Data Update 8 for 2025: Debt, Taxes and Default - An Unholy Trifecta!
Musings on Markets
FEBRUARY 23, 2025
The Debt Trade off As a prelude to examining the debt and equity tradeoff, it is best to first nail down what distinguishes the two sources of capital. 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.
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