# Dlom

`kaal:entity:dlom`

**Status.** derived

This node is assembled mechanically from the 3 claims that carry the concept tag `dlom`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

3 claims across 1 works, 2022 to 2022.

**2022**

- [4033886-023](https://wulfkaal.github.io/claims/4033886-023) [failure/argued] *(failure mode)* -- Put option based discount models for lack of marketability have been widely used, but they can be inaccurate because real investors do not possess perfect market timing ability.
  > This model has been widely used by market participants to determine the discount on nonmarketable security. However, this method can be inaccurate because investors do not have perfect market-timing ability.102
  Wulf A. Kaal, Samuel Evans, Hayley Howe, Digital Asset Valuation (2022). SSRN: https://ssrn.com/abstract=4033886
- [4033886-024](https://wulfkaal.github.io/claims/4033886-024) [failure/argued] *(failure mode)* -- The Longstaff model's assumptions are inconsistent with reality on two fronts: investors do not have perfect timing, and its assumed volatility of ten to thirty percent is far below the volatility exceeding fifty percent typical of small stocks.
  > The Longstaff model's underlying assumptions are inconsistent with the reality of perfect timing as well as the assumed volatility level between ten to thirty percent, yet small stocks typically have volatility exceeding fifty percent.113
  Wulf A. Kaal, Samuel Evans, Hayley Howe, Digital Asset Valuation (2022). SSRN: https://ssrn.com/abstract=4033886
- [4033886-025](https://wulfkaal.github.io/claims/4033886-025) [failure/evidenced] *(failure mode)* -- A major shortcoming of the QMDM is that no court in any case has accepted it, although it has been mentioned explicitly in three tax cases decided in 2000, 2001, and 2006.
  > One major shortcoming of the QMDM is that it has not been accepted by any court in any case, but has been mentioned explicitly in three tax cases from 2000, 2001, and 2006.119
  Wulf A. Kaal, Samuel Evans, Hayley Howe, Digital Asset Valuation (2022). SSRN: https://ssrn.com/abstract=4033886

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/dlom.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.