Narrative and Numbers: The Value of Stories in Business by Aswath Damodaran (Eng

Description: Narrative and Numbers by Aswath Damodaran How to connect business value to story. FORMAT Hardcover LANGUAGE English CONDITION Brand New Publisher Description How can a company that has never turned a profit have a multibillion dollar valuation? Why do some start-ups attract large investments while others do not? Aswath Damodaran, finance professor and experienced investor, argues that the power of story drives corporate value, adding substance to numbers and persuading even cautious investors to take risks. In business, there are the storytellers who spin compelling narratives and the number-crunchers who construct meaningful models and accounts. Both are essential to success, but only by combining the two, Damodaran argues, can a business deliver and sustain value.Through a range of case studies, Narrative and Numbers describes how storytellers can better incorporate and narrate numbers and how number-crunchers can calculate more imaginative models that withstand scrutiny. Damodaran considers Ubers debut and how narrative is key to understanding different valuations. He investigates why Twitter and Facebook were valued in the billions of dollars at their public offerings, and why one (Twitter) has stagnated while the other (Facebook) has grown. Damodaran also looks at more established business models such as Apple and Amazon to demonstrate how a companys history can both enrich and constrain its narrative. And through Vale, a global Brazil-based mining company, he shows the influence of external narrative, and how country, commodity, and currency can shape a companys story. Narrative and Numbers reveals the benefits, challenges, and pitfalls of weaving narratives around numbers and how one can best test a storys plausibility. Author Biography Aswath Damodaran is the Kerschner Family Chair in Finance Education and professor of finance at New York Universitys Stern School of Business. He is the author of Applied Corporate Finance, Fourth Edition (2014), Investment Valuation: Tools and Techniques for Determining the Value of Any Asset, Third Edition (2012), The Little Book of Valuation: How to Value a Company, Pick a Stock and Profit (2011), and Damodaran on Valuation: Security Analysis for Investment and Corporate Finance, Second Edition (2006). Table of Contents Preface 1. A Tale of Two Tribes 2. Tell Me a Story 3. The Elements of Storytelling 4. The Power of Numbers 5. Number-Crunching Tools 6. Building a Narrative 7. Test-Driving a Narrative 8. From Narratives to Numbers 9. Numbers to Value 10. Improving and Modifying Your Narrative-the Feedback Loop 11. Narrative Alterations-the Real World Intrudes 12. News and Narratives 13. Go Big-the Macro Story 14. The Corporate Life Cycle 15. The Managerial Challenge 16. The Endgame Notes Index Review Damodarans success in combining storytelling with traditional financial analysis and valuation is unprecedented. The book has the potential to be a cornerstone of both traditional valuation and business "pitching" as it shows how individuals from each world can benefit from co-opting tools from the other. The author takes us on his personal journey into the realization that numbers need a narrative in order to make them persuasive. -- Paul Johnson, Nicusa Investment Advisors Professor Damodarans point-counterpoint case studies make valuation a good read. Self-critical in his contemporary examples, he wisely cautions the reader that quality valuation requires both the right and the left side of ones brain-the number cruncher and the storyteller. -- Thomas E. Copeland, University of San Diego Damodaran, instructor to many on valuation, clearly demonstrates that quantitative valuation formulas are not sufficient: they must be applied with a more qualitative narrative about the business. But qualitative analysis has its dangers, not the least that we insert our own biases into the narrative. Damodaran nicely weaves stories into the more formal quantitative analysis, with check and balances that yield a more confident valuation. -- Stephen Penman, author, Accounting for Value No one has contributed more to the craft of valuation than Aswath Damodaran. In Narrative and Numbers, he correctly shows that you cant understand the stock without the story. After Damodarans eye-opening tour, you will forever appreciate the vital contribution of human nature to number-crunching. -- Michael Mauboussin, Head of Global Financial Strategies, Credit Suisse Damodaran takes us to the place where Joseph Campbell, Warren Buffett, and the best quantitative analyses of Nassim Taleb intersect, and his journey uncovers new value and risk missed by analysts who bias themselves by relying solely on storytelling or number-crunching. Its a heros journey best supported by humility-and this first-person account of Aswaths own evolving narratives, analyses, and valuations of Alibaba, Amazon, Uber, Theranos, Ferrari, and more. He may have started as a quant, but Damodarans now one of the most balanced analysts-and wonderful business and financial storytellers-writing and teaching today. -- David Foster, CEO, Business Valuation Resources For adventurous chefs and readers with a serious interest in gastronomy, Mouthfeel should prove a handy reference tool. Japan Times Promotional Aswath Damodaran, finance professor and experienced investor, argues that the power of story drives corporate value, adding substance to numbers and persuading even cautious investors to take risks. In business, there are the storytellers who spin compelling narratives and the number-crunchers who construct meaningful models and accounts. Both are essential to success, but only by combining the two, Damodaran argues, can a business deliver and sustain value. Review Quote This book is well-organized, well-written, and engaging, with the interplay of qualitative analysis (narrative) and quantitative analysis (numbers) vividly demonstrated. It is a lively discussion supported by case studies and considerable detail on implementation. Promotional "Headline" Aswath Damodaran, finance professor and experienced investor, argues that the power of story drives corporate value, adding substance to numbers and persuading even cautious investors to take risks. In business, there are the storytellers who spin compelling narratives and the number-crunchers who construct meaningful models and accounts. Both are essential to success, but only by combining the two, Damodaran argues, can a business deliver and sustain value. Details ISBN0231180489 Author Aswath Damodaran Short Title NARRATIVE & NUMBERS Publisher Columbia University Press Series Columbia Business School Publishing Language English ISBN-10 0231180489 ISBN-13 9780231180481 Media Book Format Hardcover Residence New York, NY, US Affiliation Stern School of Business, New York Univ. Stern School of Business, New Year 2017 Imprint Columbia University Press Subtitle The Value of Stories in Business Place of Publication New York Country of Publication United States DEWEY 658.023 Illustrations 88 figures Translated from English NZ Release Date 2017-01-10 US Release Date 2017-01-10 Publication Date 2017-01-10 UK Release Date 2017-01-10 Pages 296 Audience Professional & Vocational AU Release Date 2017-01-09 We've got this At The Nile, if you're looking for it, we've got it. With fast shipping, low prices, friendly service and well over a million items - you're bound to find what you want, at a price you'll love! TheNile_Item_ID:130624407;

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