Musings on Markets

MAY 7, 2023

In this post, I will begin by looking at how to value banks and follow up with an examination of investor views of banking have changed, by looking at pricing, before examining divergences in how banks are priced in the market today. All Equity, All the time!

Banking 86

Banking Price to Book Dividends Book Value 86

Musings on Markets

MARCH 19, 2022

The Market Reaction As the rhetoric of war has heated up in the last few months, markets were wary about the possibility of war, but as Russian troops have advanced into the Ukraine, that wariness has turned to sell off across markets. As Russian equities have imploded, the ripple effects again are being felt across the globe.

Start-ups 100

Start-ups Risk Premium Equity Market Capitalization 100

Musings on Markets

MARCH 25, 2021

The first quarter of 2021 has been, for the most part, a good time for equity markets, but there have been surprises. The arrival of the COVID in February 2020, and the ensuing market meltdown, causing treasury rates to plummet across the spectrum, with three-month T.bill rates dropping from 1.5%

Equity 52

Equity Risk-free Rate Treasury Start-ups 52

Musings on Markets

JANUARY 19, 2022

In this post, I will begin with a historical assessment of stock returns in the recent past, then move on to evaluate the returns that investors can expect to make, given how they are priced at the start of 2022, and end with a do-it-yourself valuation of the index right now. The year that was.

Risk Premium 99

Risk Premium Risk-free Rate Start-ups Equity 99

Musings on Markets

DECEMBER 10, 2023

In an earlier episode, Nike also lost billions in market capitalizations, when Michael Jordan, an NBA superstar whose name-branded footwear (Air Jordan) had become a game changer for Nike, unexpectedly announced in 1993 , that he would be retiring from basketball, to play baseball.

Key Person Discount 130

Key Person Discount Start-ups Price to Book Marketability 130

Musings on Markets

FEBRUARY 4, 2023

Given the historical roots of the biggest Indian family groups, the Adani Group has been a recent entrant, not making the top ten list (in terms of either operating metrics like revenues or market-based numbers like market capitalization or enterprise value) as recently as ten years ago, and barely making the top ten list five or six years ago.

Start-ups 100

Start-ups Market Capitalization Marketability Equity 100

Musings on Markets

APRIL 20, 2025

For the market, it is often built on papers (or books) that look at the historical data on what equity markets have delivered as returns over long periods, relative to what you would have made investing elsewhere.

Start-ups 136

Start-ups Price to Book Marketability Equity 136

Musings on Markets

JANUARY 26, 2025

In my first two data posts for 2025, I looked at the strong year that US equities had in 2024, but a very good year for the overall market does not always translate into equivalent returns across segments of the market. trillion, almost of the entire market's gain for the year. The Value Premium?

Price to Book 78

Price to Book Start-ups Book Value Marketability 78