Musings on Markets

JANUARY 12, 2021

I take the point of view that uncertainty should not stop you from valuing companies, that your value estimates will have more error in them, but since the market also faces the same uncertainty, your best bargains may be in the midst of uncertainty. That tells me three things.

Valuation 52

Valuation Corporate Finance Finance Investments 52

Musings on Markets

JANUARY 20, 2021

Investors are constantly in search of a single metric that will tell them whether a market is under or over valued, and consequently whether they should buying or selling holdings in that market. Risk premiums can and will change over time : Risk premiums are driven by risk aversion, and risk aversion itself can change over time.

Treasury 52

Treasury Investments Valuation Hurdle Rate 52

Barry Ritholtz

MAY 9, 2023

And my dad had always said, as many young kids get this advice, doctor, lawyer, accountant, engineer. SALISBURY: And accountant seemed like a reasonable option. And I kind of stumbled my way into accounting. That background of being an accountant was just great bedrock training. RITHOLTZ: Sure. Very different fields.

Investments 117

Investments Banking Advertising Numbers 117

CFO News Room

NOVEMBER 8, 2022

directly via email: Resources Featured In This Episode: Looking for sample client service calendars, marketing plans, and more? And we’re going to talk about what’s going on in the markets, briefly talk about the portfolio. ” look at the Monte Carlo simulations, look at what is the hurdle rate.

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Restructuring Planning Marketing Accounting 130

Musings on Markets

JANUARY 5, 2024

Thus, looking at only the companies in the S&P 500 may give you more reliable data, with fewer missing observations, but your results will reflect what large market cap companies in any sector or industry do, rather than what is typical for that industry.

Valuation 100

Valuation Financial Analysis Analyzing Data Profit and Loss 100

Musings on Markets

MARCH 8, 2023

The dividend principle, which is the focus of this post is built on a very simple principle, which is that if a company is unable to find investments that make returns that meet its hurdle rate thresholds, it should return cash back to the owners in that business.

Hurdle Rate 94

Hurdle Rate Corporate Finance Investments Finance 94

Barry Ritholtz

FEBRUARY 21, 2023

And I love business, I love the markets, I want to go there. What sort of challenges — BUCKLEY: A couple of bear markets. BUCKLEY: We’ve had, let’s see, inflation at a 40-year high, tightest labor market of our lifetimes. We were losing market share in the critical retirement, the 401(k) business.

Leadership 109

Leadership Investments Profit and Loss Technology 109

Barry Ritholtz

NOVEMBER 8, 2022

CHANCELLOR: And look — yeah, but then if you look at the valuation of the market at that time, the market was — the U.S. CHANCELLOR: And look — yeah, but then if you look at the valuation of the market at that time, the market was — the U.S. RITHOLTZ: That’s how you know it’s going to be low?

Valuation 57

Valuation Finance Investments Banking 57

Musings on Markets

JANUARY 6, 2023

Counter made-up numbers : It remains true that people (analysts, market experts, politicians) often make assertions based upon either incomplete or flawed data, or no data at all. Data universe : In my sample, I include all publicly traded firms with market capitalizations that exceed zero, traded anywhere in the world.

Valuation 52

Valuation Corporate Finance Financial Analysis Leverage 52

Musings on Markets

FEBRUARY 27, 2023

Note that this framework applies for all businesses, from the smallest, privately owned businesses, where debt takes the form of bank loans and even credit card borrowing and equity is owner savings, the largest publicly traded companies, where debt can be in the form of corporate bonds and equity is shares held by public market investors.

Corporate Finance 52

Corporate Finance Finance Marketing Leverage 52

Musings on Markets

JANUARY 9, 2021

I spent the first week of 2021 in the same way that I have spent the first week of every year since 1995, collecting data on publicly traded companies and analyzing how they navigated the cross currents of the prior year, both in operating and market value terms.

Valuation 52

Valuation Currencies Numbers Corporate Finance 52

Musings on Markets

JANUARY 28, 2024

In my last data updates for this year, I looked first at how equity markets rebounded in 2023 , driven by a stronger-than-expected economy and inflation coming down, and then at how interest rates mirrored this rebound.

Hurdle Rate 95

Hurdle Rate Concentration Investments Finance 95

Musings on Markets

JULY 25, 2023

The other is pragmatic , since it is almost impossible to value a company or business, without a clear sense of how risk exposure varies across the world, since for many companies, either the inputs to or their production processes are in foreign markets or the output is outside domestic markets.

Currencies 52

Currencies Hurdle Rate Valuation Marketing 52

Barry Ritholtz

MAY 21, 2024

It’s because, you know, when everybody’s looking at all this data and it all seems terrible, chances are that information’s priced into the market. I 00:13:35 [Speaker Changed] Met him at a, a, a Market Technician’s Association. About equity markets. Oh, nice event. 00:13:46 [Speaker Changed] Yes.

Finance 57

Finance Marketing Numbers Investments 57

Barry Ritholtz

DECEMBER 26, 2023

You work at Capital Growth Financial and in former global markets before you join investing Giant Merrill Lynch in 2007, what was that transition like from smaller shops to a really, really big one? Accounting was very difficult. It’s about a 50% fail rate, something like that. That’s right. Maybe even more.

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Marketing Leadership Finance Investments 62