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...Berkshire and the S&P 500 If your entire equity portfolio had to be in either the S&P 500 or Berkshire Hathaway, which would be the better choice?...
...This is roughly comparable to average default rates observed in companies that receive a B credit rating from S&P (3.4 per cent) and a B3 from Moody’s (4 per cent)....
...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)....
...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....
...If you have any exposure to the S&P 500, then the S&P 500, the biggest index on the planet, is dominated by these names. Claer Barrett Even global indices. Katie Martin Even the global indices....
...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.”...
...These have picked up markedly in recent years, from a low of about 400,000 b/d in the pandemic year of 2020 to about 1.4mn b/d recently, according to Richard Bronze at Energy Aspects....
...However, S&P warned that SoftBank’s “loan-to-value (LTV) ratio will likely remain at the current level or slightly worsen”, arguing that its “investment gains and losses will likely remain potentially volatile...
...We’ve divided the issuers up by their primary exchange and overlaid short-interest data from S&P Global, accurate to February 23....
...The writer is chief economist at German bank LBBW and former chief ratings officer at S&P A debt crisis is ravaging what has been dubbed the “global south”....
...Looks like S&P Ratings doesn’t find “attestations” especially convincing, either....
...By dropping the ESG ratings now, maybe S&P is saying “the ratings really are not that useful,” said David F. Larcker, a professor at Stanford’s graduate school of business....
...“Shale has redrawn the map of world oil in a way most people don’t seem to understand,” said Daniel Yergin, vice-chair of S&P Global and a Pulitzer Prize-winning energy historian....
...“The oil market is waiting,” said Daniel Yergin, author and vice-chair of S&P Global....
...He has made it his mission to significantly reduce the proportion of companies with languishing P/B ratios, to bring the TSE to levels closer to those in the US (5 per cent of S&P 500 companies) and Europe...
...Of the 447 universities with a credit rating from S&P Global Ratings, more than a third are rated triple B plus or below....
...Ticker symbols have taken on an outsized importance in the exchange traded fund world, where pursuit of the kind of name recognition enjoyed by funds such as SPY, the SPDR S&P 500 ETF, has become the holy...
...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...
...S&P puts the group’s risk-adjusted capital ratio at about 12 per cent, less than most banks core capital....
...Also, S&P Global November PMI data for manufacturing and services UK: GfK Consumer Confidence Survey US: S&P Global November PMI data for manufacturing and services....
...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....
...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 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....
...His Berkshire Hathaway B class shares, at $420, offer a relatively cheaper entry....
...From S&P’s definitions: A short-term obligation rated ‘D’ is in default or in breach of an imputed promise....
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