[lbo-talk] stock valuation without dividends

[Mark S]

Doug Henwood wrote:
>
>CSenior is exaggerating when he says that you're 30 years out of date with 
>efficient market theory; 10-15 is probably more accurate. I don't know what 
>they're teaching in business schools now, though.
>
WRT stock valuation, the Chartered Financial Analyst curriculum includes 
various dividend discount models and free cash flow models.  They also 
discuss the use of price multiples like P/E or price over free cash flow (to 
firm or equity).  They cover the problems and limitations of each approach.

An MBA told me that the CFA curriculum is similar to what was covered in his 
business school.  They both use textbooks so neither teaches cutting-edge 
models.

M.

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