Pricing and Value

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 from markets, at a pricing…

jamur September 19, 2023

Equity Risk Premiums Fund flows Pricing and Value

Risk Capital and Markets: A Temporary Retreat or Long Term Pull Back?

As inflation has taken center stage, markets have gone into retreat globally, and across asset classes. In 2022, as bond rates have risen, stock prices have fallen, and crypto has…

jamur July 1, 2022

Acquisitions Corporate Governance Pricing and Value

Elon's Twitter Play: Valuation and Corporate Governance Consequences

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…

jamur April 21, 2022

Crypto Currencies Pricing and Value

Data Update 3 for 2021: Currencies, Commodities, Collectibles and Cryptos

In my last post, I described the wild ride that the price of risk took in 2020, with equity risk premiums and default spreads initially sky rocketing, as the virus…

jamur January 28, 2021

Pricing and Value Shareholder Value

Illusion, Perception and Reality: Stock Splits and Index Inclusions

After big market movements, we are eager to look for explanations, fundamental reasons why a stock or stocks collectively moved on that day, but the reality is that a great…

jamur September 1, 2020

Equity Risk Premiums Market Crisis Pricing and Value

A Viral Market Update VII: Mayhem with Multiples

I get a sense that I am approaching the end of this series of weekly posts, or perhaps I am just hoping that it is true, as the COVID crisis…

jamur April 24, 2020

Pricing and Value Tesla Valuing Young companies

An Ode to Luck: Revisiting my Tesla Valuation

When investing, I am often my own biggest adversary, handicapped by the preconceptions and priors that I bring into analysis and decision making, and no company epitomizes the dangers of…

jamur January 30, 2020

IPO Pricing and Value Valuing Young companies

IPO Lessons for Public Market Investors

This year, I have found myself returning repeatedly to the IPO well, as high profile companies have chosen to go public, and like a moth to a flame, I have…

jamur October 11, 2019