deletions | additions       diff --git a/section_textit_DDM_textit_RIM__.tex b/section_textit_DDM_textit_RIM__.tex  index 9e1b303..04d59fd 100644  --- a/section_textit_DDM_textit_RIM__.tex  +++ b/section_textit_DDM_textit_RIM__.tex 
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\\  \\  As a conclusion to this section, hereafter are the important ideas we wish to highlight before moving on to the cash-flow approach :   \\.\textit{PB-ROE} \\. The \textit{RIM}  is a simplified version derivation  of the the  \textit{DDM}\\. by  usingthe  clean surplus rule accounting  and introducing theconcept of  abnormal earnings, that introduces two parameters : $B_{t}$ is earnings concept  \\. The \textit{RIM} helps us better understand  the book notion of  value creation  andserves as an anchor to  the marlet relationshipe between value creation and  valuation \\. \textit{PB-ROE} is a simplified version of the \textit{RIM} the same way the \textit{GGM} is a simplified version of the \textit{DDM}.   \\. Valuation multiples are simple versions of multi-period discounting models and as such are very helpful as a starting point for stock selection (through screening for example).  $EV_{t}=\displaystyle\sum_{i=t+1}^{t+K}\frac{FCFF_i}{(1+R)^i}+EV_{t+K}$