Speeches & Presentations

Valuation Discounts and Appraisals Under the Proposed Sec. 2704 Regs
Redwood Empire Estate Planning Council, November 2, 2016

Forget Everything You Thought You Knew About Discounts!
ASA/CICBV Advanced Business Valuation Conference, October 27, 2014.

Risks and Rewards of Using Control Premiums under the Appraisal Foundation’s MPAP Guidance
ASA Advanced Business Valuation Conference, September 13, 2016

The Direct Approach in Action when Valuing Private Minority Interests
University of St. Thomas and the Minnesota Association of Business Valuation Professionals, April 29, 2016

Estate and Gift Tax Valuations in the Wine Industry
Wine Industry Financial Symposium, September 22, 2014

Time to Abandon Discounted NAV?
Why the income approach should be the cornerstone for valuing all private minority interests
Business Valuation Resources, Webinar September 18, 2014

Private Minority Interests Do Not Trade Based On Discounts
American Society of Appraisers, Webinar March 25, 2014

Is Overvaluation A Problem For Private Companies?
Webinar presentation to the Financial Executives Networking Group (FENG) in collaboration with AppFolio SecureDocs, 2012

Business and Asset Valuation – for Yourself and your Clients
Evolving business valuation standards and their impact on estate and gift tax valuations.
Current business valuation controversies and why you and your clients need to know about them.

Large-scale conference call in collaboration with Northwestern Mutual and Strategic Planning Associates, 2012

Buy-Sell Catastrophes and How to Avoid Them: Recent Changes in Business Valuation Standards and How They Will Affect Your Business
Parallel Advisors Speaker Series, 2012

Determining the Cost of Equity for Privately Held Companies
Alternatives to the modified CAPM and build-up methods
San Francisco Business Valuation Roundtable, 2011

Best Practices Regarding Control Premiums in Financial Reporting
Response to the Appraisal Foundation’s white paper on control premiums: Why it is a mistake to use control premiums under any circumstances
ASA/CICBV Advanced Business Valuation Conference, 2010

Proposal for a New ASA Standard on Valuing Private Minority Ownership Interests
(Procedural Guidelines 2)

San Francisco Business Valuation Roundtable, 2007

CAPM Critique – Cost of Capital Mania: Let’s Get Ready to Rumble
National Association of Certified Valuation Analysts’ Annual Conference, 2006

Appraiser Liability under Circular 230 and Section 6701 – A Report on the IRS Symposium
San Francisco Business Valuation Roundtable, 2006

Partial (Undivided) Interest Discounts in Real Estate
National IRS Symposium, 2006

How to Discount for Trapped-In Capital Gains Tax
Business Valuation Resources – Webcast, 2006

Proposal to Develop a Multi-Investor Rate of Return Survey (“MIRORS”) as a Superior Alternative to using CAPM for Cost of Equity
San Francisco Business Valuation Roundtable, 2005

How to Fool a Judge – A Critical Review of the Peracchio Case
San Francisco Business Valuation Roundtable, 2004

Control Premium High Jinks
American Society of Appraisers, International Conference, 2003
Business Valuation Roundtable of San Francisco – annual conference, 2003

Advanced Issues in Developing Discounts and Premiums
Center for Advanced Valuation Studies (two one-day courses), 2002

Guideline Public Companies and the Value Elevator
Institute of Business Appraisers Annual Business Valuation Conference, 2002

What’s your Company Really Worth Today?
Venturewire Executive Summit – Raising Follow-on Capital, 2002

Appraisals – Are They an Art or a Science?
Northern California Planned Giving Council, Masters Program, 2001

Levels of Value – A Panel
American Society of Appraisers, Advanced Business Valuation Conference, 2001

Advanced Issues in Using Discounts for Estate Planning
Estate Planning Council of Santa Rosa, 2000

Partial Interest Valuation
The Appraisal Institute, Annual Fall Conference, 1998

The Availability of Minority and Marketability Discounts in Family Limited Partnerships
National Business Institute, 1997

How Public Stocks Can Represent Control Value: Let’s Get Down to Cases
San Francisco Business Valuation Roundtable, 1997
Los Angeles ASA Business Valuation Roundtable, 1996

Business Valuation and the American Society of Appraisers; The Role of Certified Appraisals in Estate Tax Cases; Fractional Interest Discounts
Internal Revenue Service Training Program, San Francisco Appraiser/Engineer Conference, August, 1995

Is the ‘Levels of Value’ Concept Still Viable? (answer: no)
International Business Valuation Convention, American Society of Appraisers, 1995

Private Company Discounts in Estate Planning
South Alameda Estate Planning Council, 1994
Peninsula CPA-Bar Association, 1993
Modesto Estate Planning Council, 1993

Reconsidering Market Data on Control Premiums
Advanced Business Valuation Conference, American Society of Appraisers, 1991

Emerging Company Valuation Techniques
Northern California Venture Capital Association, 1991

Control Premiums and Minority Interest Discounts in Private Companies
Business Valuation Association of Chicago, 1990
San Francisco Business Valuation Roundtable, 1990

Valuing a Private Company
Approximately 60 speeches throughout California to groups of business owners, 1986 through 1990