Tom Spencer

NOVEMBER 14, 2011

In contrast, economies of scope is a lesser known concept particularly relevant to small and medium sized enterprises (SMEs) that may not have access to large markets or the ability to produce at scale. Economies of scope have been found to exist in a range of industries including banking, publishing, distribution, and telecommunications.

Cash Flow 117

Cash Flow Consulting Productivity Telecommunications 117

MishTalk

DECEMBER 11, 2014

Energy production is extremely capital intense, and often accompanied by negative free cash flow. Since early 2010, energy producers have raised $550 billion of new bonds and loans as the Federal Reserve held borrowing costs near zero, according to Deutsche Bank AG. markets as unprecedented Fed stimulus fuels a hunt for yield.

Energy 78

Energy Marketing Benchmarking Cash Flow 78

MishTalk

MARCH 21, 2014

We have described in detail over the past two years how we believe China’s twin excesses (excessive investment funded by excessive debt) will inevitably unwind, causing a substantial slowdown in China’s economy, significantly below market expectations. Gross Domestic Product (GDP) growth to 5.0% over the next two years.

Finance 75

Finance Cash Flow Banking Government 75

Harvard Business

SEPTEMBER 16, 2014

In the past, a community bank would have a relationship with the businesses on Main Street, and when it came time for a loan, there would be a wealth of informal information to augment the loan application. And they are allowing new sources of capital such as peer-to-peer lending to replace traditional bank capital.

Small Business 71

Small Business Data Cash Flow Banking 71

MishTalk

DECEMBER 2, 2013

Statistics from the Bank of Spain show that household credit fell 5.2% If we look at the evolution of the cash flow of borrowed money, the net change in assets is a decrease is 4.7%. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.

Cash Flow 71

Cash Flow Banking Report Management 71

Harvard Business

JUNE 28, 2016

Also, as we explained in an earlier article , we believe that being an established CEO of a small firm involves much less angst than being a senior member of a consulting, investment banking, or private equity firm. So, we begin by assuming that the traditional path offers cash compensation equal to the average starting salary. (It

Small Business 71

Small Business Cash Flow Consulting Banking 71

Tom Spencer

MAY 25, 2019

There are a couple of reasons for this: Asset managers can see cash flow and earnings fluctuate wildly with markets. If there is a financial crisis, the stock market falls by half and the asset manager’s performance is in line with the stock market, they now make $500 million.

Cash Flow 60

Cash Flow Management Metrics Benchmarking 60

MishTalk

NOVEMBER 10, 2014

Guest Post from Peak Prosperity In an exclusive interview of John Hussman by Peak Prosperity''s Chris Martenson, Hussman says Stock Market Is Overvalued By 100%. Chris Martenson : John Hussman is highly respected for his prodigious use of data and adherence to what it tells him about the state of the financial markets.

Financial 74

Financial Interviews Marketing Cash Flow 74

Successful Independent Consulting

MAY 15, 2017

Set up a business bank account separate from your personal accounts to make tax preparation easier. If you're doing business as anything other than a sole proprietor the bank will need to see your business documentation from the state. Determine your marketing and positioning (how you “go to market”).

Consulting 150

Consulting Insurance Insurance Cash Flow 150

MishTalk

MAY 14, 2014

China’s real estate market correction — some economists are even calling it the popping of a bubble — is partly the result of a deliberate decision by the country’s leaders in Beijing. Retail sales also grew more slowly than expected in April, and the furniture market stalled as fewer families moved into new homes.

Real Estate 77

Real Estate Banking Construction Cash Flow 77

Tom Spencer

OCTOBER 3, 2020

Governments and their central banks couldn’t print and circulate more paper currency without mining more gold and increasing their reserves. This approach seeks to benefit from the large free cash flows that successful gold mining companies are likely to generate during a gold bull market. Gold ETFs. Investment risks.

Cash Flow 88

Cash Flow Government Banking Financial 88

MishTalk

AUGUST 7, 2013

Minyanville Business and Market News. China Financial Markets. Market Oracle. Market Ticker. Real Clear Markets. Fed Balance Sheet vs. Stock Market; Will QE Cause Inflation? Fed Balance Sheet vs. Stock Market. Sitka Pacific. Recent Posts. Featured Links. Abolish The Fed Sign the Petition. Big Picture.

Balance Sheet 74

Balance Sheet Marketing Real Estate Financial 74

Martinka Consulting

JULY 2, 2015

The bottom line is someone has to run the company and whether it’s the owner or a hired gun they deserve to be paid a fair market salary for that work. Banks factor in a salary figure before they determine cash flow for debt coverage. The post Fraud or Just Marketing appeared first on Martinka Consulting.

Marketing 40

Marketing Cash Flow Insurance Insurance 40

Harvard Business

MAY 28, 2018

Then a new CFO joined the company: Masashi Oka, a financial industry veteran who had played a key role in transforming Mitsubishi UFJ Financial Group-owned Union Bank in the US. Oka had found feedback from US regulators very helpful in his efforts to revive Union Bank and saw an opportunity to do something similar at Nikon.

Company 101

Company Balance Sheet Cash Flow Interviews 101

Tom Spencer

OCTOBER 15, 2021

Growth of the Live Sports Betting Market. As a result, the implementation of 5G is likely to lead to growth in the live sports betting market. Implications of 5G for Online Sports Betting. Slow and unreliable networks have traditionally been an issue that deterred sports bettors from engaging in in-play or live betting. Conclusion.

Sports 78

Sports Wireless Cash Flow Tools 78

Martinka Consulting

NOVEMBER 8, 2014

While both of the above deal with middle market deals, and while middle market deals have different driving forces (think Private Equity Groups with too much money chasing too few deals), the above does carry over to smaller deals. Bank debt = $4,000,000. ” The above examples have the bank lending either 4X FCF or 3.2X

Cash Flow 40

Cash Flow Banking Groups Examples 40

Tom Spencer

NOVEMBER 17, 2018

This is because the initial trigger for the crisis was reliance by major banks, particularly those in the United States, on mortgage backed securities as collateral. The senior slices of a CDO were considered to be safer because they had first priority on cash flows received from the pool of mortgages in the event of default.

Financial 60

Financial Banking Balance Sheet Cash Flow 60

Harvard Business

JUNE 8, 2018

The market caps of just four companies, Apple, Alphabet, Amazon, and Microsoft, now exceed $3 trillion. Their combined assets of $944 billion are an order of magnitude lower than the combined assets of $7,700 billion of the largest 3,177 companies in 1986, when the aggregate market capitalization reached $3 trillion for the first time.

Financial 75

Financial Report Cash Flow Metrics 75

Tom Spencer

MARCH 17, 2023

One of the key examples Lewis highlights in his book was the practice among large investment banks of creating and selling complex financial products known as mortgage-backed securities. As a result, the value of many of these securities plummeted to zero when the housing market crashed.

Ethics 78

Ethics Financial Cash Flow Real Estate 78

Martinka Consulting

APRIL 26, 2019

Second question: is there similar activity with larger companies, small, mid-sized, and lower middle market firms? Barlow research – Two-thirds of lower middle-market business owners are expected to retire. Sixty percent of them delayed their exit by at least two years, as per a study by Sun Trust Bank. And guess what?

Marketing 40

Marketing PricewaterhouseCoopers Cash Flow Banking 40

Harvard Business

AUGUST 24, 2017

A nearly $150 million settlement is pending for the fake-account scandal that roiled the bank last year, and a new scandal has emerged: Recently it has been alleged that thousands of customers were signed up for insurance without their knowledge. ’s largest banks? What explains the divergence in the fortunes of two of the U.S.’s

Pharmaceuticals 72

Pharmaceuticals Intellectual Property Training Training 72

MishTalk

AUGUST 22, 2014

Saxo bank chief economist Steen Jakobsen thinks so. Market remains overexposed to US dollar and US equities relative to norm – Furthermore with mid-term election on November 4th the coming budget talks will have a hard time producing convincing and long-term results needed. Is it time to short the dollar? Via email from Steen.

Cash Flow 72

Cash Flow Course Travel Marketing 72

Martinka Consulting

OCTOBER 3, 2013

Pre-Great Recession - banks competed for business acquisition loans and I remember one client’s summary that had eight banks, eight approvals, seven banks using the SBA loan guarantee program (called SBA loans from now on) and my client took the non-SBA offer. Buyers, banks and especially sellers! Who benefits?

Cash Flow 40

Cash Flow Banking Finance Government 40

Seth Godin Blog

APRIL 4, 2023

If you buy a property for 20% down, with the bank financing the rest, and it goes up in value by just 10%, your profit is 50%. (I’ll If the weather is better than anyone expects and the markets are just right, you do really well for a season. Debt is a financial miracle. I’ll wait while you do the math.)

Cash Flow 42

Cash Flow Banking Finance Financial 42

BCG

DECEMBER 15, 2016

Yet that income stream is weakening, as low-risk investment yields dip toward 0% and central banks continue to drain the bond markets. The industry’s overall business growth has stalled, and investment income has become a critical mainstay. Corporate life becomes a series of zero-sum battles in a war with no winners.

Insurance 40

Insurance Insurance Cash Flow Management 40

CaseInterview.com

SEPTEMBER 5, 2020

When he cites the idea of market niches as a way to build a durable competitive advantage, he borrows that concept from the field of ecology. If your end of month cash in the bank differs from what you thought it would be, that means the mental model of your operating cash flow isn’t accurate.

Case Interview 64

Case Interview Cash Flow Interviews Sales 64

MishTalk

JULY 11, 2014

The question stems from lengthy (256 page PDF) from the BIS Annual Report (Bank for International Settlements) that stated among other things " The only source of lasting prosperity is a stronger supply side. The BIS slam, coupled with a recent stock market selloff, brought up debate on a " controlled collapse ".

Balance Sheet 74

Balance Sheet Financial Banking Policies 74

MishTalk

NOVEMBER 25, 2013

Though I don’t believe that markets follow math, it’s striking how closely market action in recent years has followed a “log-periodic bubble” as described by Didier Sornette (see Increasingly Immediate Impulses to Buy the Dip ). I have been prepared to underperform for the fun of being proved right when markets crash.

Cash Flow 69

Cash Flow Trends Policies Marketing 69

Harvard Business

NOVEMBER 23, 2016

To better understand businesses’ financial preparation for and management of disasters, my colleagues and I partnered with the Federal Reserve Bank of New York to survey firms in the New York area one year after Hurricane Sandy. Our data include about 950 businesses. Challenge risk financing conventions.

Insurance 70

Insurance Insurance Small Business Finance 70

Harvard Business

AUGUST 3, 2018

On June 25, 2018, Facebook lost market capitalization of more than $100 billion in just two hours of trading after it announced its quarterly performance, despite exceeding analysts’ earnings forecasts. In a market like social media, a firm’s success can depend on the winner-take-all profits that come from market leadership.).

Financial 70

Financial Report Company Metrics 70

Martinka Consulting

MARCH 7, 2015

I wrote last year about the pricing of middle-market companies and an article in the Zachary Scott newsletter titled “8 is the new 6″ (referring to multiples of EBITDA on middle-market deals). Now what adds some sanity to this are the banks. And speaking of banks, back to our sanity test. 1 ratio.

Small Business 40

Small Business Cash Flow Banking Sales 40

Martinka Consulting

APRIL 21, 2015

In the past I’ve written about how low interest rates and bank using the SBA guarantee program and its low down payment requirements plus a 10-year amortization have caused buyers to pay more for businesses than they would have years ago (because their payments are the same or less). Many banks will go as low as 1.25:1

Cash Flow 40

Cash Flow Benchmarking Banking Sales 40

Martinka Consulting

MARCH 30, 2020

I won’t be disingenuous by marketing services when most of us are in survival mode so I will make all readers of this newsletter an offer: If you have questions about what to do, how to handle things, need a sounding board, or simply someone to vent with call me for free telephone counsel. Whatever your business is, be doing marketing.

Small Business 40

Small Business Balance Sheet Cash Flow Banking 40

Harvard Business

SEPTEMBER 15, 2017

A comprehensive survey of financial executives concluded that “repurchases are made out of the residual cash flow after investment spending.” The evidence suggests this view is more accurate. ” Other studies find that CEOs repurchase more stock when growth opportunities are poor , and when they have excess capital.

Cash Flow 71

Cash Flow Finance Government Study 71

MishTalk

MARCH 27, 2015

They briefly went negative out to 15 years in the wake of the sudden removal of the Swiss National Bank peg to the euro back on January 13 as shown in the following chart. per cent in an effort to prevent a wave of cash flowing into Switzerland in anticipation of the Swiss franc’s rise in value. “

Cash Flow 28

Cash Flow Banking Policies Government 28

Martinka Consulting

OCTOBER 27, 2017

In the Discounted Future Cash Flow method profits are projected (same as the first issue) and discounted back to a present value. For reference, a check of major bank PE ratios shows they are at about 15). For small businesses, it’s 3-5 times profit (after fair market owner compensation). Conclusion.

ROI 40

ROI Cash Flow Methodologies Small Business 40

Martinka Consulting

JUNE 18, 2021

You must use free cash flow to truly calculate ROI. Financial diligence – we agree a Quality of Earnings report is not usually necessary for small business deals (those that fit in the SBA loan range) but you must get a “proof of cash” from a CPA firm. Seller’s market – first, it’s always a seller’s market for good businesses.

ROI 40

ROI Cash Flow Small Business Financial 40