The post analyzes the collapse of Long-Term Capital Management (LTCM), emphasizing the role of funding dynamics, market microstructure, and the interplay of endogenous and exogenous risks. It critiques the narrative presented in R...
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Drayton writes about business, investing, and enterprising people, with interests in finance, tech, and history.
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6.7Pop And Circumstance
2025-08-07 • finance ipo investment figma market analysis
The article argues against common criticisms of the IPO process, asserting that companies intentionally engineer an IPO 'pop' to benefit various stakeholders, including founders, VCs, and Wall Street. It discusses the role of inve...
The text discusses Meta's non-acquisition of Scale AI and how it is exposed to an FTC antitrust challenge. It explains how the deal should have been structured to avoid scrutiny and outlines the vulnerabilities of the current deal...
The text discusses the concept of 'burrito bonds' and how they represent a financial innovation that unbundles consumer credit into tradeable assets, allowing the market to decide who should hold the risk. It explains how the deve...
0Foreseeing GE's Fall
2024-11-12 • management business finance ethics corporate culture
The text discusses the downfall of General Electric and the failures of the Jack Welch School of Mismanagement. It highlights the issues and unethical behavior at GE, including earnings management, safety violations, and sexual ha...
The text provides a detailed guide on running a successful restaurant, covering topics such as the misconception of restaurant failure rates, balancing passion and pragmatism, selecting the right concept and location, conducting a...
The text discusses the flaws in mental models-style thinking, particularly the government-as-household analogy, and how it leads to flawed reasoning and poor investment decisions. It highlights the disqualifying differences betwee...
The 'moat' metaphor, popularized by Warren Buffett, has been misused in business and investing discourse, leading to a shift in focus away from delivering value to customers. The misuse has clouded strategic thinking and led to th...
The text is a strong recommendation for the book 'For Blood and Money' by Nathan Vardi, which tells the story of Robert Duggan, a retired entrepreneur who takes over a biotech company and leads it to a $42B exit. The book provides...
Commodity traders are the manifestation of Adam Smith's Invisible Hand, directing resources to their highest value by arbitraging mispricings using logistical operations and financial markets. The industry has accumulated $120 bil...
The text discusses the performance of equities and investments in renewable energy infrastructure, as well as the struggles of a US fund manager. It also touches on the concept of old portable alpha in a new ETF bottle and the fin...
The book 'On The Edge' by Nate Silver is a memoir and gonzo journalism that lacks a unifying concept. It covers the communities of Silicon Valley, Wall Street, sportsbetting, crypto, and effective altruism. The book discusses the ...
Shyamalan self-financed his films to retain creative control and maximize returns. A geoscientist convinced Exxon to invest in drilling in Guyana, transforming the country's economy. Tim Walz's net worth is in public sector pensio...
The text discusses various topics including trading, hedge funds, endowment returns, democratization of alternative investments, CrowdStrike's Falcon bug, IM Academy, ad agencies' principal-based trading, and Microsoft's AI cloud ...
The post discusses the concept of recursive investing, which involves predicting other investors' valuation of an asset and updating one's assessment of the asset's price based on this forecast. It also explores the difference bet...
0Welcome! Here's What To Expect
2024-07-29 •
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