Most helpful critical review
14 of 15 people found the following review helpful
on March 15, 2009
I work for one of the largest banks in the US, and we use this book as a reference when we need to dig into the more arcane details of a project. If you do a lot of valuation work, this is a recommended text, but it is tome-like and a bit laborious to use, and I've found much of the advice it contains is rather ivory tower and not-so-practical in real world situations. If you are studying valuation theory, or do a lot of this work, particularly on publicly-held companies, you'll definitely want this textbook, though over time it might not be the one you reach for everyday. To accompany it, I would suggest also buying Horn's "Unlocking the Value of a Business" for everyday use, which is a more concise and user-friendly manual on privately-held company valuation, with a more lighthearted, less-academic tone, and Horn's credentials as an acquisitions dealmaker yield advice that is decidedly more practical.