Financial valuations can be done with different degrees of input. There are high level valuations, desktop valuations and detailed valuations. There are a number of valuation methodologies currently in operation, from earnings multiple and dividend growth valuations, to discounted cash flow and real option valuations. No single valuation method is appropriate in every circumstance, and the nature of the investment being valued will determine the most appropriate valuation methodology to employ. So-called "new economy" transactions have introduced a complex set of new valuation principles. Multiples of subscribers, turnover, site hits and other business criteria have given rise to confusing and, sometimes, unrealistic valuations, which are often explained by all kinds of unfathomable value hypotheses.