Musings on Markets

JANUARY 5, 2024

Beta & Risk 1. Equity Risk Premiums 2. EBIT & EBITDA multiple s 5. I also have implied equity risk premiums (forward-looking and dynamic estimate of what investors are pricing stocks to earn in the future) for the S&P 500 going back annually to 1960 and monthly to 2008, and equity risk premiums for countries.

Dividends 105

Dividends Risk Premium Equity Book Value 105

Musings on Markets

JANUARY 6, 2023

When valuing or analyzing a company, I find myself looking for and using macro data (risk premiums, default spreads, tax rates) and industry-level data on profitability, risk and leverage. I do report on a few market-wide data items especially on risk premiums for both equity and debt. EV/EBIT and EV/EBITDA 4.

Risk Premium 52

Risk Premium Dividends Start-ups EBITDA 52

Musings on Markets

FEBRUARY 23, 2025

The default spread is a price of risk in the bond market, and if you recall, I estimated the price of risk in equity markets, with an implied equity risk premium, in my second data update. The first was whether companies would pull back from borrowing , with the higher rates, leading to a drop in aggregate debt.

Equity 75

Equity EBITDA Risk Premium Gross Debt 75