Dan Watson, Ph.D
Adjunct Professor - Finance at Rice University - Jones Graduate School of Business- Claim this Profile
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Bio
Credentials
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Certified Valuation Analyst
NACVA
Experience
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Rice University
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United States
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Higher Education
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700 & Above Employee
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Adjunct Professor - Finance
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2011 - Present
**"Security and Asset Valuation"** Second year graduate course combining financial theory with case studies on topics including *Financial statement analysis and forecasting *Cost of debt and equity capital *Project financing *Capital structure risk and forecasting *Discounted cash flow, precedent transactions, and market comparables *Private equity and LBO valuation *Futures and options as a valuation tool *Implicit option valuation *Oil and Gas E&P case study Show less
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Accumyn Consulting
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United States
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Financial Services
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1 - 100 Employee
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Director
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2011 - Present
**Advisory and Deal Structure** Engaged by large industrial company whose business requires large volumes of dry natural gas over many years as part of its processes. Work included a review of deal structure, reserves and production purchased, and pricing of transactions undertaken by other large natural gas end users; other transactions in the areas of interest. Potential producer partners and assets were evaluated in detail on a field by field well level basis utilizing a wide range of both public and private information. The engagement resulted in a list of financially and operationally desirable target partners to be approached following management review. **Derivative Pricing/Complex Securities** Engaged by large industrial company to determine probability that selected "out of the money" executive stock options would be "in the money" as of specific future dates. Engaged as expert as part of a multibillion dollar transaction to examine the optionality of long term contracts existing between the two parties and place a value the contracts when viewing their terms as those of options. The options have a floating strike price, monthly exercise dates extending decades into the future, and a potential regulatory mandated exercise. **Bankruptcy/Capital Structure** Member of the Accumyn team assisting one of the parties subject to federal fines as a result of the Macondo oil spill. Examined the client’s capital structure and projected income to determine that both debt downgrade and bankruptcy were risks owing to the company’s debt which provided for coupon resets in the event of downgrade and slow recovery of drilling activity in the Gulf of Mexico. **Selected Other Engagements** *Supported testifying expert in state proceeding arising from financial market losses suffered by pipeline master limited partnership. *Testified before the Securities Exchange Commission in proceeding regarding pricing methodology for illiquid securities Show less
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Founder and Chief Investment Officer
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1987 - Nov 2011
*Chair of investment policy committee responsible for setting strategy for company's broad range of investment products *Chair of valuation committee, responsible for establishing the fair value of non- traded, illiquid securities in compliance with regulatory rules and accounting standards. *Created Bayesian default risk model for valuing illiquid bonds. *Direct oversight of equity portfolio management *Direct responsibility for developing and maintaining key account relationships Show less
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Tenneco
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United States
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Motor Vehicle Manufacturing
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700 & Above Employee
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Chairman-Tenneco Financial Services
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1982 - 1987
*Managed the merger of the investment operations of parent company's multiple life insurance operations into a single Houston based investment entity.*Managed integration of subsequent acquisitions*Structured and completed numerous project financings for parent company's industrial subsidiaries using financial subsidiary funds.*Developed and implemented strategy to bring management of significant portion of parent company's equity and fixed income pension fund assets in house; established indexed management approach which resulted in significant cost savings and improved performance Show less
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Assistant to the Chairman of the Board
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1978 - 1982
*Assisted the Chairman in performance of all of his responsibilities including acquisitions, divestitures, capital allocation, project review, divisional review, and corporate strategy.*Evaluated selected capital project proposals in E&P, Chemical, Pipeline and manufacturing operations*Led company's efforts in Washington, D.C. to secure desired changes in the Natural Gas Policy Act and related tax legislation.
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JPMorgan Chase & Co.
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United States
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Financial Services
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700 & Above Employee
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Analyst
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1971 - 1978
*Researched and wrote applications to Federal Reserve for approval of bank acquisitions by parent bank holding company *Researched and wrote applications for approval of de novo banks by state bank regulators *Speech writer for bank senior management *Researched and wrote applications to Federal Reserve for approval of bank acquisitions by parent bank holding company *Researched and wrote applications for approval of de novo banks by state bank regulators *Speech writer for bank senior management
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Education
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1973 - 1977
Rice University
Ph.D, Economics (Econometrics and Finance) -
1965 - 1970
Baylor University
B.A., Economics and History (Magna Cum Laude)
Community
