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Country Risk 2025: The Story behind the Numbers!

Musings on Markets

At the start of July, I updated my estimates of equity risk premiums for countries, in an semiannual ritual that goes back almost three decades. To estimate the cost of equity for an investment in a risky country. As with some of my other data updates, I have mixed feelings about publishing these numbers.

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How to Value Pre-Revenue Startups

Equidam

Valuation at this stage is vital for several reasons: it helps attract necessary investment, guides fair equity distribution among founders and early stakeholders, and serves as a benchmark for strategic planning and growth monitoring. Early indicators like user sign-ups, pilot programs, or letters of intent can exist even without sales.

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For the fun of it: An Open House for my Spring 2025 Classes

Musings on Markets

These data tables should be accessible and downloadable (in excel), and if you find yourself stymied, when doing so, trying another browser often helps. The data is updated once a year, at the start of the year, and the 2025 data update will be available around January 10, 2025.

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Is M&A turning around?

Financial Times M&A

Your browser does not support playing this file but you can still download the MP3 file to play locally. on whatsapp (opens in a new window) Save Published July 24 2025 Jump to comments section Print this page Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

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Forecasting Future Fraud: Q&A With Joanne Horton Of Warwick Business School

Global Finance

So, we would like to allow anyone to download our red flags. Its going to change your equity, your retained earnings, your profits, your earnings per share, your EBIT, your EBITDAall these numbers would change. We use quarterly data, which we download from Compustat. And its incredibly difficult.

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Data Update 1 for 2025: The Draw (and Danger) of Data

Musings on Markets

Thus, as you peruse my historical data on implied equity risk premiums or PE ratios for the S&P 500 over time, you may be tempted to compute averages and use them in your investment strategies, or use my industry averages for debt ratios and pricing multiples as the target for every company in the peer group, but you should hold back.

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Founders: Don’t fall in love with fake progress

Vested

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