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Market Resilience or Investors In Denial? A Mid-year Assessment for 2023!

Musings on Markets

In my third post at the start of 2023, I looked at US treasuries, the long-touted haven of safety for investors. In 2022, they were in the eye on the storm, with the ten-year US treasury bond depreciating in price by more than 19% during the year, the worst year for US treasury returns in a century. that was lost last year.

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Data Update 3: Inflation and its Ripple Effects!

Musings on Markets

Put simply, no central bank, no matter how powerful, can force market interest rates down, if inflation expectations stay low, or up, if investor are anticipating high inflation. For those who track the slope of the yield curve, and I am not one of those who believes that it has much predictive power, it was a confusing year.

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

Musings on Markets

Not surprisingly, the company listings are across the world, and I look at the breakdown of companies, by number and market cap, by geography: As you can see, the market cap of US companies at the start of 2025 accounted for roughly 49% of the market cap of global stocks, up from 44% at the start of 2024 and 42% at the start of 2023.

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EV/EBITDA Explained: A Key Valuation Multiple for Investors

Valutico

EV typically includes Market Capitalization, Debt, Minority Interest, and Preferred Equity, minus Cash & Cash Equivalents. A primary advantage is providing a “debt-neutral” valuation, making comparisons easier between companies with different capital structures.

EBITDA 52
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Anatomy of a Market Crisis: Tariffs, Markets and the Economy!

Musings on Markets

In percentage terms, energy stocks have lost the most in value, with market capitalizations dropping by 14.2%, dragged down by declining oil prices. trillion) were close in percentage terms to the losses in the rest of the market. Other Markets As equity markets reacted to the tariff announcement, other markets followed.

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Data Update 2 for 2024: A Stock Comeback - Winning the Expectations Game!

Musings on Markets

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.

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How SPACs Disable Indirect Investor Protection

Reynolds Holding

The IPO investors’ cash consideration is invested in treasury securities in a trust account. For simplicity, we assume that the treasury rate is exactly zero. The market is efficient – but it prices the cash flows that will accrue to sophisticated investors who know they can and should redeem.