Musings on Markets

JANUARY 21, 2023

The first is the dividends you receive, while you hold stocks, a cash flow stream that provides a measure of stability to investors who seek it. trillion in market capitalization, but for balance, it is also worth noting that US equities are still holding on to a gain of $6.9

Equity 96

Equity Risk Premium Start-ups Dividends 96

Musings on Markets

JANUARY 17, 2024

That positive result notwithstanding, the recovery was uneven, with a big chunk of the increase in market capitalization coming from seven companies (Facebook, Amazon, Apple, Microsoft, Alphabet, NVidia and Tesla) and wide divergences in performance across stocks, in performance. increase in market capitalization.

Risk Premium 79

Risk Premium Start-ups Equity Treasury 79

Musings on Markets

JULY 17, 2023

Exacerbating the pain, corporate default spreads rose during the course of 2022: While default spreads rose across ratings classes, the rise was much more pronounced for the lowest ratings classes, part of a bigger story about risk capital that spilled across markets and asset classes. that was lost last year.

Marketability 98

Marketability Risk Premium Start-ups Treasury 98

Musings on Markets

NOVEMBER 9, 2021

The graph below contains Tesla's stock price, adjusted for stock splits, going back to 2010, and ending in November 2021: While the graph illustrates the surge in the stock price, the table embedded in the graph conveys the rise more vividly, by listing Tesla's market capitalization in millions of dollars.

Start-ups 101

Start-ups Dividends Marketability Market Capitalization 101

Musings on Markets

JANUARY 19, 2022

When you augment this price change with the dividends on the index during 2021, the total return on the S&P 500 for 2021 was 28.47%. To get a measure of what equity markets are offering in terms of expected returns, we are better served with a forward-looking and dynamic measure of these returns, and that is the focus of this section.

Risk Premium 99

Risk Premium Risk-free Rate Start-ups Equity 99

Musings on Markets

JANUARY 6, 2023

When valuing or analyzing a company, I find myself looking for and using macro data (risk premiums, default spreads, tax rates) and industry-level data on profitability, risk and leverage. 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

While the universe of companies is diverse, with approximately half of all firms from emerging markets, it is more concentrated in market capitalization, with the US accounting for 40% of global market capitalization at the start of the year.

Risk Premium 52

Risk Premium Market Capitalization Equity Start-ups 52