Musings on Markets

AUGUST 5, 2023

In short, the expected return on a risky investment can be constructed as the sum of the returns you can expect on a guaranteed investment, i.e., a riskfree rate, and a risk premium, which will scale up as risk increases.

Treasury

PYMNTS

DECEMBER 11, 2019

When B2B partners are trading on 30-, 60- or even 90-day terms, currency valuations can vary significantly from when a business receives an invoice versus when that invoice is paid. “My belief has been that a cross-border payment is actually a synthetic construct,” he said. ” The Power Of Collaboration. ”

B2B

CFO Leadership

JANUARY 25, 2024

The US Treasury yield rate’s descent below 4% has spurred active pursuit of distressed office market opportunities by value-add funds. billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. In 2021, the firm had revenue of $9.4

Marketing

Barry Ritholtz

SEPTEMBER 25, 2024

TIPS are Treasury Inflation Protective Securities that get an adjustment for inflation, so the primary risk to bonds was that inflationary period. How should investors think about equities when valuations are a little elevated? So people say, again, I get 5% in risk-free treasuries. But you actually had negative.

Investments

CFO Leadership

JANUARY 5, 2024

The US Treasury yield rate’s descent below 4% has spurred active pursuit of distressed office market opportunities by value-add funds. billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. In 2021, the firm had revenue of $9.4

Marketing

Barry Ritholtz

AUGUST 16, 2022

RITHOLTZ: And those were Treasuries. And so that’s a really fertile, constructive environment for us to try and generate returns. But will it be volatile enough for it to be fertile for what we do and constructive for what we do? And last market question, so we’ve seen equity valuations come down. No, no, no.

Profit and Loss

Barry Ritholtz

FEBRUARY 12, 2024

And since we’re looking for narratives as opposed, and then do valuation work second as opposed to cheap, we don’t screen. We’ve had a wild shortfall in home construction in the 2010s following the financial crisis. What is it that we think is likely to be misunderstood about something?

Investments

Barry Ritholtz

AUGUST 15, 2023

It’s much more about security selection and a relatively static portfolio construction. So you go back a couple of years and you could say, “Well, what return is available buying a treasury?” What’s the valuation? You still had 2012 to 2017 to finish the bet. So you say, “Well, we need to invest.

Investments

Barry Ritholtz

AUGUST 29, 2023

So I was a mile deep on a subject matter of bond indexing, but now I had the opportunity to lead an equity indexing group, the entire fixed income team, our investment strategy team that does research for our clients around portfolio construction, those types of things. They create the benchmark. DAVIS: So on the bond side, we have both.

Investments

Musings on Markets

MARCH 25, 2021

The first has been the steep rise in treasury rates in the last twelve weeks, as investors reassess expected economic growth over the rest of the year and worry about inflation. The Stocks Story As treasury rates have risen in 2021, equity markets have been surprisingly resilient, with stocks up during the first three months.

Investments

CFO News Room

NOVEMBER 5, 2022

While private valuations have soared in recent years, public markets continue to be less kind to RIAs. Swimming against the tide of I Bond popularity, Arends currently prefers investing in Treasury Inflation Protected Securities (TIPS) to I Bonds. Enjoy the ‘light’ reading! Author: Adam Van Deusen. Team Kitces. TIPS are a type of U.S.

Mergers and Acquisitions (M&A)

Barry Ritholtz

SEPTEMBER 26, 2023

First time in decades, treasuries and investment grade corporates, it’s, it’s an attractive yield at five 5.5%. Yeah, 00:25:49 [Speaker Changed] It’s, it’s from an absolute return standpoint, treasuries IG corporates are high yield bonds are more attractive than they’ve been in very long time.

Investments

Barry Ritholtz

OCTOBER 17, 2023

Then the volatility and, and the valuation makes an enormous difference. And 00:25:02 [Speaker Changed] And this isn’t a theoretical construct, this is literally the cash is pulled aside, held in escrow on the client’s behalf. And the 10 year yield of A A A J G B or or a or a, a treasury or a bond.

Investments

Barry Ritholtz

DECEMBER 20, 2022

It’s just a fascinating conversation about looking at the world from both bottoms up and top-down, as well as thinking about what valuations are like, how likely are macro events, the impact you’re getting not just the return on capital, but as famously said in fixed income, a return of your capital. Treasury, the OFAC restrictions.

Restructuring

Barry Ritholtz

OCTOBER 21, 2024

So let’s say you have, you know, a thousand basis points over the treasury is a, say a distressed situation. So 00:35:00 [Speaker Changed] It’s just think about just the construct, right? It, it’s, you just, everyone hopes that their culture is sustainable and constructive and not toxic. We do a lot of surveys.

Numbers

Barry Ritholtz

FEBRUARY 13, 2023

But since you mentioned getting return on the risk you take, how do you think about duration when the three-month Treasury is more or less the same or better than the 10-year? Now, we’re shifting to more international places like China, Europe, et cetera, that are really growing, and that valuations are cheaper. RIEDER: Yeah.

Mergers and Acquisitions (M&A)

Barry Ritholtz

MARCH 12, 2024

So we could construct trades that had very, very low premiums to sell this volatility to, to basically join the consumer on their side of the trade, which is in essence buying insurance on, on the bonds that were exposed to these great risk. We participated in that with treasury and FHFA and the regulators, the White House.

Profit and Loss

Barry Ritholtz

MARCH 26, 2024

00:31:56 [Speaker Changed] Not only that, but again, the fact that breath under the surface was con improving was 00:32:00 [Speaker Changed] Constructive. Now we have an environment wherein essentially hold to maturity risk-free treasuries and things like, you know, money market funds, a lot of money has, has gone back in that direction.

Investments

Barry Ritholtz

MAY 16, 2023

Literally the first check-in to Robinhood, which went public in 2021 at about a $34 billion valuation. But anyway, it was a beautifully constructed stress ball called the Grip. RITHOLTZ: He was the first (inaudible) in round B at the higher valuation. Is it about the valuation? It was four tension. Now think about that.

Leverage