http://aswathdamodaran.blogspot.com/feeds/posts/default
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Catastrophic Risk: Investing and Business Implications
In 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) Valuation
Can 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 Crisis
In 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 Flows
This 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...