Reaping the Whirlwind: A September 2022 Inflation Update!
In my early 2021 posts on inflation, I argued that while the higher inflation that we were just starting to see could be explained by...
A Zomato 2022 Update: Value, Pricing and the Gap
On July 21, 2021, I valued Zomato just ahead of its initial public offering at about ₹41 per share. The market clearly had a very different...
Country Risk: A 2022 Mid-year Update!
It has been my practice for the last two decades to take a detailed look at how risk varies across countries, once at the start...
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...
A Follow up on Inflation: The Disparate Effects on Company Values!
In my last post, I discussed how inflation's return has changed the calculus for investors, looking at how inflation affects returns on different asset classes,...
In Search of a Steady State: Inflation, Interest Rates and Value
The nature of markets is that they are never quite settled, as investors recalibrate expectations constantly and reset prices. In most time periods, those recalibrations...
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...
ESG’s Russia Test: Trial by Fire or Crash and Burn?
My views on ESG are not a secret. I believe that ESG is, at its core, a feel-good scam that is enriching consultants, measurement services...
Russia in Ukraine: Let Loose the Dogs of War!
As the world's attention is focused on the war in the Ukraine, it is the human toll, in death and injury, that should get our...