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I inflationens vågskål väger purjon tungt – Om börsgudar och koftor som kräver sina offer

Att människan väger lätt i mammons vågskål och att börsguden kräver sina offer i varje kris vet väl alla? Då såväl osäkerhet, som floskler florerar, ger det vem som helst anledning till oro. Akta dig dock för offerkoftan - den bjuder på värme, men invaggar dig i falsk trygghet.

2023-03-27 av Isa Hudd
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Balance sheet, debt leverage and risks

The balance sheet forms the third pillar for figure-based assessment of the company, with the other two being the income statement and the cash flow statement.

2023-03-27 av Erkki Vesola
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Veckans grafer #12

Hej och välkomna till Veckans grafer! Fed höjde, som väntat styrräntan till 5%. Fed påstår att inga räntesänkningar är att vänta, medan marknaden är av annan åsikt. Den förväntar sig att styrräntan ligger på omkring 4% vid årsskiftet.

2023-03-24 av Verneri Pulkkinen
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Interest rate peak at hand

In this post, we briefly discuss yesterday's Fed rate decision and the inflation picture. Then let's see how Europe seems to be dodging the energy crisis. No wonder that in our part of the world equities have been overperforming.

2023-03-23 av Verneri Pulkkinen
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Fed prioriterar kampen mot inflationsdraken – höjer 25 punkter vid kvällens räntebesked

Det är inte länge sedan marknaden räknade med en 50-punkters höjning från Fed i kväll. Att höjningen nu landade på 25 punkter, till intervallet 4,75-5,0 procent är dock precis i linje med de senaste dagarnas marknadsprissättning.

2023-03-22 av Marianne Palmu, Isa Hudd
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Should you buy the dip?

In this post, we talk about how the banking drama has continued with the collapse of Credit Suisse and increased intervention in the faltering sector and how all this affects the economy. Finally, a little reflection on whether to buy shares in the current dip.

2023-03-21 av Verneri Pulkkinen
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Green transition, part 2: emissions trading reform still veiled in mystery

The European Union's emissions trading system (EU ETS) is being renewed. The Council of Europe and the European Parliament reached a preliminary political consensus on the reforms at the end of last year. Here is why investors are likely to be interested in how the proposed reforms affect companies.

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Strategy and how to evaluate it

From an investor's perspective, the strategy provides an opportunity to examine the credibility of the plan to increase shareholder value.

2023-03-20 av Pauli Lohi
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Amazon and Costco in Sweden: A looming threat that Nordic retailers ignore at their peril

Changes that are small and happen gradually are the most difficult to respond to. The indirect threat is hard to measure. Thus responding is ignored as the threat of loss of business is barely noticeable in the business case excels.

2023-03-17 av Arhi Kivilahti
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Emergency Edition: Market in turmoil

In this second Emergency Edition of the week, I'll share a few graphs about the market turmoil, including the meltdown of Credit Suisse. Then we look at the latest inflation data, followed by a reflection on the current state of the market in the shadow of the banking crisis.

2023-03-16 av Verneri Pulkkinen
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Data sources and background work

Initiating analysis of a new company starts with understanding the business model. This is absolutely crucial, as it will help understand how changes in the operating environment affect the company and its figures later on.

2023-03-15 av Olli Vilppo
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Krisande banker och späckad makrokalender: Vad händer på marknaden just nu?

Makrospäckade och händelserika dagar. Varför skall man bry sig? Jo, av den enkla anledningen att börsen och marknaden dansar med i de svängar, till vilka makroekonomin nu anger takten.

2023-03-13 av Marianne Palmu, Isa Hudd
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A major bank collapses in the US

Stock markets have seen little wobble after the second-largest bank failure in history in the United States fell into the hands of the authorities. This event practically dominated the news over the weekend and that's why I decided to publish this post quickly on Monday as an exception. There's also a bit of talk in this post about share buybacks and China's economic ambitions.

2023-03-13 av Verneri Pulkkinen
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Fed keeps on running to and fro after data

Stock markets have been showing red colors as the Fed continues to tighten monetary policy more than expected. Stocks cannot escape an overly hot economy, while banks are taking huge hit from the inverted yield curve. In this post, let's talk about Fed's Powell's recent rant about the future direction of monetary policy. Before that, a quick look at how public savings covertly support economy the US, which will further complicate the Fed's tightening efforts.

2023-03-10 av Verneri Pulkkinen
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Special Edition: Long-term equity returns

In this Special Edition of What’s Up with Stonks, we will talk about long-term equity returns. This time the review also includes raw materials, which have often provided a good hedge against inflation.

2023-03-07 av Verneri Pulkkinen
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What does negative working capital mean and why is it a good thing?

Depending on the nature of the business, and hence the business model, working capital efficiency may be a very relevant component when examining the return on invested capital generated by the business, which ultimately determines whether the company creates value through its business.

2023-03-07 av Eemeli Oikarainen
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Forecasting

Forecasts have a legitimate place in a comprehensive company analysis and in determining the true value of a business.

2023-03-06 av Joonas Korkiakoski
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Veckans grafer #9

Hej och välkomna till Veckans grafer! Flera av de stora centralbankernas balansräkningar visar svällande tendenser, vilket stöder likviditeten på marknaden.

2023-03-03 av Verneri Pulkkinen
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Words of wisdom from Warren Buffett

In this post, we’ll briefly discuss China's economic recovery and then take a look at the latest inflation data for Europe. Finally, I’ll share a few words of wisdom from Buffett's recent investor letter.

2023-03-02 av Verneri Pulkkinen
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Inflation is not abating

In this post, we discuss how liquidity is improving globally. However, I’m bringing a new perspective to this familiar topic. Then we will look at the latest inflation data, which throws more ice on the disinflation camp. Finally, we will take a look at the valuation of the S&P 500, and how it’s hard to get a flattering picture of the index.

2023-02-28 av Verneri Pulkkinen