I was waiting for this piece & thank you for keeping promises! Superb piece & great methodology. I particularly like your EUR focus to which I can relate. I‘m glad and thankful to be able to build on that. Danke!
I'll share more details in other piece but basically with bottom-up analysis in credit you don't arrive at a bond value like equity but value if business risk and finacial risk are enough to pay your coupon etc. This for IG and HY.
For distressed bonds it's more complex (I rarely did it) but in that case you value the balance sheet of the company to arrive at a recovery value and only in this case you have a FV price of the bond.
I enjoy your content very much and I find it very useful for my work as well. I was wondering if I could ask you a few questions on your methodology. Thank you in advance.
Sí sono Italiano, grazie mille per la disponibilitá. Twitter non mi consente di mandarti un messaggio per primo, riesci a mandarmi un messaggio per iniziare la conversazione? Il mio nome é @BazzanoJacopo
Wow, that's a really great post, thanks for sharing your methodology!
I don't have any experience with bottom-up analysis in credit. What are the differences between valuing a stock from a credit perspective vs. when you try to value it from a stock-buying point of view?
It's a pleasure to know you liked it.
Stay tuned for the other parts.
I was waiting for this piece & thank you for keeping promises! Superb piece & great methodology. I particularly like your EUR focus to which I can relate. I‘m glad and thankful to be able to build on that. Danke!
Thanks!
I'll share more details in other piece but basically with bottom-up analysis in credit you don't arrive at a bond value like equity but value if business risk and finacial risk are enough to pay your coupon etc. This for IG and HY.
For distressed bonds it's more complex (I rarely did it) but in that case you value the balance sheet of the company to arrive at a recovery value and only in this case you have a FV price of the bond.
Good morning,
I enjoy your content very much and I find it very useful for my work as well. I was wondering if I could ask you a few questions on your methodology. Thank you in advance.
Ciao, sei Italiano? Scrivimi pure in private message su twitter senza problemi.
Sí sono Italiano, grazie mille per la disponibilitá. Twitter non mi consente di mandarti un messaggio per primo, riesci a mandarmi un messaggio per iniziare la conversazione? Il mio nome é @BazzanoJacopo
That One above Is not me.. don’t message other people and signal him
Really great post, thank you
Wow, that's a really great post, thanks for sharing your methodology!
I don't have any experience with bottom-up analysis in credit. What are the differences between valuing a stock from a credit perspective vs. when you try to value it from a stock-buying point of view?