Markets can sometimes rise even when economic growth looks mediocre. At other times, great companies fall together despite little change in their underlying businesses. The
Everyone knows the market can become overly optimistic or excessively fearful. The harder question is figuring out when sentiment has actually reached an extreme. Headlines
Markets rarely move because of one variable. Stocks can rise even when economic growth is slowing. Bonds can fall during a recession scare if inflation
Stock markets can look perfectly calm right before the economic environment starts changing. Company earnings may still be growing, unemployment can remain low, and major
A company can report growing revenue, rising earnings, and impressive margins while still doing a mediocre job with shareholders’ capital. That sounds strange until you
Traditional discounted cash flow valuation starts with forecasts and ends with an estimated share price. Reverse DCF turns that process around. Instead of asking, “What
