Thanks for taking the time to write this in the midst of all that's going on for you. Excited for the arrival for your granddaughter; all the best wishes for a safe delivery!
Sir you said Bitcoin and gold are collectable , but in your spring valuation you gave us proof that Bitcoin is not a collectables as anyone can mine by staying in Russia, could you please correct me?
Fascinating! I’m Harrison, an ex fine dining industry line cook. My stack "The Secret Ingredient" adapts hit restaurant recipes (mostly NYC and L.A.) for easy home cooking.
Great stuff as always, Professor. Question: If a country is headed towards default, isn't the risk on the companies in that country going up as well? (E.g. risk of higher taxation, higher borrowing costs because country-wide demand for debt has gone up, ...). Therefore, wouldn't it make sense to use that higher discount rate when valuing companies? You say the opposite: remove the default risk from that discounting rate. Would love to hear why my thinking is wrong.
Or is your thinking to account for that increased risk in the equity risk premium?
Thanks for taking the time to write this in the midst of all that's going on for you. Excited for the arrival for your granddaughter; all the best wishes for a safe delivery!
Thank you, appreciate it!
Another excellent and timely article by one of the most prolific writers among finance professionals.
Enjoyed the read . Thank you.
Wishing you and your family great joy from the new arrival from the next generation!
Federal Reserve and the Great American Gold Heist:
https://kingcambo812.substack.com/p/fear-and-loathing-at-the-federal
Sir you said Bitcoin and gold are collectable , but in your spring valuation you gave us proof that Bitcoin is not a collectables as anyone can mine by staying in Russia, could you please correct me?
Fascinating! I’m Harrison, an ex fine dining industry line cook. My stack "The Secret Ingredient" adapts hit restaurant recipes (mostly NYC and L.A.) for easy home cooking.
check us out:
https://thesecretingredient.substack.com
Great stuff as always, Professor. Question: If a country is headed towards default, isn't the risk on the companies in that country going up as well? (E.g. risk of higher taxation, higher borrowing costs because country-wide demand for debt has gone up, ...). Therefore, wouldn't it make sense to use that higher discount rate when valuing companies? You say the opposite: remove the default risk from that discounting rate. Would love to hear why my thinking is wrong.
Or is your thinking to account for that increased risk in the equity risk premium?