Valutico

DECEMBER 12, 2023

See below for the latest set of upgrades and watch this space in early 2024 for more to come soon. New Professional Report Style: What? Stay tuned for more exciting and significant updates coming in early 2024. We’ve completely modernized the report style, ensuring a more user-friendly experience. Why Important?

Risk-free Rate 52

Risk-free Rate Risk Premium Market Risk Marketability 52

Simply Treasury

AUGUST 2, 2022

The definition of "net equity" is as follows: equity of the company = sum of subscribed capital, share premiums, revaluation reserves, reserves and retained earnings, minus the tax value of the company's holdings in associated companies and the tax value of its own shares. risk premium if the company is an SME as defined by European law).

Equity 52

Equity Risk Premium Banking Finance 52

Appraiser Newsroom

MAY 1, 2024

Insurance industry terminology such as risk, premium, loss, deductibles, coverage limits, and perils are some of the fundamental concepts appraisers must grasp. Register for ASA’s PP163 Property Insurance Fundamentals: What Appraisers Need to Know webinar on June 6, 2024 from 2:00-3:00 PM EDT, presented by Thomas Dawson, ASA.

Appraisal 40

Appraisal Risk Premium Marketability 40

Musings on Markets

FEBRUARY 2, 2023

Finally, my starting cost of capital of 10.15% reflects the reality that the riskfree rate and equity risk premiums have risen over 2022, and my ending number of 9% is an indication that I expect Tesla to become less risky over time.

Start-ups 99

Start-ups Risk-free Rate Market Capitalization Marketability 99

Musings on Markets

JANUARY 28, 2024

In short, if you don't like betas and have disdain for modern portfolio theory, your choice should not be to abandon risk measurement all together, but to come up with an alternative risk measure that is more in sync with your view of the world.

Risk Premium 121

Risk Premium Beta Start-ups Equity 121

Musings on Markets

JULY 24, 2024

After the 2008 market crisis, I resolved that I would be far more organized in my assessments and updating of equity risk premiums, in the United States and abroad, as I looked at the damage that can be inflicted on intrinsic value by significant shifts in risk premiums, i.e., my definition of a crisis.

Risk Premium 75

Risk Premium Equity Start-ups EBITDA 75

Musings on Markets

JANUARY 17, 2025

In my last post , I noted that the US has extended its dominance of global equities in recent years, increasing its share of market capitalization from 42% in at the start of 2023 to 44% at the start of 2024 to 49% at the start of 2025.

Equity 127

Equity Risk Premium Treasury Start-ups 127

Musings on Markets

APRIL 7, 2025

In the language of risk, they are demanding higher prices for risk, translating into higher risk premiums. Those equity risk premiums did not get back to pre-2008 levels until almost 15 years later. trillion) were close in percentage terms to the losses in the rest of the market.

Marketability 98

Marketability Risk Premium Start-ups Equity 98

Musings on Markets

JANUARY 10, 2025

Thus, as you peruse my historical data on implied equity risk premiums or PE ratios for the S&P 500 over time, you may be tempted to compute averages and use them in your investment strategies, or use my industry averages for debt ratios and pricing multiples as the target for every company in the peer group, but you should hold back.

Risk Premium 119

Risk Premium Dividends Start-ups Corporate Finance 119

Musings on Markets

FEBRUARY 8, 2025

In the first five posts, I have looked at the macro numbers that drive global markets, from interest rates to risk premiums, but it is not my preferred habitat. The second set of inputs are prices of risk, in both the equity and debt markets, with the former measured by equity risk premiums , and the latter by default spreads.

Risk Premium 72

Risk Premium Beta Start-ups Equity 72

Musings on Markets

JANUARY 28, 2025

We started 2024 with the consensus wisdom that rates would drop during the year, driven by expectations of rate cuts from the Fed. In this post, I will begin by looking at movements in treasury rates, across maturities, during 2024, and the resultant shifts in yield curves.

Banking 69

Banking Treasury Risk Premium Start-ups 69

Musings on Markets

JANUARY 31, 2025

A little over a year later, in September 2024, that question about AI seemed to have been answered in the affirmative, for most investors, and I posted again after Nvidia had a disappointing earnings report , arguing that it reflected a healthy scaling down of expectations.

Start-ups 133

Start-ups Marketability Technology Risk Premium 133

Global Finance

MARCH 5, 2025

With the peso stabilized, inflation reached 117% in December 2024, down from 292% from the years high in April, and the use of the dollar is expected to increase, including for day-to-day transactions. This may allow the country to reduce the risk premium attached to its international borrowing. However, there are pros and cons.

Banking 59

Banking Finance Risk Premium Marketability 59

Reynolds Holding

MARCH 25, 2025

14] Investment Company Institute, 2024 Investment Company Fact Book , at 22-23. [15] 17] See [link] (showing the United States has among the lowest equity risk premiums in the world); Luzi Hail and Christian Leuz, International Differences in the Cost of Equity Capital: Do Legal Institutions and Securities Regulation Matter?,

Corporate Finance 45

Corporate Finance Finance Banking Marketability 45

Reynolds Holding

FEBRUARY 23, 2025

NYU Business School Professor Damoradans widely used valuation data, for example, currently shows the United States as having among the lowest equity risk premiums in the world. [3] capital markets have grown ever larger over time, currently representing over $62 trillion in equity market capitalization up $11 trillion in 2024 alone.

Systematic Risk 45

Systematic Risk Marketability Equity Risk Premium 45

Musings on Markets

FEBRUARY 6, 2025

In this post, I will expand my analysis of data in 2024, which has a been mostly US-centric in the first four of my posts, and use that data to take you on my version of the Disney ride, but on this trip, I have no choice but to face the world as is, with all of the chaos it includes, with tariffs and trade wars looming.

Risk Premium 67

Risk Premium Start-ups Enterprise Value Equity 67

Musings on Markets

FEBRUARY 23, 2025

Measuring the Debt Burden With that tradeoff in place, we are ready to examine how it played out in 2024, by looking at how much companies around the world borrowed to fund their operations. to3.5%) during the year.

Equity 75

Equity EBITDA Risk Premium Gross Debt 75

Musings on Markets

MARCH 15, 2025

Thus, my estimates of equity risk premiums, updated every month, are not designed to make big statements about markets but more to get inputs I need to value companies. Not only does the world tilt more authoritarian than democratic in 2024, the trend line indicates that the world is becoming less democratic over time.

Start-ups 130

Start-ups Risk Premium Marketability Equity 130

Global Finance

OCTOBER 29, 2024

Global Finance: What surprised you in 2024? There are certain sectors that we think are offering better risk/reward. So, credit spreads have gotten so tight and so compressed that there’s not much of a cyclical risk premium. In investment grade bonds, we’re now at spreads of 80 basis points.

Start-ups 98

Start-ups Finance Equity Private Equity Firm 98