My take last June in @alphaville.ft.com : “Palihapitiya’s real talent isn’t Spacs or venture capital or even podcasting. It’s chutzpah. He has reframed his spectacular failures — from which he has profited enormously — as proof that he has learned the hard way.“ www.ft.com/content/e859...
Un papier passionnant de Craig Coben et David Erickson sur l'introduction en bourse de SpaceX. Selon eux, la valorisation envisagée semble très difficile à justifier. D'où la pression sur le NASDAQ pour modifier les règles d'inclusion dans le NASDAQ 100.
Everything you need to know about SpaceX's wildly ambitious IPO plans.
as.ft.com/r/6b83fe5b-0...
Thank you!
Correct
Nasdaq is contorting its own index rules to court the IPOs of SpaceX et al, and @thekrazykobra.bsky.social brings the 🔥 www.ft.com/content/cdf3...
Wouldn’t make it into Nasdaq 100 because free float minimum is 10%
Nasdaq’s proposed changes to the Nasdaq-100 would fast-track mega-cap IPOs like SpaceX or Anthropic into the index even with tiny floats.
Good for insiders but it risks leaving passive investors holding the proverbial bag.
In @alphaville.ft.com today - no paywall: www.ft.com/content/cdf3...
Column I wrote in today’s @financialtimes.com - why your time shouldn’t become a public good once you’ve left the corporate world
My post today, riffing off my post from last August. What does it mean to say that an IPO was underpriced?
life comes at you fast, 'infinite money glitch' edition
Michael Saylor’s Strategy has spent 5 years buying bitcoin. Stock still up 10x since 2020.
But the bitcoin itself? Roughly breakeven. Avg cost ~$76k.
Real story was the “Saylor premium”: a self-reinforcing loop of stock issuance, NAV premium and BTC buying — now starting to unwind.
My latest ⬇️
Post I wrote today for @alphaville.ft.com about Czechoslovak Group’s successful €3.8bn IPO. I remember working on EADS’s IPO 26 years ago when quite a few European investors balked at defence sector on ethical grounds. Not anymore. www.ft.com/content/a620...
Column I wrote today in @financialtimes.com
- @thekrazykobra.bsky.social continues to shine a light on what it is actually like to work in inv banking. Here he writes on how to deal with a bad bonus www.ft.com/content/913d...
Heerlijk stuk
Column I wrote in today’s @financialtimes.com ⬇️
Morning. Here’s an Alphaville post from @thekrazykobra.bsky.social on how the massive US IPO pipeline could cause a big slash in markets this year — and suck attention away from the UK, Europe and Asia. Plus ca change. www.ft.com/content/d9c1...
Who benefits when big tech takes up all the bandwidth, asks @thekrazykobra.bsky.social
as.ft.com/r/84fcc0f1-c...
Column I wrote today ⬇️
My @alphaville.ft.com post below.
BTW, if you haven’t seen the @financialtimes.com film narrated by @katie0martin.ft.com on $MSTR from last May, it is well worth a watch as (so far) a remarkably prescient work of video journalism
It’s that time of year again: investment banks are announcing their latest slate of managing directors. Here is @thekrazykobra.bsky.social on how that unfolds and what the MD title means www.ft.com/content/e8eb...
Around this time of year, investment banks announce who has been promoted to the ranks of managing director.
My @financialtimes.com column looks at the committees, politics, rankings, and the occasional tears of joy and asks what this milestone really means
www.ft.com/content/e8eb...
A Strategy update from the finite money grinch, @thekrazykobra.bsky.social
on.ft.com/48kKIxY
Strategy (formerly MicroStrategy) was knocking on the door of the S&P 500 barely two months ago. Now the conversation has flipped to whether it can survive. My take in $MSTR in @alphaville.ft.com www.ft.com/content/1f63...
Column I wrote in today’s @financialtimes.com - have financiers been captured by an industry whose greatest strength is the financial freedom that working in it purports to offer?
another nice piece on MSTR from @thekrazykobra.bsky.social
My take on the largest London IPO since 2021 — the flotation of Princes Group. Free to read at @alphaville.ft.com : www.ft.com/content/4141...
