Musings on Markets

JANUARY 17, 2024

While stocks had their ups and downs during the year, they ended the year strong, and recouped, at least in the aggregate, most of the losses from 2022. Stocks ended the year well, with November and December both delivering strong up movements, and while this left investors feeling good about the year, it was a rocky year.

Risk Premium 79

Risk Premium Start-ups Equity Treasury 79

Musings on Markets

JULY 1, 2022

In this post, I will argue that almost everything that we are observing in markets, across asset classes, can be explained by a pull back on risk capital, and that understanding the magnitude of the pull back, and putting in historical perspective, is key to gauging what is coming next. Risk Capital: What is it?

Marketability 99

Marketability Risk Premium Start-ups Equity 99

Equilest

JANUARY 7, 2025

So let's get started and discover the keys to accurate valuation! It's like a financial health check-up, examining everything from sales patterns to asset quality. How the M-Score Detects Earnings Manipulation Now that we've got the ingredients, let's see how this financial potion works its magic!

Business Valuation 40

Business Valuation Risk Premium Finance Start-ups 40

Equilest

MARCH 17, 2022

This multiple is similar, by analogy, to the PER (Price to Earnings Ratio of listed companies). Thus two companies with the same level of results but different future performance risks will have different values. On the other hand, the risk premium corresponds to the risk of investing money in this particular company.

Business Valuation 40

Business Valuation EBIT Discounted Cash Flow EBITDA 40