Session 13: Story Changes and First DCFs
from Aswath Damodaran Hosted by Aswath Damodaran
In this class, we started with a quick review of narrative changes, shifts and breaks and how earnings reports, in particular, can alter your narrative for a company. Since many of you will be dealing with earnings reports in the next couple of weeks, I thought you may find these two posts of interest in how narratives shift, and with them, values:Reacting to Earnings Reports: http://aswathdamodaran.blogspot.com/2014/08/reacting-to-earnings-reports-lets-get.htmlNarrative Resets: http://aswathdamodaran.blogspot.com/2015/08/narrative-resets-revisiting-tech-trio.html We started with three conventional valuations, one of Con Ed, another of 3M and the third of the S&P 500. Next week, things get interesting! Start of the class test: http://www.stern.nyu.edu/~adamodar/pdfiles/eqnotes/tests/dcfintro.pdfSlides: http://www.stern.nyu.edu/~adamodar/podcasts/valfall16/valsession13.pdfPost class test: http://www.stern.nyu.edu/~adamodar/pdfiles/eqnotes/postclass/session13Atest.pdfPost class test solution: http://www.stern.nyu.edu/~adamodar/pdfiles/eqnotes/postclass/session13Asoln.pdf
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