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MARKETS

Banks and markets 

are complementary 

The financing of investment  is no longer covered by self-generated cashflow. Even  banks have their own limitations.

Markets are therefore  essential for investment.

An easy quizz shows how critical it is for Europe to develop its own financial markets ... see more. 

TESLA

How companies

benefit from speculation 

In september 2020, Tesla raised 5 billions $ from a new issuance of stocks.

This "free" money wiil allow the company to further invest in its expansion ... see more 

THE  €URO  

A dominating dollar

A second world reserve currency, the euro protects Europe. A lot remains to be done to counterbalance the dollar - and yuan - dominance ... see more 

ECB

The continuing

quantitative easing policy  

The ECB is buying states bonds at a monthly rate of 80 billions €, with a pledge to renew them at maturity.

More than a third of sovereign debts are now in its books and will stay there for decades.  This means a profound change in the debt structure of the european countries and less dependance on the markets. ... see more

THE BALANCE SHEET  

A very powerful tool

The balance sheet is essential to fully understand the management of any business: companies, banks, hedge funds, startups ...

It is comparable to a car dashboard: what matters is to know what to look at and how to interpret it. 

This simple quizz shows how powerful this tool can be ... see more

CASH-FLOW 

An indicator

of profitability 

The accounting profit is not a good indicator of profitability as it takes into account some elements that vary from a company to the other, such as amortization, taxes and provisions.

Cashflow - and EBITDA - are better indicator of profitability ... see more  

HEDGE FUNDS

Risk tranches 

A simple mechanism is used by hedge funds to build risk tranches. Capital returns from their investments are allocated sequentially to the three tranches, allowing the senior tranche to be rated with the smallest risk. Accordingly, they will receive the smallest  remuneration ... see more ..