Musings on Markets

NOVEMBER 9, 2021

If you are interested, you can see my valuations from 2014 , 2016 and 2017. In this post , I argued that one of the key dividing lines between the two groups was flexibility , with companies with more flexible investing, financing and dividend policies winning out over companies with more rigidity on those dimensions.

Start-ups 101

Start-ups Dividends Marketability Market Capitalization 101

Musings on Markets

MAY 11, 2021

While one part of the proposal, reversing the 2017 tax cuts for those in the highest tax brackets from 39.6% The dividends that companies pay comes out of the earnings that they have left over after corporate taxes, and taxing that dividend again, when investors receive it, is clearly double taxation.

Dividends 52

Dividends Start-ups Risk Premium Treasury 52

Musings on Markets

FEBRUARY 23, 2025

Equity is cheaper than debt: There are businesspeople (including some CFOs) who argue that debt is cheaper than equity, basing that conclusion on a comparison of the explicit costs associated with each interest payments on debt and dividends on equity.

Equity 77

Equity EBITDA Risk Premium Gross Debt 77

Musings on Markets

APRIL 20, 2025

It happened to Microsoft in 2014, Apple in 2017, Nvidia in 2018, Tesla at multiple times in the last decade, and to Facebook, at the height of the Metaverse fiasco. Contrarian Investing: The Psychological Tests! In the abstract, it is easy to understand the appeal of contrarian investing.

Start-ups 136

Start-ups Price to Book Marketability Equity 136