valuation multiples

“Most people don't know how to properly use valuation multiples, and the idea that multiples flow from proper valuation and DCF technique and are not a driver of it, And therefore what happens is people make a lot of mistakes. They do maybe good quantitative or…”

“It's most likely to go up, then go down, particularly because it's beginning to normalize, and multiples are a third of what you have elsewhere in the world.”

“I always tell my students, you have to earn the right to use a multiple. In other words, you can demonstrate that you understand what the economic implications are. That always bothers me that people are very comfortable throwing around heuristics or multiples…”