Musings on Markets
JANUARY 17, 2024
That positive result notwithstanding, the recovery was uneven, with a big chunk of the increase in market capitalization coming from seven companies (Facebook, Amazon, Apple, Microsoft, Alphabet, NVidia and Tesla) and wide divergences in performance across stocks, in performance. increase in market capitalization.
Musings on Markets
JANUARY 21, 2023
The first is the dividends you receive, while you hold stocks, a cash flow stream that provides a measure of stability to investors who seek it. trillion in market capitalization, but for balance, it is also worth noting that US equities are still holding on to a gain of $6.9
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Musings on Markets
JANUARY 5, 2024
I have also developed a practice in the last decade of spending much of January exploring what the data tells us, and does not tell us, about the investing, financing and dividend choices that companies made during the most recent year. Beta & Risk 1. Dividends and Potential Dividends (FCFE) 1. Equity Risk Premiums 2.
Musings on Markets
JANUARY 19, 2022
When you augment this price change with the dividends on the index during 2021, the total return on the S&P 500 for 2021 was 28.47%. To get a measure of what equity markets are offering in terms of expected returns, we are better served with a forward-looking and dynamic measure of these returns, and that is the focus of this section.
Musings on Markets
JULY 17, 2023
Exacerbating the pain, corporate default spreads rose during the course of 2022: While default spreads rose across ratings classes, the rise was much more pronounced for the lowest ratings classes, part of a bigger story about risk capital that spilled across markets and asset classes. that was lost last year.
Musings on Markets
JANUARY 6, 2023
When valuing or analyzing a company, I find myself looking for and using macro data (risk premiums, default spreads, tax rates) and industry-level data on profitability, risk and leverage. Data universe : In my sample, I include all publicly traded firms with market capitalizations that exceed zero, traded anywhere in the world.
Musings on Markets
JANUARY 8, 2022
Regional Breakdown My data sample for 2022 includes every publicly traded firm that is traded anywhere in the world, with a market capitalization that exceeds zero. It is also why I report only aggregated data on industries, rather than company-level data.
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