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Data Update 8 for 2025: Debt, Taxes and Default - An Unholy Trifecta!

Musings on Markets

It was only in 2019 that the accounting rule-writers (IFRS and GAAP) finally did the right thing, albeit with a myriad of rules and exceptions. When the debt is within reasonable bounds (scaling up with the company), a company can borrow money, and not lower its ratings.

Equity 77
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Digital Assets Break Out

Global Finance

Indeed, stablecoin market capitalization reached $230 billion in mid-March, up 56% from a year earlier; analysts at Bernstein predict market cap could exceed $500 billion by yearend. Facebooks Libra stablecoin, announced back in 2019, spurred digital currency awareness among central banks. We will have branded money.

Banking 84
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The (Uncertain) Payoff from Alternative Investments: Many a slip between the cup and the lip?

Musings on Markets

That said, they represent actions that you would take with diametrically opposite views of the same stock (asset), with being long (going short) making sense on assets where you expect prices to go up (down). again a process that has been around a while, but one that has also become formalized and a much larger source of funds.

Alpha 76
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Data Update 2 for 2023: A Rocky Year for Equities!

Musings on Markets

I will follow up by looking at the mechanics that connect stock prices to inflation, and examine why the damage from higher inflation can vary across companies and sectors. The first is the dividends you receive, while you hold stocks, a cash flow stream that provides a measure of stability to investors who seek it. Stocks: The What?

Equity 96
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2023 Investment and Market Updates: A Review of the Worst Year Since 1871

Brian DeChesare

In March, the Fed finally started hiking rates, and in May and June, the pace accelerated; the federal funds rate ended the year in the 4.25% – 4.50% range, the highest level since 2007. Here it is as of January 3 rd , with differences vs. the start of 2022 in brackets: Equities: 31% [Down 7%]. Treasuries: 19% [Up 19%].

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

Musings on Markets

I have also developed a practice in the last decade of spending much of January exploring what the data tells us, and does not tell us, about the investing, financing and dividend choices that companies made during the most recent year. Dividends and Potential Dividends (FCFE) 1. Beta & Risk 1. Return on Equity 1.

Dividends 106