SFBA Chapter April 20th Dinner Event - Valuation and the Importance of the Story Behind the Numbers


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Valuation and the Importance of the
"Story Behind the Numbers"

Featuring Guest Speaker Aswath Damodaran
Author and NYU Professor  

Dinner Presentation Will Be Preceded By Optional Afternoon PD Session
See Details Below*


How can a company that has never turned a profit have a multibillion dollar valuation? Why do some start-ups attract large investments while others do not? In his latest book, Narrative and Numbers, Aswath Damodaran, NYU professor at the Stern School of Business and frequent commentator on CNBC (often referred to as the “Valuation Guru”), argues that the power of story drives corporate value, adding substance to numbers and persuading cautious investors to take risks. In business, there are storytellers who spin compelling narratives and the number-crunchers who construct meaningful models and accounts. Both are essential to success, but only by combining the two, Damodaran argues, can a business deliver and sustain value.
 
Professor Damodaran will share case studies from Narrative and Numbers, and how storytellers can better incorporate and narrate numbers and how number-crunchers can develop models that withstand scrutiny. Specific examples include:
  • Uber’s debut and the importance of narrative to understanding different valuations.
  • Why Twitter and Facebook were valued in the billions of dollars in their public offerings – and why one (Twitter) has stagnated while the other (Facebook) has grown.
  • Perspective on more established business models like Apple and Amazon – which show how a company’s history can both enrich and constrain its narrative.
  • Vale – a global Brazil-based mining company – and the influence of external narrative (and how country, commodity, and currency can shape a company’s story).
 
For more background on Professor Damodaran, please see the links below for some of his recent appearances on CNBC:

http://www.cnbc.com/2017/02/28/snapchat-ipo-pricing-valuation.html

http://www.cnbc.com/2016/10/13/twitter-needs-adult-supervision-says-nyu-finance-professor.html


Date:  April 20, 2017

Location:  One Market Restaurant, 1 Market Street, San Francisco, CA 94105

Program:  4:30 PM PD Session | 5:30 PM Networking | 6:20 PM Announcements | 6:40 PM Guest Speaker | 7:30 PM Dinner

Cost:  Complimentary to Members | $125 Non-Members

Have Questions or Need Registration Support?  Contact Denise Parker, Chapter Administrator, at chap.admin@fei-sfba.org or 813.494.9551.
 

*Afternoon PD Session

Beyond the Black Box of Valuation
Presented by Josette Ferrer, Founder/Managing Director, Clairent Advisors

Many people view the world of valuation as a black box … but a good valuation – incorporating both qualitative and quantitative considerations – can be critical for management in supporting its value “case” associated with a variety of situations – including higher or lower values related to M&A, restructuring, joint ventures, and option grants.

In the afternoon PD session, Josette will discuss a specific case study in depth to help attendees identify key value drivers and levers, as well as best practices associated with supportable valuations. She will also touch on the importance of the “story” related to a valuation (which dovetails with Professor Damodaran’s evening presentation).


Speakers

Aswath Damodaran

Kerschner Family Chair in Finance Education
NYU/Stern School of Business

Josette Ferrer

Managing Director & Treasurer
Clairent Advisors LLC

Credits

1.00 CPE
Basic

Method

group-live

Field

Auditing, Technical

Prerequisites

none

Credits

1.00 CPE
Basic

Method

group-live

Field

Auditing, Technical

Prerequisites

none

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