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.

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CFO News Room

NOVEMBER 8, 2022

So, last year, valuations were high, interest rates were low. And I said, “Look, you’ve got to look at where we are with valuations, and you have to look at where the 10-year Treasury is at. We update the expected return and the expected risk inside of eMoney. Is it at 1.5%?” Cean: Correct.

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Restructuring Planning Marketing Accounting 130

Barry Ritholtz

DECEMBER 12, 2023

He developed the Ginnie Mae contract, which at one time was a big thing in treasury bond contract. Low price stock has historically had some very large concentrated positions. 00:44:11 [Speaker Changed] Kathy would may have her own valuation, so, but I can’t replicate it myself. Very inventive and creative person.

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Barry Ritholtz

AUGUST 15, 2023

So you go back a couple of years and you could say, “Well, what return is available buying a treasury?” ” And it turned out, if you looked at the market at that time, it was, I’ll call it 1%, five-year treasury or 10-year treasury. What’s the valuation? We are deposits cost less than that.

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Investments Benchmarking Marketing Treasury 52

Barry Ritholtz

MARCH 26, 2024

You still get these, you know, cap driven concentration problems in the market like last year. Now we have an environment wherein essentially hold to maturity risk-free treasuries and things like, you know, money market funds, a lot of money has, has gone back in that direction. Not every day, not every week.

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Barry Ritholtz

AUGUST 16, 2022

RITHOLTZ: And those were Treasuries. 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. And last market question, so we’ve seen equity valuations come down. TROPIN: Right. TROPIN: Yeah.

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Barry Ritholtz

FEBRUARY 20, 2024

So, for example, the treasury was thinking about moving to direct deposit, but they wanted to know how much it was gonna cost them because direct deposit, they, they, they, they, the money clears, you know, sorry, almost instantly, right? So they wanna know how many days does it take a, a treasury check to get back to us.

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CFO News Room

NOVEMBER 5, 2022

While private valuations have soared in recent years, public markets continue to be less kind to RIAs. Swimming against the tide of I Bond popularity, Arends currently prefers investing in Treasury Inflation Protected Securities (TIPS) to I Bonds. Enjoy the ‘light’ reading! Author: Adam Van Deusen. Team Kitces. TIPS are a type of U.S.

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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.

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