Mr. Butler is the founder of Valtrend, LLC. Peter is the inventor of the Total Cost of Equity Calculator (aka the Butler Pinkerton Calculator) to better quantify discount rates for privately-held companies. This Calculator helps Valtrend and other leading appraisal companies form opinions that are more empirical: less subjective™.
Peter is also a co-developer of the Implied Private Company Pricing Line/Model (the “IPCPL”) – another useful tool for business appraisers to use to help select a cost of capital in the income approach to valuation.
Qualifications
Peter has earned the prestigious Chartered Financial Analyst (CFA) designation awarded by the CFA Institute in Charlottesville, Virginia. The rigorous education and training required in pursuit of this designation is very useful when analyzing company risks as well as applying complex financial theory to unique engagements. The following is an independent opinion on the value of the CFA:
The Chartered Financial Analyst (CFA) qualification is roughly equivalent to a specialized postgraduate finance degree, including a mixture of economics, ethics, law, and accountancy. It is much liked by employers in financial services. Whereas there are tens of thousands of finance degrees available around the world, ranging from the excellent to the worthless, there is only one CFA, managed and examined by an American association of financial professionals, the CFA Institute...The Economist, 2/26/2005
Valtrend employs two of the only three CFAs in the state of Idaho who perform private company valuations. For more information on the CFA, please see www.cfainstitute.org.
Mr. Butler also holds the designation of Accredited Senior Appraiser (ASA) in business valuation sponsored by the American Society of Appraisers. The American Society of Appraisers is an international organization of appraisal professionals and others interested in the appraisal profession. ASA is the oldest and only major appraisal organization representing all of the disciplines of appraisal specialists. Peter is one of only four ASAs in the state of Idaho who perform business valuations. For more information on the ASA designation, please see www.appraisers.org.
Previous Experience
Prior to founding Valtrend, Peter worked as a financial consultant, assessing alleged damages in complex and high-stakes securities class action litigation; as a venture capitalist; and as an appraiser, valuing privately-held firms and quantifying alleged economic damages in commercial litigation.
Peter also served his country honorably for approximately eight years as a naval officer (United States Naval Academy graduate). Mr. Butler was navigator and electrical officer onboard the USS Cushing (DD 985), a Spruance Class destroyer, and was a teacher of gas turbine engineering and leadership principles while on shore duty.
Contribution to the Business Valuation Industry: Inventor, Author, Public Speaker/Teacher
Through the end of 2016, Peter will have taught cost of capital seminars to more than a thousand of his peers at numerous national, regional and state-sponsored business valuation conferences, including one international conference.
Mr. Butler is also a prolific author. He has been the primary author on multiple valuation topics in many of the most respected journals in the business valuation industry (Please see the Peter's Publications page). Peter also had a recurring column in the Idaho Business Review titled, "For What It's Worth", as well as for the Idaho Society of CPA's online newsletter, the Adjusting Entry.
Mr. Butler has become a thought-leader in the business valuation industry, having led an industry-wide innovation known as the Total Cost of Equity Calculator and/or the Butler Pinkerton Calculator. Peter developed the initial idea, is the primary author on numerous articles, and continues to deliver presentations across the country on the topic. The Calculator allows fellow appraisers to assign a cost of equity capital to a privately-held company in a More Empirical: Less Subjective™ manner - something the courts have been clamoring for.
Please see a highly respected appraiser's thoughts on the Calculator:
The Calculator is a tool that every valuation analyst must have in his or her toolbox. I believe it is a tool that is a must have for all of us. This is perhaps one of the best contributions to our profession in a long time.
- Gary Trugman, CPA/ABV, MCBA, ASA, MVS
President, Trugman Valuation Associates
For more information on this empirically-driven industry innovation, which appraisers across the United States as well as appraisers in international circles (Canada, Europe, and Asia) are using, please go to www.bvmarketdata.com and click on the "Butler Pinkerton Calculator" tab.
Associations
Peter has been an Adjunct Faculty Professor of Finance in the MBA program at George Fox University (www.georgefox.edu) from 2010-2012.
Mr. Butler is also a Galliard Group Certified Family Business Advisor. Please see www.galliardgroup.com for more information on "Generations of Business Success".
Education
- MBA (finance concentration), San Diego State University
- B.S., Mechanical Engineering, United States Naval Academy
Professional Affiliations
- American Society of Appraisers
- CFA Institute
- CFA Society of Idaho (Former secretary, treasurer, vice president/program chair, university relations and president for four terms)
Community Involvement
- Blue and Gold Officer for the U.S. Naval Academy (Assess interest and aptitude of high school students to attend Annapolis and serve in the fleet as naval or marine officers/leaders).
- Little league baseball umpire
For more personal information about Mr. Butler, please see the 2015 Money Maker Award.
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