H.R. Bill 436 would severely curtail (but not eliminate) valuation discounts for minority interests. It may pass soon: assume it does.
Besides reducing demand for our services, it will raise a host of issues. Discounts are real (routinely observed and quantified via numerous long-term market studies) and also logical (consistent with finance theory). Since the limitations [...]
This recession (or worse) is wreaking havoc on most companies. Their financial statements will reflect it as long as it lasts. For sure, 2008 and 2009 results will suffer, and maybe those for 2010 and beyond. Since we typically go back five years when analyzing historical financial results, we will be considering 2008 at least [...]
In my home state of Ohio, expert reports must be submitted sixty days pre trial. If I am retained as an expert witness, I know what I have to do and when: submit a full report by the indicated date and be available for deposition and testimony. I have done this many times and am [...]
I have been offline for awhile due to a short vacation and a backlog of work, but I’m back with a book report. May I suggest that you read “The Black Swan” by Nicholas Nassim Taleb?
This book concerns extremely rare but consequential events (gee, I can think of a few that have happened in the [...]
IBA Co-Sponsors the Guideline Public Company Method – Exclusive Workshop with Rob Schlegel
A proxy is a substitute for something. In formal voting procedures, I can give you my proxy, meaning that you substitute and act (vote) for me.
We use proxies all the time in business valuation. The Direct Market Data Method is based on the Principle of Substitution, which holds that the sale price multiples of guideline [...]
