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
- 4.7 Instructor Rating
- 1,330 Reviews
- 6,836 Students
- 11 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 to 4 years.
At the age of 50 and thanks to the value investing principles learned from Warren Buffett, 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 & intellectual independence by teaching them value investing. Since May 1st, 2024, I have co-created VingeGPT, which is an AI companion for value investors.
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.