http://aswathdamodaran.blogspot.com/feeds/posts/default
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Catastrophic Risk: Investing and Business ImplicationsIn the context of valuing companies, and sharing those valuations, I do get suggestions from readers on companies that I should...
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The Seven Samurai: How Big Tech Rescued the Market in 2023!I was planning to finish my last two data updates for 2024, but decided to take a break and look at the seven stocks (Apple, Amazon, Alphabet,...
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Data Update 5 for 2024: Profitability - The End Game for Business?In my last three posts, I looked at the macro (equity risk premiums, default spreads, risk free rates) and micro (company risk measures) that feed...
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Data Update 4 for 2024: Danger and Opportunity - Bringing Risk into the Equation!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...
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Data Update 3 for 2024: Interest Rates in 2023 - A Rule-breaking Year!In my last post, I looked at equities in 2023, and argued that while they did well during 2023, the bounce back were uneven, with a few big...
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Data Update 2 for 2024: A Stock Comeback - Winning the Expectations Game!Heading into 2023, US equities looked like they were heading into a sea of troubles, with inflation out of control and a recession on the horizon....
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The School Bell Rings: Time for Class!Continuing an annual ritual of long standing, ahead of starting my spring teaching at NYU starting in a couple of weeks, I would like to invite...
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Data Update 1 for 2024: The data speaks, but what does it say?In January 1993, I was valuing a retail company, and I found myself wondering what a reasonable margin was for a firm...
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The Difference Makers: Key Person(s) ValuationCan one person make a difference to the value of a business? Of course, and with small businesses, especially those built...
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Tesla in November 2023 : Story twists and turns, with value consequences!I was planning to start this post by telling you that Tesla was back in the news, but that would be misleading, since Tesla never leaves the news....
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Good Intentions, Perverse Outcomes: The Impact of Impact Investing!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...
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Invisible, yet Invaluable: Valuing Intangibles in the Birkenstock IPO!A few days ago, I valued Instacart ahead of its initial public offering , and noted that the reception that the stock gets will be a good...
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Market Bipolarity: Exuberance versus Exhaustion!As we enter the last quarter of 2023, it has been a roller coaster of a year. We started the year with significant uncertainty about whether the...
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Putting the (Insta)cart before the (Grocery) horse: A COVID Favorite's Reality Check!After years of rumors of an imminent IPO, Instacart has finally filed for a public offering of it’s shares, aspiring to raise about $600 million...
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A Business Upended: Streaming disrupts the Entertainment Business!It has been an unsettling summer for anyone with a stake in the movie, television and broadcasting businesses. The strike by screen actors...
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Toys for Billionaires: Sports Franchises as Trophy Assets!I have always loved sports, playing tennis and cricket when I was growing up, before transitioning to fan status, cheering for my favored teams...
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In Search of Safe Havens: The Trust Deficit and Risk-free Investments!In every introductory finance class, you begin with the notion of a risk-free investment, and the rate on that investment becomes the base on...
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The Price of Risk: With Equity Risk Premiums, Caveat Emptor!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...
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Country Risk: A July 2023 Update!I have looked at country risk, in all its dimensions, towards the middle of each year, for the last decade, for many reasons. One is curiosity ,...
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Market Resilience or Investors In Denial? A Mid-year Assessment for 2023!I am not a market prognosticator for a simple reason. I am just not good at it, and the first six months of 2023 illustrate why market timing is...
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AI's Winners, Losers and Wannabes: An NVIDIA Valuation, with the AI Boost!I will start this post with a couple of confessions. The first is that my portfolio has held up well this year, in a market that has been...
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Good (Bad) Banks and Good (Bad) Investments: At the right price...In my last post, I looked at banking as a business, and used a simple banking framework to advance the notion that the key ingredient tying...
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Breach of Trust: Decoding the Banking CrisisIn March 2023, the fall of Silicon Valley Bank shocked investors not only because it was unforeseen, but also because of the speed with which it...
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Data Update 7 for 2023: Dividends, Buybacks and Cash FlowsThis is the last of my data update posts for 2023, and in this one, I will focus on dividends and buybacks, perhaps the most most misunderstood...
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Data Update 6 for 2023: A Wake up call for the Indebted?We have an uneasy relationship with debt, both in our personal and business lives. While it is a financial decision, it is one that is freighted...
