Learn Valuation for what it is—a craft—and learn how to understand and apply the core fundamentals that drive each approach.
Valuation is Neither an Art Nor a Science—It's a Craft
Whether it’s preparing for an imminent merger or acquisition, or marveling over the latest dollar figure attached to a tech wunderkind, valuation is the key to parsing and understanding the numbers.
About the Course
The Valuation course unfolds over 15 weeks, with two new topics released each week. Roughly every other week, Professor Damodaran holds a live online Q&A session for all participants in the course. This is an opportunity for students to ask questions, hear from the professor on current events, and interact with their peers. If you cannot attend one of the sessions, a recording will be made available to you to watch at a later date.
Students complete three multiple choice quizzes, a final valuation project, and a multiple choice final exam. Successful completion of the course results in an NYU Stern Certificate in Advanced Valuation. Students receive both a digital certificate and badge.
The course outline for the Spring 2018 course offering provides further information on the schedule.
The next Stern Certificate in Advanced Valuation course will be offered in Spring 2018, beginning on January 28th. The application for the Spring 2018 course is now open.
About Aswath Damodaran
Aswath Damodaran holds the Kerschner Family Chair in Finance Education and is Professor of Finance at New York University Stern School of Business. Before coming to Stern, he also lectured in Finance at the University of California, Berkeley.
Professor Damodaran's contributions to the field of Finance have been recognized many times over. He has been the recipient of Giblin, Glucksman, and Heyman Fellowships, a David Margolis Teaching Excellence Fellowship, and the Richard L. Rosenthal Award for Innovation in Investment Management and Corporate Finance.
In addition to a myriad of publications in academic journals, Professor Damodaran is the author of several highly-regarded and widely-used academic texts on Valuation, Corporate Finance, and Investment Management.
Proficiency and knowledge of basic accounting and the principles of finance are preferred but not required. An accounting supplement, for those needing additional support, is included as part of the offering. This certificate course is for analysts, financial officers, and portfolio managers seeking a deeper understanding of Valuation, and the skills and knowledge to confidently make financial decisions.
There are three fundamental skills you should bring to class on day one:
Professor Damodaran has prepared three primers on each subject to help you prepare for the course. It is strongly recommended that everyone taking the course familiarize themselves with this material.
Students should have an understanding of basic statistics, from how to summarize data (with statistical moments) to how to analyze relationships between variables (correlation and regression).Statistics Primer
Financial Statement Analysis
Since the raw data for valuation comes from financial statements, being able to read financial statements (income statements, balance sheets and statements of cash flows) will help a great deal when you actually have to value companies.Financial Statements Primer
Time Value of Money
Understanding why there is a time value for money and being able to move cash flows across time (by discounting and compounding) is an essential component of valuation. This may be as simple as understanding how to use present value equations or functions.Time Value of Money Primer