Data Update 8 for 2025: Debt, Taxes and Default - An Unholy Trifecta!
Musings on Markets
FEBRUARY 23, 2025
The Debt Trade off As a prelude to examining the debt and equity tradeoff, it is best to first nail down what distinguishes the two sources of capital. To me, the key distinction between debt and equity lies in the nature of the claims that its holders have on cash flows from the business.
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