Aswath Damodaran: Valuing A Commodity Business

Hello 1, ​ please check out the top stories from ValueWalk below! = [My No. 1 Pot Stock in America (It's $3 and Could Go Sky-High)](=) [This company is on the verge of growing from 19 stores to as many as 136 stores nationwide. 

Sales look to grow to $612 million, eight times bigger than Canada's top pot stock (which trades for $64).
](=) [Aswath Damodaran: Valuing A Commodity Business]() Placing a value on the equity of cyclical and commodity companies is a challenging process not least because growth often comes from movements in the economic cycle. The primary risk for cyclical firms is the health of the economy, and for commodity companies, the primary risk is commodity price movements. Unfortunately, these risks can stay […] [Global Return Asset Management June 2019 Commentary: Managing Risks]() Global Return Asset Management commentary for the month ended June 30, 2019. Q2 hedge fund letters, conference, scoops etc Dear Friends and Partners, In June we generated a net return of 6.6%, bringing our year-to-date net return to 27%.1 We ended the month with 22% of assets in Cash and a net market exposure of […] [Nelson Wu: Lessons Of Wisdom From Investor Letters]( ValueWalk's Raul Panganiban interviews Nelson Wu, the founder of OpenSquare Capital. In this part, Nelson discusses focusing on growth factors, his favorite books, taking away nuggets of kernels of wisdom from his influences, writing investor letters, and who his mentors are. See part 1 here. See part 2 here. See [T.Rowe Price, Lazard And More: Is There Value In EM – 2019 Ben Graham Conference]( Notes from the Is There Value in EM / China Panel featuring Seafarer Capital Partners' Paul Espinosa, Lazard Asset Management's James Donald, T.Rowe Price Associates' Charles Knudsen, Matthews Asia's Sherwood Zhang and Adamas Asset Management's Paul Heffner, and also Ted Aronson's keynote presentation from the 2019 Ben Graham VI Annual Conference, which took place on Wednesday, June 19. […] [This Short-Biased Fund Hit First-Half Returns Out Of The Park]( Most hedge funds have been having a much better year this year after a difficult end of 2018, but a few funds are having an exceptionally good year. SORRY! This content is exclusively for paying members. Access all of our content on including years of timeless investment news and in depth analysis for only a […] [How To Invest In A Volatile Market Part 3: Diversifying In The Risk Pyramid](=) This is part three of a series on investing in a volatile market. Click here for part one on creating a financial roadmap and click here for part two on evaluating your risk tolerance. Anyone who has spent any time planning their . . . SORRY! This content is exclusively for paying members. Access all […] [Crypto Derivatives Market Fueled By Bitcoin Rally – Will End Badly]( Whitney Tilson’s email to investors discussing the IBM value trap; Are Analyst Trade Ideas Valuable?; Bitcoin Rally Fuels Market in Crypto Derivatives; My theory on where Jeffrey Epstein and Ghislaine Maxwell got their BIG money. 1) IBM (IBM) reported yet […] The post [Crypto Derivatives Market Fueled By Bitcoin Rally – Will End Badly]( appeared first on [ValueWalk](=). [The 8 Ways Urban Demographics Are Changing]() Cities are what keep the global economic machine humming. Q1 hedge fund letters, conference, scoops etc [Facebook’s Dual-Class Share Structure Locks Activists Out](=) An increasing amount of attention is being paid to Facebook's dual-class share structure, which now puts complete control in the hands of management. The most recent proxy season highlights the impact of this structure as data collected by the Manhattan Institute reveals that not a single one of the proposals brought by activists was passed. […] [Government Debt Has Driven Total Debt Growth In The US]() Since 2001, US household debt as a % of GDP has remained at about the same level Corporate debt has increased a bit While gov’t debt as a % of GDP has doubled since 2001 [Q2 2019 Hedge Fund Letters: Einhorn, Carlson, Canyon, Loeb And Much More [UPDATED 7/18 22:49 EST]](=) This post was created on 6/30/2019 stay tuned for updates up to several times a day! As always we REALLY really appreciate legal letters and tips on hedge funds from our readers regardless of fund size. How is this different than SecurityAnalysis? We have a lot more (on funds both large and small that few […] [Opioid-Related Litigation Could Force Drug Makers Into Bankruptcy]() The U.S. opioid crisis and the avalanche of lawsuits it has produced may lead numerous pharmaceutical companies to seek bankruptcy relief, perhaps rivaling the asbestos bankruptcies of the late 1990s and early 2000s. New legal actions are being filed against […] The post [Opioid-Related Litigation Could Force Drug Makers Into Bankruptcy]() appeared first on [ValueWalk](=). [Damage Is Done. Sears Sharp Decline Dims Hopes For Health](=) Sears Holdings (OTCMKTS:SHLWQ) may have once been where America shopped but no longer. Its catalogue days are long gone having extinguished in 1993. It sold its most iconic go-to brands. At its peak in 2006, the Sears Kmart conglomerate looked […] The post [Damage Is Done. Sears Sharp Decline Dims Hopes For Health](=) appeared first on [ValueWalk](=). = [My No. 1 Pot Stock in America (It's $3 and Could Go Sky-High)](=) [This company is on the verge of growing from 19 stores to as many as 136 stores nationwide. 

Sales look to grow to $612 million, eight times bigger than Canada's top pot stock (which trades for $64).
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