ISA

APRIL 19, 2024

One question you should ask yourself is “am I properly insured if something catastrophic happens?” ” Insurance companies often require an appraisal before providing coverage for fine art and jewelry. 4/19/2024 12:00:00 AM Spring is a time for renewal and rebirth.

Appraisal 52

Appraisal Marketability 52

Musings on Markets

JANUARY 28, 2024

In my last data updates for this year, I looked first at how equity markets rebounded in 2023 , driven by a stronger-than-expected economy and inflation coming down, and then at how interest rates mirrored this rebound. What is risk?

Risk Premium 93

Risk Premium Beta Start-ups Equity 93

Biz Equity

FEBRUARY 2, 2023

That’s what research from Microsoft estimates we receive from companies and brands vying for our attention every 24 hours. In it, we outline the process for understanding exactly who your clients are, what they care most about, and how you should think about engaging them.) Lead with the “why,” not the “what.”

Business Valuation 98

Business Valuation Marketability 98

Biz Equity

JANUARY 27, 2023

Lani’s clients have businesses in a variety of industries, including banks, payroll companies, and marketing firms. Her clients tend to come to her with the intention of selling and are often not sure what the value of their business is. Recently, Lani had a case with a construction company looking to sell its business.

Banking 52

Banking Marketability 52

Viking Mergers

DECEMBER 5, 2022

During his tenure, the company saw an exponential growth in revenue and penetration into new market segments. In his words, “I consider myself a small business generalist” – a fact that serves his clients well. That’s my favorite part – lots of problem solving.” Eric later moved on to an outdoor gear retailer and manufacturer.

Start-ups 130

Start-ups Finance Business Valuation Marketability 130

Viking Mergers

MAY 5, 2022

Every day, countless business owners and entrepreneurs ask themselves, “When should I sell my business?” The decision to sell a business is not often an easy one, but there are many reasons an owner might do it. In this article, we’ll take a look at seven common reasons to sell your business. New Interest.

Start-ups 130

Start-ups Business Valuation Marketability 130

Musings on Markets

NOVEMBER 9, 2021

I have been writing about, and valuing, Tesla for most of its lifetime in public markets, and while it remains a company that draws strong reactions, it is also one that I truly enjoy valuing. Tesla: The Back Story I first valued Tesla in 2013 , as a "luxury automobile company" and I have valued almost every year since.

Start-ups 99

Start-ups Dividends Marketability Market Capitalization 99

Musings on Markets

JANUARY 8, 2022

Happy New Year, and I hope that 2022 brings you good tidings! To start the year, I returned to a ritual that I have practiced for thirty years, and that is to take a look at not just market changes over the last year, but also to get measures of the financial standing and practices of companies around the world.

Risk Premium 91

Risk Premium Start-ups Market Capitalization Corporate Finance 91

ThomsonReuters

DECEMBER 17, 2020

With the recent rash of public company fraud issues that were missed both internally and by external auditors, there has been a lot of negative news coverage for the accounting industry. In this episode of Pulse of Practice “Should a Small Firm Care?”, How public company fraud affects the small CPA firm.

Accounting Firms 95

Accounting Firms 95

Sun Acquisitions

NOVEMBER 7, 2022

Perhaps you’ve asked, “Can I sell my business if I got a PPP loan?”. In this post, we explore what those terms are and how you can satisfy each one to sell your company. As can be imagined, selling a business encumbered by a government loan requires you to tread cautiously.

Business Valuation 98

Business Valuation 98

Musings on Markets

OCTOBER 4, 2023

In the first half of the year, we had positive surprises on both fronts, as inflation dropped after than expected and the economy stayed resilient, allowing for a comeback on stocks, which I wrote about in a post in July 2023. Seven companies (NVIDIA, Apple, Microsoft, Alphabet, Meta, Amazon and Tesla) account for $3.7

Marketability 104

Marketability Start-ups Risk Premium Treasury 104

Reynolds Holding

MARCH 31, 2024

In a recent paper , I argue that dual-class shares, which enable control with less than half of a company’s equity, allow institutional investors to commit to financing low-carbon innovation. Moreover, CO2 targets should be reliable and include measurable upstream and downstream (so-called Scope 3 ) emissions.

Equity 121

Equity Finance Technology Marketability 121

Musings on Markets

APRIL 21, 2022

I am not a prolific user of social media platforms, completely inactive on Facebook and a casual lurker on LinkedIn, but I do use Twitter occasionally, and have done so for a long time, with my first tweet in April 2009, making me ancient by Twitter standards. My forecasted revenues for 2023 of $11.2

Start-ups 99

Start-ups Marketability Technology Market Capitalization 99

Musings on Markets

FEBRUARY 11, 2023

I describe myself as a dabbler, and it does get in the way of my best laid plans. 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.

Risk Premium 76

Risk Premium Start-ups Equity Marketability 76

Musings on Markets

NOVEMBER 15, 2022

In my first two posts on Facebook, I noted that its most recent earnings report, and the market reaction to it, offers an opportunity for us to talk about bigger issues. Facebook, I argued, is a corporate autocracy, with Mark Zuckerberg at its helm.

Start-ups 90

Start-ups Marketability Market Capitalization Technology 90

Musings on Markets

SEPTEMBER 14, 2021

Last year, I wrote a post on ESG and explained why I was skeptical about the claims made by advocates about the benefits it would bring to companies, investors and society. Goodness is in the eyes of the beholder, and what you perceive to be a grevious corporate sin may not even register on my list, as a problem.

Start-ups 99

Start-ups Marketability Firm Value 99

Value Scope

APRIL 9, 2021

Margaret Wolfe Hungerford (née Hamilton), who authored many books, often under the pseudonym of ‘The Duchess’ When I think about value, I (like most in my profession) think first about fair market value (“FMV”). And what is the value of the pleasure I derive from the car, the drive, the fun, and its aesthetic beauty?

Fair Market Value 130

Fair Market Value Marketability Finance Intangible Assets 130

Value Scope

APRIL 9, 2021

Margaret Wolfe Hungerford (née Hamilton), who authored many books, often under the pseudonym of ‘The Duchess’ When I think about value, I (like most in my profession) think first about fair market value (“FMV”). And what is the value of the pleasure I derive from the car, the drive, the fun, and its aesthetic beauty?

Fair Market Value 130

Fair Market Value Marketability Finance Intangible Assets 130

Audit Board

JULY 28, 2022

Why empathy — even with those who have committed fraud — is a crucial skill that makes for better auditors. I still remember those events like they were yesterday. Cynthia Cooper: I remember that. I so very, very much appreciate the support that you guys gave my team and me during that very difficult time.

Start-ups 98

Start-ups 98

IBG Business

MARCH 15, 2022

A personal exit plan can help you avoid the trap of selling your business before knowing what you will do next. Selling his rock quarry was the farthest thing from Norm’s mind. I’ve got a company that wants to buy your quarry,” the broker said. My blood pressure’s a little high. My son wants to be a sportswriter.

Start-ups 52

Start-ups Marketability 52

Equilest

OCTOBER 12, 2023

Dive deeper into the world of business valuation and find out how understanding your company's worth can impact your future. Whether you dream of selling your business, passing it down to the next generation, or taking it public, having a well-defined exit strategy is essential. FAQ 2: Can I perform a business valuation on my own?

Business Valuation 40

Business Valuation Intangible Assets Asset-based Approach Marketability 40

Musings on Markets

AUGUST 25, 2023

I have always loved sports, playing tennis and cricket when I was growing up, before transitioning to fan status, cheering for my favored teams from the sidelines. I also like finance, perhaps not as much as sports, but there are winners and losers in the investment game as well. billion in 2012 to $132.5 billion in 2022.

Start-ups 92

Start-ups Dividends Marketability Finance 92

Musings on Markets

FEBRUARY 12, 2022

In this post, I will be valuing each of these companies, both to assess whether to invest in them individually, and to examine whether there are lessons for the market in their price entrails. trillion, and their share of the overall equity value of all US stocks also surged from 6.5% to 14.9%.

Market Capitalization 98

Market Capitalization Equity Marketability Start-ups 98

IBG Business

JULY 5, 2023

However, as most M&A brokers and experienced sellers know, the great majority of business sales involve some form of seller financing, with the higher the selling price the greater the likelihood of a seller carryback. They want to invest some of their liquidity into expanding and improving the business that you are selling to them.

Finance 52

Finance Start-ups Banking Marketability 52

Equidam

NOVEMBER 21, 2022

The journey usually starts with you, the founder or the CEO, realizing that your company has a cash need. Alternatively, you get approached by an investor following a demo day or pitch contest, and the investor is excited about the company and makes you an offer. Whenever we talk about the valuation of a company, this is what we mean.

Start-ups 56

Start-ups Marketability Alpha Finance 56

Musings on Markets

OCTOBER 12, 2023

I have made no secret of my disdain for ESG, an over-hyped and over-sold acronym , that has been a gravy train for a whole host of players , including fund managers, consultants and academics. That is the question that I hope to address in this post. In the course of the post, I will work with two presumptions.

Market Capitalization 82

Market Capitalization Enterprise Value Start-ups Marketability 82

Musings on Markets

AUGUST 2, 2021

Just over a week ago, I valued Zomato ahead of its market debut, and as with almost every valuation that I do on this forum, I heard from many of you. In this post, rather than impose my story (and value) on you, I offer a template for telling your own story about Zomato, and arriving at your own estimate of value.

Marketability 52

Marketability Start-ups Technology Market Risk 52

Equilest

NOVEMBER 6, 2022

Recently I came across this Linkedin Post following reference: "I own a blog worth $59,417-$72,634. Here's how and why it's valued at that price. . My blog currently: . - $1,872/mo profit (last 12-month average). I start here, then adjust based on the above factors. . Tamir Levy, Ph.D., Middle: $65,620 (x35).

Business Valuation 75

Business Valuation Finance Appraisal 75

Musings on Markets

JANUARY 12, 2021

As we approach the turn of the calendar year, I have my own set of rituals that prepare me for the new year. Last week, was my data week, where I download and analyze data on all publicly traded companies, listed anywhere in the world, and I will post extensively on what the numbers look like after a most tumultuous year.

Corporate Finance 52

Corporate Finance Start-ups Finance Marketability 52

Internal Audit 360

AUGUST 17, 2023

GUEST BLOG POST W ith the rise of artificial intelligence and ChatGPT, sometimes I think that we internal auditors will all soon be out of a job. But then I have a very boring task to do, and I wonder why I can’t just ask a machine to do it! But, for an intelligent machine, it should be easy, right?

Technology 69

Technology Start-ups Marketability 69

Musings on Markets

NOVEMBER 10, 2022

In my last post, I used Facebook's recent troubles to talk about the importance of corporate governance, and how we, as investors, have abandoned the power to change management at many younger tech companies in return for being able to invest in young tech companies, with growth potential and well-regarded founders.

Finance 74

Finance Start-ups Equity Equity Financing 74

Musings on Markets

MAY 7, 2023

I also used the banking framework to argue that good banks have stickier deposits, with a higher precent of these deposits being non-interest bearing, that they invest in loans and investment securities on which they earn interest rates that cover and exceed the default risk in these investments.

Banking 63

Banking Price to Book Dividends Book Value 63

Brian DeChesare

OCTOBER 18, 2023

Should you accept a capital markets offer at a larger bank over an M&A or industry group offer at a smaller bank? If you’ve won a capital markets offer, should you delay accepting it so you can target “better” groups? To illustrate, let’s say that a $1 billion public company sells itself in a sell-side M&A process.

Banking 59

Banking Marketability Start-ups Equity 59

Musings on Markets

DECEMBER 10, 2021

In the process, I will also look at the thorny issue of what happens when there is a mismatch between a company and its CEO, either because the board picks the wrong candidate for the job or because the company has changed over time, and the CEO has not.

Start-ups 83

Start-ups Marketability Technology Market Capitalization 83

Equilest

MARCH 16, 2024

If you're looking to buy or sell a small business, understanding the intricacies of valuation is crucial. Outline of the Article Introduction to Small Business Valuation Understanding the Importance of Valuing a Small Business Why is it crucial? Can I value a small business on my own without professional help?

Intangible Assets 40

Intangible Assets Business Valuation Discounted Cash Flow Earnings Multiplier 40

Musings on Markets

JANUARY 29, 2021

I generally try to stay out of fights, especially when they become mud-wrestling contests, but the battle between the hedge funds and Reddit investors just too juicy to ignore. but in the process, driven some of the hedge funds that have sold short on these companies to edge of oblivion.

Start-ups 52

Start-ups Marketability Banking Finance 52

Equidam

AUGUST 11, 2022

How can you forecast the square meters of office your company is going to need? Have I been too conservative? This article is going to focus on a technical aspect of financial projections, how far in the future should you forecast? How long should we forecast then? Am I adding information to the future potential.

Start-ups 84

Start-ups Banking Marketability 84