Musings on Markets

MAY 7, 2023

I also used the banking framework to argue that good banks have stickier deposits, with a higher precent of these deposits being non-interest bearing, that they invest in loans and investment securities on which they earn interest rates that cover and exceed the default risk in these investments. All Equity, All the time!

Banking 63

Banking Price to Book Dividends Book Value 63

Brian DeChesare

JUNE 1, 2022

The power & utilities investment banking team has a reputation for being “boring.”. Traditionally, the sector was viewed as a defensive play for investors who wanted stable dividends and no drama. We’ll get into these fun developments, but I want to start with the basic definitions: Power & Utilities Investment Banking Defined.

Banking 96

Banking Equity Book Value Capital Structure 96

Equilest

NOVEMBER 25, 2023

Uncover the intricacies of financial modeling, from understanding fundamental concepts like Free Cash Flow to Firm and Dividend Discount Model, to navigating advanced methodologies such as LBO and DCF. These interviews are not just a mere formality but a critical component of the hiring process in finance, investment banking, and consulting.

Discounted Cash Flow 52

Discounted Cash Flow Dividends Enterprise Value Terminal Value 52

Class VI Partner

JULY 28, 2021

Adjusted Net Book Value Adjusted Net Book Value is the Book Value of a business that has been adjusted to reflect the current market value of the assets and liabilities of a company. In this case, an adjustment to the value of these assets is required to determine Adjusted Net Book Value.

Book Value 52

Book Value Equity Enterprise Value Fair Market Value 52

Musings on Markets

JANUARY 9, 2021

Challenge rules of thumb and conventional wisdom : Investing has always had rules of thumb on how and when to invest, ranging from using historical PE or CAPE ratios to decide if markets are over valued, to simplistic rules (eg. buy stocks that trade at less than book value or trade at PEG ratios less than one) for individual stocks.

Risk Premium 52

Risk Premium Market Capitalization Equity Start-ups 52

Musings on Markets

FEBRUARY 4, 2023

Given the historical roots of the biggest Indian family groups, the Adani Group has been a recent entrant, not making the top ten list (in terms of either operating metrics like revenues or market-based numbers like market capitalization or enterprise value) as recently as ten years ago, and barely making the top ten list five or six years ago.

Start-ups 100

Start-ups Market Capitalization Marketability Equity 100