Business Valuation Resources, LLC

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
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
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.


  • 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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Business Valuation Resources offers 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, or mail to BVR, LLC, 1000 SW Broadway, Suite 1200, Portland, OR 97205.