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ESG Valuation Considerations – Top Down or Bottom Up?

Value Scope

Click to Download: ESG Valuation Considerations – Top Down or Bottom Up? This work can be used to reconcile and support an adjustment to the CAPM, then the WACC, via Alpha and Beta. It started sometime last year, during the fourth quarter. Adjustments to Beta can accomplish this. Executive Summary.

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A Follow up on Inflation: The Disparate Effects on Company Values!

Musings on Markets

Historical Data: 1930-2019 To see how this framework works in practice, let's start by looking at the performance of US stocks, across the decades, and look at the returns on stocks, broadly categorized based on market capitalization and price to book ratios.

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Tesla in November 2023 : Story twists and turns, with value consequences!

Musings on Markets

I was planning to start this post by telling you that Tesla was back in the news, but that would be misleading, since Tesla never leaves the news. As a lead in to updating the company’s valuation, it makes sense to start with the stock price, the market’s barometer for the company's health.

Start-ups 126
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Is Terex the Right Industrial Sector Stock to Own to Ride the Economic Recovery?

Andrew Stolz

In 2019, Terex sold its crane business. The efforts start to pay off as the operating profit achieves a higher level. Both ROIC and ROE could climb up to 20% in 21E. Significant increases in inventories and receivables as sales volume likely to ramp up as shown by the strong backlog. Balance sheet – Terex Corporation.

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The Zomato IPO: A Bet on Big Markets and Platforms!

Musings on Markets

Zomato, an Indian online food-delivery company, was opened up to public market investors on July 14, 2021, and its market debut is being watched for clues by a number of other online ventures in India, waiting in the wings to go public. The Zomato IPO clocks in at 420 pages , much of it designed to bore readers into submission.

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Distressed Debt Hedge Funds: How to Become a Vulture Capitalist

Brian DeChesare

Most dedicated distressed funds offer less liquidity and longer lock-up periods than other hedge funds, and they tend to hold positions for months or years with fairly concentrated portfolios. So, I would expect distressed performance to improve, especially as companies start to feel the effects of higher rates.

Equity 103
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Data Update 1 for 2024: The data speaks, but what does it say?

Musings on Markets

First, these categorizations were created close to twenty years ago, when I first started looking a global data, and many countries that were emerging markets then have developed into more mature markets now. Beta & Risk 1. Consequently, I do report industry averages for the two fastest growing emerging markets in India and China.

Dividends 106