Harness Wealth

APRIL 16, 2025

Key takeaways Tax planning impacts every facet of an acquisition, from initial valuation to post-closing integration, with early strategic decisions potentially saving millions in future tax liabilities.

Taxes 52

Taxes Tax Planning Startup Compliance 52

Dear Mr. Market

MARCH 6, 2025

Here are the annual returns for the S&P 500 Index during Trumps first term: 2017 : +21.9% Valuations. These pullbacks may feel painful, but they are necessary for resetting valuations and providing new buying opportunities. The reaction was, unsurprisingly, negativesimilar to what were seeing today. Geopolitical uncertainty.

Marketing 63

Marketing Marketing Economy Economics 63

The Big Picture

FEBRUARY 4, 2025

How do you think about valuations for both equities and fixed income here in the beginning of 2025? And the answer to that is that the Sheila cyclically adjusted PE ratio, which is an attempt to try to correct the stock market valuations for the business cycle, is currently at a very elevated 37.

Economy 253

Economy Banking Economics Taxes 253

The Better Letter

JANUARY 10, 2025

IBM’s return was fueled by growing earnings, growing dividends, and buying back stock at cheap valuations. Even Buffett, whose BKB made the list, was about to buy (he bought into IBM in 2011, although the trade didn’t turn out well; he was out in 2017, having earned about 5 percent per year, including dividends).

Numbers 100

Numbers Retail Pharmaceutical Government 100

The Big Picture

MARCH 18, 2023

The firm can go decades where they don’t talk about value (Post-GFC to 2017), because most everything else they do was working. Over that period, expensive companies outperformed not on price but because they out-executed and grew more in terms of earnings, sales, and cash flows.

Retirement 305

Retirement Management Sales Assets 305

The Big Picture

APRIL 24, 2023

December 1, 2022) Secular vs. Cyclical Markets, 2022 (May 16, 2022) Bull Market Bull (March 31, 2021) Redefining Bull and Bear Markets (August 14, 2017) Are We in A Secular Bull Market? Note we have not even referencing the valuation debate. Previously : Observations to Start 2023 (January 3, 2023) Bottoming?

Economics 294

Economics Portfolio Valuation Marketing 294

The Big Picture

FEBRUARY 27, 2023

equity valuations: “Baby-boomers’ huge flow of 401K plan contributions helped to drive equities higher; now that ~70 million Boomers are retiring, when do demographics flip this from a huge positive to a net drag?” (aka The Hidden World of Failure ) (October 23, 2020) Stock Ownership : Distribution of Household Wealth in the U.S.

Distribution 322

Distribution Retirement Retirement Planning Taxes 322

Validea

SEPTEMBER 21, 2022

With the S&P 500 now close to 20% off its highs, I thought now might be a good time to look to our market valuation tool to see where things stand. But before I do that, I wanted to first cover two caveats I always put in articles about market valuation. With that all being said, let’s look at the current valuation data.

Valuation 72

Valuation Marketing Marketing CFP 72

Brown Advisory

DECEMBER 4, 2017

2017 Year-End Planning Letter. Mon, 12/04/2017 - 13:10. We are closing 2017 with nearly the same stance as last year. Spotlights for Prudent Planning in 2017. There have been very few changes to tax law in 2017, given that Congress has been focused on the longer-term tax reform effort. Since last year’s U.S.

Planning 52

Planning Taxes Clients Tax Planning 52

Brown Advisory

JUNE 30, 2017

Global Leaders Investment Letter - Q2 2017 ajackson Fri, 06/30/2017 - 09:50 Global Leaders Strategy Investment Letter - Q2 2017 In this letter the team discuss the equity market euphoria and Robert Shiller’s cyclically adjusted price-to-earnings (CAPE) valuation tool in detail.

Investing 40

Investing Investments Valuation Clients 40

Brown Advisory

JUNE 30, 2017

Global Leaders Investment Letter - Q2 2017. Fri, 06/30/2017 - 09:50. Global Leaders Strategy Investment Letter - Q2 2017. In this letter the team discuss the equity market euphoria and Robert Shiller’s cyclically adjusted price-to-earnings (CAPE) valuation tool in detail.

Investing 40

Investing Investments Valuation Clients 40

Nationwide Financial

NOVEMBER 16, 2022

distillate fuel oil inventories have been below the five-year low (2017–2021) since the start of 2022, primarily driven by less global refining capacity. Uncertainty across commodity markets can also be viewed through valuations, earnings, and profitability metrics. Energy Information Administration (EIA), U.S.

Valuation 105

Valuation Economics Marketing Marketing 105

MarketWatch

MAY 5, 2023

billion valuation it reached in 2017, would wipe out most of Vice’s shareholders and impair debts held by other firms, the Journal said, citing people familiar with the matter. The deal, which prices the struggling media outlet far below the $5.7

Media 40

Media Valuation Sales Planning 40

The Irrelevant Investor

JANUARY 8, 2022

I tweeted that quote in July 2017, as the CAPE ratio crossed 30 for just the third time ever. The two other markets that saw such lofty valuations were 1929 and 2000. To be very clear, at that time, I was in the "lower your return expectations camp" due to a combination of recent performance and high valuations.

Valuation 52

Valuation Sales Marketing Marketing 52

The Irrelevant Investor

MAY 23, 2017

of what SNAP did in March, 2017. Netflix has had triple digit returns in five of the last fourteen years, was the best performing S&P 500 stock in 2013, and 2015, and it's up 27% in 2017. I suppose a better way to say this is that it was cheap based on expectations, but expensive based on traditional valuation metrics.

Marketing 52

Marketing Marketing Valuation 52

David Nelson

JANUARY 3, 2023

Most valuation models start with the risk free alternative and with short term treasuries yielding well above 4%, the growth necessary to support high multiple growth stocks is just that much higher. From 2017 – 2021 growth outperformed value by a staggering 119%. Growth vs Value – There was no alternative.

Risk Management 98

Risk Management Portfolio Management Valuation 98

The Irrelevant Investor

AUGUST 22, 2021

By Packy McCormick) On one hand the excitement is infectious, on the other hand the participation in absolute terms is nowhere even close to what we saw in 2017. (By (By James Montier and Philip Pilkington) Life is easier, but deciding is more complex. (By By Justin Paterno) I have lost my confidence as a blogger. (By

Startup 52

Startup Valuation Management Investments 52

The Irrelevant Investor

JULY 15, 2021

A billion-dollar valuation for a private company used to be so special that they had a special name for it. There were 390 mega-rounds in Q2, more than all the $100 million deals done in 2017. Median valuations at every funding stage are at an all-time high, confirming what Keith Rabois said about VC funds lacking pricing discipline.

Valuation 52

Valuation Banking Marketing Marketing 52

Trade Brains

OCTOBER 17, 2023

Nifty 50 first hit 10,000 on July 26, 2017, and it took years to double that number. Amid all the noise surrounding geopolitical issues, global valuations, and FII selloff, the Nifty bulls might be feeling a bit clueless about their next moves. 20,000 is not just a number; but happiness for many. on July 20 of this year.

Investing 59

Investing Investments Numbers Valuation 59

Brown Advisory

FEBRUARY 15, 2019

But the drop in valuations experienced at year’s end, alongside higher bond yields, offer a foundation for better long-term return expectations across most asset classes. This is also a fitting moment to review the intersection of risk and valuation. Entering 2019, we face rising economic, political and market risks. In non-U.S.

Valuation 52

Valuation Clients Portfolio Assets 52

The Irrelevant Investor

NOVEMBER 19, 2017

By Stacy Cowley and Jessica Silver-Greenberg Everyone has an itch By Craig Shapiro We would wager that few other arguments have the power to turn off the critical thinking elements of our brain like valuation. By Morgan Housel A net worth of $3,582 would put you in the wealthiest half of world citizens in 2017.

Valuation 52

Valuation Investments Investing Management 52

Brown Advisory

DECEMBER 14, 2017

Balancing Act | Pulling the FANGs Apart achen Thu, 12/14/2017 - 11:34 The “FANG” companies—Facebook, Amazon, Netflix and Google—have been a dominant investment story in recent years. All of these companies have generated attractive returns in recent years, and in 2017 in particular. Through Nov.

Valuation 52

Valuation Advertising Clients Investments 52

Brown Advisory

DECEMBER 14, 2017

Thu, 12/14/2017 - 11:34. All of these companies have generated attractive returns in recent years, and in 2017 in particular. Their fear is bolstered by historical precedent: In the 1960s and 1970s, the “Nifty Fifty” ran up to extremely high valuations, and many performed quite poorly during the 1970s bear market. Through Nov.

Valuation 52

Valuation Advertising Clients Investments 52

The Irrelevant Investor

MARCH 27, 2021

Sacconaghi notes that 25 tech stocks were in this bucket in 2017. Comparing Snowflake's valuation today to Amazon at the IPO is Apples to Oranges. And this is why investors are willing to pay what would appear to be ridiculous valuations by historical standards. Today there are 366. Amazon is the outlier of this group.

Valuation 52

Valuation Sales Advertising Numbers 52

Validea

OCTOBER 5, 2022

Two weeks ago, I wrote an article where I looked at the valuation of the median stock and how it has changed over time. 12/29/2017 2.9% 12/29/2017 49.5% By Jack Forehand, CFA, CFP® ( @practicalquant ) —. Year End Date Negative Earner Percentage 12/30/2005 1.1% 12/29/2006 1.2% 12/31/2007 1.0% 12/31/2008 2.1% 12/31/2009 4.9%

CFP 59

CFP Valuation Economy Assets 59

Brown Advisory

MAY 31, 2017

EUROPEAN RE-ENTRY: Why We Are Shifting Portfolios Toward European Stocks achen Thu, 06/01/2017 - 02:47 Asset allocation—at least for us—is an exercise in nuance. Most investors look at price-to-earnings (P/E) ratios as their gauge of stock valuation, and by this metric, the disparity between Europe and the U.S. is much clearer.

Portfolio 52

Portfolio Asset Allocation Valuation Economics 52

Brown Advisory

MAY 31, 2017

Thu, 06/01/2017 - 02:47. Throughout this period, we often saw windows in which we believed that European valuations were more attractive, but we were cautious due to Europe’s high debt levels and struggles to generate economic growth. stocks as of the end of 2015 on an EV/EBITDA basis; that gap widened to 20% by the end of April 2017.

Portfolio 52

Portfolio Asset Allocation Valuation Economics 52

Brown Advisory

APRIL 18, 2018

Balancing Act | For Good Measure: How We Value Global Leaders achen Wed, 04/18/2018 - 11:03 Valuation is a critical component of active investment management, yet many investors restrict themselves to a very narrow view of valuation by focusing on simple metrics like the price/earnings (P/E) ratio.

Valuation 52

Valuation Portfolio Sales Investments 52

Brown Advisory

APRIL 18, 2018

Valuation is a critical component of active investment management, yet many investors restrict themselves to a very narrow view of valuation by focusing on simple metrics like the price/earnings (P/E) ratio. This makes ratios like the P/E ratio dangerous as a valuation tool. Wed, 04/18/2018 - 11:03.

Valuation 52

Valuation Portfolio Sales Investments 52

Walkner Condon Financial Advisors

MAY 1, 2023

According to Aileen Lee of Cowboy Ventures, only 0.14% of tech startups reach “unicorn” status (billion dollar market valuation), and of those, only 39% IPO or get acquired. The fair market value of the stock, based on its 409(a) valuation , is worth $20/share. That is about 1 out of every 2,000 startups.

Taxes 98

Taxes Startup Planning Valuation 98

Brown Advisory

MARCH 30, 2018

Throughout 2017, our meetings and conversations with clients very frequently focused on the topic of risk. Economic growth and corporate earnings across the world improved notably throughout 2017, led by an acceleration in Europe, a rebound in emerging markets and improved sentiment in some U.S. Fri, 03/30/2018 - 11:57.

Asset Allocation 52

Asset Allocation Portfolio Assets Valuation 52

Trade Brains

JULY 11, 2022

2017 2018 2019 2020 2021. 2017 2018 2019 2020 2021. Emami Vs Dabur India – Valuation of the company. The PE ratio of a company shows the valuation of a company and is used for comparison with its peers. Valuation Parameter. Both the companies have seen a rise in their net profit in the last two years.

Valuation 52

Valuation Healthcare Medicine Retail 52

Brown Advisory

MAY 3, 2018

Whether rates are rising or falling, we manage risk using the same consistent process: We look for bonds with attractive valuation relative to our view of their potential cash flows. For one, we reduced our exposure to shorter-duration fixed-rate municipals, as their valuations grew increasingly unattractive last year. (We

Taxes 52

Taxes Portfolio Valuation Clients 52

Brown Advisory

MAY 3, 2018

Whether rates are rising or falling, we manage risk using the same consistent process: We look for bonds with attractive valuation relative to our view of their potential cash flows. For one, we reduced our exposure to shorter-duration fixed-rate municipals, as their valuations grew increasingly unattractive last year. (We

Taxes 52

Taxes Portfolio Valuation Clients 52

The Irrelevant Investor

JANUARY 5, 2021

Investor enthusiasm, coupled with high valuations, has preceded all major market bubbles. stocks are based on traditional valuation metrics, via Michael Cembalest. In the decade since 2009, there have been regular claims that we were back in a bubble, but the FCF yield suggested valuation was not stretched.

Valuation 52

Valuation Assets Marketing Marketing 52

Brown Advisory

NOVEMBER 1, 2019

This year, two factors will be important considerations in our year-end planning work: 1) current market dynamics (specifically, ongoing market volatility, low interest rates and a flat yield curve), and 2) the 2017 tax overhaul and our ongoing integration of new tax rules into clients’ long-term plans. Non-Taxable Gifts.

Planning 52

Planning Taxes Clients Assets 52

Brown Advisory

APRIL 1, 2020

These planning opportunities are driven primarily by four factors: Materially lower market values for publicly traded securities, and a likely downturn in valuations of real estate and other illiquid assets. to a grantor trust) similarly remain attractive because of low interest rates and potentially low valuations.

Strategic Planning 52

Strategic Planning Planning Marketing Marketing 52