Musings on Markets

AUGUST 19, 2024

In fact, the business life cycle has become an integral part of the corporate finance, valuation and investing classes that I teach, and in many of the posts that I have written on this blog. Tech companies age in dog years, and the consequences for how we manage, value and invest in them are profound.

Corporate Finance 98

Corporate Finance Valuation Investments Finance 98

Musings on Markets

JANUARY 28, 2024

In this post, I look at risk, a central theme in finance and investing, but one that is surprisingly misunderstood and misconstrued. Risk Measures There is almost no conversation or discussion that you can have about business or investing, where risk is not a part of that discussion. What is risk?

Hurdle Rate 94

Hurdle Rate Concentration Investments Finance 94

Musings on Markets

FEBRUARY 27, 2023

Debt's place in business To understand debt's role in a business, I will start with a big picture perspective, where you break a business down into assets-in-place, i.e., the value of investments it has already made and growth assets, the value of investments you expect it to make in the future. Do companies optimize financing mix?

Corporate Finance 52

Corporate Finance Finance Marketing Leverage 52