Musings on Markets

JANUARY 9, 2021

To illustrate, consider a practice in valuation, where analysts are trained to add a small cap premium to discount rates for smaller companies, on the intuition that they are riskier than larger companies. It is very likely that these rules of thumb were developed from data and observation, but at a different point in time.

Valuation 52

Valuation Currencies Numbers Corporate Finance 52

CFO News Room

JANUARY 17, 2023

Consequently, I will concentrate this post on how this crisis is playing out in markets, and the effects it has had, so far, on businesses and investments, and whether these effects are likely to be transient or permanent. I revisited my valuation of the index, with the updated values: Spreadsheet to value the S&P 500.

Economics 130

Economics Valuation Treasury Forecasting 130

Musings on Markets

MARCH 19, 2022

Consequently, I will concentrate this post on how this crisis is playing out in markets, and the effects it has had, so far, on businesses and investments, and whether these effects are likely to be transient or permanent. In the last few days, every company on the list has dipped in price by enough to be at least fairly valued or even cheap.

Economics 100

Economics Valuation Treasury Forecasting 100

Barry Ritholtz

AUGUST 20, 2024

And so in the 1990s, I developed the, the late 1980s, early 1990s, I developed a skillset around valuation, in particular discounted cash flow or residual income type models, along with a couple of peers out of the consulting industry. It’s, it’s double concentrated risk. It would go up, it should go up.

Concentration 69

Concentration Marketing Valuation Investments 69

CFO News Room

NOVEMBER 5, 2022

While private valuations have soared in recent years, public markets continue to be less kind to RIAs. Outside of work, he serves as a volunteer financial planner and class instructor for non-profits in the Northern Virginia area. Enjoy the ‘light’ reading! Author: Adam Van Deusen. Team Kitces. He can be reached at [email protected].

Mergers and Acquisitions (M&A) 130

Mergers and Acquisitions (M&A) Profit and Loss Investments Securities 130

Barry Ritholtz

DECEMBER 12, 2023

They announced a $640 million loss and ouch. But if, if it has a history of not being profitable, you you really want to exclude that. Low price stock has historically had some very large concentrated positions. The visibility on earnings they grew but they stayed profitable as, as they grew. So big loss.

Benchmarking 105

Benchmarking Concentration Investments Profit and Loss 105

Barry Ritholtz

JUNE 13, 2023

And so we go back to the basics of what our job should be, risk underwriting, risk assessment, asset prices are different from asset valuation. I mean the valuation is the future cash flow discounted at a risk-free rate plus a risk premium. RITHOLTZ: So let’s talk a little bit about valuations relative to risk and reward.

Investments 59

Investments Banking Entertainment Marketing 59

Barry Ritholtz

DECEMBER 14, 2022

And it became the most profitable private equity investment ever made and — it is true. And Blackstone’s funds through that period, generated substantial profits because we had made those good choices, not just about the investments — RITHOLTZ: Right. RITHOLTZ: Is that true? That’s amazing. Cambridge U.K.,

Mergers and Acquisitions (M&A) 64

Mergers and Acquisitions (M&A) Investments Construction Concentration 64

Barry Ritholtz

APRIL 11, 2023

 The transcript from this week’s, MiB: Aswath Damodaran: Valuations, Narratives & Academia , is below. You’re known as the dean of valuation. He said, oh, dean of valuation, it’s easier to say. So let’s start with the question, what led you to focus on valuation? RITHOLTZ: Right. And I said, why?

Valuation 119

Valuation Education Numbers Finance 119

Musings on Markets

FEBRUARY 4, 2023

Valuation and Investment Judgment I know that your intent in reading this thesis might be a more pragmatic one, where you wonder whether the Adani companies were over valued at the start of this year, when they hit their all time high, and whether they are a bargain, at half that price today.

Investments 100

Investments Valuation Auditing Restructuring 100

CFO News Room

FEBRUARY 5, 2023

Valuation and Investment Judgment I know that your intent in reading this thesis might be a more pragmatic one, where you wonder whether the Adani companies were over valued at the start of this year, when they hit their all time high, and whether they are a bargain, at half that price today.

Marketing 130

Marketing Investments Auditing Profit and Loss 130

Musings on Markets

MARCH 15, 2025

Blue-collar workers in developed markets : The flip side of the rise of China and other countries as manufacturing hubs, with lower costs of operation, has been the loss of manufacturing clout and jobs for the West, with factory workers in the United States, UK and Europe bearing the brunt of the cost.

Investments 132

Investments Profit and Loss Valuation Economics 132

Barry Ritholtz

APRIL 6, 2023

Known as the Dean of Valuation, he teaches Corporate Finance and Valuation to the MBA students at Stern where he has been voted “Professor of the Year” by the graduating M.B.A. His textbook “ Investment Valuation ” is the standard in the field. TBP ) see also Could Direct Indexing Lower Your Taxes?

Valuation 115

Valuation Profit and Loss Financial Analyst Concentration 115

Barry Ritholtz

FEBRUARY 20, 2024

And so you had a situation where you could take big positions in the euro dollar market, affect the price and the cash market and actually make a profit. And so then that, that crystallizes in a loss for the, for, for the, for the commercial bank. He said, oh, it’d take at least two or three weeks, really?

Treasury 59

Treasury Marketing Banking Economics 59