Musings on Markets

NOVEMBER 15, 2022

In the second post, I pointed to inconsistencies in how accountants classify operating, capital and financing expenses , and the consequences for reported accounting numbers. Narrative and Value As someone who has spent the last four decades talking, teaching and doing valuation that we have lost our way in valuation.

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CFO News Room

FEBRUARY 12, 2022

My September 2020 Valuations. I must admit I was surprised by my own valuations, since, given the low riskfree rates prevailing at the time, only one stock (Apple) looked significant over valued. Clearly, much has happened since these valuations. Updating the Numbers. to 14.9%.

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The Finance Weekly

OCTOBER 29, 2024

Business Valuation - Determining the value of assets or entire companies. Example Imagine you manage a conglomerate called TPD Corporation, which has three main divisions: healthcare, entertainment, and logistics. First, identify the divisions you want to evaluate—in this case, the Healthcare, Entertainment, and Logistics segments.

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Financial Modeling Mergers and Acquisitions (M&A) Budgeting Forecasting 52

Musings on Markets

FEBRUARY 12, 2022

I must admit I was surprised by my own valuations, since, given the low riskfree rates prevailing at the time, only one stock (Apple) looked significant over valued. Clearly, much has happened since these valuations. For the latter, I am reporting on the trailing 12-month numbers, to ensure that I have the calendar year numbers.)

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Musings on Markets

DECEMBER 21, 2022

Starting in late January 2023, I will be back in the classroom, teaching valuation and corporate finance to the MBAs and valuation to the undergraduates, and these classes will continue through May 2023.

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Valuation Corporate Finance Finance Financial Analysis 91

Musings on Markets

JANUARY 26, 2023

Another is that when valuing companies, I am, in addition to valuing a company to see if it is fairly priced, interested into the broader insights about business and valuation that emerge from the company. per share in 2022. Growth potential : I underestimated the company's capacity to grow, by limiting its product reach.

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Valuation Investments Manufacturing Marketing 83

PYMNTS

NOVEMBER 29, 2019

Valuations are high. The interesting wrinkle here is that Silver Lake might be among the marquee names in technology investments — and with the latest deal has said that the investment would “help drive the next phase of CFG’s growth in the fast-growing premium sports and entertainment content market.”. Not just in the stock market.

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CFO News Room

JANUARY 18, 2023

Even though we live in an age where user platforms and hyper revenue growth can drive company valuations, that adage remains true. The numbers yield interesting insights. . The proverbial bottom line for success in business is the capacity to deliver profits, at least in the long term.

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Musings on Markets

OCTOBER 4, 2021

In this post, I will look at the levers that drive Paytm's value, and you can make your judgments on where you think this offering will lead in terms of valuation and pricing. As Paytm's product suite has expanded, its numbers reflect both its strengths and weaknesses, with four key statistics tracking its expansion.

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Valuation Profit and Loss Investments Numbers 75

PYMNTS

DECEMBER 26, 2018

The companies include iQiyi, a video platform company and Nio, an electric car maker, as well as Tencent Music Entertainment. That said, longer term, Chinese companies have benefited from US listings, with the validation of more institutional shareholders and higher valuations.” .

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Profit and Loss Entertainment Valuation Marketing 53

PYMNTS

SEPTEMBER 29, 2019

The companies include iQiyi, a video platform company; Nio, an electric car maker; and Tencent Music Entertainment. listings, with the validation of more institutional shareholders and higher valuations.”. The level of new issuance of Chinese companies in the U.S. The level of new issuance of Chinese companies in the U.S.

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Entertainment Valuation Marketing Sales 49

PYMNTS

APRIL 23, 2019

Delivery company Postmates announced on Tuesday (April 23) that it is expanding and adding 1,000 more cities, bringing the total number of cities it serves to 3,500 across all 50 states, according to report by Fortune. Postmates has a valuation of $1.85 We are now putting the money we have raised to great use.”. billion for DoorDash.

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Entertainment Valuation Numbers Investments 43

Musings on Markets

AUGUST 25, 2023

The Story Lines As the walls between sports and money have crumbled, we have become used to seeing mind-boggling numbers on sports transactions, whether it be in the form on broadcasting networks paying for the rights to carry sporting events or player contracts pushing into the hundreds of millions. billion, with current profitability, $2.7

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Valuation Numbers Investments Marketing 94

Barry Ritholtz

SEPTEMBER 3, 2024

Heather comes from with a fascinating background, having previously been in a number of other places, most notably Morningstar, and, and she has a very specific approach to investment management and thinking about stock selection. They do a number of things at Diamond Hill that many other investment shops don’t.

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Investments Valuation Concentration Marketing 59

Barry Ritholtz

SEPTEMBER 19, 2022

So along those lines, there are some venture firms that don’t really seem to care a lot about valuations and others seem to focus on a little bit. Is valuation significant, or is it, hey, we’re going to make 100 investments and if two or three workout, the valuations are irrelevant? How do you fall in that spectrum?

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Valuation Investments Marketing Technology 122

Musings on Markets

FEBRUARY 27, 2022

Even though we live in an age where user platforms and hyper revenue growth can drive company valuations, that adage remains true. The numbers yield interesting insights. The proverbial bottom line for success in business is the capacity to deliver profits, at least in the long term.

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Hurdle Rate Investments Accounting Entertainment 82

Barry Ritholtz

OCTOBER 21, 2024

And so there was a number of less liquid markets that made for quite wide spreads. And so there was certainly a number of different movements, but there was certainly downside of these things. And you know, I think ultimately there was a number of opportunities that came out. And so we have a number of business lines.

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PYMNTS

MARCH 16, 2018

That comes at a bad time for the toy industry, generally, which isn’t facing competition from other toys, but from other ways that kids now entertain themselves: iPads and apps. There is no toy business without Toys ‘R’ Us,” noted Isaac Larian, chief executive of MGA Entertainment, the company behind toy brands such as L.O.L.

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PYMNTS

MARCH 15, 2016

It took video games two decades to go from a brand new form of niche entertainment to a mainstream, multi-billion dollar global industry. Since games can stay up on Steam for years, this subjects them to a number of spikes and dips according to finicky currency valuations. However, at the moment a developer in the U.S.

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Entertainment Valuation Budgeting Currencies 40

Barry Ritholtz

SEPTEMBER 10, 2024

He has a very interesting approach to thinking about market valuations and strategies and when to deploy capital, when to go with the crowd, when to lean against the crowd, and has amassed and excellent track record. Second part of our framework is valuation fundamental work. So that’s, that’s number one.

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Barry Ritholtz

DECEMBER 5, 2023

’cause then I figure I could always be employed either managing the numbers or doing law and get those two degrees. And I got to see firsthand what Bain was doing in strategic consulting and understand their view of business separate from the numbers. And Bain was kind enough to offer me a job to facilitate.

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Mergers and Acquisitions (M&A) Investments Valuation Numbers 69

Musings on Markets

JANUARY 5, 2024

The numbers that I computed opened my eyes to how much perspective on the high, low, and typical values, i.e., the distribution of margins, helped in valuing the company, and how little information there was available, at least at that time, on this dimension.

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PYMNTS

NOVEMBER 6, 2017

I’d love to have [the] churn [number], I just don’t think we’ll get it,” said Ross MacMillan, RBC Capital Markets analyst, in an interview with Reuters. MacMillan downgraded Shopify to sector perform earlier this year, largely due to the company’s lofty valuation and the longer time frame before new services will impact earnings.

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Entertainment Valuation Numbers eCommerce 40

PYMNTS

JANUARY 24, 2020

It was a good week for Amazon’s stock price, with a valuation that briefly exceeded $1 trillion before falling back into the far more conservative $927 billion range, reaffirming its membership in the trillion-dollar club along with Microsoft ($1.27 Amazon doesn’t talk numbers that much,” said Steve Boom, head of Amazon Music. “We

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Retail eCommerce Entertainment Valuation 52

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. And so it is important that at least you’re able to entertain that.

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Concentration Valuation Marketing Investments 69

Barry Ritholtz

AUGUST 29, 2023

And it worked out and had multiple job offers coming out of school from a number of different insurance companies. I had a number of relationships that I built up and had another job lined up in New York City. DAVIS: So when we think about how those teams are evaluated, it’s a three-year number. So how did you perform?

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CFO News Room

JANUARY 24, 2023

To illustrate, what business would you put Apple, a company that was categorized (rightly) as a computer hardware company 40 years ago, but that now gets more than 60% of its revenues and profits from the iPhone, a telecommunication device that is also a hub for entertainment and services?

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Marketing Valuation Corporate Finance Currencies 130

Barry Ritholtz

JULY 24, 2023

The fact that you’ve got declining risk appetite, declines are prolonged, deep and valuations mean revert. The second, and what’s interesting about that period, is the fact that valuations actually peaked in 1961. MIAN: Valuations are ebb and flow. But number two is from a demographic standpoint.

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Marketing Construction Valuation Investments 52

Barry Ritholtz

OCTOBER 17, 2023

Graham Foster] : 00:02:54 That was a number, that was number theory, pure number theory. And whether it’s all numbers or even numbers. Some people look at a casino as entertainment and hey, we’re gonna spend X dollars, pick a number, 500, 2000, whatever it is. Number one, longevity.

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Investments Valuation Math Numbers 52

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. All our economic actions are taking place across time.

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Barry Ritholtz

OCTOBER 31, 2023

And now we have a number of different hedge funds, some we have in the macro, we have multi-Strat, we have point hedge funds with in technology in the healthcare field. The best example I always love to give is that Amazon’s last private round was at a $60 million post money valuation. 00:09:40 [Speaker Changed] Correct.

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Musings on Markets

JANUARY 8, 2022

To illustrate, what business would you put Apple, a company that was categorized (rightly) as a computer hardware company 40 years ago, but that now gets more than 60% of its revenues and profits from the iPhone, a telecommunication device that is also a hub for entertainment and services?

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CFO News Room

DECEMBER 13, 2022

JEFFREY RAYPORT: Well, maybe the best way to bring it to life is to talk about one of the companies that we’ve spent a lot of time with, and that’s King Digital Entertainment. Can you just explain what extrapolation is? It’s a London-based game maker. Many people will know it. It’s been recently acquired by Activision Blizzard.

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Barry Ritholtz

MAY 9, 2023

He co-chairs a number of the asset management investment committees. So I interviewed with a bunch of banks, got a number of job offers by the end of the week, and joined Goldman Sachs in October 1998. I ended up being hired onto the high yield desk as a research analyst and did that for a number of years, a couple of years.

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Barry Ritholtz

OCTOBER 24, 2022

So there are a number of us heading in out of college into the BLS. And how do we think about them from a valuation perspective? You said earlier, valuations were historically high both stocks and bonds late 2021, right about now, what are we? MARTA NORTON, CHIEF INVESTMENT OFFICER, MORNINGSTAR INVESTMENT MANAGEMENT: Right.

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Investments Valuation Benchmarking Marketing 52

Barry Ritholtz

DECEMBER 19, 2023

They run long short across each of these, and they’ve put up some pretty impressive numbers over the past couple of years. 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. It’s beta neutral, market neutral.

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Healthcare Investments Construction Concentration 64

Barry Ritholtz

DECEMBER 6, 2022

And I did the math, and I think at that point in time, roughly speaking, assets in ETS were roughly just 10 percent, 12 percent of assets in mutual funds and I was pretty convinced that that number was to increase significantly. I was employee number 10. RITHOLTZ: Which is really a pretty big number. billion dollars in AUM.

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