There are any number of ways to define, or interpret, As with many definitions and interpretations, this can depend on context. For financial markets, which are multivariate and deep, the context and its drivers, the resulting definitions and interpretations, are like a mosaic — personal, social, geographical, political, historical…

Our favored valuation multiples have over time climbed up the income statement ladder, rung by rung, and, before long, we may transcend the income statement altogether.

We used to chart the P/E multiples back when, feeling as though earnings were a close enough cash flow proxy, which then was what…

Financial markets are sentiment markets, even as we feign to strip out the emotion from the or decision. It is a matter of degree, perhaps, and self-control, to stick with data, the practiced formula and its principles, the so-called fundamentals that are taught. Even in so doing— rigidly…

Dan Ramsden

Investment, finance, strategy, execution in the networked tech economy.

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