historians.social is one of the many independent Mastodon servers you can use to participate in the fediverse.
Historians.social is open to all who are interested in history.

Server stats:

302
active users

#valuation

0 posts0 participants0 posts today

A considerably more encompassing #valuation tool, and the metric currently making history, is the S&P 500's Shiller P/E ratio, also referred to as the cyclically adjusted P/E ratio or #CAPERatio. The #Shiller P/E accounts for average inflation-adjusted EPS from the previous 10 years, which smooths out the impact of shock events and allows for apples-to-apples valuation comparisons looking back more than 150 years.
finance.yahoo.com/news/stock-m
#Invsting
#Premarket

Yahoo Finance · The Stock Market Is Doing Something Witnessed Only 3 Times in 153 Years -- and History Is Very Clear What Happens NextBy Sean Williams, The Motley Fool
Continued thread

"The ‘science of finance’ is first and foremost a collective ethos. Its real achievement is not objective discovery but ethical articulation. […] It fixes the underlying terrain, it shows them the proper path to follow, and it compels them to stay on track. Without this anchor, all capitalists — whether they are small, anonymous day traders, legendary investors such as Warren Buffet, or professional fund managers like Bill Gross — would be utterly lost.

"Finance theory establishes the elementary particles of capitalization and the boundaries of accumulation. It gives capitalists the basic building blocks of investment; it tells them how to quantify these entities as numerical ‘variables’; and it provides them with a universal algorithm that reduces these variables into the single magnitude of present value."

(Nitzan and Bichler, 2009) 🧶

Replied in thread

Ursula M. Franklin on @economics, #accountancy and #bookkeeping:

"In order to make socially responsible decisions, a community requires three sets of books. One is the customary dollars-and-cents book […]. The second book relates to people and social impacts. It catalogues the human and community gains and losses as faithfully as the ongoing financial gains and losses documented in the first book. In the third book, environmental accounting is recorded."

#TIL the "value" of the slaves one of my relatives "owned" back in 1857 and now I'm sick to my stomach. 😭

(I was looking over some of my family's ancestry docs. It's one thing to know your family tree includes slave owners, which I already did. It's quite another to discover some of the nuance of what that actually meant.)

#Ancestry #Genealogy #Slaves #Slave #Race #Black #BlackAndWhite #LastWillAndTestament #CivilWar #Valuation #Value #Property #Freedom

Continued thread

You may be wondering just whence that staggering #valuation arises,then. There are a couple factors at play—namely, rich friends & retail-level suckers.
…As a #ShellCompany established w/the express purpose of gathering #investments & absorbing them into the minimally operational #TrumpMedia, #DWAC curried investments from all manner of private institutions,most significantly #SIG… meaning #JeffYass, the #Republican #megadonor who’s been floated as potential #treasury sec if #Trump is reelected.

Replied in thread

"The inflation rate signals instability in the social order. That instability, it seems, translates into capitalists’ fears about the future. When the price system is more unstable, capitalists discount present income more steeply."

in "The Ritual of Capitalization" by @blair_fix: economicsfromthetopdown.com/20

Economics from the Top Down · The Ritual of Capitalization – Economics from the Top DownI take a detailed look at the quantitative ritual that orders our social world.

The empirical object of the paper is blood used in cell therapy that variously go through valuation processes as gifts, commodities, & assets. My analogy-addled brain just keeps substituting in scholarly publications for blood to see if the analysis still holds.

#Valuation #ScholarlyPublishing

Delvenne, Pierre, Hadrien Macq, & Celine Parotte, "Going with the Flow: Moving Cells and Changing Values in Biomedical Practice," in Science, Technology, & Human Values

journals.sagepub.com/doi/abs/1

Continued thread

#NYAG Solomon asked if she ever provided any #asset #valuation information for #Trump's financial statements.
Show

#Ivanka: “Not that I recall.”

NYAG: "Did you ever review [the financial statements] before they were finalized?"

Ivanka: "I don't recall that.”

NYAG turned to a potential 2012 refinancing of Trump's high rise in #Chicago. An email is displayed in which #DeutscheBank extends an offer for the deal.

#legal#law#civil
Continued thread

#NYAG moved on to #MarALago 2014, & #Trump's #valuation of the club, which was valued at ~$2B for that year.

Trump: “I had no mortgage on Mar-a-Lago, there's no debt, zero.”

NYAG showed Trump the deed, which said Trump intended to "forever extinguish" the right to use Mar-a-Lago as anything other than a club. Trump however, valued it as if the land were unrestricted.

NYAG pointed to the language describing it as an “exclusive private club."

Asked if that was true, Trump said: "Yes."

Continued thread

#NYAG asserted #Trump's ~2016 #valuation of #SevenSprings for $291M was inflated. A #CushmanWakefield Dec 1, 2015 #valuation of the whole property (not just the easement) was $56.5M.

NYAG directly asked Eric to concede that the part of his video deposition when he stated, “I really haven't been involved in appraisal work on the property” was inaccurate:

"Will you concede that your #testimony was incorrect, yes or no?"

#EricTrump: "I don't focus on appraisals between a law firm & Cushman”

Continued thread

#NYAG showed #EricTrump’s email exchange w/ #CushmanWakefield appraiser David McArdle, who testified earlier (attached).

(This is also indirectly addressed in Eric’s video deposition where he claimed he didn’t know McArdle 🙄)

NYAG asked Eric if he now agreed that the Cushman 2014 #valuation of #SevenSprings was disregarded for the purpose of (to bolster) #Trump's #SFC.

Eric: "No, the exercises are apples & oranges, one has nothing to do w/the other.”

Continued thread

#NYAG shows an Aug 20 2012 email in which #JeffMcConney tells Eric he's working on #Trump #SFCs & needs #valuation info on #SevenSprings.

NYAG: "He's asking for your assistance in 2013”

#EricTrump: "Yes.” Eric adds he gave info on project statuses to McConney.

NYAG: "Mr. Trump it is an undeniable fact, is it not, that as of Dec 4, 2012... you did know that your father had an annual financial statement (which) was used to show your father's financial wherewithal?"

Eric: "it's just incorrect."

Continued thread

#NYAG lawyer Colleen Faherty specifically focused on the licensing developments on #Trump's #SFC (Statement of Financial Condition) from 2017, she asked #DonaldTrumpJr if he gave the accountants the $246M #valuation attached to the licensing deals.

NYAG: "Did you work on the statement of financial condition for June 30, 2017?"

Jr: "I did not. The accountants worked on it. That's what we paid them to do.”

#legal#law#civil
Continued thread

Questioning turns to the #valuation of #Trump's triplex, a calculation that relied on the square footage.

In rapid-fire questioning, Solomon goes year by year, pressing #Weisselberg about his assumptions of the square footage of the #TrumpTower triplex.

Weisselberg testifies that he learned that his assumption was wrong.

Then, Weisselberg claims not to recall being put on notice that 30K sq ft number was wrong.