Musings on Markets

NOVEMBER 1, 2023

To deliver this growth, I did assume that Tesla would have to invest large amounts of capital in capacity, and that this would create a significant drag on value, resulting in a equity value of just under $10 billion.

Start-ups 124

Start-ups Marketability Market Capitalization Equity 124

Valutico

MARCH 1, 2023

In early 2018 the company traded at GBP 4.7 (USD by using the Discounted Cash Flow method, specifically our Flow-to-Equity approach, as well as a Trading Comparables analysis. The Flow-to-Equity analysis produced a value of GBP 102 (USD 123) billion using a Cost of Equity of 7.7%. billion to the bottom line by 2030.

Discounted Cash Flow 52

Discounted Cash Flow Net Debt EBIT Equity 52

Valutico

MARCH 28, 2023

Share Price Performance Between February 2018 and February 2020, UBS saw a decline of over 35% in its share price due to weaker profits, which worsened during the pandemic. The Flow-to-Equity analysis produced a value of CHF 120 (USD 130.5) billion using a Cost of Equity of 7.9%. per common stock, with a dividend yield of 2.70%.

Banking 52

Banking Dividends Equity Marketability 52

Musings on Markets

SEPTEMBER 1, 2021

In the graph below, I plot the market capitalization of Chinese listed companies, in dollar terms, and as a percent of market capitalization of all global companies: World Bank Database Chinese equities have risen from a negligible share of global market capitalization, in 2000, to more than 10% of global market capitalization, in 2020.

Market Capitalization 98

Market Capitalization Marketability Start-ups Technology 98

Reynolds Holding

AUGUST 15, 2022

Study covers selected activist campaigns involving NYSE- and Nasdaq-traded companies with equity market capitalizations of greater than $1 billion as of December 31, 2021 (unless company is no longer listed). By the Numbers—2021 Public Activism Trends.

Market Capitalization 59

Market Capitalization Equity Marketability Technology 59

Valutico

MARCH 20, 2023

million for the financial year ending 31 December 2022, and its tangible equity is expected to be around GBP 1.4 (USD Although in 2018, HSBC’s stock was performing well and traded around USD 55, the Covid-19 crisis in 2020 affected the entire market, and HSBC was not the exception, leading to a marked decline in its stock price.

Dividends 52

Dividends Banking Equity Market Capitalization 52

Musings on Markets

NOVEMBER 4, 2022

Investors, used to a decade of better-than-expected earnings and rising stock prices at these companies, have been blindsided by unexpected bad news in earnings reports, and have knocked down the market capitalization of these companies by hundreds of billions of dollars in the last few weeks.

Start-ups 105

Start-ups Market Capitalization Marketability Dividends 105

Musings on Markets

JANUARY 9, 2021

The second was that, starting mid-year in 2020, equity markets and the real economy moved in different directions, with the former rising on the expectations a post-virus future, and the latter languishing, as most of the world continued to operate with significant constraints.

Risk Premium 52

Risk Premium Market Capitalization Equity Start-ups 52

Musings on Markets

NOVEMBER 15, 2022

In this post, I want to focus on that point, starting with a discussion of why stories matter to investors and traders and the story that propelled the company to a trillion-dollar market capitalization not that long ago. Obviously, at today's price of just over $100/share, it should be time for regrets, but I have none.

Start-ups 99

Start-ups Marketability Market Capitalization Technology 99

Benzinga

SEPTEMBER 5, 2024

Strategic Transaction Highlights: Creates a premier middle-market bank focused on serving the greater New York metro area Pro forma company will have significant scale, with $14 billion in assets and a market capitalization of over $1.2

Banking 45

Banking Book Value Marketability Market Capitalization 45

Reynolds Holding

JANUARY 9, 2023

Granite Construction’s $129 million settlement resolving allegations that it manipulated financial statements to overstate revenues in 2018 received final approval in May 2022. Investors specifically claimed in its initial complaint dated November 19, 2018 that Clayton Dubilier used its effective control of NCI to make it pay $1.2

Banking 81

Banking Private Equity Firm Marketability Compliance 81

Reynolds Holding

JANUARY 23, 2024

In 2018 and 2019, Wells Fargo is alleged to have repeatedly told investors that it was implementing and developing the required governance reforms. in August 2019, wiping out about $36 billion in market capitalization. According to the complaint, the undisclosed cost cuts ultimately led to a massive $15.4

Banking 59

Banking Private Equity Firm Alpha Compliance 59

Musings on Markets

OCTOBER 4, 2021

In 2018, it added a Paytm Money , for investment and wealth management, and in 2019, it launched a Paytm for Business app for merchants to track payments. In 2017 it added Paytm Gold , allowing users to buy gold in quantities as little as 1 rupee, and Paytm Payments Bank , a messaging platform with in-Chat payments.

Start-ups 97

Start-ups Banking Marketability Technology 97

Musings on Markets

DECEMBER 2, 2020

In the table below, I list out the value of equity in Airbnb for variants of gross booking growth and operating margins: Rather than view this table as anything goes, I would use it to make break even assessments, given what Airbnb trades at. The other is the target operating margin, in 2031, with higher margins translating into higher value.

Start-ups 52

Start-ups Marketability Equity Market Capitalization 52

Reynolds Holding

NOVEMBER 15, 2022

These individuals included senior public company executives, such as Dennis Muilenburg, Boeing’s former CEO , who was charged with making materially misleading public statements about the safety of the company’s 737 MAX planes following crashes in 2018 and 2019, and Ronald D. Compass Minerals International Inc.

Compliance 45

Compliance Marketability Technology Alpha 45

Musings on Markets

MAY 7, 2023

In this post, I will begin by looking at how to value banks and follow up with an examination of investor views of banking have changed, by looking at pricing, before examining divergences in how banks are priced in the market today. All Equity, All the time!

Banking 91

Banking Price to Book Dividends Book Value 91

Musings on Markets

JUNE 23, 2023

The second is that much as I would like to claim credit for foresight and forward thinking, AI was not even a speck in my imagination when I bought these stocks (Microsoft in 2014 and NVIDIA in 2018). I just happened to be in the right place at the right time, a reminder again that being lucky often beats being smart, at least in markets.

Start-ups 103

Start-ups Marketability Market Capitalization Technology 103

Musings on Markets

APRIL 20, 2021

Financing Mix : Companies can raise capital either from equity or debt, and the costs of equity and debt can be altered when the tax rate changes. To see if this is true, across companies, I broke US companies down my market capitalization into ten deciles and looked at the tax behavior in each grouping.

Start-ups 52

Start-ups Debt Financing Finance Equity 52

Reynolds Holding

FEBRUARY 26, 2023

The stock market reaction to the findings was brutal and immediate. Within a few days, Adani Enterprises, the top company promoted by billionaire Gautam Adani, lost 50 percent of its market capitalization. [3] Red flags on the group’s indebtedness have emerged since 2018.

Banking 111

Banking Marketability Market Capitalization Finance 111

Reynolds Holding

JULY 10, 2024

Epilogue By the time I became Enforcement Director in July 2021, the SEC had already brought dozens of enforcement actions to address widespread noncompliance in the crypto markets. Meanwhile, four months later, the combined market capitalization of crypto assets reached approximately $3 trillion. [49] 3d 352, 359 (S.D.N.Y.

Marketability 49

Marketability Technology Finance Compliance 49

Cooley M&A

FEBRUARY 1, 2024

Carve out tech acquisitions also continued to be attractive to strategic and private equity buyers, with GTCR’s acquisition of a majority stake in Worldpay from FIS for up to $18.5 Private equity activity accounted for only 27% of tech M&A in 2023, a six-year low (and a substantial decrease from the 2021 record of 36%).

Equity 59

Equity Finance Marketability Start-ups 59

Global Finance

APRIL 5, 2025

Following two years of sticky inflation, exorbitant interest rates, and geopolitical tensions, worldwide equity issuance volume surged to $741 billion in 2024. Global inflation eased and major central banks began to cut interest rates: encouraging developments for equity issuers and investors. Thats up 20% from the previous year.

Banking 52

Banking Equity Market Capitalization Marketability 52