Hints and tips:
...) big enough to make a meaningful impact on Berkshire’s earnings, (b) possible to reliably value, (c) have trustworthy and competent management, and (d) are available at a reasonable price....
...Anyway, back to the S&P report. They reckon that debt maturities of firms rated single-B or lower will be around $310bn in 2025, rising to $400bn in 2026....
...In contrast, the S&P 500’s price-to-book ratio is close to the record 5 times it touched in 2021 and 2000 (the Nasdaq’s P/B ratio is close to 7.5 times)....
...The S&P 489 has a weighted average P/E of 24, cheaper than the whole index, but not by much....
...S&P Global Ratings said in a report on Thursday that triple C borrowers would “contend with weak cash flow and elevated interest expenses this year”, while “defaults in 2024 [would] largely come from consumer-facing...
...Digging through the data of S&P Global offers surprising findings. Sub-Saharan African sovereigns rated in the B category between 2010 and 2023 defaulted in 22 per cent of all cases within five years....
...Looks like S&P Ratings doesn’t find “attestations” especially convincing, either....
...S&P this month downgraded Thames Water’s top-ranked class A debt to BBB-, the bottom rung of investment-grade, just one notch above junk....
...S&P rates EDF as BBB compared with AA for French government bonds....
...Credit rating agency S&P Global downgraded Ethiopia’s debt to default on December 15 after the initial deadline for payment was missed....
...We also lowered our local currency (LC) sovereign credit ratings on Cameroon to ‘CCC+/C’ from ‘B-/B’. The outlook on the LC long-term rating is stable....
...The S&P 500 is not yet quite as expensive as it was in the zero-rate, fiscal bonanza, everyone-has-loads-of-cash glory days of 2021. But it is getting closer....
...Likewise, S&P Global Mobility surveys suggest stable EV loyalty, measured as the share of EV owners whose next car was an EV, especially for Teslas....
...The S&P 500 is within a per cent or two of taking out the all-time high it set in late 2021. Most bond funds are likely to end the year with gains, too....
...What is the trailing P/E ratio of the top-10 stocks in the S&P 500 today? They are more overvalued than the top-10 were in the tech bubble....
...Eurozone business activity declined at a steeper rate than anticipated this month, according to the flash S&P Global composite purchasing managers’ index, dealing another blow to the region’s struggling...
...The perimeter of the financial junkyard is defined by a rating of BB+ from Fitch and S&P, and Ba1 from Moody’s....
...Markets do not snooze through Thanksgiving week, as Morningstar pointed out yesterday: for the S&P 500, the three-day holiday week has the average swing of plus or minus 1.5 per cent, about the same as a...
...Chart from S&P Global, through September: Part of the reason for this is that companies are making money....
...Monday The Bank of England hosts an online Q&A with its chief economist Huw Pill on the cost of living and current economic conditions EU, France, Germany, Japan: S&P Global October services purchasing...
...Grabinski calculates that on a trailing 12-month basis, S&P cost growth has outstripped revenue growth for the fourth month in a row....
...In the last quarter, Microsoft, Apple, Alphabet, Exxon and Chevron — massive cash spinners all — accounted for more than a quarter of all the buybacks in the S&P 500, according to data from S&P Dow Jones...
...The revision might be modest, but it marks the first time S&P, an authority on global output, has upped its production forecast in five years....
...First, using data provided by the great Howard Silverblatt of S&P Indices, here is a chart of the year-over-year change in dollars spent on buybacks by companies in the S&P 500 index, plotted against the...
...Rating agency S&P believes that the 12-month trailing loan default rate could rise to its long-term average of 2.5 per cent by next March, up from 1.42 per cent in April 2023....
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