Equity Risk Premium (ERP) Explained: Valuation & Returns
How the Equity Risk Premium measures excess expected equity returns, calculates hurdle rates, and signals market extremes.
9 Valuation Primers
Showing 10 Primers
Equities & Valuation: Discounted Cash Flows & Equity Risk Premia
Structural valuation frameworks: Equity Risk Premium (ERP), Shiller cyclically adjusted CAPE, factor investing momentum and value anomalies, forward vs. trailing multiples, and Fed model metrics.
Shiller CAPE: Cyclically Adjusted Equity Valuation Framework
Understanding the 10-year real earnings multiple, mean-reversion dynamics, and long-term return forecasting limitations.
Forward vs. Trailing P/E: Which Metric Actually Matters?
Analyst revision cycles, denominator distortion effects, and navigating market tops and bottoms with P/E multiples.
Earnings Yield & the 10-Year Treasury: Relative Valuation
How comparing S&P 500 earnings yield against the 10-Year Treasury yield drives the TINA vs. BARP multi-asset regime shift.
The Fed Model: Equities vs. Treasury Yields Explained
Origins, mathematical equilibrium, strengths, and theoretical inflation fallacies of the traditional Fed Model.
Why Systemic Liquidity Drives Equity Multiples
The complete 5-stage transmission pipeline linking Fed reserves, financial conditions, discount rates, and S&P 500 P/E expansion.
Chapter 11 Bankruptcy Restructuring, DIP Financing & Fulcrum Security Mechanics
Absolute Priority Rule (APR) enforcement, Debtor-in-Possession priming liens, fulcrum security derivations, Section 363 asset sales, plan cramdowns under § 1129(b), and Merton structural credit default mathematics.
The Mathematics of Multi-Factor Asset Pricing: Fama-French 5-Factor & Momentum
Exhaustive institutional guide to multi-factor asset pricing models: CAPM, Fama-French 3-Factor, 5-Factor, and Carhart Momentum. Factor portfolio construction, 2x3 independent sorts, and cross-sectional regressions.
Quantitative Forensic Accounting: Beneish M-Score & Altman Z-Score
Comprehensive institutional guide to quantitative forensic accounting. Mathematical formulation of Beneish 8-variable M-Score probit model, Altman Z-Score bankruptcy prediction, Piotroski F-Score, and Sloan accruals.
Corporate Capital Allocation Strategy: Buybacks, Dividends & ROIC Compounding
Master corporate capital allocation: mathematical derivation of share repurchase accretion/dilution, breakeven P/E theorems, ROIC vs WACC value creation, and dividend policy.