Valuation: Measuring and Managing the Value of Companies, 3rd Edition
Author: McKinsey & Company Inc., Tom Copeland, Tim Koller, Jack Murrin
List Price: $80.00
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ISBN: 0471361909
Publisher: John Wiley & Sons (28 July, 2000)
Sales Rank: 2,110
Average Customer Rating: 3.45 out of 5
Customer Reviews
Rating: 3 out of 5
Logic jumps
This book is useful if you're already quite familiar with common valuation methods and can fill in the jumps & gaps. However, if any of the areas you're looking at is new to you or if you would like a more logical, well-reasoned approach or simply a discussion of all the various valuation methods in use, buy Damodaran's text instead.This book was the prescribed & provided reference in the Corporate Finance department I worked in but most of my colleagues and I purchased our own copies of Damodaran's text "Investment Valuation, Wiley, Aswath Damodaran", which is superior in breadth as well as logical description of valuation processes.
Rating: 3 out of 5
Good but bad Excel support
I liked this book. In Russia it is one of the most popular books on valuatuion. But when I can get the perfect excel support for Investment Valuation by Aswath Damodaran or good web support for Valuation Methods and Shareholder Value Creation by Pablo Fernandez, I ask the authors, why don't they put supporting material in disk? I think that the price of their sowtware ($94.50) is too high compairing with the book ($56 with discount), because there is no supporting materials - only 1 spreadsheet (from my point of view does not conform to McKinsey, as the leader of consulting business). I hope, for the 4-th edition we will have a good excel support.
Rating: 3 out of 5
Adequate, but not Original
I hoped that McKinsey would have something new to say on this subject. There are two corporate finance texts and various finance books that cover the ground better or at least as well, so it is hard to see why this book was written. In light of recent corporate shenanigans with off-balance sheet products, it is unforgiveable that this book doesn't address how lack of value can be disguised using off-balance sheet products. Total return swaps, an off-balance sheet financing tool, isn't discussed, and credit derivatives, another off-balance sheet tool aren't even discussed. For coverage of these topics and offshore vehicles, read "Credit Derivatives" by Tavakoli.
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