Equity Research and Valuation Techniques

Recent scandals have raised disturbing questions about the creditability of corporate financial reporting. For analysts, however, these financial and accounting debacles may have served less as a revelation than as a reaffirmation of a truth they know all too well: Valuation is an extremely difficult and often tricky task. Valuation is not a purely scientific pursuit of truth. It does not occur in a vacuum. The presentations in this proceedings demonstrate that finding the right approach often depends on the ultimate use of the valuation. Together, the presentations in this proceedings serve as a valuable guide to navigating the uncertain waters of valuing stocks in today's market.