Download spreadsheet to value S 
Musings on Markets
JANUARY 21, 2023
It is the nature of stocks that you have good years and bad ones, and much as we like to forget about the latter during market booms, they recur at regular intervals, if for no other reason than to remind us that risk is not an abstraction, and that stocks don't always win, even in the long term. Stocks: The What? at the start of that year.
Musings on Markets
AUGUST 5, 2023
If you have been reading my posts, you know that I have an obsession with equity risk premiums, which I believe lie at the center of almost every substantive debate in markets and investing. How, you may ask, can equity risk premiums be that divergent, and does that imply that anything goes? What is it?
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Musings on Markets
JANUARY 19, 2022
In a post at the start of 2021 , I argued that while stocks entered the year at elevated levels, especially on historic metrics (such as PE ratios), they were priced to deliver reasonable returns, relative to very low risk free rates (with the treasury bond rate at 0.93% at the start of 2021). The year that was.
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 first has been the steep rise in treasury rates in the last twelve weeks, as investors reassess expected economic growth over the rest of the year and worry about inflation.
Musings on Markets
JANUARY 20, 2021
Investors are constantly in search of a single metric that will tell them whether a market is under or over valued, and consequently whether they should buying or selling holdings in that market. Does the price of risk have to be positive? The answer depends on whether human beings are risk averse or not.
Musings on Markets
OCTOBER 4, 2023
In this post, I will look at how markets did during the third quarter of 2023, and use that performance as the basis for examining risk capital's presence (or absence) in markets. The Markets in the Third Quarter Coming off a year of rising rates in 2022, interest rates have continued to command center stage in 2023. billion.
Musings on Markets
MAY 6, 2022
The good news is that the culprit behind the volatility is easy to identify, and it is inflation, but the bad news is that inflation remains the most unpredictable of all macroeconomic factors to factor into stock prices and value.
Expert insights. Personalized for you.
70 
Let's personalize your content