Remove Banking Remove Firm Value Remove Risk Premium
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Data Update 1 for 2025: The Draw (and Danger) of Data

Musings on Markets

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.

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Data Update 5 for 2025: It's a small world, after all!

Musings on Markets

The Risk Effect There are emerging markets that have delivered higher returns than developed markets, but in keeping with a core truth in investing and business, these higher returns often go hand-in-hand with higher risk. The answers, to you, may seem obvious, but I find it useful to organize the obvious into buckets for analysis.