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

Musings on Markets

Since I am lucky enough to have access to databases that carry data on all publicly traded stocks, I choose all publicly traded companies, with a market price that exceeds zero, as my universe, for computing all statistics. Costs of equity & capital 4. Financing Flows 5. Costs of equity & capital 1. Tax rates 4.

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Data Update 1 for 2023: Setting the table!

Musings on Markets

Check rules of thumb : Investing and corporate finance are full of rules of thumb, many of long standing. For example, I have seen it asserted that a stock that trades at less than book value is cheap or that a stock that trades at more than twenty times EBITDA is expensive. Cost of Capital 3. Cost of Debt 2.