Sentences with phrase «valuation premium»

In 2000, technology stocks traded at huge valuation premiums; today they sell at large discounts.

By the end of the day, that initial valuation premium of $ 3.7 billion turned into a deficit of $ 1.2 billion, and that was against a rising market.

The obvious problem is they're generally priced accordingly — their additional valuation premium reflecting the (perceived) consistency & sustainability of future excess profits.

One is legitimate — every year in which short - term interest rates are expected to be zero instead of say, a typical 4 %, should reasonably warrant a 4 % valuation premium in stocks and bonds, over and above run - of - the - mill historical norms (one can demonstrate this using any discounted cash flow approach).

Retrospective reserving subtracts accumulated value of benefits from accumulated value of valuation premiums as of a point in time.

The extreme valuation premiums afforded to defensive, high - quality and high - growth stocks means that their inverse corollaries — cyclically geared value stocks — are historically cheap and under - owned.

The extreme valuation premiums afforded to defensive, high - quality and high - growth stocks means that their inverse corollaries — cyclically geared value stocks — are historically cheap and under - owned.

You say, «Over that period, domestic stocks have consistently traded at a premium to exporters (in other words, they have been more expensively valued), with an average PE valuation premium of 15.1 %.»

There can be significant variation, for example, in the positions taken by valuation professionals with regard to cap rates, discount rates, valuation methodologies, normalizing adjustments, as well as valuation premiums and discounts.

But in the late 90s, when small technology companies with excessive valuation premiums displaced big businesses from the large - cap universe, investors who thought large caps were low risk got a double whammy — large - cap stocks» earnings and P / E multiples both declined sharply.

Maintaining the BTC valuation premium may eventually become challenging in view of this, but obviously that remains open to question — the first mover advantage and name recognition effect were so far sufficient for BTC to maintain its top spot.

The two peaks on the chart are the two - tiered «glamour stock» markets of the early 1970's and the late 1990's, where large companies commanded steep valuation premiums.

However, technology stocks have always commanded a sizeable valuation premium over other sectors, and there are some good reasons for that.

The amount of prospective reserves at a point in time is derived by subtracting the actuarial present value of future valuation premiums from the actuarial present value of the future insurance benefits.

Over that period, domestic stocks have consistently traded at a premium to exporters (in other words, they have been more expensively valued), with an average PE valuation premium of 15.1 %.

A valuation premium to Nordic peer Nokia is hard to justify.

Second, if one wishes to argue that today's low interest rates will «justify» permanently extreme valuations even 10 - 12 years from today, it's useful to remember that if interest rates are low because the growth rate of cash flows is also low, then no valuation premium is «justified» at all.

If interest rates are low because growth rates are also low, no valuation premium is «justified» by the low interest rates at all.

When interest rates are low because growth is also low, no valuation premium is justified at all.

This growth story is far from over, and deserving of a valuation premium.

I've observed this before, and it's essential to repeat it again: if interest rates are lower because likely future growth in deliverable cash flows is also lower, then no valuation premium is justified at all.

Not everything Enron did was fraudulent, but having a highly valued stock allowed it to buy up companies with assets which reduced some of its valuation premium, though not enough for the stock to go out at a positive figure.

In fact, the Monaghan stake is ultimately responsible for my valuation premium to Book: A 15 P / E multiple for this stake may seem aggressive, but it's on what looks like a temporary profit dip, and the implied valuation is undemanding considering their recent EUR 100 mio capex programme.

Even better, that valuation premium isn't as high as it appears to be.

Another example of negative externalities in the stock market is when a leading company from an industry lists on the exchanges, which reduces the valuation premium that other listed companies from that industry enjoyed in the past.

This is what happened, for example, when TCS listed on the exchanges in 2004, which reduced the valuation premium that investors in Infosys and Wipro had enjoyed in the past.

The valuation premium in an NLP reserve is a premium such that the value of the reserve at time zero is equal to zero.

The investors purchased cryptocurrency options called «coevals» that were to be later used to purchase tokens called Monkey Coins at a valuation premium in a forthcoming token sale.