Blood in the Shark Tank: Pre-money, Post-money and Play-money Valuations

My kids are inclined to binge TV-watching, especially in the winter, and this Christmas break, when they were all home, they were at it agai...

Discounted Cashflow Valuations (DCF): Academic Exercise, Sales Pitch or Investor Tool?

In my last post , I noted that I will be teaching my valuation class , starting tomorrow (February 2, 2015). While the class looks at the wh...

The Dance of the Disrupted: Observations from the front lines

Teaching is my passion, writing gives me joy and finance is my playground. While I am blessed in being able to immerse myself in all three, ...

The X Factor in Value: Excess Returns in Theory and Practice

There are lots of reasons why we try to start and run businesses. Some of them are emotional but the financial rationale for starting and st...

The Tax Story in 2015: Myths, Misconceptions and Reality Checks

Each of us believes that we pay our fair share in taxes and that it is other people that do not, and not surprisingly, we find evidence to b...