Reading 40- Mckinsey stuff on valuation

Hi all, I am wondering how you guys are finding the Mckinsey reading on Valuation in emerging markets? I am quite struggling with their complex formula to which I don’t see any explanation or intuition. Schweser seems to have simplified whole of the stuff, so would appreciate your thoughts. Best S

whoa cool - I didn’t know CFAI put that book in L2 material - thats awesome (seriously) I haven’t gotten that far yet though

Its only that chapter. They might have put their approach in residual income model though. S