By
Borsgade
Aswath Damodaran, Professor of Finance at New York University, visits the podcast ‘Equity Mates’ to discuss everything valuation.
In this episode they cover: How Aswath introduces students to valuation at NYU – Key concepts of valuation including: price vs value, the four drivers of valuation, and probabilistic margins of safety. They also cover how Aswath advises beginners to approach valuation, growth in Big Tech and how Aswath thinks about valuing the Magnificent 7.
So when you think about an asset as a business, you got to understand the business. You have to understand what drives its growth and its profitability and its risk and bring them all into an assessment of value. Now we might call this a discounted cash flow valuation, but remember valuation predates discounted cash flow valuation.
Discounted cash flow valuation is a tool that has been developed primarily in the last 87 years, 1937 John Williams book is the first one one that described the mechanics of discounted cash flow valuation. But I think of intrinsic valuation as predating discounted cash flow valuation.
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