Top critical review
Book OK but the Hypocracy...
Reviewed in the United States on January 12, 2016
Book has a little different view on valuation but Damodaran.is a bit of a hypocrite.
A lot of valuation is estimation on top of estimation so valuation is a bit of a black art.
But Damodaran has some interesting approaches to valuation that are not found in most corporate or valuation textbooks.
But what I found hypocritical is that Prof Damodaran makes a point of emphasizing that many corporate boards are less than honest.
However, Prof Damodaran works for NYU where he teachers in their Executive MBA program.
NYU's executive MBA is $130,000. Prof. is that Prof Damodaran teachers a 14 week semester corporate finance course in 5 days as part of the NYU program. Obviously it is not possible to learn 14 weeks of material in 5 days. It is just a scam to suck money from students and their employer. Prof. Damodaran grades by giving a few take home quizzes over the 5 days of the course. But most of the grad is based on a take home project. The students are allowed 5 weeks to complete their project. Of course most cannot learn an master level finance course in 5 days, So you think a person is not likely to cheat when $130,000 degree is on the line!
So, Damodarn has to know the students cheat on the projects because you can teach or learn valuation or corporate finance in 5 days!