Simon Stoeferle

Youtube Linkedin Envelope Table of Contents In private equity and portfolio management, “alpha” is considered the key performance indicator: it represents the value added that a fund or company generates beyond the market. Yet in the classic single-index model (CAPM), this alpha does not appear explicitly at all. This raises the question: how exactly are […]

Youtube Linkedin Envelope Table of Contents Have you ever wondered why, when calculating the standard deviation, we sometimes divide by 𝓷 and sometimes by 𝒏-1? We are happy to explain this using the formula PDF. Download the formula PDF Population standard deviation If you know all the data of a population, you calculate the standard

Youtube Linkedin Envelope Table of Contents In corporate planning practice, the cash flow statement has often been neglected to date, even though it represents a central instrument for ensuring the consistency of integrated corporate planning and for deriving valuation-relevant cash flows. This article addresses this gap by systematically elaborating on the relevance and diverse applicability

Youtube Linkedin Envelope Table of Contents In an increasingly volatile and crisis-prone world, traditional deterministic management planning is reaching its limits. Target-value-oriented planning systematically ignores risks and uncertainties, which has significant consequences for the management, monitoring, and valuation of companies. With the Practical Handbook on Expectation-Consistent Planning, the first practical guide is being published that

Youtube Linkedin Envelope Table of Contents Exactly 100 years ago, in 1925, Werner Heisenberg published his groundbreaking article: 👉 “On the Quantum-Theoretical Reinterpretation of Kinematic and Mechanical Relations” Without these foundations of quantum mechanics, key technologies of our time would be inconceivable: lasers, MRI, mobile communications, computers—even quantum computers. 🎲 Randomness Instead of Determinism: The

The semi-standard deviation (also downside deviation) measures the dispersion below a reference value (usually the mean or a target return such as 0%).

Many reluctantly recall their statistics lectures: formulas, variance, standard deviation – and the question: What’s the point of it all? However, standard deviation holds a real treasure: it is a central tool in modern risk management.

When valuing companies using discounted cash flows (DCF), accuracy is crucial—especially when discounting the Terminal Value (TV).

Small and medium-sized enterprises (SMEs) are the backbone of the German economy – yet when it comes to their valuation, practice often misses the mark…

The long-awaited 12th edition of the standard work “Fundamentals of Corporate Finance” will be released mid-year.