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Title: The authors lost an unique opportunity
Review: The importance of the subject can't be overstated. The authors, however, are more interested in selling advice, keeping unrealistic cases without a full solution, using phrases like "We used a simple binomial model to get illustrative results". What results? Incomplete answers, however, are nothing compared to basic conceptual mistakes. In chapter 10, the authors estimate the value of an established firm using a current multiple; then, for using the B&S formula, they bring it to present value!! Want more? Just read the book...
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