Brian DeChesare

AUGUST 10, 2022

Integrated Oil & Gas can also work, but at the large banks, you’ll mostly advise huge corporations on prospective asset deals and the occasional financing. Therefore, higher interest rates tend to make them less attractive; higher rates also make it more difficult for E&P and other firms to raise debt to finance their operations.

Banking 98

Banking EBITDA Dividends Equity 98

Musings on Markets

JANUARY 6, 2023

Check rules of thumb : Investing and corporate finance are full of rules of thumb, many of long standing. The second is that in my line of work, which is corporate finance and valuation, the numbers I need lie in micro or company-level data, not in the macro space. Dividend Payout & Yield 1. Cost of Equity 1. PE & PEG 2.

Risk Premium 52

Risk Premium Dividends Start-ups EBITDA 52

Musings on Markets

JANUARY 31, 2024

Your answer to that question will determine not just how you approach running the business, but also the details of how you pick investments, choose a financing mix and decide how much to return to shareholders, as dividend or buybacks.

Equity 80

Equity Book Value Start-ups Corporate Finance 80

Musings on Markets

JANUARY 12, 2021

Corporate Finance : Corporate finance is the development of the first financial principles that govern how to run a business. It is that mission that makes corporate finance the ultimate big picture class, one that everyone (entrepreneurs, investors, analysts, business observers) should take. Of course, but with two caveats.

Corporate Finance 52

Corporate Finance Start-ups Finance Marketability 52

Brian DeChesare

AUGUST 31, 2022

For simplicity, I am ignoring the interest, dividends, borrowing costs, and other fees, but this example is the general idea with convertible arbitrage. Convertible Securities: A Complete Guide to Investment and Corporate Financing Strategies. billion, up from $4.7 billion, so your $2,000 of convertible bonds would be up by ~14%.

Banking 89

Banking Risk-free Rate Equity Start-ups 89

Musings on Markets

JANUARY 28, 2024

In this post, I look at risk, a central theme in finance and investing, but one that is surprisingly misunderstood and misconstrued. I do believe that, in finance, we have significant advances in understanding what risk, I also think that as a discipline, finance has missed the mark on risk, in three ways. What is risk?

Risk Premium 117

Risk Premium Beta Start-ups Equity 117

Musings on Markets

JANUARY 10, 2025

In corporate finance and investing, which are areas that I work in, I find myself doing double takes as I listen to politicians, market experts and economists making statements about company and market behavior that are fairy tales, and data is often my weapon for discerning the truth. Beta & Risk 1. Dividend yield & payout 3.

Risk Premium 115

Risk Premium Dividends Start-ups Corporate Finance 115

Musings on Markets

FEBRUARY 8, 2025

I spend most of my time in the far less rarefied air of corporate finance and valuation, where businesses try to decide what projects to invest in, and investors attempt to estimate business value. A key tool in both endeavors is a hurdle rate a rate of return that you determine as your required return for business and investment decisions.

Risk Premium 72

Risk Premium Beta Start-ups Equity 72