Operating at the Intersection of Technology and the Capital Markets
Tag: capital markets
We have folded our CEORater-related content under our TEK2day brand. TEK2day will publish more content to YouTube in the coming weeks. Our YouTube content won't necessarily be published as a TEK2day podcast. We occasionally publish our content to LinkedIn, but not all of our content. The best way to find our content is here at … Continue reading TEK2day: All Things Technology & Capital Markets-Related
The capital markets are bonkers having been thrown into contortions by perverse fiscal and monetary policy. Up is down and down is up. The Capital Markets remind me of Bizarro World from the Superman comics where everything is backwards. FISCAL POLICY: One could argue that fiscal policy has been working against Americans since the days … Continue reading The Capital Markets Are Bonkers
The Fed has created more zombie companies than any zombie apocalypse. The late great George Romero has nothing on the Fed. We are praying, crossing fingers and toes that the Fed will end QE and not support Government-led corporate bailouts with its money printing ability. Wishful thinking? Maybe. However, if nobody pushes back on the … Continue reading Allow Zombie Companies To Fail & Sanity To Return To The Markets
Management Teams Have Less Discretionary Capital as The Cost of Debt Rises As the cost of debt rises, management teams have less discretionary capital to allocate toward growth initiatives and various sources of competitive differentiation (Product Development for example). Belt tightening will be required as corporate America braces for the new normal of higher input … Continue reading The Cost of Debt Rises
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
Founded in 2017, Capital Markets Gateway ("CMG") is working to automate the IPO process, an effort that is long overdue. CMG was highlighted in today's WSJ. The firm's platform aggregates data from issuers, underwriters and investors and provides real-time information and analytics to users that otherwise would be aggregated, error checked and tabulated by hand. … Continue reading Automating The IPO Process
Earlier this week Broadridge (BR) agreed to acquire trading platform Itiviti for $2.5 Billion in an all cash deal from PE firm Nordic Capital. This demonstrates that growth is valued at a premium as it values Itiviti at approximately 34x 2020 Non-GAAP Operating Income and 10x 2020 Revenue. Itiviti is growing organic revenues faster than … Continue reading Broadridge’s Acquisition of Itiviti. Nothing Is Cheap.
Virtu, SS&C Technologies and Envestnet are among the Capital Markets Fintech names that ought to draw attention from value investors. We have updated our Capital Markets Fintech table as earnings reports have rolled in. If you are a value investor who looks to cash flow-based valuation metrics, Virtu (tkr: VIRT), SS&C Technologies (tkr: SSNC) and … Continue reading Virtu, SS&C Technologies and Envestnet
Hopefully prospective SEC Chairman Gary Gensler will work to rein in the frothy activity that has occurred in the capital markets over the past decade. These range from slap on the wrist fines (large banks in particular), which amount to nothing more than a Cost of Goods Sold charge, to SPACs to more recently social … Continue reading The Social Media-Enabled Pump and Dump
The retail trading crowd views Elon Musk as a populist hero. The reality is Musk is a carnival barker and borderline fraudster in the vein of WeWork founder Adam Neumann. Mr. Musk got off easy under lax former SEC Chairman Jay Clayton. Recall in August 2018 when Musk posted on Twitter that he had secured … Continue reading Elon Musk Is A Carnival Barker At Best, A Criminal At Worst
You must be logged in to post a comment.