1. Discuss the use of multiples as a means of estimating value and describe the process for applying multiples.
2. Explain how companies with substandard financial history can draw the attention of investors. Are investors irrational or naieve?
3. Explain how a growing company can starve itself to death.
4. Discuss how managements' discretion in applying accounting rules can mislead investors. Provide three examples and how the discresion can distort results.