Valuation

Valuation of Complex Derivatives and Securities

Valuation of Complex Derivatives and Securities

Understanding the economics of valuation is essential in all but the simplest of settings. NERA provides valuation expertise in three general contexts: business valuation, tangible asset valuation, and financial asset valuation.

In the context of business and tangible asset valuation, NERA has utilized valuation methodologies which are based on company comparables and earnings multiples, the values of other assets from the same company or portfolio, financial modeling and estimation of the company's future cash flows, and comparisons to valuations of benchmark assets in the public domain.

For financial and quasi-financial assets and derivatives contracts, our valuations techniques leverage generally accepted discounted cash flows and mark-to-market methods, derivatives option models, real options techniques, probability-weighted and dynamic cash flow models, custom simulation models, reference/inference-based comparables approaches, and zero-arbitrage calculation techniques. Our experience in a variety of asset classes allows us to quickly assess market specifics, identify important and potentially unique valuation characteristics of the asset, assess the impact of market economics on market value, and use defendable, industry standard methods to derive a fair valuation. With the ability to combine economics, finance, statistics, and econometrics, NERA’s experts can execute valuation methods that go beyond traditional approaches to valuation, especially in cases where historical data and other valuation benchmarks are either unavailable or considered inadequate.

Name Title Location Phone Email
Dr. Andrew Carron Chairman New York City
London
+1 212 345 5407
+44 20 7659 8500
andrew.carron@nera.com
Lucy P. Allen Managing Director New York City +1 212 345 5913 lucy.allen@nera.com
Dr. Anne Gron Managing Director Chicago +1 312 573 2850 anne.gron@nera.com
Dr. Vinita Juneja Managing Director
Chair of NERA's White Collar, Investigations and Enforcement Practice
New York City
London
Toronto
+1 212 345 3148
+44 20 7659 8618
+1 416 868 7314
vinita.juneja@nera.com
Dr. Denise Neumann Martin Managing Director New York City +1 212 345 5296 denise.martin@nera.com
Dr. Faten Sabry Managing Director
Bankruptcy Practice Chair
New York City
London
+1 212 345 3285
+44 20 7659 8618
faten.sabry@nera.com
Kurt G. Strunk Director New York City +1 212 345 5035 kurt.strunk@nera.com
Timothy McKenna Associate Director New York City +1 212 345 5503 timothy.mckenna@nera.com
Dr. Jordan Milev Associate Director New York City +1 212 345 5516 jordan.milev@nera.com
Robert Patton Associate Director Toronto
London
New York City
+1 416 868 7318
+44 20 7659 8620
+1 212 345 3269
robert.patton@nera.com
Raymund Wong Associate Director New York City +1 212 345 9361 raymund.wong@nera.com
Dr. Airat Chanyshev Senior Consultant New York City +1 212 345 7336 airat.chanyshev@nera.com
William P. Hrycay Senior Consultant New York City +1 212 345 1518 william.hrycay@nera.com
Gary Lambert Senior Consultant London +44 20 7659 8652 gary.lambert@nera.com
Dr. James Overdahl Affiliated Industry Expert Washington, DC +1 202 547 3035 joverdahl@deltastrat.com
Dr. James Jordan Affiliated Consultant Washington, DC +1 202 466 9263 james.jordan.affiliate@nera.com
Title Type Author
PDVSA’s Peculiar Oct. ’22 Bond May Carry Elevated Risks Report By Timothy McKenna and Raphael Starr