Tesla in November 2023 : Story twists and turns, with value consequences!
I was planning to start this post by telling you that Tesla was back in the news, but that would be misleading, since Tesla never...
Good Intentions, Perverse Outcomes: The Impact of Impact Investing!
I have made no secret of my disdain for ESG, an over-hyped and over-sold acronym, that has been a gravy train for a...
Invisible, yet Invaluable: Valuing Intangibles in the Birkenstock IPO!
A few days ago, I valued Instacart ahead of its initial public offering, and noted that the reception that the stock gets will be a...
Market Bipolarity: Exuberance versus Exhaustion!
As we enter the last quarter of 2023, it has been a roller coaster of a year. We started the year with significant uncertainty about...
Putting the (Insta)cart before the (Grocery) horse: A COVID Favorite’s Reality Check!
After years of rumors of an imminent IPO, Instacart has finally filed for a public offering of it’s shares, aspiring to raise about $600 million...
A Business Upended: Streaming disrupts the Entertainment Business!
It has been an unsettling summer for anyone with a stake in the movie, television and broadcasting businesses. The strike by screen actors and writers...
Toys for Billionaires: Sports Franchises as Trophy Assets!
I have always loved sports, playing tennis and cricket when I was growing up, before transitioning to fan status, cheering for my favored teams from...
In Search of Safe Havens: The Trust Deficit and Risk-free Investments!
In every introductory finance class, you begin with the notion of a risk-free investment, and the rate on that investment becomes the base on which...