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Marking Time: A new year, a fresh semester and its class time!

Musings on Markets

Corporate Finance : Corporate finance is the development of the first financial principles that govern how to run a business. It is that mission that makes corporate finance the ultimate big picture class, one that everyone (entrepreneurs, investors, analysts, business observers) should take.

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Musings on Markets: Data Update 5 for 2022: The Bottom Line!

CFO News Room

Even though we live in an age where user platforms and hyper revenue growth can drive company valuations, that adage remains true. If anything, as rates have decreased over the last decade, and costs of capital for companies hit historic lows, companies are finding it more difficult to earn returns that exceed their costs of capital. .

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Data Update 5 for 2022: The Bottom Line!

Musings on Markets

Even though we live in an age where user platforms and hyper revenue growth can drive company valuations, that adage remains true. I will use this data to draw three broad conclusions: Low Hurdle Rate ? The proverbial bottom line for success in business is the capacity to deliver profits, at least in the long term.

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Risk = Danger + Opportunity!

CFO News Room

In the four decades that I have been teaching finance, I have always started my discussion of risk with a Chinese symbols for crisis, as a combination of danger plus opportunity: Over the decades, though, I have been corrected dozens of times on how the symbols should be written, with each correction being challenged by a new reader.

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Data Update 4 for 2022: Risk = Danger + Opportunity!

Musings on Markets

In the four decades that I have been teaching finance, I have always started my discussion of risk with a Chinese symbols for crisis, as a combination of danger plus opportunity: Over the decades, though, I have been corrected dozens of times on how the symbols should be written, with each correction being challenged by a new reader.

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Data Update 1 for 2024: The data speaks, but what does it say?

Musings on Markets

That year, I computed these industry-level statistics for five variables that I found myself using repeatedly in my valuations, and once I had them, I could not think of a good reason to keep them secret. After all, I had no plans on becoming a data service, and making them available to others cost me absolutely nothing. Beta & Risk 1.

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Musings on Markets: Data Update 1 for 2023: Setting the table!

CFO News Room

Data: Trickle to a Flood! It is perhaps a reflection of my age that I remember when getting data to do corporate financial analysis or valuation was a chore. Check rules of thumb : Investing and corporate finance are full of rules of thumb, many of long standing.

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