"This new and updated edition presents a consensus view from 30 top valuations experts. It shows the appropriate and defensible way to prepare and present business valuations with a strong emphasis on applications and models"--

We provide evidence on the valuation of equity positions by hedge fund advisors. Reported valuations deviate from standard valuations based on closing prices from CRSP for roughly seven percent of the positions. These deviations are economically significant for about 25 percent of the hedge fund...