“A brand name is one of those competitive advantages you can hang on to for a long time. — Aswath Damodaran

Aswath DamodaranAswath Damodaran: Background & bio

Aswath Damodaran is the Professor of Finance at the Stern School of Business at New York University. He earned his  MBA and Ph.D degrees from the University of California in Los Angeles.

Aswath Damodaran had a spate teaching at the University of California, Berkeley, from 1984 to 1986, where he received the Earl Cheit Outstanding Teaching Award in 1985. Since, he has been awarded the Stern School of Business Excellence in Teaching Award in 1988, 1991, 1992, 1999, 2001, 2007 and 2008, and was the youngest winner of the University-wide Distinguished Teaching Award (in 1990). He was profiled in Business Week as one of the top twelve business school professors in the United States in 1994. Business Week did a poll of MBAs in 2011 that named Aswath Damodaran the most popular business school professor in the United States.

Aswath Damodaran has published research papers in the Journal of Financial and Quantitative Analysis, the Journal of Finance, the Journal of Financial Economics and the Review of Financial Studies. Aswath Damodaran has published four books on equity valuation (Damodaran on Valuation, Investment Valuation, The Dark Side of Valuation, The Little Book of Valuation) and two on corporate finance (Corporate Finance: Theory and Practice, Applied Corporate Finance: A User’s Manual). Two books on portfolio management – one on investment philosophies (Investment Philosophies). and one titled Investment Fables. Lastly, Aswath Damodaran has published a book titled Strategic Risk Taking, which is an exploration of how to think about risk and the implications for risk management.

Aswath Damodaran: Blog

Musings on Markets

Not-so-profound thoughts about valuation, corporate finance and the news of the day!

Aswath Damodaran: Tools

Taken from Aswath Damodaran’s website: Damodaran Online

Spreadsheets

  1. Corporate Finance
  2. Valuation
  3. Real Options

You can find the full list of spreadsheeets by clicking on this link.

Webcasts

  1. Corporate Finance in Practice
  2. Valuation Tools
  3. Valuations (Examples with real companies)

You can find the full lists of webcasts by clicking here.

Aswath Damodaran: Books

Damodaran on Valuation
For more than a decade, Damodaran on Valuation has been the standard valuation reference for professionals in virtually every field. Business realities have changed dramatically over that time, but the principles underlying valuation have not. The ability to value any asset is an essential skill in a wide variety of professional environments, from corporate finance to portfolio management to strategy. And while the reasons for doing valuation are as wide-ranging and varied as business itself, the fundamental precepts underlying valuation are surprisingly similar in both form and function.

Investment Valuation

The Dark side of Valuation
Aswath Damodaran reviews the core tools of valuation, examines today’s most difficult estimation questions and issues, and then systematically addresses the valuation challenges that arise throughout a firm’s lifecycle. He covers the entire corporate lifecycle, from “idea” and “nascent growth” companies to those in decline and distress, and offers specific guidance for valuing technology, human capital, commodity, and cyclical firms.

The Little Book of Valuation
Damodaran distills the fundamentals of valuation, without glossing over or ignoring key concepts, and develops models that you can easily understand and use. Along the way, he covers various valuation approaches from intrinsic or discounted cash flow valuation and multiples or relative valuation to some elements of real option valuation.

Corporate Finance: Theory and Practice

Applied Corporate Finance: A User’s Manual
Readable and usable in style and valuable in approach, this text provides the practical and succinct advice that students and practitioners need, rather than a sole concentration on debate theory, assumptions, or models.

Investment Philosophies
Covers different investment philosophies and reveal the beliefs that underlie each one, the evidence on whether the strategies that arise from the philosophy actually produce results, and what an investor needs to bring to the table to make the philosophy work.

The book covers a wealth of strategies including indexing, passive and activist value investing, growth investing, chart/technical analysis, market timing, arbitrage, and many more investment philosophies.

Investment Fables
The truth about 13 of today’s most widely touted investment strategies.

  • 10 powerful lessons for every investor
  • Overcoming the enduring myths about markets
  • High dividend stocks: better and safer than bonds–or not?
  • Cheap stocks: cheap for a reason?
  • Should you invest in quality? Momentum? The next big thing? Or what?

Strategic Risk Taking
Here, Damodaran helps you separate good risk (opportunities) from bad risk (threats), showing how to utilize the former while protecting yourself against the latter. He introduces powerful financial tools for evaluating risk, and demonstrates how to draw on other disciplines to make these tools even more effective.

Aswath Damodaran: Papers

Aswath Damodaran: Articles

Aswath Damodaran: Videos