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Not GP, but it's by my reading to show that it's not at all clickbaity, Levine certainly understands your point, and the headline position is reasoned.
by OJFord 4y ago
Not GP, but it's by my reading to show that it's not at all clickbaity, Levine certainly understands your point, and the headline position is reasoned.
- MichaelZuo 4y ago> and the headline position is reasoned. Huh? Doesn't it reinforce the point that UBS paid quite a lot for Credit Suisse?
- OJFord 4y agoI think when you say 'paid' you mean the literal transaction value + liabilities, whereas when Levine says it he means net of liabilities but also assets. Which is a bit different from not thinking about the liabilities at all (the classic layman response to a company bought out of administration for £1) in that it massively affects the scale - while it's not £1 it's still 'nothing', it's a rounding error on the liabilities, I don't have it hand to quote but there was something about 'as you can tell from the fact they tripled (? whatever it was) shareholder payout in a matter of hours'.
- MichaelZuo 4y ago> I think when you say 'paid' you mean the literal transaction value + liabilities That's the dictionary definition. And I imagine what the vast majority of HN readers will have in mind. Hence why I said the headline is clickbaity.