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...Meanwhile, the minimum award for injured feelings has just gone up to £1,200 — not a bad return for what are, in some cases, minor slights that might once have been brushed off....
...Political will for public R&D investment has materialised....
...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 Mag 7 re-invests 60% of their cash flow from operations through growth capex and R&D. This reinvestment rate is more than double the 26% of the Tech Bubble 5 and about 3x that of the S&P 493....
...This sounds to us like a stretch, and consumers who can’t afford the new mortgage rate or a car loan payment are not deciding based on theoretical changes in r-star....
...Back in May, when the staples sell-off began, yields for S&P 500 staples were about 2.5 per cent on average, only a bit better than the wider market....
...The earthquake isn’t the only shock I’ve had lately. Last week I had lunch with a longtime source who works at a production equipment maker....
...Ions looks like “Martin Gilbert minor,” argues Lex....
...But as time has gone on, a minor industry of academic detractors has emerged to argue that MBAs are generally less useful than their hefty price tags suggest, and might even be a cause for concern....
...Companies can file for bankruptcy wherever they have even a minor subsidiary, attaching the entire company to that single filing....
.../ From E R Yescombe, YCL Consulting, London N10, UK...
...Bonds rallied; the two-year yield collapsed 21 basis points and the 10-year yield wasn’t far behind at 19bp. The S&P 500 rose 2 per cent and the rate-sensitive small-cap Russell 2000 popped 5 per cent....
...This means that the S&P 500 relies to an even greater extent on hope rather than fundamentals....
...Global construction PMI data Results: Alfa-Laval Q4, Amgen Q4, BP Q4, Eli Lilly Q4, Ford Q4, H&R Block Q2, Gartner Q4, Infineon Technologies Q1, Linde Q4, Mitsubishi Q3, Nintendo Q3, Omnicom Q4, Prudential...
...The MSCI China index is set to finish the year down more than 17 per cent, compared to a rise of more than 24 per cent for the S&P 500 in the US....
...Other investors shouldn’t copy him, the FT’s Lex writes....
...Pre-salt production rose from 41,000 b/d in 2010 to 2.3mn last year, fuelling record annual profits of R$188bn (US$39bn) and dividends of R$216bn at the company....
...Achieving a higher equilibrium rate, the infamous ‘R-star’, would require stronger productivity growth or inflation than seem plausible in Japan....
...Personally I don’t believe expenses such as R&D should be treated as investments. Most are stay-in-business costs, often wasted, and for the market as a whole a zero-sum game....
...“This is the Lula government’s duty — to see the mistakes of the past and guarantee it doesn’t happen again.”...
...Could well be, though it would mean the popular Shiller p/e ratio, which is very high now, has misfired....
...They are probabilistic bets on successful R&D: most of the time your investment goes to zero, but occasionally you’ll get a massive outsized return....
...Its forward P/E is just 15. We’re still searching for good stock picks. If you’ve got a candidate, email us: robert.armstrong@ft.com and ethan.wu@ft.com....
...“The Chinese can’t get out of China right now because there’s no flight capacity . . . so the international market hasn’t healed there yet,” said Bill Heinecke, chief of Thai-headquartered hotel group Minor...
...The current top 15 to 20 gainers over the past 12 months in a wider benchmark of larger and smaller companies, the S&P BSE 500 index, “have historically delivered, in the past 10 years, returns which have...
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