Aswath Damodaran
Fascinated by finance & markets and like writing about them, but teaching is my passion.
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Staying with my life cycle theme, the most difficult part to navigate for both managers and investors is the "growing old" phase. I look at Intel and Walgreens facing that choice,...
I will be teaching my valuation and corporate finance classes at NYU's Stern School of Business in the spring, and as always, you are welcome to join. You can virtually take the cl...
The Equity risk premium (ERP) is not an "esoteric concept" but underlies almost everything we do as investors, often implicitly. I try to clarify what it is, why it matters and to...
My fifth data update for 2023 looks at profitability, a business quality that seemed to have lost its resonance in a decade that gave top billing to growth and user numbers, but wa...
I got distracted by Tesla's earnings report & the Adani Group's travails, but I am back to my promised data updates for 2022. In my fourth data update, I look at how risk varies ac...
The India Rising story posits that the next decade will see India displace China as the growth engine of the world. That may or may not be true, but the Hindenburg short selling th...
I last valued Tesla in November 2021, just as its stock price was peaking, and found it overvalued by more than 50%. (Numbers below are before 3:1 stock split) The stock has droppe...
A market correction focuses investor minds, and this one is no exception, as talk has turned from scaling up to profitability and from earnings to free cash flows. In this post, I...
Inflation has been the big story of 2022, driving markets and pushing central banks and policy makers to react. I update my posts from earlier this year on inflation to reflect wha...
Just over a year ago, I valued Zomato, the Indian food-delivery company, at ₹41/share, ahead of its IPO, and argued that it was joint bet on Indian growth, Indian eating habits and...
As a follow up to my last post on inflation, where I pointed to its effect on asset classes (bad for financial assets, better for real assets), I look at its disparate effects acro...
Russia's invasion of Ukraine has let loose the dogs of war. While it is the human toll that is (and should be) front and center, I focus in this post on the economic and market eff...