The business valuation profession has seen remarkable advances in terms of how appraisers approach their work during the past twenty years—thanks in large part to Jim Hitchner, Shannon Pratt, and Jay Fishman. These gentlemen had devoted a substantial portion of their careers to furthering a body of knowledge by which others in the profession have benefited. Be it in speaking or writing, their commitment continues, and we should all be quite grateful.
Recently this trio collaborated in answering some of the more challenging questions we face—on a daily basis—in valuing closely held businesses. With a view toward consensus, Hitchner, Pratt, and Fishman posed a series of questions that have oftentimes confounded business valuation appraisers.
Here are a few examples:
These questions were selected, one each from the four subject areas discussed in the book. The subject areas are as follows:
When the authors asked me if I would technically review...
