Efpa EFP? EFA? ESG? Financial Advisor “Se riuscirai a costruire il mondo che desideri, potrai svegliartici dentro ogni mattina. A patto che sia credibile”
It’s returns (on capital) that matter ??? “The market value of equities, whether public or private, represents a range of assumptions about future returns on capital. When profit forecasts change, market values adjust accordingly. The adjustment can be quick in public markets or slow in private ones, but they’re inevitable. Looking back at the remarkable period of wealth accumulation enjoyed by investors since the end of the global financial crisis, the catalyst was significant net income growth by companies regardless of region or style. While some materially outearned others, such as US large-cap growth companies, return on capital and stock prices were relatively high and faced minimal interruption. Leaving aside the COVID-lockdown-stimulus-driven quarters, a global savings glut and falling fixed investment helped drive years of economic stagnation that weighed on corporate revenues. Yet many businesses around the world were still able to generate remarkable return rates thanks in part to falling capital and operating costs. While that’s how we got here, what matters now is where we’re going. Since 2022, both capital and operating costs have risen.” ROBERT M. ALMEIDA #consulenzafinanziaria #educazionefinanziaria #economia #investimento #mercati #Assetmanagement #Markets #economy #china #investment #investors #finance #finanza #wealthmanagement #privatebanking #investing #investments #asia
Attended American University
5 个月Well said!