Reflections for the year end
We can't let our jobs define us, but how we do our jobs, and behave with our colleagues and clients ultimately determines the kind of person we are.
No such thing as fair value
There are no correct answers for the cost of capital. There are only astute decision makers and those afraid to get caught on the wrong side of the outcome.
Stupid money is as stupid does
Initial public offerings are the final equity takeout representing the finishing line for all early investors in the business.
Hong Kong is not what it used to be
No crowds. Only a handful of shops open. Lounges are dead.
The great FTX blow up (part II)
A large part of leverage today is being mis-used as a product by bankers to profit from greedy customers who want to achieve outsized investment returns.
The great FTX blow up
Do I think an investment into crypto or bitcoin take off? I do not know. More important than what I think is actually what others think.
"Un-investable" is all about the perception of risk
Our lack of understanding in how different countries are being governed are rooted in bias, largely based on what we are familiar with and what we are not.
Numbers and the narrative
Without connecting the numbers to a story, projecting cash flows simply becomes an emotionless exercise of numbers.
Middle class immigrant
It can be difficult to call a rented place home, especially if you do not have long term visibility of staying in that city.
Motivated to get the deal done
If both sides are motivated to get the deal done, it will be done.
Beware of the golden handcuffs
Someone who has been employed for a while is giving you strong evidence of submission.
Putting lipstick on a pig
People should be lining up for this! Why aren’t investors buying our business?
The real social dilemma
We are ultimately responsible for how we let them influence the way we think.
Creating value
In any business or career, one needs to first understand your role within the firm - are you a small gear or a large gear?
Forty takeaways
It was timely to reflect and think about what I had learned in life over the last forty years.
Live to eat - a new normal
Circuit breaker day 34: Eating within the confines of home is challenging the innate want of humans to go out.
Valuation and the velocity of information
In business valuation, the pricing estimates done by analysts can be thought of both right and wrong, until proven by the market.
I have re-arranged some stuff here, please visit this link if you would like to re-subscribe to the email alerts.

