# Professor Aswath Damodaran comments on Bernstein's views on Discounted Cash Flow (DCF) modeling

1 Faculty News October 14, 2016 ![Financial Times logo](/sites/default/files/styles/246w/public/assets/images/uat_025699.jpg?itok=5SpaxEbn)>

Excerpt from the [Financial Times](http://ftalphaville.ft.com/2016/10/14/2177257/aswath-damodaran-doesnt-quite-agree-with-bernsteins-bashing-of-dcf-models-under-zero-rates/) -- "This piece by Bernstein tells me more about how DCF is practiced (or mangled) at Bernstein than it does about DCF itself. As the piece indicates, a Bernstein DCF is a Robo DCF where as the risk free rate changes, nothing else does and not surprisingly the value goes up."

[Read more](http://ftalphaville.ft.com/2016/10/14/2177257/aswath-damodaran-doesnt-quite-agree-with-bernsteins-bashing-of-dcf-models-under-zero-rates/)

Additional coverage appeared on [Bloomberg](https://www.bloomberg.com/view/articles/2016-10-17/bank-businesses-and-robot-traders).