Musings On Markets
If you are a instructor, you measure your life in quarters and semesters. This is my fiftieth semester teaching, and, such as each of the prior forty nine semesters, I could not wait to get started. Coddled as only tenured faculty at a research university can be, I have only one class to instruct this semester.
The course is “Valuation”, and it is about valuing any asset: stocks, businesses, sports activities collectibles and teams are all reasonable game. As the class begins with an extended discussion of intrinsic (DCF) valuation , it shall extend to pay multiples/comparables and real options. Of the year In the beginning, I argued that universities have used their “monopoly” status in the education business to protect themselves from needed change.
I also shown my view that “disruptive” changes were coming, mainly because technology has undermined the entrenched competitive advantages that have allowed colleges to charge high quality prices for often below-average products. I also put my class online, using a ongoing company called Coursekit, and a few thousand people signed up for the class.
1. School website: I maintain a website at Stern for the course that includes anything that I do in this course: webcasts of the classes, lecture quizzes/exams and notes. The plus is that this is my first stop once i add or update anything to the class and it is the main one place where you’ll be guaranteed to find everything regarding the class. The minus is that I am not …