Investment Valuation: Tools and Techniques for Determining the Value of Any Asset

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Investment Valuation by NYU Stern professor Aswath Damodaran is the thorough reference on business valuation methodology. The book covers the full spectrum of valuation approaches including discounted cash flow analysis, relative valuation using multiples, real options valuation, and valuation of specific asset types. Damodaran provides detailed guidance on estimating discount rates, projecting cash flows, selecting comparable companies, and adjusting for risk. For search fund practitioners, the book serves as the authoritative reference for understanding and applying valuation techniques to potential acquisition targets. While academic in rigor, Damodaran's writing is accessible and supported by extensive real-world examples from public and private markets.