He's got 2 books out there: Damodaran on Valuation (2007) and Investment Valuation (2002).
I can only buy one of the two. I'm a non-finance major trying to prep for investment banking. Which book should I buy? Thanks
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Very in depth, thought it might be a little tedious if you haven't taken any accounting/finance classes. Then again, the material isn't that difficult, so you should be fine.
I have Damodaran's Investment Valuation 2nd Ed. in my office but rarely review it. I would highly recommend Scoop Books - Guide to Investment Banking, M&A, and Corp Fin. Its a bright blue book and a bit expense ($100) but certainly worth it.
You are better off using Dam's website and free resources as a non-finance major may struggle with some of the granular items in his valuation books.
What about for a finance major? I will be taking accounting/finance classes etc, what would you recommend for me?
stephen penman's book on financial statement analysis/valuation (http://www.amazon.com/Financial-Statement-Analysis-Security-Valuation/d…).
assumes some understanding of finance theory and accounting. jumps right into practical/usable financial analysis. you'll probably find his book most useful for helping you do your day-to-day work.
what if i'm a soph. and will apply this year and want to get an idea of valuation etc to get my foot in the door a little. would you still recommend penman's book?
why did Damodaran have to write 2 books on the same subject? any differences between them?
it provides a great overview of valuation, that starts from understanding competitive dynamics/valuation drivers, to nitty, gritty financial concepts (albeit from a consultant's perspective).
honestly, the best way to learn is to get a couple of books and start reading. i can clearly remember studying finance from books and not understanding anything. only after i kept at it for sometime (going through different books) and continued to gain exposure to different concepts, did things begin to "click" and make sense. as a sophomore, if you pick any of these books and begin studying now, i can guarantee that you'll know much more than your peers 2-3 years from now. no easy way around it, just get the wessels/penman book and begin studying.
one point of clarification: if you're looking to gain BASIC exposure to/understanding of finance, you might want to check out brealey, myers, allen's "corporate finance". the penman/wessels book is more APPLIED and helpful in developing an analytical skill set useful in a work setting.
I have the first edition of investment valuation. It is actually labeled as a university edition. I find that it is not very hard to read/understand. Keep in mind that I majored in Economics and took a lot of finance classes that dealt with valuation.
I'm a business and econ major but I've only taken three econ classes thus far, two accounting and no finance (I'll be a sophomore in the fall) but I want to try and learn some of this stuff as I'll try getting a intern at a boutique upcoming summer. Would you guys then suggest that I look at Brealey, Myers, Allen's "corporate finance" instead of Damodaran?
Which Damodaran text to get (Originally Posted: 04/02/2007)
Hello all,
Looking to get a good grounding in valuation and corp fin. Would be grateful for any recommendations on which of the following texts to get:
Damodaran on Valuation : Security Analysis for Investment and corporate finance; or
Investment Valuation : Tools and Techniques for Determining the Value of Any Asset
If there are others you think do a better job, please do recommend.
Second, for corp fin theory, is the following a decent buy or is there better stuff out there:
corporate finance : Theory and Practice (this is also by Damodaran)
Thanks
I have #1, for class. Its solid.
i had the Damodaran corp fin txtbk. its so incredibly tedious to decipher. the CFA text from schweser helped me a lot because of its pure simplicity.
that you can get damodaran's books for free on his site, www.damodaran.com , well some of them anyway.
Thanks all, will hit up Damodaran's website. Looks pretty comprehensive at least for a newb.
I've started reading this book, and I have some background. Its been a good read for me till now. I think it's worth it !!
I have #2. He tries to make it pretty modular, but some of the chapters are still pretty rough.
2 is way too much info - it sucks.
Thanks all, gives me enough info for a choice.
Damodaran books (Originally Posted: 04/30/2011)
Does anyone know what the difference between the two valuation books by Damodaran ("Damodaran on Valuation" and "Investment Valuation") is ?
I am hesitating between the two and I can't really figure out which one I should take.
Any advice ?
Bump
Check his website: http://people.stern.nyu.edu/adamodar/
It has a pretty thorough breakdown of the differences.
Damodaran - Starting analyst (Originally Posted: 04/15/2007)
For a starting analyst, which is better/more relevant to read for the job? Damodaran's Valuation, or Applied corporate finance?
ML uses Applied corporate finance
All Demondaran's courses are up on the web (RealMedia). That's the fun part for me....
Interview Prep: Damodaran TextBook Excessive? (Originally Posted: 07/11/2011)
Hello Bankers, I am now spending time meticulously preparing for interviews. I am very familar with DCF's, COMP's, and M&A's. I have done very well on tech questions but am looking to really blow interviewers away with advanced techincal knowledge. Do you guys think it would be too much to sit down and memorize Damodaran's stuff on valuation? Thanks
Sorry, don't know who that is. You will be fine going over the Investment Banking Book by Joshua Rosenbaum...
It probably depends on the interviewer, but I think if you know at a high level via google searches what Damodaran teaches in his books you should be fine - e.g. valuation of companies with no revenues/EBIT, valuation of cyclical companies, etc.
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