> I have a company that is worth $1000 / that value already existed as an intrinsic property of the company (eg. NAV)
Upon what is this based in a world where no long-term investors exist?
Even in the "DCF of dividends plus NPV of terminal enterprise value" model, the last is dependent on long-term investors. (For the high number of tech and high-growth companies who pay no dividends, the first term in the valuation is $0.)
Upon what is this based in a world where no long-term investors exist?
Even in the "DCF of dividends plus NPV of terminal enterprise value" model, the last is dependent on long-term investors. (For the high number of tech and high-growth companies who pay no dividends, the first term in the valuation is $0.)