Musings on Markets

MAY 7, 2023

Consequently, you can only value the equity in a bank, and by extension, the only pricing multiples you can use to price banks are equity multiples (PE, Price to Book etc.).

Banking 82

Banking Price to Book Dividends Book Value 82

Musings on Markets

JULY 17, 2023

To the extent that some of that risk capital is coming back into the markets, equity markets have benefited, with benefits skewing more towards the companies and markets that were punished the most in 2022. trillion below their values from the start of 2022. trillion below their values from the start of 2022.

Marketability 98

Marketability Risk Premium Start-ups Treasury 98

Musings on Markets

JANUARY 6, 2023

For example, I have seen it asserted that a stock that trades at less than book value is cheap or that a stock that trades at more than twenty times EBITDA is expensive. Data universe : In my sample, I include all publicly traded firms with market capitalizations that exceed zero, traded anywhere in the world.

Risk Premium 52

Risk Premium Dividends Start-ups EBITDA 52

Musings on Markets

JANUARY 9, 2021

Consider, for instance, an investor who picks stocks based upon price to book ratios, who finds a stock trading at a price to book ratio of 1.5. buy stocks that trade at less than book value or trade at PEG ratios less than one) for individual stocks.

Risk Premium 52

Risk Premium Market Capitalization Equity Start-ups 52

Musings on Markets

JANUARY 26, 2025

I follow up by looking at companies broken down by market capitalization, with an eye on whether the much-vaunted small cap premium has made a comeback. In the process, I also look how much the market owes its winnings to its biggest companies, with the Mag Seven coming under the microscope. The Value Premium?

Price to Book 76

Price to Book Start-ups Book Value Marketability 76

Musings on Markets

FEBRUARY 4, 2023

Given the historical roots of the biggest Indian family groups, the Adani Group has been a recent entrant, not making the top ten list (in terms of either operating metrics like revenues or market-based numbers like market capitalization or enterprise value) as recently as ten years ago, and barely making the top ten list five or six years ago.

Start-ups 100

Start-ups Market Capitalization Marketability Equity 100