Musings on Markets

FEBRUARY 11, 2023

A few weeks ago, I posted my first data update pulling together what I had learned from looking at the data in 2023, and promised many more on the topic. Default Risk As with individuals and businesses, governments (sovereigns) borrow money and sometimes struggle to pay them back, leading to to the specter of sovereign default.

Risk Premium 76

Risk Premium Start-ups Equity Marketability 76

FE International

MARCH 23, 2022

The owner is likely to pay themselves a salary for the work – which may not be correlated with the market rate and pay several personal items through the business for tax efficiency. Enterprise companies, those with customers paying more than $250k per year are typically closer to 1%. More technical input from the owner (i.e.

EBITDA 105

EBITDA Start-ups Business Valuation Marketability 105

Farrel Fritz

JULY 25, 2022

The topic of mergers between two business entities designed to involuntarily extinguish the equity interest of a minority owner in exchange for cash is one of our favorites on New York Business Divorce. Van Dale again demanded a bond of $7 million-plus before it would pay Alan for his shares. The Two Lawsuits.

Appraisal 52

Appraisal Equity Fair Market Value Marketability 52

Musings on Markets

DECEMBER 10, 2021

With Steve Jobs, the picture of an innovative, risk-taking disruptor comes not just from books about the man, but from movies that gloss over his first, and rockier, stint as founder-CEO of Apple in the 1980s. The problem with the one-size-fits-all great CEO model is that it does not hold up to scrutiny.

Start-ups 83

Start-ups Marketability Technology Market Capitalization 83

Musings on Markets

SEPTEMBER 11, 2023

Apple created the iTunes Store in 2001, allowing customers to buy individual songs, rather than entire albums, and the unbundling of the music business began. Through this period, t he big studios still controlled a large share of the content business, but independent studies, often more daring in choice of topics and settings, took a share.

Start-ups 77

Start-ups Market Capitalization Marketability Technology 77

Reynolds Holding

JANUARY 22, 2024

3] As a result, issuers faced uncertainty in determining whether a sale of securities did not involve “any public offering” and in applying case law on the topic, including the Supreme Court’s decision in SEC v. This speech is the third in my initial trilogy of thoughts regarding topics in the CorpFin space. Ralston Purina Co. [4]

Start-ups 45

Start-ups Marketability Price to Earnings Finance 45

Musings on Markets

OCTOBER 6, 2023

A more tangible way to see why intangibles have become a hot topic of discussion is to look at the evolution of the top ten companies in the world, in market capitalization, over time: In 1980, IBM was the largest market cap company in the world, but eight of the top ten companies were oil or manufacturing companies.

Intangible Assets 104

Intangible Assets Book Value Equity Start-ups 104