Musings on Markets

OCTOBER 6, 2023

The resulting debate among accountants about how to bring intangibles on to the books has spilled over into valuation practice, and many appraisers and analysts are wrongly, in my view, letting the accounting debate affect how they value companies.

Valuation 104

Valuation Profit and Loss Accounting Investments 104

Barry Ritholtz

DECEMBER 14, 2022

Because going back to our thematic investing, our portfolio is 80 percent concentrated in warehouses, rental housing, lab office space and hospitality asset. Like, if you think about — when I was growing up, all of the big pharmaceutical companies had these corporate campuses that were highly securitized, deep in suburbs.

Mergers and Acquisitions (M&A) 61

Mergers and Acquisitions (M&A) Investments Construction Concentration 61

Barry Ritholtz

DECEMBER 12, 2023

And the division that I was in was below plan. Low price stock has historically had some very large concentrated positions. And those concentrated positions happen because they have high conviction that they’re in that group where it’s not stupid to think about where earnings will be 10 years out. Real money.

Benchmarking 103

Benchmarking Concentration Investments Profit and Loss 103