Sentences with phrase «equity valuations at»

With equity valuations at historically high levels, I understand being light on equities right now.

«The Shanghai Composite in aggregate is now trading back well below average global equity valuations at the headline index level,» says Jonathan Garner, Morgan Stanley's Chief Asia and Emerging Market Equity Strategist.

The averages above do hide a significant amount of variation in returns, and the direction of equity valuations at any given point in time also matters.

With equity valuations at historic highs and government bonds barely eking out a return, junk bonds offer solid yields at a good price, he reasons.

Sara Silverstein: So just to start, what do you think about pressure on equity valuations at the levels that they are at right now?

Not exact matches

He calculated if the 90 U.S. unicorns were to go public at a 20 percent premium to their most recent valuations, investors would have to create a staggering $ 131 billion in new equity.

Select startups that receive an upfront investment of $ 50,000 for 5 % equity, at a $ 1,000,000 valuation.

Because when you actually look at the relationship across sectors, and you look at their valuations based on return on equity, or other measures, all sectors seem to be about fairly valued.

For one, investors are going to have to get comfortable taking on more risk in their equity portfolios by buying stocks at higher valuations.

At the same time, the «cliff deal» removes a layer of uncertainty, which should also help to compress risk spreads and support equity valuations.»

Jet previously raised $ 225 million at a $ 600 million valuation to take on Amazon — the most equity funding ever raised in the first 12 months by a US commerce company.

But he noted that this may have been Foursquare's best option at the time — else it fork over a greater percentage of the company's equity due to a potentially reduced valuation.

During that earlier period, American business earned an average of 11 percent or so on equity capital employed and stocks, in aggregate, sold at valuations far above that equity capital (book value), averaging over 150 cents on the dollar.

Jet previously raised $ 225 million at a $ 600 million valuation to take on Amazon — the most equity funding ever raised by a US commerce company in its first 12 months.

At these high equity valuations, that could really scare investors.»

«Equity markets have really been buoyant for a long time now and valuations are extremely high, higher than you can actually justify based on fundamentals,» Allianz Chief Executive Oliver Bate told CNBC Saturday at the China Development Forum in Beijing.

«While everyone is focused on valuation and bubbles (to some degree rightfully so), the fact remains that the last few years have been supported by a low level of net equity issuance that has, all else equal, supported prices,» says Dan Greenhaus, chief global strategist at BTIG.

Today, Murphy serves as CTO of Snapchat, which is currently raising $ 650 million in equity at a $ 16 billion valuation.

«Now when I talk to those same investors, they basically say if you outspend cash flow on stupid investments and destroy capital, I'm not just going to be mad at you, I will punish you and I will destroy your equity valuation, and I will never ever own your stock again,» he said.

If somebody gives you money under a convertible debt note at a $ 2.5 m valuation and another person funds you with convertible debt at $ 5m valuation (high resolution financing) and your equity round finally closes at a $ 10 million valuation... what technically happens?

«While the stock at its current valuation is discounting the end of the Yieldco business model, we believe that management has a nice cushion of cash and several options to ride through this market dislocation until cost of raising equity for Yieldcos normalizes,» RBC Capital analysts said.

For instance, equity crowdfunding is not a great solution at an early, early stage, because it can be really expensive in the long term, when you have a low valuation... So we would help an entrepreneur understand, well, let's look at debt - based crowdfunding,» he says.

The New Banks have kept their corporate cash cows afloat while window - dressing owners» equity with unrealistic valuations of consumer debts that can not be paid, except at the cost of bankrupting the economy.

In April 2014, Airbnb had closed a $ 450 million round of funding, led by private equity firm TPG, at a $ 10 billion valuation.

When finally, I sat down and started talking, they basically tallied up the hours I spent and gave a choice to get equity at current $ 3 mil valuation or get full cash for my time or blend of both cash / equity.

We view the present environment as an opportunity to add quality equity holdings at this level or at cheaper valuations.

Other private equity firms have so far balked at Court Square's valuation expectations of close to $ 2 billion, sources have said.

These behavioral finance influences can skew a portfolio's overall allocations toward an overemphasis of potentially higher - yielding equities that in some instances may represent more downside risk than upside potential at current valuation levels.

«Absent material equity valuation improvements for Ares and KKR, we expect further conversions of Fitch - rated alternative investment managers to be decreasingly likely, given that the remaining managers generally have more incentive income which would not benefit from the lower tax rate,» said Meghan Neenan, head of North American Non-Bank Financial Institutions at Fitch.

Also, European equities appear to trade at relatively cheaper valuations than U.S. equities and offer a higher dividend yield.

Looking at valuations overall, we have observed that earnings of many EM companies are gradually improving, in terms of profitability, margins and return on equity, after these variables came under pressure recently.

When we look at strategies, long short equity specifically, we anticipate the market will be more discerning with regard to fundamentals like revenue growth and valuations.

At this point, obscene equity valuations are already baked in the cake on valuation measures that are reliably correlated with actual subsequent stock market returns.

Equities are essentially 50 - year duration investments at current valuations, and even if investors are passive and don't hold any view about future market returns at all, one of the basic principles of financial planning is to align the duration of ones assets with the expected horizon over which the funds are expected to be spent.

Given the absence of a public trading market of our common stock, and in accordance with the American Institute of Certified Public Accountants Accounting and Valuation Guide, Valuation of Privately - Held Company Equity Securities Issued as Compensation, our board of directors exercised reasonable judgment and considered numerous and subjective factors to determine the best estimate of fair value of our common stock, including independent third - party valuations of our common stock; the prices at which we sold shares of our convertible preferred stock to outside investors in arms - length transactions; the rights, preferences, and privileges of our convertible preferred stock relative to those of our common stock; our operating results, financial position, and capital resources; current business conditions and projections; the lack of marketability of our common stock; the hiring of key personnel and the experience of our management; the introduction of new products; our stage of development and material risks related to our business; the fact that the option grants involve illiquid securities in a private company; the likelihood of achieving a liquidity event, such as an initial public offering or a sale of our company given the prevailing market conditions and the nature and history of our business; industry trends and competitive environment; trends in consumer spending, including consumer confidence; and overall economic indicators, including gross domestic product, employment, inflation and interest rates, and the general economic outlook.

But with long - term bonds and non-cyclical equity sectors trading at historically extreme valuations while cyclical sectors trade at valuations below their long - term average, we think that risk aversion is creating numerous investment opportunities for investors willing to build a portfolio of more economically sensitive companies.

For instance, as measured by price - to - earnings (P / E) and price - to - book (P / B) valuations metrics, EM stocks continue to trade at a roughly 30 % discount to the broader global equity market (source: MSCI, as of 3/31/2015).

We allow that short - term interest rates may be pegged well below historical norms for several more years, and we know that for every year that short - term interest rates are held at zero (rather than a historically normal level of 4 %), one can «justify» equity valuations about 4 % above historical norms — a premium that removes that same 4 % from prospective future stock returns.

When and if interest rates begin to rise, corporates may have the incentive to tilt their capital structure back to equity, or at least to reduce stock repurchases, which could raise further questions about stock market valuations.»

Despite my admitted stumble in the half - cycle since 2009, it's perplexing that the equity market is at the second greatest valuation extreme in the history of the United States, on what are objectively the most durably reliable valuation measures available, but it has somehow become an affront to suggest that this will not end well.

Both valuations and consumer sentiment may be at high levels, but with stable real yields, rising productivity and «normalised» valuations, the equity outlook is not necessarily negative — as long as economic growth continues.

It is not without its faults, but it is a decent way to look at the overall valuation of the equity market and the potential total returns over the next 10 years.

In our 1Q2015 letter, we noted that equity - market valuations were at dangerous levels by three different measures: the CAPE ratio, the Q - ratio, and the Buffett indicator, which are discussed at length in our last letter.

The Series A Preferred shall also be convertible into any future series of Preferred Stock (the «Future Preferred») under either of the following circumstances: (a) if such conversion is approved by the Board or (b) if such conversion is in connection with a future Preferred Stock equity financing in which the Company's fully diluted pre-money valuation is greater than the Company's fully diluted post-money valuation immediately following the Series A Financing contemplated by this term sheet (a «Future Financing»), in either case, on a one - for - one basis (subject to anti-dilution adjustment) at the option of the holder; provided however, if such conversion is in connection with a Future Financing, that the holder may convert into shares of Future Preferred only in the event that all of such shares of Future Preferred received by the holder upon conversion are sold to an Approved Investor (as defined below) no later than 90 days following the first closing of the Future Financing at a price per share no lower than the price per share at which the Company sells shares of such Future Preferred in the Future Financing and, provided further, that such Approved Investor is not an affiliate, family member, or related party of the holder.

The YC documents are probably fine in situations where the investor (i) wishes to purchase equity rather than convertible debt, (ii) is otherwise somewhat indifferent on terms other than percentage ownership of the company, liquidation preference and right of first offer in future financings, (iii) is investing at a fairly low valuation (i.e. a couple of million dollars), and (iv) is only investing a small amount (i.e. a couple hundred thousand dollars or less).

Stronger growth, higher inflation and low equities valuations make a compelling case for a fresh look at Japan.

Our general take on equities is that valuations are a bit stretched at the moment.

If valuations remain high or increase, at some point higher yields may make bonds more attractive relative to equities.

However, I believe that companies are generally better off with convertible debt rather than an equity financing at a low valuation.

European equities have done well this year, but they are still trading at a valuation discount to U.S. peers.