Musings on Markets

MAY 20, 2022

Inflation and Value When in doubt about how any action or information plays out in value, I find it useful to go back to value basics, and trace out the effects of that action/information on value drivers. The former is short hand for the small cap premium and the latter is the proxy for the value factor in returns.

Price to Book 102

Price to Book Dividends Beta Equity 102

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. Costs of equity & capital 1. Debt Details 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. Standard deviations in equity and firm value 4. For market data , where the updating is continuous, that is data as of the January 1, 2023.

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 115

Risk Premium Dividends Start-ups Corporate Finance 115