Profiles

Valuation of businesses must be based on appraisement, investment appraisal, and— terra incognita in Austrian economics—negotiation. Discounted cash flow and "relative valuation" methods are well-suited for negotiation purposes.

Contrary to the Austrian community’s former perception, we revealed value investing’s incompatibility with Austrian economics

This article attempts to illustrate what makes value investing incompatible with Austrian economics and, hence, to terminate a lingering myth.

This paper explores the implications of Mises’s theory of economic calculation for asset acquisitions and disposals, especially the acquisition and disposal of entire business enterprises.