Operating at the Intersection of Technology and the Capital Markets
Category: Fintech
Pinterest has a new CEO. Google needs to simplify its Payments strategy. The two are related. On June 4th we wrote (article HERE), that Google's Payments strategy is confusing given the company's three-pronged approach to consumer-facing payment apps - Google Pay, G-Pay and Google Wallet. Much of our surprise was due to the fact that … Continue reading What Does Pinterest’s New CEO Mean for Google?
It would have made for great theater if the Fed truly wanted to win the war against inflation. Unfortunately, the Fed already blinked. If the Fed's mission truly was to get CPI back down to 2%, the valuation froth that began to manifest in 2019 peaking with 2021's valuation mania (which made the 1999-2000 dot … Continue reading The Fed Already Blinked
We are in favor of SEC Chair Gary Gensler's proposal to route retail order flow to auction. The practice of paying for order flow has thrived since the mid 2000's led by dark pools such as those operated by Citadel. Access to customer order flow allows Citadel, Renaissance Capital and a large number of other … Continue reading Pay For Order Flow Needs To End
Our criticism of Apple (AAPL) and its CEO Tim Cook typically focuses on the fact that Apple does not move swiftly enough as it relates to new market opportunities. Financial Services and Healthcare are two such examples. Back in 2018 we wrote a well-received article entitled Apple Is Well-Positioned to Lead A Consumer-Driven Healthcare Revolution. … Continue reading Apple Health – What’s The Holdup?
Google's customer-facing payments execution is confusing. One must drill down to understand the difference between Google Pay, G Pay and Google Wallet. Further, Google's strategy for each of its FinTech apps differs by geography. Google's confusing positioning is surprising to us given that we have the utmost respect for Bill Ready who leads Google's Payments … Continue reading Google Pay, G Pay, Google Wallet, Oh My!
Manual trading errors such as the one described in the Bloomberg article referenced HERE can essentially be eliminated by implementing business rules within the Trade Order Management System ("TOMS") / Execution Management System ("EMS"), that a given bank has installed (years ago TOMS and EMS were separate systems but today typically are a single system). … Continue reading Citigroup’s Trade Error To Cost Bank More Than $50 Million
If we have said it once we have said it a thousand times: "G" is what matters in ESG investing. The "G" stands for Governance. Nothing is more determinant to a company's success than the people who lead that company, beginning with the CEO (which of course is the reason why we started CEORater 5 … Continue reading “G” Matters. Throw Out The “ES”.
Here is our follow-up to our recent article Facebook Will Be Next. We have stated on a number of occasions that social media companies such as Meta/Facebook and Twitter overstate the number of active users given that the active user metric is a self-reported figure and given that no outside firm has the ability to … Continue reading Facebook and The Blockchain
The Justice Department's Antitrust chief Jonathan Kanter is misguided in his comments about the Private Equity industry. Mr. Kanter ought to look to the Federal Reserve for perverting markets through its actions over the past decade-plus, especially during the April 2020-March 2022 period. If Mr. Kanter wishes to place blame somewhere place it at the … Continue reading The Fed Is To Blame, Not Private Equity
As equity valuations pull back and recession looms investors ought to take cover by investing in industry-leading companies led by quality management teams. The universe of such investment opportunities can't be identified by PE or cash flow multiples, dividend yields or the like. While valuation metrics are a decent filter (example: I would never pay … Continue reading Focus On Quality Management Teams
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