Surveys, papers and books on the ERP

Some interesting papers on the ERP: Market Risk Premium used in 56 countries in 2011: a survey with 6,014 answers Interesting not least because it is a survey of required Equity Risk Premiums (or Market Risk Premiums) rather than expected. The rates are higher than I use, although this is also useful information when attempting …

Have all the World Cup expenses been counted?

Airports Company SA, “ACSA”  now has some of the highest fees  in the world. Apparently they need to fund the huge “investment expenditure” incurred  in upgrading on our airports recently for the World Cup. This begs the questions: What business plans were used in determining investment on our airports? How did actual experience compare to …

SA Bond Market – antiquated or efficient?

[Update: for some incomprehensible reason the embedded video clips below only work on YouTube. Click the image for a link to the YouTube page] Andrew Canter (of Future Growth) makes some strong statements about the “phone and dealer” approach to the South African bond market. When one of the arguments against Andrew’s preferred centralised, electronic …

Fixed Interest is a viable asset class

I heard someone talking on Classic Business tonight. Pity I didn’t catch his name so I can avoid his advice in future. He was saying that he doesn’t see the point in investing in debt instruments.  He explained that the return is low and the risk high since if the company gets into trouble, you’ll …