THE PRIVATE MARKETS VALUATION SPECIALIST - COMPANION FILES
julianrsterling.com/valuation

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Revised 23 September 2026.

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WHAT IS IN THE ARCHIVE

1. The book's five workbooks, revised (what changed is at the end of 00_START_HERE.md)
   Market_Approach_and_Calibration.xlsx      Chapters 5, 7 and 14
   Income_Approach_and_Terminal_Value.xlsx   Chapter 6
   Equity_Waterfall_and_the_Bridge.xlsx      Chapters 8 and 9
   Credit_Marks_Across_the_Cycle.xlsx        Chapter 10
   The_Hardest_Judgment_Calls.xlsx           Chapter 11 and Appendix F
   00_START_HERE.md                          the order to open them in
   Fifty-one checks across the five files.

2. Blank_Model_Set/  (new)
   The same five workbooks with every input emptied, for your own assets.
   Each checks sheet counts what is still missing and tests what holds for
   any inputs. The book's figures are in book_inputs.txt.

3. Working_Documents.pdf  (new)
   Twelve printable pages: the valuation policy on one page, the quarterly
   calendar worked backward, the quarterly checklist, the valuation
   memorandum, the market approach link by link, calibration and the
   roll-forward, the terminal value review, the bridge to the security held,
   the credit mark, the hardest judgment calls, the valuation committee, and
   audit readiness with model control. A4, fits Letter.

4. Forty_Questions.xlsx  (new)
   Forty questions across the book, marked by the file as you type.

5. Cases/  (new)
   Case_1_The_Commitment_Nobody_Priced.xlsx      Chapter 11
   Case_2_The_Quarter_The_Currency_Hid.xlsx      Chapter 9
   Case_3_The_Contract_Lost_In_January.xlsx      Chapter 11
   Each case: the note on the first sheet, the model after it, checks at the end.

The files open in Excel, LibreOffice Calc, Google Sheets and Numbers. No macros.
