Musings on Markets

AUGUST 15, 2023

During 2022, the US treasury did not default, but an investor in a 10-year US treasury bond would have earned a return of -18% on his or her investment, as bond prices dropped. and how much to hold in investments with guaranteed returns over their time horizon (cash, treasury bill and treasury bonds).

Investments 80

Investments Currencies Treasury Hurdle Rate 80

Future CFO

JULY 15, 2020

It requires professionals to forecast a company’s financials using an intimate understanding of the organization’s historical performance and the key assumptions and trends that will shape its future. What is FP&A? It is never easy when it comes to managing human talent.

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Education Finance Manufacturing 52

Future CFO

DECEMBER 7, 2020

ST: I’m reporting to the CEO and board of directors, providing leadership in all aspects of business and finance, including strategic planning, annual business plan, rolling forecast, financial management, treasury, regulatory reporting, internal controls, taxation, and procurement.

CFO 52

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

Musings on Markets

JANUARY 8, 2022

Risk free Rates : While the US treasury bond rate is widely reported, I contrast its actual value with what I call an intrinsic measure of the rate, computed by adding the inflation rate to real growth each year at this link.

Valuation 91

Valuation Corporate Finance Currencies Finance 91

Musings on Markets

JANUARY 9, 2021

The conventional approach to measuring this premium is looking at past returns on stocks and treasuries (or something close to riskfree) and measuring the difference in historical returns and I report the updated levels (through 2020) for historical premiums for stocks over treasuries in this dataset.

Valuation 52

Valuation Currencies Numbers Corporate Finance 52

Barry Ritholtz

DECEMBER 28, 2022

All you had to do as a money market fund manager is buying the standard stuff, Treasury bills, commercial paper and the like. You could argue also, Ben Graham and David Dodd because of their wonderful book, Security Analysis, which was the first affirmation of professionalism in the financial analysis and securities pricing industry.

Profit and Loss 70

Profit and Loss Investments Marketing Sales 70

Musings on Markets

JULY 25, 2023

Risk Scores The advantage of default spreads is that they provide an observable measure of risk that can be easily incorporated into discount rates or financial analysis. The disadvantage is that they are focused on just default risk, and do not explicitly factor in the other risks that we enumerated in the last section.

Hurdle Rate 52

Hurdle Rate Currencies Valuation Marketing 52