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...The S&P BSE small-cap index is down 4.9 per cent month to date....
...About half of this money was through a convertible loan for the national newspaper, and half in a loan of similar size to the family from IMI relating to other parts of the Barclay family business empire...
...The investor group also includes private credit groups Ares Management and HPS, and L Catterton, a private equity group that invested in Equinox in 2017....
...Equinox, the popular luxury gym chain, has raised $1.8bn from a group of private capital investors to refinance more than $1bn in loans and give it financial breathing room....
...Its investors, however, may find the group’s latest proposition does not fit them so well....
...The KBW Nasdaq Fintech index is up 31 per cent over the past year, compared with a return of 25 per cent for the broader S&P 500....
...It’s a catchy name that looks good in headlines and investor presentations, and it’s backed up by the kind of gains that make European investors sick with envy (even if we’re all supposed to be worried about...
...Looking at a 20-year chart of the price/earnings valuations of the S&P 500 and its small cap sibling the S&P 600, it seems possible that this is what has happened to small stocks: Small caps (dark blue...
...The domestic stock market index, the ASE, is up almost 40 per cent over the past year, outperforming the S&P 500....
...Since 1990, missing the 30 best days of the S&P 500 cuts your compound returns in half....
...Valley National Bancorp is also trading at wide spreads, but for a reason, as it’s “very heavily concentrated in CRE”....
...(The quality measurement uses ratings from firms like Fitch, Moody’s and S&P, which surely could never go wrong.)...
...Global demand for plastics, which makes up 50 per cent of petrochemical demand, is expected to nearly double by mid-century, according to S&P Global Commodity Insights....
...The Granolas’ share of the Stoxx Europe 600 index has climbed to 25 per cent, approaching the Magnificent Seven’s 28 per cent weighting in the S&P 500....
...Free cash flow, however, reconciles those book accounting accruals of the P&L ledger to capture the real flows of actual dollars coming in and out....
...Americans have run through their savings and are falling behind on their loans....
...S&P rates EDF as BBB compared with AA for French government bonds....
...“It holds a lot of weight when we calculate loan-to-value, or our measure of leverage,” said Jennifer Panger, the lead S&P analyst covering Icahn Enterprises....
...Today, new private credit structures are giving investors access to assets previously confined to banks’ balance sheets such as equipment finance....
...High multiples on which they trade have pushed the broader S&P 500 Shiller price-to-earnings ratio, aka the cyclically adjusted p/e ratio (CAPE), up from less than 30 times in late 2022 to 34 times....
...Retail investors can buy bank loan ETFs on the open market....
...After over-optimistically betting on six quarter-point cuts, investors dived into equities and other riskier assets. The S&P 500 rose about 15 per cent in the four months to April....
...As Bolgona puts it: From a high level, relative to electing to account for loans at amortised cost, electing the fair value option provides a P&L tailwind during periods of loan growth due to recognising...
...Rinehart already holds a 10 per cent stake in Arafura Rare Earths, a project in Australia’s Northern Territory that the government backed last month with A$840mn (US$540mn) of loans and grants....
...The 19.33 per cent of Telecom Italia’s shares on loan as of Wednesday is the highest proportion in data going back to 2005....
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