Hints and tips:
...His response: I think the financial result would be very close to the same . . . if you want to join something that may have a tiny expectation of better [performance] than the S&P, I think we may be about...
...Traders are marking a riskier £250mn “class B” bond at little over 60 pence in the pound....
...Do I want to take, say, double B credit risk for another 1.9 per cent of yield on top of that, especially when high-yield default rates, while low, are rising?...
...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)....
...Companies in Wall Street’s benchmark S&P 500 index spent $175bn buying back shares in the three months to June, according to preliminary data from S&P....
...The P/B ratio measures the market value relative to its book value....
...For example: “In my view, [public markets aren’t] differentiating enough between office Reits that hold B-tier assets and office Reits that hold A-tier assets.”...
...They’re digital tokens backed either by a) dollar-denominated portfolios of safe assets; b) unaudited promises that they have safe assets; or c) magical confidence maths that only work until a death spiral...
...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....
...P-I-M-F-A. Claer Barrett Write this down, people. Moira O’Neill They show you what wealth managers in the City, what types of asset allocations they’re doing for their client....
...So money that did go into high yield went into higher quality, including double-B bonds....
...The downgrade from double B plus, S&P’s highest non-investment grade, to double B came after SoftBank’s tech-heavy Vision Funds this month posted record annual investment losses of $39bn....
...That compares with 0.2 per cent for the Stoxx 600 ex-UK and 0.7 per cent for the S&P 500. AJ Bell has revealed that cash accounts for 13.3 per cent of its retail customer assets....
...hilarious and B) he really was the right kind of rich person....
...As the TSE’s chief executive, Hiromi Yamaji, told Nikkei Asia earlier this year: “Instead of taking the rigid approach of saying those with P/B ratios below 1 have failed, it makes more sense to urge every...
...In my career, I’ve seen some instances where predictable things simply weren’t priced in....
...“It is year three and I haven’t had a distribution in funds that are fully baked [invested]. When am I going to get my capital back?”...
...“I am going to stay engaged in the business. I’m going to be joining the Chevron board and I intend on having my voice heard on the energy transition.”...
...Like the S&P 500, I can tell you within five seconds of googling if the market’s up, down or sideways, right? Private credit’s not like that....
...Felix manages $1.2bn of assets and has backed prominent start-ups including the food delivery service Deliveroo and oat drink company Oatly.It joins about 6,400 companies worldwide with B Corp certification...
...Take the recent stand-off between activist Yoshiaki Murakami and Cosmo Energy, the smallest of Japan’s three big energy firms (with a P/B of 0.7)....
...The first shows the share of stocks with a p/b below 1, in blue, and below 0.7, in orange....
...Canada is the world’s fourth-biggest oil producer, pumping 4.8mn b/d of oil last year, of which oil sands accounted for 3.2mn b/d....
...The resulting stock price surge lifted the company’s p/b sharply (with the caveat that measuring p/b is more art than science): Change is coming from on high, too....
...But then we get to the i-word. With our emphasis: B....
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