Book Review: Valuation
Valuation: Measuring and Managing the Value of Companies, 7th Edition. 2020. McKinsey & Company, Tim Koller, Marc Goedhart, and David Wessels. Wiley. What is “value”? This is a pressing question…
Valuation: Measuring and Managing the Value of Companies, 7th Edition. 2020. McKinsey & Company, Tim Koller, Marc Goedhart, and David Wessels. Wiley. What is “value”? This is a pressing question…
“Today’s investors need to understand geopolitical trends as a main driving force of markets.” — Joachim Klement, CFA Joachim Klement, CFA, has emerged over the last decade as one of…
Special-purpose acquisition companies (SPACs) have surpassed traditional initial public offerings (IPOs) in volume this year and some have hailed them as a new asset class that all investors should consider…
The following analysis is based on “Tax-Smart Portfolio Valuation and Performance Measurement,” Andrew Kalotay’s forthcoming article in the Journal of Portfolio Management, and Kalotay’s “Tax-Efficient Trading of Municipal Bonds,” from…
The GameStop story returned short-sellers to the front pages of the global financial press. The Reddit crowd’s “Main Street Takes Revenge on Wall Street” narrative cast these short sellers as…
Introduction London ranks ninth on the UBS Global Real Estate Bubble index for residential properties. Like in many other countries, property prices in the United Kingdom reached an all-time high…
This article is based in part on material drawn from “The Dawn of a New Active Equity Era” by C. Thomas Howard and Return of the Active Manager by C.…
“Nations, like individuals, cannot become desperate gamblers with impunity. Punishment is sure to overtake them sooner or later.” — Charles Mackay Special-purpose acquisition companies (SPACs) have gone viral. They accounted…
In developing a long-range investment strategy, investors conduct strategic asset allocation (SAA) work in pursuit of the portfolio that best balances risk and return. SAA relies on coherent forecasts —…
“The days of the internal combustion engine are numbered.” — Neal E. Boudette and Coral Davenport, The New York Times, 28 January 2021 What precipitated such a dramatic pronouncement? General…