tag:blogger.com,1999:blog-8152901575140311047.post874766085714978968..comments2024-03-28T08:49:51.975-04:00Comments on Musings on Markets: Moneyball and Investing: Data, Information and my 2012 UpdateAswath Damodaranhttp://www.blogger.com/profile/12021594649672906878noreply@blogger.comBlogger18125tag:blogger.com,1999:blog-8152901575140311047.post-89824045096644717402013-11-22T18:13:58.377-05:002013-11-22T18:13:58.377-05:00Fantastic post I like the post really like the met...Fantastic post I like the post really like the method that you identified things, you do an excellent career a lot of some others as if you as a result of which type of beneficial weblogs present attention to help you related to many points. I read another useful information sites out of your websites and also I am a whole lot engaged with all your blogging expertise, My partner and i likewise did start to write information sites and also this type websites truly support myself out. My partner and i witout a doubt book marked ones web page and distributed the internet websites to our acquaintances not merely me however every one of them such as your current blogging expertise, desire anyone compose far more interesting weblogs this way a single in addition to best of luck to your future weblogs.<br /><br />Jimmy Wilson from <a href="http://www.amazon.com/Tom-Hardy-Bane-Vest-Leather/dp/B00D9AD0D2" rel="nofollow">Bane Vest for Sale</a><br />Anonymoushttps://www.blogger.com/profile/02378236444802184226noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-81301729410159637592013-04-10T08:14:03.702-04:002013-04-10T08:14:03.702-04:00Thank u for your sharing.Your blog has a unique fe...Thank u for your sharing.Your blog has a unique feature that can make the people who reads become happy.After reading your blog,I feel happy.<br />Learn Stock Markethttp://www.sanasecurities.comnoreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-10259821644989916952013-02-28T14:23:26.068-05:002013-02-28T14:23:26.068-05:00Lets rename wall street money ball street.Lets rename wall street money ball street.QUALITY STOCKS UNDER 5 DOLLARShttp://www.zipleaf.us/Companies/The-Manhattan-Calumet-Value-Stock-Hotlinenoreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-81480300501537801472013-01-23T22:18:49.075-05:002013-01-23T22:18:49.075-05:00Thanks Prof. Btw i just drop by to know what is th...Thanks Prof. Btw i just drop by to know what is the different of market risk premium calculated using implied risk premium and market risk premium from service provider by bloomberg ( they are using market cap * avarage ddm index). And like you said, many people still let go their responsibility to service provider for the data eventhough they dont know what the principle behind the formula and how service provider derive the number.Jujuhttps://www.blogger.com/profile/13176336116092036729noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-87945038252396801332012-11-09T00:42:30.905-05:002012-11-09T00:42:30.905-05:00You wrote very well in this article, this contains...You wrote very well in this article, this contains lot of valuable informative information. The data must be very clearly and perfectly about the business, this is the main consideration thing.<br /><a href="http://www.cafranchiseopportunities.com/franchise-business" rel="nofollow">franchise business</a>Anonymoushttps://www.blogger.com/profile/02035299584559001367noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-59340938005394603292012-07-28T03:57:14.004-04:002012-07-28T03:57:14.004-04:00This 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-44582292526981492112012-02-11T08:12:21.834-05:002012-02-11T08:12:21.834-05:00Will fix those...Will fix those...Aswath Damodaranhttps://www.blogger.com/profile/12021594649672906878noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-59817858459096991442012-02-08T23:35:27.570-05:002012-02-08T23:35:27.570-05:00This is a great collection, thanks a lot! I'm ...This is a great collection, thanks a lot! I'm not sure if you were aware, but a few of the links to the data files are broken. Specifically the following: Chinacompfirm10.xls, Chinacompfirm09.xls, Indiacompfirm10.xls, Indiacompfirm09.xls, debtfundJapan.xls, divfundGlobal.xls, vebitChina.xls, and vebitIndia.xls.Michaelhttps://www.blogger.com/profile/17538861929992242643noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-41331663612057993442012-01-31T15:55:04.189-05:002012-01-31T15:55:04.189-05:00Hello! Thanks for the feedback and "fixing&qu...Hello! Thanks for the feedback and "fixing". <br /><br />The emerging market beta was indeed a problem, but then again, there is hardly reliable data availble and most of the time run against local indices...Tomnoreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-16673499942899908612012-01-31T06:19:56.544-05:002012-01-31T06:19:56.544-05:00thanks for the recent update. well written article...thanks for the recent update. well written article. i really appreciate this writing.factoring companyhttp://cbacfunding.com/services/small_business_loannoreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-71095032464147387302012-01-30T21:50:43.565-05:002012-01-30T21:50:43.565-05:00Dear mr. Aswath,
I just recall the other day that...Dear mr. Aswath,<br /><br />I just recall the other day that you have post some topic of bond or equity, which one is better market indicator. But i can't find the topic here.<br /><br />Thxjuhttps://www.blogger.com/profile/03696704187415138657noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-82880910672360384752012-01-29T15:33:43.393-05:002012-01-29T15:33:43.393-05:00Michael,
What you are doing is what I hoped would ...Michael,<br />What you are doing is what I hoped would come out of the data.. Explore the data and see both the similarities and the differences... So, have fun with it!Aswath Damodaranhttps://www.blogger.com/profile/12021594649672906878noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-29763606829596045262012-01-29T13:02:09.744-05:002012-01-29T13:02:09.744-05:00Thanks
I asked because I was curious about the tr...Thanks<br /><br />I asked because I was curious about the trends in working capital attached to sales, including ‘by industry’ – and to the extent we can estimate them, also what the incremental working capital rates might be for various industries. I’m guessing that AP, Inv, and AR are probably the most useful components for that purpose – perhaps more so than total reported non-cash WC. But I’m not entirely sure.<br /><br />Sometimes it seems that we see some businesses, and perhaps entire industries, where steady revenue and earnings growth equates to lower value, from the combination of low margins and apparently high incremental WC rates, where the incremental WC is some multiple of the incremental earnings rate. A lot of heavy manufacturing looks like it may fall in this category.<br /><br />Comparing the WC% (on an AR+INV-AP basis) to industry net margins is interesting. What’s also interesting are the trends – for example most WC rate improvement the past decade has apparently come from AR (I would have initially guessed inventory, but that may have been more the case in the past). <br /><br />Looking at companies within industries is interesting also. For example, in Retail Stores we see an overall 5% non-cash WC rate (using the 3 components), however Walmart's negative WC rate suggests it might have a significant ‘growth’ advantage.<br /> <br />Again thanks – this is interesting.michael shttps://www.blogger.com/profile/17887807883917923435noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-28300198039723364292012-01-29T10:41:24.573-05:002012-01-29T10:41:24.573-05:00Because I also include the catch all item "ot...Because I also include the catch all item "other current liabilities" (which includes other non-interest bearing current liabilities like deferred taxes) and "other current assets" (which include other non-cash current assets).Aswath Damodaranhttps://www.blogger.com/profile/12021594649672906878noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-41835191514341856572012-01-29T09:11:42.242-05:002012-01-29T09:11:42.242-05:00Thank you for making this available.
One question...Thank you for making this available.<br /><br />One question. On the 'Working Capital Requirements by Industry' files, the percentage columns on first year (1/99) file add across as I would expect (A/R+Inv-A/P = NonCashWC), but in later years they don't, by substantial amounts. Is there some other factor involved, or something in the way this is aggregating that's causing this? (Since these are totals by industry it's difficult to look up the answer myself).<br /><br />Many thanks.michael shttps://www.blogger.com/profile/17887807883917923435noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-8625882346733556482012-01-27T21:41:28.843-05:002012-01-27T21:41:28.843-05:00Tom,
The betas are a problem. Capital IQ estimates...Tom,<br />The betas are a problem. Capital IQ estimates the betas against local indices and they don't always aggregate to make sense. For instance, last year, the average beta for emerging market companies on the whole was less than 0.70. This year, I did introduce a global standardization requirement, where the average beta for companies globally has to be one. That does mean that betas in regional breakdowns (such as Europe) have changed. I continue to wrestle with this issue, since there is no easy solution.Aswath Damodaranhttps://www.blogger.com/profile/12021594649672906878noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-26858829794167854832012-01-27T18:05:57.476-05:002012-01-27T18:05:57.476-05:00Very interesting post. Data is obviously critical...Very interesting post. Data is obviously critical, but there should be a balance between data and story. If you looked purely at data, you might miss critical information about a company that could lead you to believe it will perform in a different manner down the road than the pure data indicates.farmland as an investmenthttp://www.greenworldbvi.com/alternative-investments-options/agricultural-farmland/noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-57577892927276184492012-01-27T07:30:28.474-05:002012-01-27T07:30:28.474-05:00Thanks a lot for the efforts! Very much appreciate...Thanks a lot for the efforts! Very much appreciated and very interesting data indeed.<br /><br />One thing puzzling me slightly, but is not a major concern as it works for the Global file is that e.g. the beta for all of Europe does not add up to 1. If I remember correctly, last year the global beta was above 1 and for Europe also below...Tomnoreply@blogger.com