Remove 2021 Remove Market Capitalization Remove Price to Book
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Data Update 3: Inflation and its Ripple Effects!

Musings on Markets

Inflation numbers have been coming in high now, for more than a year, but for much of the early part of 2021, bankers, investors and politicians seemed to be either in denial or casually dismissive of its potential for damage.

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Data Update 1 for 2021: A (Data) Look Back at a Most Forgettable Year (2020)!

Musings on Markets

I spent the first week of 2021 in the same way that I have spent the first week of every year since 1995, collecting data on publicly traded companies and analyzing how they navigated the cross currents of the prior year, both in operating and market value terms.

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Market Resilience or Investors In Denial? A Mid-year Assessment for 2023!

Musings on Markets

It is true that economic activity has leveled off and housing prices have declined a little, relative to a year ago, but given the rise in rates in 2022, those changes are mild. If anything, the economy seems to have settled into a stable pattern, albeit at the high levels that it reached in the second half of 2021.

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Data Update 1 for 2023: Setting the table!

Musings on Markets

Data universe : In my sample, I include all publicly traded firms with market capitalizations that exceed zero, traded anywhere in the world. Standard deviation in stock price 2. Price to Book 3. Cost of Capital 3. High-Low Price Risk Measure 5. EV/Sales and Price/Sales 5. Cost of Equity 1.

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Data Update 2 for 2022: US Stocks kept winning in 2021, but…

Musings on Markets

Leading into 2021, the big questions facing investors were about how quickly economies would recover from COVID, with the assumption that the virus would fade during the year, and the pressures that the resulting growth would put on inflation.

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Good (Bad) Banks and Good (Bad) Investments: At the right price.

Musings on Markets

Consequently, you can only value the equity in a bank, and by extension, the only pricing multiples you can use to price banks are equity multiples (PE, Price to Book etc.).

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Russia in Ukraine: Let Loose the Dogs of War!

Musings on Markets

Russia was also a leading exporter of these commodities, with a disproportionately large share of its oil and gas production going to Europe; in 2021, Russian gas accounted to 45% of EU gas imports. A few weeks ago, I posted my valuation of the FANGAM stocks and noted that only one of them was under valued, at the prices prevailing then.

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