Musings on Markets

JANUARY 5, 2024

Since I am lucky enough to have access to databases that carry data on all publicly traded stocks, I choose all publicly traded companies, with a market price that exceeds zero, as my universe, for computing all statistics. Beta & Risk 1. Return on (invested) capital 2. Return on Equity 1. Debt Ratios & Fundamentals 1.

Dividends 105

Dividends Risk Premium Equity Book Value 105

Musings on Markets

JANUARY 6, 2023

Data universe : In my sample, I include all publicly traded firms with market capitalizations that exceed zero, traded anywhere in the world. Cost of Capital 3. For market data , where the updating is continuous, that is data as of the January 1, 2023. Cost of Equity 1. PE & PEG 2. Standard deviation in stock price 2.

Risk Premium 52

Risk Premium Dividends Start-ups EBITDA 52

Musings on Markets

JANUARY 10, 2025

Not surprisingly, the company listings are across the world, and I look at the breakdown of companies, by number and market cap, by geography: As you can see, the market cap of US companies at the start of 2025 accounted for roughly 49% of the market cap of global stocks, up from 44% at the start of 2024 and 42% at the start of 2023.

Risk Premium 119

Risk Premium Dividends Start-ups Corporate Finance 119

Musings on Markets

FEBRUARY 8, 2025

In data update 4 , I looked at movements in corporate default spreads during 2024. There are three company-specific numbers that enter the calculation, all of which contribute to costs of capital varying across companies; Relative Equity Risk , i.e., a measure of how risky a company's equity is, relative to the average company's equity.

Risk Premium 72

Risk Premium Beta Start-ups Equity 72