Musings on Markets
The Anthropic Prospectus Arrives: My (but not the) IPO valuation!
From Eyeballs to Annual Run Rates (ARR): Buzzy Pricing Metrics and the Anthropic Trade!
Stock Prices, Earnings and Cashflows: The AI Effect plays through!
Interest Rates and Stock Prices: An Old Debate Flares up!
The Scaling and Profitability Trade off: Venture Capital's Weakest Link!
AI"s Bar Mitzvah Moment: From Hype & Hope to Business Questions!
The Situational Awareness Blow-up: The Collateral Damage from Investing Conviction!
Information Timing and Release: The Gaming of Guidance!
Country Risk: Drivers, Measures and Investment Implications - The 2026 Edition!
SpaceX, OpenAI and Anthropic: The S&P 500 Inclusion Question and Investment Consequences!
Revisiting the SpaceX Valuation: A Post-Prospectus Update!
An Ode to Restraint: Lessons from the Tim Cook Legacy
To a Trillion(s) Dollars and beyond: A SpaceX IPO Odyssey!
Oil, War and the Global Economy: The Market's Narrative in March 2026
Finding your investing lodestar: In Search of an Investment Philosophy
The Price of Risk: An Equity Risk Premium Monologue!
AI Scenarios: From Doomsday Destruction to Do-Nothing Bots!
Data Update 8 for 2026: Time for Harvesting - Dividends and Buybacks
Data Update 7 for 2026: Debt and Taxes
Data Update 6 for 2026: In Search of Profitability!
Data Update 5 for 2026: Risk and Hurdle Rates
Data Update 4 for 2026: The Global Perspective!
Data Update 3 for 2026: The Trust Deficit - Bonds, Currencies, Gold and Bitcoin!
Data Update 2 for 2026: Equities get tested, and pass again!
Data Update 1 for 2026: The Push and Pull of Data!
Trillion Dollar Market Caps: Fairy Tale Pricing or Business Marvels?
A Golden Year (2025): Gold's Price Surge - The Signal in the Noise!
A “Fairly Highly Valued” Market: A Fed Chair Opines on Stocks, but should we listen?
The Imitation Game: Defending against AI's Dark Side!
Country Risk 2025: The Story behind the Numbers!
To Bitcoin or not to Bitcoin? A Corporate Cash Question!
The (Uncertain) Payoff from Alternative Investments: Many a slip between the cup and the lip?
Sovereign Ratings, Default Risk and Markets: The Moody's Downgrade Aftermath!
The Greed & Fear Tango: The Markets in April 2025!
Buy the Dip: The Draw and Dangers of Contrarian Investing!
Anatomy of a Market Crisis: Tariffs, Markets and the Economy!
Investing Politics: Globalization Backlash and Government Disruption!
Data Update 9 for 2025: Dividends and Buybacks - Inertia and Me-tooism!
Data Update 8 for 2025: Debt, Taxes and Default - An Unholy Trifecta!
Return on Equity, Earnings Yield and Market Efficiency: Back to Basics!
Data Update 7 for 2025: The End Game in Business!
Data Update 6 for 2025: From Macro to Micro - The Hurdle Rate Question!
Data Update 5 for 2025: It's a small world, after all!
DeepSeek crashes the AI Party: Story Break, Change or Shift?
Data Update 4 for 2025: Interest Rates, Inflation and Central Banks!
Data Update 3 for 2025: The times they are a'changin'!
Data Update 2 for 2025: The Party Continued (for US Equities)
Data Update 1 for 2025: The Draw (and Danger) of Data
For the fun of it: An Open House for my Spring 2025 Classes
The Siren Song of Sustainability: The Theocratic Trifecta's Third Leg!
The Wisdom and Madness of Crowds: Market Prices as Political Predictors!
The Sugar Daddy Effect? Assessing Corporate venture capital, Sovereign funds and Green Energy!
Breaking up Big Tech: Cui Bono?