“Comment, question or quotation of the day”

16-02-2018 : Quote of the day

We don't seek enough information out of statistics, and we demand too many conclusions from them. 
Auguste Detoeuf

15-02-2018 : Question from one of our readers

How to account for the effects of proportional consolidation in DCF or multiples method?
Do nothing special because everything has been integrated proportionally to the company's share in this subsidiary. There is therefore no minority interest to be valued and deducted from entreprise value. For more details, see Chapter 31 of the Vernimmen.
Have a nice day  


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The Vernimmen.com Letter

Number 109 of January 2018

News : Are capital expenditures and dividends mutually exclusive?

Statistics : Bond betas

Research : Directors that are truly independent?

Q&A : Is assessing economic activities based on their profitability in the best general interest?