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| Valuation Workbook: Step-by-Step Exercises and Tests to Help You Master Valuation (Wiley Finance) | 
 enlarge | Authors: Tim Koller, Marc Goedhart, David Wessels, Jeffrey P. Lessard, Inc. Mckinsey & Company
Publisher: Wiley
Category: Book
List Price: $39.95
Buy New: $20.00
You Save: $19.95 (50%)
New (41) Used (14) from $18.00
Avg. Customer Rating:  27 reviews
Sales Rank: 78260
Media: Paperback
Edition: 4
Number Of Items: 1
Pages: 200
Shipping Weight (lbs): 0.8
Dimensions (in): 9.9 x 7 x 0.6
ISBN: 0471702161
Dewey Decimal Number: 658
EAN: 9780471702160
ASIN: 0471702161
Publication Date: May 19, 2006
Availability: Usually ships in 1-2 business days
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| Customer Reviews:
 Good read but brush up on your math May 11, 2008
2 out of 2 found this review helpful
I found this book to be a great read in learning about all the various aspects that go into the valuation of a company. It does a great job of making you look at what makes a company tick and how it affects a valuation.
The base of the book is the DCF (Discounted Cash Flows) model. It describes many of the formulas used. I am not a math major or anything so many of them were over my head. The authors did a good job of describing the formulas but if you don't have a good solid foundation it will take a while to break down the formulas.
I did come across many areas in the book that justifies any kind of forecasting is mediocre at best. It's not an exact science and any kind of model is just that - a model of a perfect world. The world is not perfect but perhaps a DCF model is the closest you'll get to being real in a perfect storm.
 Useless May 8, 2008
7 out of 10 found this review helpful
People buy this book to evaluate companies and make investment decisions, don't they? If that's most of the readers' goal, this book is pretty much useless.
The calculation of net present value (NPV) of companies is purely a concept, which sounds great but impossible to accurately capture quantitatively using a formula.
The difficult is in evaluating stable future cash flow, not on how to calculate the NPV. The evaluation of future cash flow depends on the history of a company, and much more importantly, on the company's business model, the management team, etc. Neither of these are clearly emphasized or discussed in this book. For example, R&D generates future cash flow, but should all R&D be treated equal? More leverage of a wise management is a great thing, but when is leverage good or bad?
If you are into value investing, read Graham's The Intelligent Investor. If you are a pro, read Graham and Dodd's Security Analysis 10 times. Fisher's Common Stocks and Uncommon Profits, albeit old, is also a much more useful reading than this one.
Khurrum's Review May 5, 2008
1 out of 3 found this review helpful
Being an investment banker, I found this book very productive for enhancing my knowledgebase. This book exposed me to several valuation techniques depending upon the type of industry.
Furthermore, I am very pleased with the effective service which is provided by Amazon.com to deliver this book to me.
Valuation book review April 18, 2008
This product is great to use for finance DCF models - covers all topics in an easy-to-understand and concise way.
 good but not great April 9, 2008
1 out of 1 found this review helpful
A good book when dealing with project or company valuation. However, I feel many of the subjects are not dealt with enough detail. All in all, it is more than enough for a general knowledge on valuation.
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