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To: Pirah Naman who wrote (35905)	12/3/2000 5:51:50 PM
From: Thomas Mercer-Hursh	Respond to of 54805

What disturbs me, however, is the recurring suggestion in this forum that many people will be unable to understand the math. That kind of talk tends to reinforce a psychological barrier to trying something that is well within the reach of most. I know that it is well within the reach of most because I have successfully taught it to folks who have had math skills which were sorely lacking. I've had my own pedagogical successes in this vein as well ... even to the extent of teaching differential calculus successfully to someone who had failed miserably for years to grasp even the slightest comprehension. But, I've also had my failures too! More to the point, people who read this thread are unlikely to be making themselves available for special tutoring so, if they think they can't do it now, this is likely to be an accurate self-fulfilling prophecy. People should not feel, and should not be made to feel, that a DCF analysis is something only a "valuation expert" or math whiz can do. I heartily agree and wish that more people would get more intimate with their data since they are then likely to understand it better. All I am saying is that some people believe they are not capable of doing so and those people need to be guided in the direction of sound intuitive evaluation rather than having them get discouraged from paying any attention to the numbers at all.

To: Pirah Naman who wrote (35905)	12/3/2000 7:10:28 PM
From: Mike Buckley	Read Replies (3) \| Respond to of 54805

Pirah, People should not feel, and should not be made to feel, that a DCF analysis is something only a "valuation expert" or math whiz can do. I agree with that with the exception that I believe the issue of people being "made" to feel anything is irrelevant. People feel what they want to of their own accord. I would add to your thinking that we should encourage people to learn how to do a DCF because it is well within anyone's grasp and attention span who can absorb the manual. Where Thomas and I apparently agree is that a lot of people simply don't want to take the time to learn how to run their own DCF or won't take the time for whatever reason that is their choice to make. Once we accept their right to do that, you'll find me saying, "I undertand. That's your choice to make. I wonder if I can at least convince you to use a DCF model in a spreadsheet that's already prepared." 'Nuff said? --Mike Buckley