The Art of Company Valuation - Complete course
What you'll learn
- Be able to determine the intrinsic / real value of a company using cash flow to the firm & equity methods
- Be able to apply the right valuation method depending if you are into startup investing, private equity or public equity investment universe
- Understand the main company valuation methods (asset based valuation methods, going concern valuation methods, relative valuation methods)
- Understand the difference between absolute & relative valuation methods
- Become fluent in executing a discounted cash flow / future earnings valuation
- Be able to adjust balance sheet items in order to modify the book value of a company
Requirements
- Have an average understanding of financial statements
- Be able to differentiate between balance sheet, income statement & cash flow statement
- Be able to understand how to calculate a net present value or discounted value
- Be able to read financial statements like 10Q & 10K reports
Description
Knowing what an asset is worth is a prerequisite for intelligent decision making. As an investor I always want to know what the intrinsic value is vs current share price or the price the seller is offering (if private equity) and if I have a safety margin on the price.
After this course you will be autonomous in evaluating companies. You will be equipped with a set of methods and knowing how to apply those methods in the public equity, private equity or venture capital universe :
asset-based valuation (cash to market cap, book value, modified book value, liquidation value)
going concern valuation (multiple revenue/earnings method, Free Cash Flow to Firm including DCF & DFE, Free Cash Flow to Equity including DDM, Gordon & Total shareholder yield)
relative valuation to understand the financial strength of a company (P/B, P/CF, P/S, P/E, PEG, EV)
Investing requires practice. In this training we will practice all absolute & relative valuation methods with 4 companies being 2 luxury companies (Richemont & Kering) & 2 tech companies (Apple & Microsoft). We will apply all our learnings each time for those 4 companies instead of using dummy companies that do not exist. The course will also cover special valuation situations like VC investments, IPOs/DPOs and banks. In those special valuation situations, we will be practicing on companies like Fitbit, GoPro, Etsy for the IPO/DPO part and Bank of America & Wells Fargo for bank valuation part.
After this course you will be able to determine the real value of a company vs the current share price. If you want to become a fully independent investor with deep valuation methods, this course is for you. BE AWARE this course is an ADVANCED LEVEL course.
Investing in stocks and acting as a business-owner can be a life-changing experience. Learn from my 20 years experience as an investor running my own investment fund and rapidly move ahead faster with the knowledge I will share with you.
Many thanks and I appreciate your interest in my course!
- Candi Carrera
Who this course is for:
- Investors wanting to develop in-depth knowledge on company valuation and applying those methods to VC, PE and public equity companies
- Investors wanting to learn how to calculate cost of capital and cost of equity
- Novice company appraisers
Instructor
- 4.6 Instructor Rating
- 941 Reviews
- 4,176 Students
- 10 Courses
My name is Candi Carrera. Born in 1972, I have been a value investor since 2001 with 90% of my personal savings invested in blue chip companies. One of my core principles is to never borrow money when investing in the stock market. I keep the remaining 10% as a permanent cash reserve to buy more stocks when markets get irrational & depressed which happens in average once every 2 - 4 years.
At the age of 50 and thanks to value investing learned from Warren Buffett & Benjamin Graham, I was able to "retire" and live today from the passive stream of income that my value investing portfolio delivers. My personal mission is to help people reach their financial independence by teaching them value investing.
My main attitude as value investor is to buy shares as if I would be buying the whole company, acting as a business owner and understanding the business I am investing into.
During bear markets, investors are depressed and become pessimistic. I take the opportunity during those periods to buy great companies at low prices. As famous investor John Templeton said : "If you want to have a better performance than the crowd, you must do things differently from the crowd". My courses aim at developing a strong investing mindset in order to make better investment decisions and being able to develop and grow a stream of passive income.
In parallel to being a value investor since 2001, I have been in many Senior Management positions during my career running companies up to 200 MUSD in annual revenue. Currently I am serving as independent board director in 2 companies in Luxembourg & Dubai/UAE and also running 36 Square Capital our family-owned holding company.
From an educational background perspective, I have a Master in Business Administration from University of Lorraine (France) and a Certificate in Value Investing from University of Luxembourg. In 2023 I received from INSEAD the certification of International Directors Programme (IDP-C). I have also been mentoring young entrepreneurs in Luxembourg & university spinoffs since 2010.
Since many years I lecture at University of Luxembourg on topics like Big Data, Artificial Intelligence, Strategic management and Entrepreneurship and more recently in 2023 I am privileged to teach at French business school of management ESSCA as adjunct faculty.
Last but not least I try to be a good husband and father to my wife & 2 children.