The total market value of a company can be divided into two parts: the fraction of due to

Read More

Professor Bradford Cornell 

Read More

[vc_row css=”.vc_custom_1553715282766{margin-top: 100px !important;margin-bottom: 100px !important;}”][vc_column width=”1/2″][vc_single_image image=”1205″ img_size=”full”][/vc_column][vc_column width=”1/2″][vc_column_text]Empirical studies routinely find that value stocks, defined as those with high book values

Read More

            Empirical studies routinely find that value stocks, defined as those with high book values compared to market value, outperform growth stocks with

Read More

Tesla attracted such attention with its back to back earnings announcement and the Musk tweet that we wrote a short research paper analyzing

Read More

https://www.cornell-capital.com/wp-content/uploads/2018/08/An-Alternative-Hypothesis-to-Market-Efficiency.pdfhttps://www.cornell-capital.com/wp-content/uploads/2018/08/An-Alternative-Hypothesis-to-Market-Efficiency.pdf[vc_row][vc_column width=”1/2″][vc_single_image image=”1208″ img_size=”full”][/vc_column][vc_column width=”1/2″][vc_column_text] On rare occasions individual observations of stock price movements are sufficiently informative that interesting insight can be gained

Read More

      Often CEOs complain that volatility in stock prices, allegedly caused by investor focus on short-term performance, makes it difficult to manage

Read More

With regard to valuing companies, the 10-year real interest rate plays a key role.  It is foundation on which discounts rates are built

Read More

In the last post, I talked generally about competition, regulation and valuation, but did not offer any data to illustrate.  The valuation data,

Read More

AT&T has a market capitalization of 196 billion.  Facebook book has a market capitalization more the 2.5 times greater.  Why the difference?  Both

Read More