pmart123

32 ms·

301.
by pmart123 8y ago
It's true the total CEF AUM is small, I don't think it is misleading because they still are being sold to retail at the end of the day even if the AUM is less than $1B. MLP's also started small too. The overall leveraged loan
302.
by pmart123 8y ago
They are being sold to retail through close ended funds. Https://www.reuters.com/article/us-intervalfunds-loans/new-interval-funds-offer-alternative-investments-to-retail-investors-idUSKBN1IC290 https://w
303.
by pmart123 8y ago
Well, passive credit is far worse than passive equity. At least in equity, you are buying more of the largest companies, in credit, you are buying more of the larger issuers of debt...
304.
by pmart123 8y ago
Another component to this is that the marketing materials in CLO products always highlight zero default history, even through 2008, but what if the government didn’t backstop AIG, the banks, GE, etc? Safer tranches were saved from default a
305.
by pmart123 8y ago
That’s a good point. Without expertise, it’s much harder to filter good independent sources versus crap.
306.
by pmart123 8y ago
Correlations in finance tend to be unstable. Take two equity stocks in the same sector and one year the correlation could be 0.8 and another year it could be 0.3. Obviously, there are relationships between rates, cost of equity, debt, etc.
307.
by pmart123 8y ago
Bloomberg, FT, institutional investor, CFA, abnormalreturns.com does a decent job of aggregating. Sometimes Barron’s is ok. Blogs and podcasts can be better. It’s always good in finance to think “does this guy have an agenda or bias to push
308.
by pmart123 8y ago
So for a counter factual example, what if you could legally download all of Renaissance Technologies source code? How much would your company be worth? You still need to hire a team, implement the hardware, understand the nuances, and also
309.
by pmart123 8y ago
Has Amazon’s actions led Elastic to be more protective of its IP? From my understanding and looking at Elastic’s documentation, it seems like most of the enhancements have been higher value tools, machine learnings, etc. AWS doesn’t open so
310.
by pmart123 8y ago
True. I think the fact that he didn’t hurt anyone per se is a big difference. Also, Lance Armstrong was actually good at something and he did comeback from cancer. While not the best excuse, every competitor was cheating too.
311.
by pmart123 8y ago
Fair point. Shows and concerts are a one-to-many versus a many-to-many experiences. Everyone hears the same sound versus your steak is perfect and mine is overdone. Although, Broadway shows can have alternative actors perform though in case
312.
by pmart123 8y ago
I believe they have restaurants that don’t require upfront payments, or “ticket” resales? I get it for some of the destination restaurants. If a three star Michelin restaurant is in the countryside of Spain, they have to protect against las
313.
by pmart123 8y ago
I agree that this move is articulating enterprise customer demands rather than demonstrating greater software freedom. I don’t view this as unfortunate though. Slack is a productivity and collaboration product versus a utility like a low le
314.
by pmart123 8y ago
Nice analogy.
315.
by pmart123 8y ago
I agree. I just came across Alex Danco’s blog and it is very good overall. I can’t help to think though that he has flipped the cause and effect of why distributions have changed. My feeling is most of his examples are the result of an incr
316.
by pmart123 8y ago
Honestly, I kind of agree. If he feels so bad about it, donate the money somewhere. Right now, he is having his cake and eating it too.
317.
by pmart123 8y ago
I disagree they should be the same. Credit card fraud risk is much higher on the internet than in person for instance. Apple through iOS and the App Store I would guess, also has a significant edge in detecting and stopping fraud through na
318.
by pmart123 8y ago
Wow. Those pictures are ridiculous.
319.
by pmart123 8y ago
https://pitchbook.com/news/articles/tiger-global-closes-bigg... If you throw in NEA's new fund, that's five funds where $300M is less than 10% if they did the whole round, and if the economics are great,
320.
by pmart123 8y ago
At least you had to build a two-sided network. Without the driver, there literally is no barrier to entry, which is funny when you think about all the future rideshare "profitability" once you have self-driving cars...
321.
by pmart123 8y ago
When a startup is roughly a year old, and its rival just raised $300M, alarm bells should go off in investor's heads, "If both these companies started a year ago, and it only takes $300M to fund the next one, and none of them have
322.
by pmart123 8y ago
Also, some of those are probably empty lots in places like NYC or Chicago where they can be better monetized once the land is rezoned, etc.
323.
by pmart123 8y ago
This is true if you want to be the biggest streaming service, but I don’t think it’s true for HBO. One of the potential flaws in Netflix’s strategy is whether they will have to keep investing heavily in content in line with price increases.
324.
by pmart123 8y ago
Simply put, AT&T will drag HBO into the dark ages.
325.
by pmart123 8y ago
I still think this is a circumstance dependent scenario. For instance, should outside parties have public access to your social graph? Also, I don’t think there is much value add if companies are just reverse engineering the incumbent. If G
326.
by pmart123 8y ago
I still agree with his main point. I got an 800 in Math SAT I & II, and I am far from a Math genius. I don't think you need to implement the Putnam exam, but the SAT is structured to make it very difficult to discern a college play
327.
by pmart123 8y ago
I think a greater amount of legacy candidates typically apply early acceptance, which throws off the pure percentages. Presumably, candidates with large donor backing apply early, but schools typically give these applicants a bump for the i
328.
by pmart123 8y ago
Yeah, it is tough to assess without knowing the likeliness of a stall, and the likeliness a stall causes a crash. Otherwise, we run into the problem of having such a small sample size.
329.
by pmart123 8y ago
Anecdotally, I was speaking to a friend who has a pilot's license, and his thought was that a well-trained pilot should know how to adjust due to the failure, but the system seemed counter-intuitive. I think it does at the very least b
330.
by pmart123 8y ago
Will Elizabeth Warren's antitrust law, or Facebook be more likely to exist 50 years from now in parallel worlds? Facebook itself is being disrupted by Instagram. If it wasn't for the right PM at the right time at Instagram, Snap m

More ›