“Thanks for this great tool! Your approach for estimating DLOM is sound, easy-to-understand, supportable, and defensible. It provides a rational basis for interpreting market behavior in a time when the validity of the traditional model is appropriately being challenged. I found the documentation for the VFC DLOM Calculator concise and well-written. The Calculator itself was exceptionally fast and easy to use. This tool definitely raises the bar and represents a much-needed step forward for the profession. I highly recommend this calculator to any valuator or analyst who is in it to win it!”
“As someone who has always been very interested in discounts for lack of marketability, I was very fortunate to have the opportunity to get to know Marc Vianello and learn more about his VFC DLOM Calculator. The field of DLOM estimation has been moving toward a more “fact-based” and quantitative approach for some time now, and the VFC DLOM Calculator represents the next step in this evolution.
By bringing together real-world, private company marketing period data and user-defined (and company relevant) volatility measures within an option-pricing model format, the VFC DLOM Calculator is a probability- based tool that valuation professionals can use to greatly enhance the credibility of their analyses. I especially like the ability to slice and dice the private company data in order to find the most relevant characteristics applicable to my subject company. Similarly, the tool for identifying trading volatility measures by individual ticker symbol is very convenient and easy to use.
Because the marketing time statistics come from actual sales of privately held businesses, I find the VFC DLOM Calculator particularly useful when determining illiquidity discounts for controlling interests. And I’m eager to see the other enhancements (e.g. the Rule 144 Stock Calculator) that Marc has in store for us. In the short time that I’ve been using this tool, I’ve been very impressed with its flexibility and ease of use. I want to thank Marc for giving us a DLOM tool that not only focuses on what I think are the two most critical pieces of the DLOM calculus – Holding Periods and Price Volatility, but also provides the empirical data to support it. It’s about time!”
“The VFC DLOM calculator allows the business valuer to use probability based information to determine a DLOM range or a specific DLOM considering real world data and subjective judgment by a qualified appraiser. It is a powerful tool for a business appraiser.”