PYMNTS

JANUARY 13, 2021

Although Affirm has 6,500 merchant relationships, Bloomberg points out that just 10 of them account for nearly 40 percent of its business. Read More On Affirm: Affirm IPO Now On Track To Raise More Than $1.1

Valuation 66

Valuation Concentration Startups Finance 66

PYMNTS

FEBRUARY 6, 2019

That fundraising activity brings the latest valuation of the firm to $10 billion. The money is concentrated, at least for now and at least in terms of where it is headed. But drill a bit deeper and the investments are revealed to be rather concentrated bets. And the commitment from the investors is substantial.

Valuation 49

Valuation Concentration Investments Retail 49

Musings on Markets

JANUARY 12, 2021

I end the class with a corporate finance version of valuation, where I tie inputs into value (cash flows, growth and risk) to investment, financing and dividend decisions. Valuation : It is unfortunate, but for most people, the vision that comes to mind when I say that I teach valuation is excel spreadsheets and high profile company names.

Valuation 52

Valuation Corporate Finance Finance Investments 52

Musings on Markets

JULY 17, 2023

The best performing industry group is auto & truck, but those results are skewed upwards, with one big winner (Tesla) accounting for a large portion of the increase in market capitalization in the sector. trillion in the first six months of 2023, 97.2% trillion increase in value for all US equities.

Marketing 98

Marketing Treasury Currencies Valuation 98

PYMNTS

JANUARY 12, 2020

Sujith Narayanan and Sumit Gwalani, both co-founders of Google Pay India — formerly called Google Tez — said the seed funding brings the neo-bank startup epiFi to a valuation of roughly $50 million. When we were building Google Tez, we realized that a consumer’s financial journey extends beyond digital payments.

Concentration 40

Concentration Startups Valuation Financial Systems 40

Barry Ritholtz

SEPTEMBER 3, 2024

I think actually if you go public, there tends to be a more of a concentration in owners holding founder 00:17:41 [Speaker Changed] Stock. But there’s always gotta be some element of the valuation really being compelling. But maybe second to valuation as a primary consideration. It’s about 80%.

Investments 59

Investments Valuation Concentration Marketing 59

Musings on Markets

JANUARY 9, 2021

To illustrate, consider a practice in valuation, where analysts are trained to add a small cap premium to discount rates for smaller companies, on the intuition that they are riskier than larger companies. It is very likely that these rules of thumb were developed from data and observation, but at a different point in time.

Valuation 52

Valuation Currencies Numbers Corporate Finance 52

Barry Ritholtz

AUGUST 16, 2022

And so, you know, it was a very interesting time to begin, which I did as an account executive at Shearson. TROPIN: I mean, you know, there were equity hedge funds that were pretty levered, that had pretty highly concentrated, you know, growth bets, and a lot of technology companies and so on. We’re not talking junk bonds here.

Profit and Loss 122

Profit and Loss Foreign Exchange Valuation Investments 122

Musings on Markets

DECEMBER 2, 2020

Setting the Table As with any valuation, the first step in valuing Airbnb is trying to understand its history and its business model, including how it has navigated the economic consequences of the COVID. The Valuation To value Airbnb, I will follow a familiar script, at least for me.

Profit and Loss 52

Profit and Loss Valuation Numbers Marketing 52

PYMNTS

AUGUST 13, 2018

Facebook Wants Access to User Bank Accounts. Facebook has reportedly had conversations with banks about giving Messenger access to user bank accounts. And never mind that consumers aren’t sitting on hold for hours these days with the bank waiting to get updated information on transactions and account balances.

Banking 44

Banking Transportation Investments Accounting 44

Barry Ritholtz

FEBRUARY 6, 2024

And I can tell you from personal experience, us finance people, we’re not great at accounting, legal, compliance, all the detail and stuff that, that keeps the firm running. You really like the long time where you have to hold to make up that valuation whole is so long that you just really shouldn’t be involved.

Valuation 52

Valuation Investments Finance Math 52

Barry Ritholtz

DECEMBER 19, 2023

And when they look at a sector, they want to be long, the very best stocks at the best valuations they can, and short the worst stocks at the worst valuations. I had never taken an accounting or a finance class. 00:22:29 [Speaker Changed] So less concentrated exposure. It, it was late in the process.

Healthcare 65

Healthcare Investments Construction Concentration 65

Barry Ritholtz

FEBRUARY 12, 2024

And since we’re looking for narratives as opposed, and then do valuation work second as opposed to cheap, we don’t screen. You’re outperforming, you’re, you’re putting up good numbers that’s on a concentrated portfolio and it’s 10, 15, 20 stocks are the drivers. Real really interesting.

Investments 118

Investments Marketing Numbers Entertainment 118

Barry Ritholtz

DECEMBER 6, 2022

And we’re having very good conversations with clients that I think, at current valuation levels, they remain, you know, very interested in the market and they see some opportunities. BERRUGA: It’s about the experiences of a prisoner in a Nazi concentration camp and it goes through like, you know, some of the challenges.

Investments 65

Investments Marketing Numbers Risk Management 65

CFO News Room

JANUARY 17, 2023

Consequently, I will concentrate this post on how this crisis is playing out in markets, and the effects it has had, so far, on businesses and investments, and whether these effects are likely to be transient or permanent. I revisited my valuation of the index, with the updated values: Spreadsheet to value the S&P 500.

Economics 130

Economics Valuation Treasury Forecasting 130

Barry Ritholtz

AUGUST 20, 2024

And so in the 1990s, I developed the, the late 1980s, early 1990s, I developed a skillset around valuation, in particular discounted cash flow or residual income type models, along with a couple of peers out of the consulting industry. It’s, it’s double concentrated risk. 00:18:19 [Speaker Changed] Right?

Concentration 69

Concentration Valuation Marketing Investments 69

Barry Ritholtz

AUGUST 15, 2023

In 1998, you asked famed value investor Michael Price what he learned from investing in Sunbeam Corporation, which was run by Chainsaw Al Dunlap and was just rife with accounting fraud. What’s the valuation? RITHOLTZ: I love this quote from a piece you wrote about risk. The whole thing ultimately collapses. RITHOLTZ: Right.

Investments 52

Investments Benchmarking Marketing Treasury 52

Musings on Markets

MARCH 19, 2022

Consequently, I will concentrate this post on how this crisis is playing out in markets, and the effects it has had, so far, on businesses and investments, and whether these effects are likely to be transient or permanent. Ukraine is also primarily a natural resource producer, especially iron ore, albeit on a smaller scale.

Economics 100

Economics Valuation Treasury Forecasting 100

CFO News Room

NOVEMBER 5, 2022

While private valuations have soared in recent years, public markets continue to be less kind to RIAs. In April, Charles Schwab introduced its Schwab Personalized Indexing platform, available to advisors and retail clients with a $100,000 account minimum. Enjoy the ‘light’ reading! Author: Adam Van Deusen. Team Kitces.

Mergers and Acquisitions (M&A) 130

Mergers and Acquisitions (M&A) Profit and Loss Investments Securities 130

CFO News Room

NOVEMBER 8, 2022

But we want it on the calendar so that we keep clients and ourselves accountable so that we make sure that those meetings actually do happen. So, last year, valuations were high, interest rates were low. ” And our staff confirms appointments two weeks out. And if folks are on vacation or whatever they need, they can reschedule.

Restructuring 130

Restructuring Planning Marketing Accounting 130

PYMNTS

SEPTEMBER 10, 2018

Uber Eats is an online delivery aggregator that links an existing Uber consumer’s account credentials with a service that delivers food to consumers from local restaurants. Uber Eats users concentrate 53.6 One of those is Uber Eats , which launched in 2014. It’s been reported that Uber Eats’ users spend , on average, $220.37

Transportation 58

Transportation Concentration Leverage Accounting 58

Barry Ritholtz

OCTOBER 24, 2022

And how do we think about them from a valuation perspective? And actually, that sweet, that collection of strategies, which is in the Morningstar alternatives fund is where a lot of our portfolio managers were turning to at the end of last year when, you know, fixed income is so poor on a prospective basis, equity, valuations are really high.

Investments 52

Investments Valuation Benchmarking Marketing 52

Barry Ritholtz

DECEMBER 12, 2023

Joel Tillinghast : Well, okay, G, when he was six, my grandfather, who was a bookkeeper accountant at a textile mill died and my grandmother was a second string violin at the Providence Symphony Orchestra, which didn’t pay well then, and I suspect didn’t pay well now. Let, let’s start with your background.

Benchmarking 106

Benchmarking Concentration Investments Profit and Loss 106

Barry Ritholtz

JUNE 13, 2023

And so we go back to the basics of what our job should be, risk underwriting, risk assessment, asset prices are different from asset valuation. I mean the valuation is the future cash flow discounted at a risk-free rate plus a risk premium. RITHOLTZ: So let’s talk a little bit about valuations relative to risk and reward.

Investments 59

Investments Banking Entertainment Marketing 59

Barry Ritholtz

APRIL 11, 2023

 The transcript from this week’s, MiB: Aswath Damodaran: Valuations, Narratives & Academia , is below. You’re known as the dean of valuation. He said, oh, dean of valuation, it’s easier to say. So let’s start with the question, what led you to focus on valuation? RITHOLTZ: Right. And I said, why?

Valuation 119

Valuation Education Numbers Finance 119

Musings on Markets

FEBRUARY 4, 2023

The India Rising story hit some turbulence last week, as one of its biggest corporate success stories, the Adani Group, was hit with a report from Hindenburg Research, an investing group that specializes in targeting and shorting companies that it believes have dubious accounting and business practices.

Investments 100

Investments Valuation Auditing Restructuring 100

CFO News Room

FEBRUARY 5, 2023

The India Rising story hit some turbulence last week, as one of its biggest corporate success stories, the Adani Group, was hit with a report from Hindenburg Research, an investing group that specializes in targeting and shorting companies that it believes have dubious accounting and business practices.

Marketing 130

Marketing Investments Auditing Profit and Loss 130

Musings on Markets

MARCH 15, 2025

In companies Changes in interest rates and risk premiums will affect the valuations of all companies, but assuming that the tariff announcements and government spending cuts will play out over the foreseeable future, there will be disparate effects across companies. The clearest loser from disruption is the status quo.

Investments 130

Investments Profit and Loss Valuation Economics 130

Barry Ritholtz

MARCH 26, 2024

We’re not market timers, we’re not traders in my personal account. But at around the midpoint of last year, you not only had the magnificent seven accounting for more than all the performance, but you had a record low percentage of the index outperforming the index itself. And you know, same thing at my firm.

Investments 59

Investments Marketing Concentration Economics 59

Musings on Markets

JANUARY 26, 2025

That "small cap premium" has found its way into valuation practitioners playbooks, manifesting as an augmentation (of between 3-5%) on the cost of equity of small companies. To get a sense of how market capitalization was related to returns, I classified all publicly traded US companies, by market cap, and looked at their returns in 2024.

Investments 76

Investments Marketing Economics Concentration 76

Barry Ritholtz

DECEMBER 10, 2024

These 10% are what’s driving the entire valuation. 00:16:27 [Speaker Changed] How much of what’s been going on in the 2020s has been a focus on that same top 10% of tech companies as being overly concentrated and wildly expensive. The parallels are that there is a concentration of interest.

Technology 52

Technology Manufacturing Investments Education 52

Barry Ritholtz

NOVEMBER 4, 2024

But I think the reality is right now, we just have an overhang from, I certainly in my world, I can speak to healthcare and FinTech, a number of companies going public and then disappointing or valuation just being excessive compared to the maturity of the businesses. I got that under being 60. And think about what you can’t do.

Healthcare 52

Healthcare Investments Numbers Marketing 52

CFO News Room

DECEMBER 12, 2022

The account is a “ biorisk consultant specialising in COVID-19 business continuity, forecasting, and analysis.”). * * *. * * *. * * *. * * *. December 5: • California data point (1): 1/ SARS-CoV-2 concentrations are skyrocketing in wastewater across California. Thread worth reading in full. Transmission. Stay safe when travelling.

Concentration 130

Concentration Accounting Numbers Healthcare 130

Barry Ritholtz

FEBRUARY 20, 2024

When you write a check, you get check float, it takes time for the checks to come back to the hit the treasury account. I think there are definitely commercial banks that are gonna have trouble due to their concentrated commercial office building portfolio. He said, oh, it’d take at least two or three weeks, really?

Treasury 59

Treasury Marketing Banking Economics 59

Barry Ritholtz

FEBRUARY 4, 2025

We underestimated the excess savings, meaning the money that you just mentioned came into people’s bank accounts. How do you think about valuations for both equities and fixed income here in the beginning of 2025? And what’s the reason why we didn’t get it was because we all underestimated fiscal policy.

Economics 103

Economics Finance Manufacturing Banking 103

Barry Ritholtz

JUNE 30, 2024

economy has been growing consistently for 2 years, even after accounting for inflation. She leads the company’s 50-person team of engineers, attorneys, and analysts, and is a member of the firm’s valuation & investment committees and board of directors. economy are often at odds with reality. In reality, the U.S.

Math 59

Math Concentration Benchmarking Valuation 59