This is the sixth post in a “deja vu” series focusing on the handful of famous restricted stock studies published by the mid-1990s based on transactions occurring through the 1980s. The post provides a convenient reference to each of the prior posts for reader convenience. This post addresses the Silber Study, the most transparent of all the early studies, and provides some very interesting insights.
In this “deja vu” series about the “old and tired” restricted stock studies, we are working our way through the leading early studies. We have already examined the SEC Institutional Investor Study, the Gelman Study, the Trout Study, and the Moroney Study. In this post, we examine the Maher Study. The story does not get better with repetition. So read on.
After walking nearly every day for 900 days, it is time to share a thought or two about the journey. Neither rain, nor snow, nor sleet, nor hail shall keep me from my walking goals. Paraphrasing the Post Office motto. Take a look and see. I share a few thoughts about a walking program for you, as well.
After a break of more than two months, I’m back to ChrisMercer.net. This blog and its predecessors has been the beginning point of exposure for most of my thinking for many years. With this post, we turn to a new primary topic of focus — appraisal review. As you will see, there is a great deal more to the concept of appraisal review than a few methods or techniques to be employed. I’m looking forward to the coming exploration of appraisal review.
From December 15, 2019 until now, it has been just over two years. I’ve been walking with intentionality these past two years. Miles, 4,552. Steps, 9.6 million. Health, as far as I know, is better. Attitude, much better. This post recaps the experience of the last two years and offers a few thoughts that I hope you find either interesting, helpful or both.
The thought came to my mind on my walk this morning. It was undoubtedly prompted by meetings over the years with younger analysts who, because they wanted to find “perfect” answers to valuation problems, were (temporarily) unable to find any answer at all.
Excellence is attainable for many, if not most, at least in some areas of life. Perfection is unattainable. The pursuit of excellence is the roadway to success. The pursuit of perfection is a downward slide to failure.
Business Valuation: An Integrated Theory, 3rd Edition has been published by John Wiley & Sons, Inc. in the Wiley Finance Series. My co-author, Travis W. Harms, CFA, CPA/ABV and I are excited and relieved to have received this work in hand late last week. In this post, I will begin to tell the story about the book and why you should own it and read it.