Musings on Markets

MAY 5, 2023

The overarching questions for us all are whether this crisis will spread to the rest of the economy and market, as it did in 2008, and how banking as a business, at least in the US, will be reshaped by this crisis, and while I am more a dabbler than an expert in banking, I am going to try answering those questions.

Banking 78

Banking Profit and Loss Securities Investments 78

Musings on Markets

OCTOBER 6, 2023

A few days ago, I valued Instacart ahead of its initial public offering , and noted that the reception that the stock gets will be a good barometer of where risk capital stands in the market, right now. There is another measure that you can use to see the futility, at least so far, of accounting attempts to value intangibles.

Valuation 106

Valuation Profit and Loss Accounting Investments 106

PYMNTS

NOVEMBER 6, 2019

The news comes as the bank reported a net loss below market expectations amid a restructuring plan that includes about 18,000 layoffs. The lender reported a net loss of $924 million (832 million euros) for the third quarter of 2019. This is the second quarterly loss for Deutsche Bank, which triggered a 7.9

Banking 40

Banking Profit and Loss Restructuring Concentration 40

CFO News Room

JANUARY 17, 2023

As the world’s attention is focused on the war in the Ukraine, it is the human toll, in death and injury, that should get our immediate attention, and you may find a focus on economics and markets to be callous. The Market Reaction. Bond Markets and Default Risk. Equity Markets and Equity Risk Premiums. The Lead In.

Economics 130

Economics Valuation Treasury Forecasting 130

CFO News Room

NOVEMBER 28, 2022

By applying the ideal-target-client framework, advisors can not only better target their marketing efforts (as they can align their website and other advertising efforts with their ideal client’s needs), but they can also streamline their day-to-day work, as they will encounter fewer ‘new’ issues as their client base grows. Team Kitces.

Tax Planning 130

Tax Planning Planning Investments Profit and Loss 130

Future CFO

DECEMBER 21, 2023

Declining profitability: For example, are your sales lower or your cost of goods sold higher? Poor interest coverage ratio: This shows operating profits may not be able to cover interest expenses. Can you go to the capital markets or turn to your line of credit to raise money if need be? Weakened balance sheet.

Profit and Loss 52

Profit and Loss Concentration Benchmarking Invoicing 52

Musings on Markets

OCTOBER 4, 2021

Since so much of Paytm’s success has been driven by the rise if smart phone usage among Indian consumers, and the concurrent rise in mobile payments for goods and services, I will start with a review of that rise, before looking at how Paytm has put itself in position to take advantage of that market shift.

Valuation 75

Valuation Profit and Loss Investments Numbers 75

CFO News Room

DECEMBER 26, 2022

navigate a volatile market environment (in both stocks and bonds – oof!) Outside of work, he serves as a volunteer financial planner and class instructor for non-profits in the Northern Virginia area. This year has been challenging for many financial advisors as they help their clients (and their own firms!) Read More +.

Planning 130

Planning Benchmarking Profit and Loss Communication 130

Barry Ritholtz

DECEMBER 12, 2023

My Two-for-Tuesday morning train reads: • How four different types of stock market participants are thinking about 2024 : Financial pros are bullish, but consumers not so much. Wired ) • Greedflation: corporate profiteering ‘significantly’ boosted global prices, study shows. It was likely closer to 5 percent. (

Profit and Loss 52

Profit and Loss Concentration Benchmarking Retail 52

Musings on Markets

AUGUST 19, 2024

Not surprisingly, the operating metrics change as companies age, with high revenue growth accompanied by big losses (from work-in-progress business models) and large reinvestment needs (to delivery future growth) in early-stage companies to large profits and free cash flows in the mature phase to stresses on growth and margins in decline.

Corporate Finance 98

Corporate Finance Valuation Investments Finance 98

Musings on Markets

SEPTEMBER 11, 2023

In the process, it has altered the financial characteristics of the companies in the business in ways that the market is still trying to come to terms with, which may explain the market turmoil this year. That said, the movie business remained concentrated, with the biggest players dominating each segment of the business.

Entertainment 76

Entertainment Profit and Loss Numbers Marketing 76

Musings on Markets

MARCH 19, 2022

As the world's attention is focused on the war in the Ukraine, it is the human toll, in death and injury, that should get our immediate attention, and you may find a focus on economics and markets to be callous. The increase in default spreads was not restricted to foreign markets, as fear also pushed up spreads in the corporate bond market.

Economics 100

Economics Valuation Treasury Forecasting 100

Barry Ritholtz

SEPTEMBER 12, 2022

She really has an incredible background in everything from capital markets to derivatives, to wealth management. You’ve been involved with capital markets for your entire career. It’s a town of about 4,000 people, so exposure to markets or investment banking or any of the careers in finance was not something that you really envisioned.

Investments 119

Investments Marketing Profit and Loss Banking 119

The Finance Weekly

JANUARY 10, 2022

Traditionally, the FP&A process entails creating a budget, cash flow, profit and loss statement, and balance sheet, then using them to forecast future performance. Similarly, you'll want to keep an eye on particular dashboards in products like Salesforce for go-to-market teams. What does this concept look like in practice?

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Finance Profit and Loss Budgeting 52

Barry Ritholtz

AUGUST 20, 2024

Why don’t we just have a conversation in the studio about his beef with passive, why he thinks it’s a structural threat to the market? Now, I don’t believe the market structure is subject to the same risks as a single inverse trading instrument, but he makes a really compelling case for this is important.

Concentration 69

Concentration Valuation Marketing Investments 69

Barry Ritholtz

JUNE 7, 2023

Not to be like the Grim Reaper, but the reality is, if you’re not a multi manager and you’re not aggressively managing market risk, then you fall into the category of a long, short single manager that probably takes concentrated, more concentrated directional risk. Maverick 14 billion. 130 billion.

Investments 110

Investments Concentration Profit and Loss Economics 110

Musings on Markets

DECEMBER 2, 2020

In this post, I will argue that there are good reasons for Airbnb's IPO timing, and make my first attempt at valuing this latest entrant into public markets. By the start of 2020, Airbnb had already become one of the largest players in its market of vacation and travel rentals, a sign of success, but also a crimp on future growth.

Profit and Loss 52

Profit and Loss Valuation Investments Numbers 52

CFO News Room

NOVEMBER 22, 2022

directly via email: Resources Featured In This Episode: Looking for sample client service calendars, marketing plans, and more? In fact, we probably would have been much more profitable. Author: Michael Kitces. Team Kitces. Get notified of the latest episodes (and all our research as it’s released!) Check out our FAS resource page !

Planning 130

Planning Communication Profit and Loss Education 130

PYMNTS

MAY 8, 2017

Department store employment has stayed flat, a stat that is somewhat misleading given the loss of nearly 60,000 jobs in the sector earlier this year and ongoing losses over the last several years, as this chart illustrates. Department of Labor, retail employment remains in a deep funk, accounting for only 2.8 percent of all jobs added.

Retail 49

Retail Profit and Loss Sales Manufacturing 49

Musings on Markets

AUGUST 15, 2023

If you do assume that markets will price away this excess profit, you then have the basis for the models that are used to value options and other derivative assets. That is why the risk-free rate becomes an input into option pricing and forward pricing models , and its absence leaves a vacuum.

Investments 83

Investments Currencies Treasury Hurdle Rate 83

Barry Ritholtz

DECEMBER 12, 2023

So again, so it came back out to the market and it held on to all the pieces except Danaher. They announced a $640 million loss and ouch. What’s the most current data point that may not have filtered into the market? They’d say it’s a crap market. Many years ago. So I took that. That was real money.

Benchmarking 105

Benchmarking Concentration Investments Profit and Loss 105

CFO News Room

FEBRUARY 6, 2022

And it says it has a plan to make that possible: deregulate the market to increase competition. At present, just four manufacturers control 84% of the hearing-aid market, according to the Open Markets Institute, a think tank critical of corporate concentration. Has corporate concentration raised prices for you?

Concentration 130

Concentration Profit and Loss Manufacturing Economics 130

Barry Ritholtz

JUNE 13, 2023

And so late 90s, that’s the emergence of the high yield market in Europe, you would print deals like never before. Now, on the positive and the silver lining was that this whole situation started putting a lot of light on, let’s say, the alternative market. Is it just the size of the US market? I think we learned a lot.

Investments 59

Investments Banking Entertainment Valuation 59

PYMNTS

APRIL 22, 2016

PYMNTS: What is the most innovative thing that you have introduced into the market and what value did it deliver to the stakeholder group that was its target? needed a comprehensive set of tools to protect them, and their merchants, from fraud losses. From that meeting, Kount Central was born. And since the U.S.

Concentration 40

Concentration Profit and Loss Technology Sales 40

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

PYMNTS

OCTOBER 16, 2017

Bitcoin’s infrastructure is highly concentrated and not all that secure. As a result, bitcoin mining is concentrated in two countries : China, with 60 percent, and Georgia , with 15 percent of bitcoin processing power. The FBI reports that some $28 million in losses were reported to them in 2016, triple what they say they saw in 2015.

Currencies 71

Currencies Concentration Financial Systems Investments 71

CFO News Room

FEBRUARY 5, 2023

The History The Adani Group, founded by Gautam Adani, started life as a commodity trading partnership business in Gujarat, and listed on stock markets in 1994, as Adani Exports, with a large chunk of its revenues coming from its operation of a local port in Mundra, with a subsequent entry into the edible oil business.

Marketing 130

Marketing Investments Auditing Profit and Loss 130

Barry Ritholtz

AUGUST 16, 2022

It was an era where, you know, first of all, the markets were really inefficient, right? TROPIN: So it was very fertile to do what we do because markets moved a lot. Commodity markets were moving a lot. It’s much better to be involved in trend following when markets are moving. Tell us a little bit about that era.

Profit and Loss 122

Profit and Loss Foreign Exchange Valuation Investments 122

Barry Ritholtz

DECEMBER 14, 2022

RITHOLTZ: Can I tell you all of us who were in markets and real estate and derivatives and trading, and anything who survived that baptism of fire, people have told me stories that they came through that and that affects you the rest of your career, that colors — it leaves a mark and colors you forever. They react to markets.

Mergers and Acquisitions (M&A) 64

Mergers and Acquisitions (M&A) Investments Construction Concentration 64

Musings on Markets

FEBRUARY 4, 2023

The History The Adani Group, founded by Gautam Adani, started life as a commodity trading partnership business in Gujarat, and listed on stock markets in 1994, as Adani Exports, with a large chunk of its revenues coming from its operation of a local port in Mundra, with a subsequent entry into the edible oil business.

Investments 100

Investments Valuation Auditing Restructuring 100

Barry Ritholtz

APRIL 6, 2023

My morning train WFH reads: • The Active Management Delusion: Respect the Wisdom of the Crowd : “My basic point here is that neither the Financial Analysts as a whole nor the investment funds as a whole can expect to ‘beat the market,’ because in a significant sense they (or you) are the market. Bloomberg ) • How Disney beat Gov.

Valuation 115

Valuation Profit and Loss Financial Analyst Concentration 115

PYMNTS

OCTOBER 14, 2016

Business Insider said that Caviar does not make a profit, and the extent of the losses are not shown in the company’s financials. It, of course, couldn’t be the first company in this business not to make a profit, so it’s not clear that that alone is its death knell. His executive team does not agree. Apple Watch.

Profit and Loss 60

Profit and Loss Concentration Finance Sales 60

Barry Ritholtz

FEBRUARY 20, 2024

There are few people in the world who understand the interrelationships between central banks, the economy, and markets like Bill Dudley does this, this is just a master class in, in understanding all the factors that affect everything from the economy to inflation, to the labor market, the housing market, and of course, federal Reserve policy.

Treasury 59

Treasury Marketing Banking Economics 59

Barry Ritholtz

JULY 31, 2023

And then, as it turns out, a switch flipped in the market in 2014 was a record, 2015 was a record. You know, that February, March market started to go, I mean, this started as a financial story, I guess, is how I got involved, which is that markets woke up to it very quickly, and things got hairy very fast.

Treasury 52

Treasury Retail Economics Entertainment 52

Barry Ritholtz

APRIL 11, 2023

They had the access to loss and excel really. And I think that’s a loss. And the only reason I can think for why dividends became the key way of returning cash is I went back to the history of markets. Bond markets preceded stock markets. Market price. DAMODARAN: Market price. DAMODARAN: Yeah.

Valuation 119

Valuation Education Finance Numbers 119

CFO News Room

NOVEMBER 5, 2022

Morningstar has joined an increasingly competitive market of direct indexing platforms for advisors and their clients. Why the torrid pace of RIA mergers and acquisitions activity seen in recent years could slow down in the current market and interest rate environment. 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