Category Archives: debt & equity

2015 Economic Forecast by Joel Stern

Joel-Stern-2015-economic-forecast-stern-learning-systems

Last year my economic forecast for 2014 called for a rate of real economic growth of 4% for the U.S., much higher than the prevailing forecast at the time as well as the prevailing rate of economic growth that had existed in the years 2010-2013.  Economic growth had only been sputtering along at between 1.8% […]

Read More ...

Debt Is Not Cheaper Than Equity

Stern-Learning-Systems---Blog-post---Debt-is-not-cheaper-than-equity

One of the most important questions for students of corporate finance has to do with whether value can be created on the right-hand side of the balance sheet. Earlier I pointed out why value cannot be created from cash dividend payments, share buybacks and even from splitting the shares. It is time now to take […]

Read More ...