Book

Narrative and Numbers

Aswath Damodaran

Where a story becomes a forecast and a forecast becomes a valuation. The bridge between a stock pitch and the DCF sitting underneath it.

• Valuation
• Investing

1 idea from this book

• FrameworkValuation

  Every forecast row is a sentence about the business

  A forecast is a story written in numbers; if a row cannot be said as a sentence about the business, it should not be in the model.

  Building or defending a DCF, writing a stock pitch, or reviewing someone else's model.