Musings on Markets

JANUARY 8, 2022

To start the year, I returned to a ritual that I have practiced for thirty years, and that is to take a look at not just market changes over the last year, but also to get measures of the financial standing and practices of companies around the world. Happy New Year, and I hope that 2022 brings you good tidings!

Risk Premium 91

Risk Premium Start-ups Market Capitalization Corporate Finance 91

Essentials of Corporate Finance

JANUARY 5, 2022

If you are not familiar with BTCS, the company has two full-time employees, a market capitalization of about $46 million, and hasn't shown a profit for the last four years. The company will pay each shareholder the equivalent of 5 cents in bitcoin or cash, at the discretion of the shareholder.

Market Capitalization 52

Market Capitalization Technology Marketability 52

Benzinga

MARCH 20, 2024

Enhances Capital Markets Profile and Shareholder Base : The pro forma Company is expected to have a market capitalization of over ~C$129 million and ~C$11 million 3 in combined cash to fund exploration, allowing increased access to capital and trading liquidity.

Market Capitalization 59

Market Capitalization Corporate Finance Marketability Finance 59

Musings on Markets

JANUARY 9, 2021

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.

Risk Premium 52

Risk Premium Market Capitalization Equity Start-ups 52

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.

Compliance 40

Compliance Total Shareholder Return Dividends Market Capitalization 40

Musings on Markets

FEBRUARY 27, 2023

Note that this framework applies for all businesses, from the smallest, privately owned businesses, where debt takes the form of bank loans and even credit card borrowing and equity is owner savings, the largest publicly traded companies, where debt can be in the form of corporate bonds and equity is shares held by public market investors.

Equity 52

Equity EBITDA Start-ups Net Debt 52

Musings on Markets

FEBRUARY 27, 2022

That said, about 31% of the net profits of all publicly traded firms listed globally in 2021 were generated by financial service firms; that percent is lower in the US and higher in emerging markets. IFRS and GAAP now treat as leases as debt, but that is still not the case in many other markets that are not covered by either standard).

Start-ups 80

Start-ups Equity Book Value Marketability 80