Value Investing in Technology (Online)

Become an astute investor for profitable growth

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Course Dates

STARTS ON

November 3, 2022

Course Duration

DURATION

6 weeks, online
4–6 hours per week

Course Fee

PROGRAM FEE

US$2,600 US$2,210 or get US$260 off with a referral

Course Information Flexible payment available

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Maximize Your Returns with the Nuances of Investing in Tech-Based Organizations


Technology-driven organizations hold the potential for robust growth and substantial returns. However, economic, business, and industry factors can all impact their valuation, so investing in digital requires a nuanced understanding of how these businesses operate — and the inherent opportunities and risks they present.

Designed around the value investing strategy popularized by Warren Buffet and led by Tano Santos, this program will verse you in the application of proven frameworks and modern valuation protocols to help you select the right technology investments for maximum returns on capital.

157%

Increase in global funding for technology startups in 2021 from the previous year

Source: CB Insights

$3.3 Trillion

Collective loss in market capital suffered by the big tech organizations: Meta, Apple, Microsoft, Alphabet, Amazon, and Netflix, accounting for one-third of the total $9 trillion loss in the S&P 500 during the first half of 2022

Source: S&P Global

Key Takeaways

By participating in the program, you will be able to:

  • Understand the key differences in the valuation of technology-led organizations and non-technology-led organizations that are dependent on physical assets
  • Estimate an organization’s asset value, earnings power value, and marginal ROIC as part of the modern valuation protocol
  • Make educated stock selections by learning how business, industry, and economic factors impact the modern valuation protocol
  • Examine the unique characteristics of technology organizations that create barriers of entry into the market and thus present beneficial investment opportunities
  • Become a strategic investor by applying the value-investing approach to make informed decisions on technology investments, even in times of crisis

Who Should Attend?

Mid-level finance professionals interested in learning about and pursuing investments in technology and digital organizations and diversifying their portfolios. Roles that will benefit the most include:


  • Individual investor
  • Asset/fund manager
  • Investment analyst

Senior-level professionals looking to understand the ideation methods for investing in a digital organization and drive tech investments for their organization or offer better investment solutions for their clients. Roles that will benefit the most include:


  • Entrepreneur
  • Chief financial officer
  • Chief investment officer
  • Consultant

Program Modules

Module 1:

The Valuation of Tech

Introduction to a modern valuation method, uniquely positioned to estimate the return on invested capital (ROIC) of organizations in the technology industry. Learn the key differences between the valuation of technology-led versus traditional organizations.

Module 2:

The Economics of Tech: Meta

Learn the steps of the modern valuation protocol by examining Meta, and understanding the role of intangible assets, such as the customer and product portfolio, in an organization’s valuation.

Module 3:

The Cloud Transforms Business: Adobe

Discover how the Cloud reshaped the business model for many technology organizations, and evaluate Adobe by applying modern valuation frameworks.

Module 4:

The Cloud Transforms Industry: Salesforce

Analyze how Salesforce took advantage of the Cloud to force transformation of the industry. Then, revisit the valuation model and explore concepts such as organic growth and growth stocks.

Module 5:

Industry-Level Technological Disruption: PayPal

Reviewing a PayPal case study, learn about the payments industry, and understand the importance of economic, industry, and business factors in valuation to reach an informed assessment of a technology stock.

Module 6:

Investing in Crises: Booking

Learn and apply the framework to evaluate trends, shocks, and disruption by analyzing Booking and how the online travel agency responded during the COVID-19 pandemic.

Module 1:

The Valuation of Tech

Introduction to a modern valuation method, uniquely positioned to estimate the return on invested capital (ROIC) of organizations in the technology industry. Learn the key differences between the valuation of technology-led versus traditional organizations.

Module 4:

The Cloud Transforms Industry: Salesforce

Analyze how Salesforce took advantage of the Cloud to force transformation of the industry. Then, revisit the valuation model and explore concepts such as organic growth and growth stocks.

Module 2:

The Economics of Tech: Meta

Learn the steps of the modern valuation protocol by examining Meta, and understanding the role of intangible assets, such as the customer and product portfolio, in an organization’s valuation.

Module 5:

Industry-Level Technological Disruption: PayPal

Reviewing a PayPal case study, learn about the payments industry, and understand the importance of economic, industry, and business factors in valuation to reach an informed assessment of a technology stock.

Module 3:

The Cloud Transforms Business: Adobe

Discover how the Cloud reshaped the business model for many technology organizations, and evaluate Adobe by applying modern valuation frameworks.

Module 6:

Investing in Crises: Booking

Learn and apply the framework to evaluate trends, shocks, and disruption by analyzing Booking and how the online travel agency responded during the COVID-19 pandemic.

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Program Experience

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Real-world examples

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Knowledge checks

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Discussions

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Hands-on activities

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Peer learning

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Mobile learning app

Decorative image relating to weekly assignments

Weekly assignments

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Dedicated program support

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Live office hours

Adding Value to Your Experience

Case Studies

Bite-sized case studies covering well-known technology organizations will give you the opportunity to learn real-world applications of valuation frameworks across a wide range of industries. Each case will be reviewed using Professor Santos’s own valuation calculations.

Decorative image relating to Meta

Meta

Decorative image relating to Adobe

Adobe

Decorative image relating to Salesforce

Salesforce

Decorative image relating to PayPal

PayPal

Decorative image relating to Booking

Booking

Hands-On Activities

The six modules will culminate in a workbook, so learners can practice components of the valuation protocol and examine similar companies using the frameworks and protocols covered in the program.

Program Faculty

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Tano Santos

Robert Heilbrunn Professor of Asset Management and Finance Director, The Heilbrunn Center for Graham & Dodd Investing

Tano Santos is an expert in value investing at Columbia Business School... More info

Certificate

Example image of certificate of participation that will be awarded upon completion of the program

Certificate

Upon completion of this program, you will receive a certificate of participation from Columbia Business School Executive Education, which also counts toward two days for the Certificate in Business Excellence.

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This certificate also counts toward two days for the Certificate in Business Excellence, which grants select alumni and tuition benefits. Your verified digital certificate of completion will be issued in your legal name and emailed to you at no additional cost upon completion of the program, as per the stipulated requirements. All certificate images are for illustrative purposes only and may be subject to change at the discretion of Columbia Business School Executive Education.

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Flexible payment options available. Learn more.