tag:blogger.com,1999:blog-8152901575140311047.post2845817153250930843..comments2024-03-18T10:18:19.736-04:00Comments on Musings on Markets: Earnings surprises, price reaction and valueAswath Damodaranhttp://www.blogger.com/profile/12021594649672906878noreply@blogger.comBlogger26125tag:blogger.com,1999:blog-8152901575140311047.post-6156123694763810642014-07-29T08:39:55.687-04:002014-07-29T08:39:55.687-04:00This comment has been removed by the author.Anonymoushttps://www.blogger.com/profile/13174771508980480045noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-62820517877724014682014-02-26T10:39:34.189-05:002014-02-26T10:39:34.189-05:00This is a fantastic website, could you be interest...This is a fantastic website, could you be interested in going through an interview concerning just how you made it? You can visit my site. <a href="//www.eventstudytools.com/news-analytics" rel="nofollow"> Stock market response analysis</a>Anonymoushttps://www.blogger.com/profile/09787522387742855729noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-41939241089787480742013-05-30T22:46:15.212-04:002013-05-30T22:46:15.212-04:00Announcement plays a vital role in the world of in...Announcement plays a vital role in the world of industry. It makes your costumers intact and updated. Every company has to see to it that they give a direct to the point announcement presented in a clear manner. I just want clarification about this reporting ritual. This has to be highly scripted? What do you mean by this?Sunshine Coast Bookkeeping Serviceshttp://www.darcyservices.com.au/noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-33855008830917501312013-01-29T21:38:46.727-05:002013-01-29T21:38:46.727-05:00Fascinating topic that goes so far back to my days...Fascinating topic that goes so far back to my days at I/B/E/S in the early/mid 1980s....which was still AFTER all of the classic academic papers by Stan Chamberlin and Eugene Hawkins were published. Information moves SO much more quickly these days. The surprise effect (which was, by the way, also a major input to the original Value Line ranking system devised in the early 1960s by my other co-worker, the legendary Sam Eisenstadt) took MUCH longer to work its way fully into the market.TraderJayhttps://www.blogger.com/profile/16962741490921548331noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-80050434011079204592013-01-04T14:50:58.556-05:002013-01-04T14:50:58.556-05:00What a riot! AND, the Atlantis Sirki quilt your ca...What a riot! AND, the <a href="http://www.sirkgeldi.com/anlantis-sirki-katilim-formu.html" title="Atlantis Sirki" rel="nofollow">Atlantis Sirki</a> quilt your cat is enjoying <a href="http://www.sirkgeldi.com/" title="Atlantis Sirki" rel="nofollow">Atlantis Sirki</a> so much is gorgeously beautiful! The Wanghttps://www.blogger.com/profile/09985533318311557169noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-13092405499661758382012-12-02T13:03:39.229-05:002012-12-02T13:03:39.229-05:00Insiders always have an advantage over other inves...Insiders always have an advantage over other investors at least in the short term.PENNY STOCK BLOGhttp://www.manhattancalumet.comnoreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-70797493726936726282012-10-14T14:40:05.268-04:002012-10-14T14:40:05.268-04:00Hello friend
How are you Today Visit your Web Blo...<br />Hello friend <br />How are you Today Visit your Web Blog Page Got more Information you share Best Information my pray with you and Your Business get more success and Blessings in The name of LORD.please visit our website get more information...<br /><a href="http://www.prizebondlucky.com/" rel="nofollow">prize bond</a><br /><a href="http://www.prizebondlucky.com/" rel="nofollow">prize bonds results</a><br />SEO serviceshttps://www.blogger.com/profile/08925030031238332077noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-6009234303617615382012-10-06T03:51:49.256-04:002012-10-06T03:51:49.256-04:00Professor,
Compare this valuation spreadsheet of A...Professor,<br />Compare this valuation spreadsheet of AAPL with the one you did back in March I believe there is a major error on your valuation. You had AAPL in "Entertainment" industry but AAPL should be in "Computer/Peripherals industry. Therefore, the number for Sales to Capital (Look at Cell B18 of input sheet)should be 2.96 not 0.78, and if the number were changed to 2.96, the estimated value/share would increase dramatically.CH868https://www.blogger.com/profile/02196405783229022257noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-20510460267224789582012-08-13T08:48:19.130-04:002012-08-13T08:48:19.130-04:00This post is related with the data set updates. Be...This post is related with the data set updates. Being a regular follower of you, i would only wish the updates can be at least yearly twice. I also suggest a systematic update which can reduce the manual intervention by reducing your time spent. <br /><br />Also i wish you to inform(educate) a little about shareholding pattern and its impact.<br />Hope you will?<br /><br />H.VenkatUnknownhttps://www.blogger.com/profile/05434191692193311277noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-62224106419466880402012-08-07T13:39:34.214-04:002012-08-07T13:39:34.214-04:00hello professor -
pv of perpetuity = A/r; what is...hello professor - <br />pv of perpetuity = A/r; what is the pv if r is paid say semi-annually until perpetuity?<br />thanks for your help.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-76527912857921092062012-08-03T01:46:26.055-04:002012-08-03T01:46:26.055-04:00I have bookmark this page.
So, here is the challen...I have bookmark this page.<br />So, here is the challenge. By the time you read this post, the Apple earnings report will have been made public.business loanshttp://www.biz2credit.comnoreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-43789165340750667112012-08-03T00:37:33.615-04:002012-08-03T00:37:33.615-04:00This post is related with the data set updates. Be...This post is related with the data set updates. Being a regular follower of you, i would only wish the updates can be at least yearly twice. I also suggest a systematic update which can reduce the manual intervention by reducing your time spent. Also i wish you to inform(educate) a little about shareholding pattern and its impact.<br />Hope you will?<br /><br />H.VenkatUnknownhttps://www.blogger.com/profile/05434191692193311277noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-17664724748359725552012-07-31T09:34:35.999-04:002012-07-31T09:34:35.999-04:00Zacks introduced a proprietary stock ranking syste...Zacks introduced a proprietary stock ranking system based on analysts’ estimate revisions to determine the “lows” and “highs”. Although the smaller stocks in the highest rank indeed show high annualized rewards in Zacks’ back testing system over the past 12.5 years, the maximum drawdowns are too big to make these portfolios time-robust in our terms. However, when you pair these portfolios with the shorted sells of the largest stocks of the lowest rank, you obtain a time robust strategy with a risk/reward ratio of about 1/3 with annualized gains of 30% and maximum drawdowns of about 11%. Recently, the NYT reported that such screens were already subject of a study from 2004 showing anomalously high returns between 1999 and 2002. http://finance.yahoo.com/blogs/daily-ticker/wall-street-analysts-hedge-funds-inside-scoop-scandal-151609427.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-37615225394309111442012-07-29T15:04:10.664-04:002012-07-29T15:04:10.664-04:00http://www.businessinsider.com/apple-profit-margin...http://www.businessinsider.com/apple-profit-margin-2012-7<br /><br />Reducing market share (i-phones) due to samsung; Heavy competition for i-pad; lack of visibility on new path-breaking products.<br /><br />What remains for apple now? - it seems like it is better off paying dividends - unless of course we have some surprises in store.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-12108766134989586712012-07-28T13:16:06.901-04:002012-07-28T13:16:06.901-04:00Prof sorry this is a query - unrelated to this blo...Prof sorry this is a query - unrelated to this blog - which relates to pv computation -<br />In your pvcacl worksheet - in pv of simple cf - period r is computed as = (1+ annual r)^(1/no.of periods)-1; For instance if annual r=0.085 and no.of periods, n=2, period r = (1.085)^(1/2)-1=0.0416.<br />My query is why not used period r as equal to annual r/n i.e.0.085/2=0.425 for pv computation?<br />Even effective interest rate formula suggested in your book (1+annual r /n)^n-1 = 1.0425^2-1=0.868 corresponds to 0.425.<br />Which r is correct,0.0416 or 0.0425?<br />Would appreciate if you can help.<br />Thanks.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-18183487814158312722012-07-28T11:56:30.622-04:002012-07-28T11:56:30.622-04:00THANKS FOR FACEBOOK REPLYTHANKS FOR FACEBOOK REPLYAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-58931566403687273922012-07-28T10:50:17.576-04:002012-07-28T10:50:17.576-04:00Unfortunately, the data updates have to stay once ...Unfortunately, the data updates have to stay once a year. It does take me about a week to do all of them and I cannot afford to do it more than once a year.<br /><br />As for Facebook, you can revisit the valuation but don't over react to one quarter's information. To the extent that you reassess revenue growth and margins, there will be an effect on value. More worrisome is what Facebook might pay (in acquisitions especially) to get that growth.Aswath Damodaranhttps://www.blogger.com/profile/12021594649672906878noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-74834964001137133532012-07-28T03:57:45.729-04:002012-07-28T03:57:45.729-04:00This post is regarding data sets provided by you. ...This post is regarding data sets provided by you. I observe that the data sets are updated up to January 2012. I request you to provide the updated sets up to March 2012.It will benefit all your followers.<br /><br />H.VenkatUnknownhttps://www.blogger.com/profile/05434191692193311277noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-33097431361460329332012-07-27T01:35:40.555-04:002012-07-27T01:35:40.555-04:00Hi
is facebook results as a "noise" or w...Hi<br />is facebook results as a "noise" or we should change the valuation?<br />growth to 32% (from 40%)<br />and margins ?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-14016133577117993622012-07-26T23:30:59.070-04:002012-07-26T23:30:59.070-04:00Observed recent Facebook stock drift after reading...Observed recent Facebook stock drift after reading your post and shorted it as a result. It worked! However I understand facebook doesnt have enough data out there (only since May 18) and there are many other factors contributing to the stock price. Probably got lucky, but happy for it :-)<br /><br />-RAAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-66878699915574993772012-07-25T23:32:39.664-04:002012-07-25T23:32:39.664-04:00Thanks for the great post! As a new student of the...Thanks for the great post! As a new student of the stock market, Apple was the first "live" earnings report I have paid attention too. Your article helped me conceptualize the consequences of earnings surprises.<br /><br />Thanks again,<br />CollinAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-59234038619605237272012-07-25T12:00:13.880-04:002012-07-25T12:00:13.880-04:00Hi Professor,
Have you done this analysis with mo...Hi Professor,<br /><br />Have you done this analysis with more recent data? It seems that your analysis is based on data prior to 2002. I've seen research showing the impact of REG FD nullifying/weakening the pre-announcement drift. Is that consistent with your analysis?<br /><br />ThanksLinhttps://www.blogger.com/profile/18107166195046124828noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-16643249979926352872012-07-25T10:28:18.120-04:002012-07-25T10:28:18.120-04:00hi
as an Intrinsic value assessment:for CAT
the ma...hi<br />as an Intrinsic value assessment:for CAT<br />the market "got" it right?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-74075710040904834332012-07-24T19:02:01.802-04:002012-07-24T19:02:01.802-04:00Is this specifically after earnings announcements?...Is this specifically after earnings announcements?Aswath Damodaranhttps://www.blogger.com/profile/12021594649672906878noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-22183421805094863932012-07-24T16:51:48.465-04:002012-07-24T16:51:48.465-04:00Professor,
I've seen some research looking at ...Professor,<br />I've seen some research looking at the performance of stocks over longer time frames, and it seems that relative performance starts drifting back after about 180 days. 360 days later there is very little evidence of any impact at all... <br /><br />Are you familiar with this analysis?<br /><br />Thank you.Anonymousnoreply@blogger.com