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"I know when we had the valuation on the flat, and we found out that we had lost so much money, it was hard to swallow".
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But as they face multiyear lock-ins on their stock, they cannot afford to have the valuation suffer.
But if you're looking at emerging markets, one of the things you need to do is weigh where has the valuation gone, relative to the risk?
No fundamental analyst could ever read Tesla's SEC filings, bang out a spreadsheet, and then have the valuation cell read $61.7 billion.
"Having the valuation done ahead of time and sharing that information with your partner is a really good step to keep things as clean as possible if things fall apart," Chung said.
The technology advances of recent years have been quite remarkable, and so have the valuations put on startup companies.
"In every discussion I've had with Microsoft, the valuation ballpark has been forty million.
Nor do hedge funds have the right valuation skills, say other private-equity bosses.
Goldman, with a staggering 33% return on equity last year, has the highest valuation.
Companies marketing evolutionary applications have the least valuation uncertainty; those marketing revolutionary developments have the most.
Cummins' rationale: Unimarc has the lowest valuation of Latin food retailers but one of the highest operating margins.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com