Archive 2023-185: Reflections on a 50-year Career in Business Valuation

Presenters: Jay E. Fishman, FASA, FRICS and Jim Alerding, CPA/ABV

Based on their 50 years of business valuation and career experience, Jay E. Fishman, FASA, FRICS and Jim Alerding, CPA/ABV will discuss from their perspectives the evolution of the valuation profession as to where it is today. In a section of the presentation entitled “It’s Not that Simple,” Jay and Jim will challenge some of the core concepts in business valuation and discuss experiences when each found themselves in a position that was untenable as an expert witness. “Sometimes you get out of the noose and other times you hang.”

Learning Objectives:

In this webinar, participants will learn:

• Is there such a thing as a financial buyer in today’s world?
• Do observed discounts for closed end mutual funds reflect only a discount for lack of control ?
• Do put option models adequately capture discounts for lack of marketability or overstate them?
• Is a private company really less marketable than a public company because it is private?
• The use of outsourcing of the appraisal process and its impact on the quality of the opinion of value?