Master Valuation Through Real Market Analysis
Financial markets don't follow textbooks. Our approach started when I watched analysts fumble DCF models during the 2023 tech correction. They knew the formulas but missed the bigger picture. That's what we fix here.
View Program DetailsLearning From Someone Who's Been There
I spent eight years working between Bangkok's financial district and regional equity desks. Saw enough valuation disasters to know where most training falls short.
Kieran Wallace
Lead Instructor & Program Developer
Started in equity research during the 2015 emerging markets turbulence. Learned valuation the hard way—through blown calls and late nights recalculating models. After working with analysts across Southeast Asia, I noticed a pattern. People could build complex models but struggled when companies didn't behave like the examples in their training.
So this program focuses on judgment alongside technique. How to value a company when its revenue recognition is questionable. What to do when comparable multiples make no sense. When to trust your DCF and when to question it.
We'll cover the mechanics, sure. But more importantly, you'll learn how to think through valuation problems the way experienced analysts do.
Three Core Approaches We Break Down
DCF With Context
Everyone learns discounted cash flow. Few understand when it actually works. We spend weeks on terminal value assumptions because that's where most models fall apart. You'll learn to spot the red flags—overly optimistic growth rates, WACC calculations that don't reflect real risk, working capital changes that ignore business cycles.
8 weeks intensive
Comparable Company Reality
Multiples analysis looks simple until you try it. Which peers actually compare? How do you adjust for different capital structures? What happens when the whole sector's overvalued? We use real case studies from ASEAN markets where picking the right comparables matters enormously.
Regional focus
Asset Valuation Nuance
Particularly relevant for property-heavy companies or distressed situations. Book value rarely tells the whole story. You'll learn when to revalue assets, how to assess liquidation scenarios, and why replacement cost matters more than historical cost in certain industries.
Specialist applicationNext Program Starts October 2025
We run two cohorts yearly. The autumn session begins mid-October and runs through February 2026. Class size stays small—maximum 18 participants—so everyone gets direct feedback on their work.
- Live sessions twice weekly, scheduled for Bangkok evenings to work with regional time zones
- Access to proprietary valuation models we've built over the past six years
- Real company case assignments drawn from recent IPOs and M&A deals
- Individual model review sessions where we go through your work line by line
- Private discussion group that stays active after the program ends
The content assumes you already know basic finance. You should be comfortable with financial statements and understand how to calculate cost of capital. If you're earlier in your career, check out our preparatory materials first.
See Full Curriculum