EBITDA, EBITA, or EBIT?
The article analyzes three profitability metrics: EBITDA, EBITA, and EBIT. It is published in the Financial Analysts Journal, Volume 82, Issue 3, 2026, pages 59-77.
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Valuation and Asset Pricing Latest Activity
Valuation methods, risk premia, and cost of capital: from Damodaran datasets to academic pricing models.
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Financial Analysts JournalAI Score1212
Financial Analysts JournalAI Score1717 In Memoriam: Martin Leibowitz's Contributions to the Financial Field
The Financial Analysts Journal, Volume 82, Issue 3 (Q3 2026), pages 5 to 14, published a tribute to Martin Leibowitz, reviewing his relevant contributions to the financial field. This content is a commemorative article recently released by the journal.
Read originalFinancial Analysts JournalAI Score2525 The Equity Premium Theory at Its Inception: Why E. L. Smith Failed to Perceive the Negative Impact of Deflation
Published in the Financial Analysts Journal, Vol. 82, No. 3, Q3 2026, pp. 43-58. This article explores the early development of equity premium theory, focusing on why E. L. Smith failed to perceive the negative impact of deflation.
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Aswath Damodaran：Musings on MarketsAI Score5555 SpaceX, OpenAI, and Anthropic: S&P 500 Inclusion Controversy and Investment Implications
NYU Professor Aswath Damodaran analyzes whether SpaceX, OpenAI, and Anthropic should be included in the S&P 500 after their IPOs. He breaks down index construction, including constituent selection, weighting methods, and index unit conversion mechanisms. He notes that the S&P 500 uses free-float market capitalization weighting, and that the June 15, 2026 closing level of 7554.29 corresponds to an index unit of 0.1190.
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Financial Analysts JournalAI Score2323 Carbon Beta: A Market-Based Measure of Climate Transition Risk Exposure
Carbon Beta is a market-based measure of climate transition risk exposure. This study is published in the Financial Analysts Journal, Vol. 82, No. 3, Q3 2026, pp. 111-137.
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Financial Analysts JournalAI Score2525 Poor Market Timing Did Not Cost Investors 15% of Fund Returns: An Examination of Morningstar's 'Mind the Gap' Study
An examination of Morningstar's 'Mind the Gap' study shows that poor market timing did not cost investors 15% of fund returns. The study is published in the Financial Analysts Journal, Volume 82, Issue 3, pages 34-42, 2026.
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Bridgewater: Research & InsightsAI Score5454 Bridgewater Research: Drivers of U.S. Stock Outperformance and Conditions Needed for Future Repeats
Bridgewater research indicates that since 2010, the excess returns of U.S. stocks relative to developed markets have been roughly equally driven by revenue growth, margin expansion, and rising P/E multiples, with a stronger U.S. dollar further boosting returns for unhedged global investors. The technology sector contributed 54% of the excess returns, of which 22% came from index overweights in technology and 32% from U.S. tech companies significantly outperforming their global peers.
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Bridgewater: Research & InsightsAI Score4545 Bridgewater Research: Is the AI Bubble Ahead of Us or Behind Us?
The Bridgewater research team believes the AI bubble has not yet arrived, noting that the transformative technology and mature macro monetary environment needed to fuel a major bubble are already in place. This view addresses market concerns about AI valuations, commercialization, and slowing technological progress, while also highlighting risks of AI misuse and regulatory uncertainty. Bridgewater established AIA Labs in early 2023 with the goal of building a fully AI-driven investor that can outperform humans.
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