Musings on Markets

JANUARY 27, 2022

By the end of 2021, it was clear that this bout of inflation was not as transient a phenomenon as some had made it out to be, and the big question leading in 2022, for investors and markets, is how inflation will play out during the year, and beyond, and the consequences for stocks, bonds and currencies.

Treasury 84

Treasury Currencies Investments Numbers 84

CFO News Room

JANUARY 11, 2023

Country Risk: Drivers and Measures. An investment in Nigeria or Turkey clearly exposes a firm or investor to more risks than an otherwise similar investment in Germany or Canada, but why? Country Risk: Currency and Cost of Capital.

Marketing 130

Marketing Currencies Valuation Treasury 130

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. The Lead In. Economic Consequences. Consumer Confidence and Economic Growth.

Economics 130

Economics Valuation Treasury Forecasting 130

Musings on Markets

SEPTEMBER 27, 2022

In a third post on July 1, 2022 , I pointed to inflation as a key culprit in the retreat of risk capital, i.e., capital invested in the riskiest segments of every market, and presented evidence of the impact on risk premiums (bond default spreads and equity risk premiums) in markets.

Treasury 74

Treasury Valuation Currencies Forecasting 74

Musings on Markets

MAY 6, 2022

Inflation: The Full Story I wrote my first post on this blog in 2008, and inflation merited barely a mention until 2020, though it is an integral component of investing and valuation. Investors who are old enough to remember the 1970s point to it as a decade of high inflation, but that is only with the benefit of hindsight.

Treasury 92

Treasury Economics Investments Marketing 92

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 fact, since trading has been suspended on both indices, the extent of the damage is probably understated.

Economics 100

Economics Valuation Treasury Forecasting 100

Musings on Markets

JANUARY 8, 2022

Not surprisingly, Moneyball has found its way into business and investing as well. After all, we get our restaurant choices from Yelp reviews, our movie recommendations from Rotten Tomatoes, and we have even built crypto currencies around the notion of crowd-checking transactions. Don't get me wrong!

Valuation 91

Valuation Corporate Finance Currencies Finance 91

Musings on Markets

JULY 13, 2022

Country Risk: Drivers and Measures An investment in Nigeria or Turkey clearly exposes a firm or investor to more risks than an otherwise similar investment in Germany or Canada, but why? That increase in interest rates is not restricted to the US dollar, as local currency government bond rates have risen around the world.

Currencies 81

Currencies Economics Valuation Treasury 81

CFO News Room

JANUARY 12, 2023

To put risk capital in perspective, it is best to start with a definition of risk that is comprehensive and all-inclusive, and that is to think of risk as a combination of danger (downside) and opportunity (upside) and to consider how investments vary in terms of exposure to both.

Investments 130

Investments Profit and Loss Treasury Marketing 130

Musings on Markets

JULY 25, 2023

To the extent that divide is not just descriptive, but also drives real world investment, both companies and investors may be misallocating their capital, and I will argue for finer delineations of risk.

Hurdle Rate 52

Hurdle Rate Currencies Valuation Marketing 52

PYMNTS

NOVEMBER 3, 2020

The $20 trillion in corporate payments done through paper checks represents a staggeringly large greenfield opportunity – and there is any number of ways to modernize B2B interactions (and corporate treasury activities in lockstep). And though valuations may be stretched, fundamentals are indeed sound. That’s where the market’s going.

B2B 82

B2B Treasury Accounts Payable Communication 82

Musings on Markets

JANUARY 9, 2021

Put simply, I possess no exclusivity here, and staying consistent with my thesis, I don't expect to expect to make money by investing based upon this data. First, all value numbers (like market capitalization, debt or revenues) that I aggregate or average will be converted into US dollars to ensure currency consistency.

Valuation 52

Valuation Currencies Numbers Corporate Finance 52

PYMNTS

FEBRUARY 15, 2019

The currency isn’t going to work,” the executive said. You can’t have a business where people can invent a currency out of thin air and think that people who are buying it are really smart.”. Moreover, that lag time, apart from being annoying, added to the opacity of the pricing, since currency exchange rates fluctuate.

Currencies 73

Currencies Banking Valuation Treasury 73

Barry Ritholtz

OCTOBER 17, 2023

  The transcript from this week’s MiB: Graeme Forster, Orbis Investments , is below. Barry Ritholtz] This week on the podcast, I have an extra special guest, Graham Foster’s pm at Orbis Investment Management. They have a truly unique approach to investing. Is that poker, is that investing sounds like both.

Investments 52

Investments Valuation Math Numbers 52

Musings on Markets

JULY 1, 2022

To put risk capital in perspective, it is best to start with a definition of risk that is comprehensive and all-inclusive, and that is to think of risk as a combination of danger (downside) and opportunity (upside) and to consider how investments vary in terms of exposure to both.

Marketing 88

Marketing Investments Profit and Loss Treasury 88

Musings on Markets

JANUARY 20, 2021

The Price of Risk The price of risk is what investors demand as a premium, an extra return over and above what they can make on a guaranteed investment (risk free), to invest in a risky asset. Intuitively, if you want to earn a higher risk premium on an investment, holding cash flows fixed, you will pay less for that investment today.

Treasury 52

Treasury Investments Valuation Hurdle Rate 52

Future CFO

DECEMBER 7, 2020

Teoh shared with us her thoughts on some of the gender-related challenges at work and how to overcome them, advice on how to deal with the new normal as a finance executive, and how she reimagines borderless digital currencies as a “point junkie”. Sereen Teoh, CFO, BIG Loyalty. FutureCFO: Can you share with me your finance career journey?

CFO 52

CFO Financial Planning and Analysis (FP&A) Leadership Finance 52

CFA Institute

DECEMBER 5, 2018

“Most people tell me that long-run equity valuation data is meaningless," says Russell Napier. "I I think they’re wrong.”.

Marketing 52

Marketing Valuation Treasury Currencies 52

Barry Ritholtz

NOVEMBER 8, 2022

His latest book could not be more timely, “The Price of Time: The Real Story of Interest,” it’s all about the history of interest rates, money lending, investing speculation, funded by banks and loans and credit. You can imagine, you give a bearish message at a bullish investment conference, and no one listens to you.

Valuation 57

Valuation Finance Investments Banking 57

Barry Ritholtz

FEBRUARY 13, 2023

He holds all sorts of fascinating titles in addition to chief investment officer for bonds. trillion in various investments. If you’re at all interested in a lecture school in investing or fixed income, or active and passive, this is just a masterclass as to how to do it right. You’re chief investment officer.

Mergers and Acquisitions (M&A) 57

Mergers and Acquisitions (M&A) Investments Marketing Education 57

Barry Ritholtz

AUGUST 16, 2022

If you’re all interested in macro investing, trend following, commodities, currencies, fixed income, various types of quantitative strategies, and most important of all, risk management, you’re going to find this conversation to be absolutely fascinating. RITHOLTZ: And those were Treasuries. TROPIN: Right.

Profit and Loss 118

Profit and Loss Foreign Exchange Valuation Investments 118

Barry Ritholtz

DECEMBER 20, 2022

His name is Robert Koenigsberger, and he has a fascinating career in emerging market, opportunistic and distressed debt investing. If you’re interested in what it’s like investing in emerging market debt, how that part of the investment firm has changed over the decades as the world itself has changed.

Restructuring 61

Restructuring Investments Marketing Banking 61

Barry Ritholtz

NOVEMBER 7, 2023

The, it’s not even return on investment, here’s our $50 billion. And I would tell them, well listen, first of all, as a reporter, I’m not supposed to invest in anything. So now if you wanna invest in MicroStrategy stock, it’s just a bet on Bitcoin. Put it in Riskless Treasuries.

Numbers 61

Numbers Profit and Loss Banking Finance 61