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It is for this reason that I chose to compute returns differently, using the following constructs: I included all publicly traded stocks in each market, or at least those with a marketcapitalization available for them. I converted all of the marketcapitalizations into US dollars , just to make them comparable.
For investment bankers, 2025 will likely offer a different scenario. Global equity markets face risks from the Trump administrations proposed universal tariffs, which could disrupt global trade and corporate earnings. The offering covered 25% of Spinneyss total equity capital, implying a marketcapitalization of $1.5
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