Harvard Business Review

JULY 9, 2012

A major customer may default, a promised source of funding may disappear, or the world's markets may sour — any of these can shift your trajectory in an instant. In a similar fashion, he acknowledges that his gift of allocating capital is driven by the circumstances of where he is. Then again, you may be lucky. So, Luck matters.

Net Present Value 15

Net Present Value Entrepreneur Strategic Fit Open-book 15

Harvard Business Review

AUGUST 3, 2018

On June 25, 2018, Facebook lost market capitalization of more than $100 billion in just two hours of trading after it announced its quarterly performance, despite exceeding analysts’ earnings forecasts. This example illustrates that investors consider information beyond just earnings as value-relevant. What caused this slump?

Report 8

Report GAAP Company Proposal 8

Harvard Business Review

DECEMBER 1, 2011

A firm's long-term value should correspond to the present value of future expected cash flows. Consider, for example, the average investor's inability to understand the subtleties of fashion design or scientific research. It apparently takes a courageous and confident board member to second-guess the market!

Short-term 14

Short-term Hostile Takeover Long-term Management 14

Harvard Business Review

APRIL 2, 2014

You know, the future value of money, the present value of money — money today is worth more than in the future because you can invest it and get interest. You’d have this beta with the market, so you have the riskless rate plus beta times the equity premium. When the Riksbank Prizes in Economic Sciences (a.k.a.

CAPM 8

CAPM Discount Price Finance 8