up Model (BUM) are still full appropriate to utilize, their inputs now require extra justification.

On April 30, 2009, BVR will tackle these problems head-on with “Developing Discount and Cap Rates in a Troubled Economy: New and Emerging Views on Old Issues”, hosted by Ron Seignuer, Don DeGrazia, and Stacy Preston Collins.  Over the course of their 100-minute presentation, these three valuation experts will focus on relatively new and emerging issues that practitioners need to consider when developing their discount and capitalization rates in today's turbulent economy, exploring opportunities for practitioners to enhance their support for these key elements of the valuation process.


  • Discount and Cap Rates in the best of times: overview
  • Finding the best data: is it best to use Ibbotson/Morningstar, Duff & Phelps, or a combination of both?
  • How is the turmoil in the public markets impacting the use and validity of Beta coefficients?
  • The risk of "risk free": With effective 20 year Treasury Notes hovering roughly 3% below long term indications, is the risk free proxy still valid?
  • What can be learned from recent work on liquidity and its impact on cost of capital?
  • Nuances with the application of WACC given balance sheets with increased debt burden
  • Weighing the economic benefit stream: alternative approaches

Learning Objectives:

  • Learn how to properly develop discount and cap rates in a troubled economy
  • Understand how to assess changes in the marketplace and how to properly weigh those events
  • Apply recently learned lessons and research to any valuation
  • Understand where clarity is needed when applying traditional valuation techniques in a troubled economy
  • Learn how to apply best practices to deftly navigate through a difficult valuation


CPE Credit Information

Earn 2 Interactive CPE Credits (Consulting Services)

Business Valuation Resources, LLC 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 addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417.
NASBA Sponsor

Knowledge of Business Valuation
Program Level: Advanced
Preparation Required: None
Delivery Method: Group-Live
Recommended CPE: 2 Credit Hours

BVR's Satisfaction Guarantee:
Business Valuation Resources offers a complaint resolution and refund policy with a 100% money-back guarantee. If you are not completely satisfied with your conference experience, or have any concerns or complaints, you may contact Business Valuation Resources at (503) 291-7963 ext. 102 for a satisfactory resolution of your concern or you may submit a written request for a full refund of this program to Stephanie Crader at: or mail to BVR, LLC, 1000 SW Broadway, Suite 1200, Portland, OR 97205.