This is the first of four sessions in a two-day valuation class that I taught on July 10 & 11, 2023, for the Trim MBA program in New York. You can get the slides and other information related to this class by going to the link below:
https://pages.stern.nyu.edu/~adamodar//New_Home_Page/valseminar2023.html
In this session, I lay out the broad themes of valuation, including my belief that valuation is a craft (not an art or a science), the difference between value and price, how every valuation is built on a story and why acting on valuations requires faith.
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