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Narrative and Numbers
Book

Narrative and Numbers

The Value of Stories in Business

Aswath Damodaran
Columbia UP, 2017

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Editorial Rating

8

Qualities

  • Analytical
  • Applicable

Recommendation

Numbers are nothing without a story, and a story needs numbers to back it up. So says New York University finance professor Aswath Damodaran in this illuminating guide to valuing companies. He offers step-by-step instructions on figuring out how much you should pay for shares in Amazon, Uber or any other enterprise. Damodaran provides an intriguing, insightful look into combining number crunching with storytelling. While never giving investment advice, getAbstract recommends his manual to investors and managers seeking to master the use of storytelling in investing.

Take-Aways

  • Neither statistics nor words alone can convey the full picture of a business and how much an investor should be willing to pay for a share of it.
  • Investors and managers must bridge the divide between numbers and narrative. For this, a business needs intriguing storylines to tell its investors, customers and employees.
  • The rise of big data pushes storytelling aside in surprising ways.

About the Author

Aswath Damodaran is a professor of finance at New York University’s Stern School of Business. His books include Applied Corporate Finance and The Little Book of Valuation.

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