The Collapse of the Center

It's the politics, stupid? Credit Writedowns is back. And right now, it's the politics that are on my mind more than the markets or the economics. I have had a long while to sit and think about what's been happening and where we're going.…

Just when you thought it was risk-on

Trade and Currency Wars I am starting this article just ahead of the equity market open in New York. And S&P futures have the market opening down 1%. The market continues to be unsettled by the political uncertainty around the US-China…

Facecoin, Slack and loss-making IPOs

A quick note here with a few thoughts on technology IPO companies with economic moats I use Slack every day at work. It is an essential internal communications tool for my job. And, as such, I see it as a company with relatively high…

IPOs, a global rebound and Tariff Man

The IPO market is hot As I wrote last night, IPO conditions right now seem nearly ideal for growth companies to come to market. The appetite for loss-making companies shows us that public investors are willing to overlook losses as long as…

2019 may be the best time to IPO

Growth matters, profits don't Nearly 7,000 scooters appeared to be active in Los Angeles County in January, having logged a ride in the previous two weeks. By April, more than 5,500 of those same scooters appeared to be removed from active…

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