BVR's Advanced Series on Discounts for Lack of Marketability: Part 4 A Review of DLOM Volatility and Option Models
Date: Thursday, January 31, 2013
Time: 10:00am-11:40am PT / 1:00pm-2:40pm ET Format: A BVR Webinar
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Featuring (click image for more information):
John J. Stockdale
ASA, CPA/ABV, CFF
John Stockdale Business Valuations
Why You Should Attend
The studies and tools that measure volatility provide appraisers with powerful information to be used in determining and applying a discount for lack of marketability (DLOM).? Yet, of the models available, each has strengths and weaknesses which make its application potentially dangerous, depending on the target business, valuation assignment, or other considerations.
In this webinar expert John J. Stockdale reviews, tests, and interprets the outcomes of these models to provide appraisers with a better understanding of how, when, and why to apply each.? Through statistical analysis and basic tests of comparison Stockdale will show that, while each model has useful benefits, not all are always appropriate.
Agenda
The importance of volatility
Volatility models, their strengths and weaknesses
Tests of the models
Volatility Comparison
Performance over time
Interpreting the data
Weibull curves
Testing the Models
Black-Scholes model usage
Longstaff
Traditional
Transformed
Finnerty Average Strike Put Options
Ghaidarov Average Strike Put Options
Meulbroek CAPM
Tabak CAPM
Sigma-DLOM
Wrap Up
Learning Objectives
Learn the importance of volatility to DLOM measurements
Learn how the models discussed capture and measure volatility
Understand the strengths and weaknesses of each model
Learn how to apply the information gleaned in these models to an effective conclusion of value
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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)
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BVR's Advanced Series on DLOMs
A Review of DLOM Volatility and Option Models Part 4 of BVR's Advanced Series on Discounts for Lack of Marketability
Thursday, January 31, 2013, 10:00-11:40am PT / 1:00-2:40pm ET
Featuring: John J. Stockdale
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