Uploaded February 2025 | Updated September 2026, 1 week ago
In this session, I take my version of the iconic Disney theme park ride (It's a small world after all) across the globe, starting with a look at how global equity markets did in 2024, in terms of price changes, and following up with an examination of currency movements during the year (with estimates of riskfree rates in each currency at the start of 2025). In the next section, I present my argument for why risk should vary across countries, and estimate equity risk premiums by country. In the final section, I look at how markets are pricing stocks in different parts of the world, with a preliminary assessment of which countries are trading at the lowest and highest multiples of earnings and sales.
Slides: https://pages.stern.nyu.edu/~adamodar/pdfiles/blog/DataUpdate5for2025.pdf
Blog post: aswathdamodaran.blogspot.com/2025/02/data-update-5-for-2025-its-small-world.html
Datasets:
1. Equity risk premiums by country: https://pages.stern.nyu.edu/~adamodar/pc/datasets/currencyriskfree2025.xlsx
2. Riskfree rates by currency: https://pages.stern.nyu.edu/~adamodar/pc/datasets/ctryprem.xlsx
In this session, I take my version of the iconic Disney theme park ride (It's a small world after all) across the globe, starting with a look at how global equity markets did in 2024, in terms of price changes, and following up with an examination of currency movements during the year (with estimates of riskfree rates in each currency at the start of 2025). In the next section, I present my argument for why risk should vary across countries, and estimate equity risk premiums by country. In the final section, I look at how markets are pricing stocks in different parts of the world, with a preliminary assessment of which countries are trading at the lowest and highest multiples of earnings and sales.
Slides: https://pages.stern.nyu.edu/~adamodar/pdfiles/blog/DataUpdate5for2025.pdf
Blog post: aswathdamodaran.blogspot.com/2025/02/data-update-5-for-2025-its-small-world.html
Datasets:
1. Equity risk premiums by country: https://pages.stern.nyu.edu/~adamodar/pc/datasets/currencyriskfree2025.xlsx
2. Riskfree rates by currency: https://pages.stern.nyu.edu/~adamodar/pc/datasets/ctryprem.xlsx
