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	<title>Strategy @ Risk &#187; Mergers &amp; Acquisition</title>
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	<description>Understanding risk, creating value</description>
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		<title>What is the correct company value?</title>
		<link>http://www.strategy-at-risk.com/2009/02/15/what-is-the-correct-company-value/</link>
		<comments>http://www.strategy-at-risk.com/2009/02/15/what-is-the-correct-company-value/#comments</comments>
		<pubDate>Sun, 15 Feb 2009 14:25:20 +0000</pubDate>
		<dc:creator>S@R</dc:creator>
				<category><![CDATA[Mergers & Acquisition]]></category>
		<category><![CDATA[Acquisition]]></category>
		<category><![CDATA[Equity value]]></category>
		<category><![CDATA[M&A]]></category>
		<category><![CDATA[Mergers]]></category>
		<category><![CDATA[Price]]></category>
		<category><![CDATA[Valuation services]]></category>
		<category><![CDATA[Value]]></category>

		<guid isPermaLink="false">http://www.strategy-at-risk.com/test/?p=371</guid>
		<description><![CDATA[Value is not the same as price. Price is what the market is willing to pay. Even if the value is high, most want to pay as little as possible.]]></description>
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		<title>The Probability of Gain and Loss</title>
		<link>http://www.strategy-at-risk.com/2009/02/11/the-probability-of-gain-and-loss/</link>
		<comments>http://www.strategy-at-risk.com/2009/02/11/the-probability-of-gain-and-loss/#comments</comments>
		<pubDate>Wed, 11 Feb 2009 17:22:39 +0000</pubDate>
		<dc:creator>S@R</dc:creator>
				<category><![CDATA[Mergers & Acquisition]]></category>
		<category><![CDATA[Acquisition]]></category>
		<category><![CDATA[Decision]]></category>
		<category><![CDATA[Investment]]></category>
		<category><![CDATA[M&A]]></category>
		<category><![CDATA[Mergers]]></category>

		<guid isPermaLink="false">http://www.strategy-at-risk.com/test/?p=311</guid>
		<description><![CDATA[Every item written into a firm’s profit and loss account and its balance sheet is a stochastic variable with a probability distribution derived from probability distributions for each factor of production.]]></description>
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		<title>Risk, price and value</title>
		<link>http://www.strategy-at-risk.com/2008/02/16/risk-price-and-value/</link>
		<comments>http://www.strategy-at-risk.com/2008/02/16/risk-price-and-value/#comments</comments>
		<pubDate>Sat, 16 Feb 2008 12:24:18 +0000</pubDate>
		<dc:creator>S@R</dc:creator>
				<category><![CDATA[Mergers & Acquisition]]></category>
		<category><![CDATA[Acquisition]]></category>
		<category><![CDATA[Investment area]]></category>
		<category><![CDATA[M&A]]></category>
		<category><![CDATA[Mergers]]></category>
		<category><![CDATA[Risk]]></category>
		<category><![CDATA[Safety margin]]></category>
		<category><![CDATA[Speculative area]]></category>
		<category><![CDATA[Stochastic simulation]]></category>

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		<description><![CDATA[Having arrived at the probability distribution for the value of equity (see full story) we are able to calculate expected gain, loss and their probability when investing in a company where the capitalized value (price) is known.]]></description>
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