Lazard Deck
How do you handle currency in a DCF for a foreign target, and where does country risk enter?
Model answer
Golden rule: keep the currency of the cash flows and the currency of the discount rate consistent — a discount rate is built from a risk-free rate and inflation expectations in ONE currency. Two…
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More from Lazard Deck
- When and where was Lazard founded, and what was its original business?
- What were the three 'houses' of Lazard, and why do they matter to the firm's identity today?
- Who was Michel David-Weill, and what happened to Lazard's structure in 2000?
- Who was Felix Rohatyn, and what is he best known for?
- Who was André Meyer, and why does his name still come up at Lazard?
- How and when did Lazard go public, and who drove it?
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