Musings on Markets

NOVEMBER 4, 2022

After a rough start, with its stock price halving by August 2012 , the company embarked on an extraordinary run in markets, adding almost $900 billion to its market capitalization to briefly breach a trillion dollars in July 2021. billion, but it generated an operating margin of 47.3%, with its online advertising model.

Start-ups 106

Start-ups Market Capitalization Marketability Dividends 106

Reynolds Holding

NOVEMBER 30, 2023

On November 21, 2023, the staff of the Securities and Exchange Commission’s (SEC’s) Division of Corporation Finance issued eight new Compliance & Disclosure Interpretations (C&DIs), and revised two previously issued C&DIs, relating to the final pay-versus-performance (PVP) disclosure rules adopted last year. Answer: Yes.

Compliance 40

Compliance Total Shareholder Return Dividends Market Capitalization 40

Musings on Markets

JANUARY 31, 2024

Your answer to that question will determine not just how you approach running the business, but also the details of how you pick investments, choose a financing mix and decide how much to return to shareholders, as dividend or buybacks.

Equity 83

Equity Book Value Start-ups Corporate Finance 83

Musings on Markets

FEBRUARY 8, 2022

Risk and Hurdle Rates In investing and corporate finance, we have no choice but to come up with measures of risk, flawed though they might be, that can be converted into numbers that drive decisions. In corporate finance, this takes the form of a hurdle rate , a minimum acceptable return on an investment, for it to be funded.

Risk Premium 93

Risk Premium Beta Start-ups Equity 93

Brian DeChesare

AUGUST 31, 2022

For simplicity, I am ignoring the interest, dividends, borrowing costs, and other fees, but this example is the general idea with convertible arbitrage. Convertible Securities: A Complete Guide to Investment and Corporate Financing Strategies. billion, up from $4.7 The increased volatility is the key.

Banking 89

Banking Risk-free Rate Equity Start-ups 89

Reynolds Holding

MARCH 5, 2023

The staff of the Securities and Exchange Commission’s (SEC’s) Division of Corporate Finance recently issued guidance to address open questions related to the final pay-versus-performance (PVP) disclosure rules adopted in 2022. However, it is not clear whether or how this informal guidance from 2014 applies to the PVP rules.

Equity 45

Equity Dividends Total Shareholder Return Corporate Finance 45

Brian DeChesare

SEPTEMBER 11, 2024

Finally, many renewable energy debt deals take place within Project Finance teams at banks – but Project Finance and corporate finance are very different ! A good example is the 2020 – 2021 period, when SPAC activity went vertical, and plenty of renewable energy companies used SPACs to go public.

Banking 59

Banking Finance Start-ups Equity 59

Musings on Markets

JANUARY 8, 2022

Those measures took a beating in 2020, as COVID decimated the earnings of companies in many sectors and regions of the world, and while 2021 was a return to some degree of normalcy, there is still damage that has to be worked through. Louis, FRED , which contains historical data on almost every macroeconomic variable, at least for the US.

Risk Premium 99

Risk Premium Start-ups Market Capitalization Corporate Finance 99

Musings on Markets

MAY 11, 2021

The Taxation of Investment Income In much of the world, income from investments (interest, dividends) is treated differently than earned income (salary, wages), by the tax code, and the reasons for the divergence are both practical and political: 1.

Dividends 52

Dividends Start-ups Risk Premium Treasury 52

Reynolds Holding

APRIL 9, 2025

On April 4, 2025, the staff of the SECs Division of Corporation Finance (the Staff) issued a statement addressing the status of certain stablecoins under the U.S. Holders receive no interest, dividends, or other return from mere ownership of the token. securities laws.

Banking 45

Banking Compliance Treasury Corporate Finance 45

Reynolds Holding

DECEMBER 22, 2024

Levien, [11] in which the Sinclair parent used its control over its partially owned Venezuelan subsidiary Sinven to produce a dividend payout of virtually all Sinvens profits, which had the effect of denying Sinven the freedom to pursue energy opportunities outside of Venezuela. 26, 2021), affd sub nom. Brealey et al., 2020); Ronald J.

Dividends 45

Dividends Compliance Marketability Firm-specific Risk 45

Reynolds Holding

MAY 12, 2025

For example, on-chain securities can utilize smart contracts to transparently distribute dividends to shareholders on a regular cadence. 13, 2021, available at [link]. [4] 7] See Division of Corporation Finance, Offerings and Registrations of Securities in the Crypto Asset Markets, Apr. 13, 2021, available at [link]. [4]

Corporate Finance 45

Corporate Finance Marketability Finance Technology 45