whatok

25 ms·

211.
by whatok 7y ago
Wikipedia is saying that the 2016 round valued We at 16bn which was before Softbank invested. It was already overvalued before Softbank and the corporate governance issues were there before as well.
212.
by whatok 7y ago
Never been there but always thought the copy for the Harlem location was special. https://www.wework.com/buildings/8-w-126th-st--new-york-city... >If you’re looking for workspace that revels in uptown funk but gets
213.
by whatok 7y ago
The S1 gave them a pop because there was a disclosure that they bought back 33mm.
214.
by whatok 7y ago
Quite likely is a vast overstatement. They're yielding a slight bit more than they did on issue.
215.
by whatok 7y ago
It's not a large number relative to the combined balance sheets of the ECB, PBoC, and BoJ.
216.
by whatok 7y ago
> This is leading to capital world-wide gobbling up as much long term US debt as possible, and inverting the curve. This is not true. TIC data [1] shows a 6.6% increase YoY. Hedging FX risk has made US Treasuries unattractive even with t
217.
by whatok 7y ago
Paper losses that trickle up to parent SOFTBK stock which has been pledged as collateral for loans.
218.
by whatok 7y ago
At least they tried to clean up Uber before the IPO. This thing just seems really sloppy on multiple fronts.
219.
by whatok 7y ago
I wouldn't even worry about having a place to work out of. VC funding has been drying up and a massive down round or a default is going to close that right up.
220.
by whatok 7y ago
SoftBank is raising a second fund that has many overlapping investors from the first fund.
221.
by whatok 7y ago
They account for half of the bonds issued to retail investors which is significantly smaller than the overall corporate market. Half of all corporates makes little to no sense for anyone who has a cursory knowledge of this space.
222.
by whatok 7y ago
"Among the possibilities they discussed was SoftBank serving as an anchor investor in the IPO by buying a significant portion of the roughly $3 billion to $4 billion the company is expected to raise. They also discussed whether SoftBan
223.
by whatok 7y ago
I think the general consensus is that WE is probably going to go public at a discount to the latest round. UBER was talked at like 100bn+ before they actually IPOed.
224.
by whatok 7y ago
People are investing more in index funds because we've had a ten year bull market and index fund fees have dropped in an attempt for competition for assets. Most active management is probably not appropriate for most individual investo
225.
by whatok 7y ago
Define "so high". If fees are too high, why is anyone paying them? How do you determine what's high?
226.
by whatok 7y ago
I'm not sure how fees are unchecked. Active management fees have fallen quite a bit over the past 5+ years. A lot of mediocre managers have gone out of business and many more probably will as well. Additionally, new fund launches are n
227.
by whatok 7y ago
A single entity holding 99% of anything will absolutely have an impact on liquidity which absolutely impacts price discovery.
228.
by whatok 7y ago
You can't run most active management strategies on anything approaching the average passive fee structure. Additionally, you run into problems with scale. An S&P 500 tracking fund scales extremely well and could add several billion
229.
by whatok 7y ago
Did you mean to reply to my post? I don't see the relevance.
230.
by whatok 7y ago
Once indexing gets to be a certain size, you run into the "markets irrational longer than you can stay solvent" issue at a much higher level. Active management "correction" doesn't really work if active managers are
231.
by whatok 7y ago
Some 401ks have access to different share classes that have (nearly) identical funds with different fee structures.
232.
by whatok 7y ago
There have been quite a few recent issues at negative yields and coupons do not need to be low (they usually are though) for yields to be negative; bonds can also be issued at a premium to par. Recent 30 year Bunds were issued with a 0 coup
233.
by whatok 7y ago
The average 401k holder knows that it's a tax advantaged savings vehicle and that there aren't many of those available to individual investors. The tax advantage completely outweighs all of the negatives that you listed in almost
234.
by whatok 7y ago
I'm pretty sure people criticize Elon for more than just a few Tweets.
235.
by whatok 7y ago
The number and magnitude of the failures are larger now than there were in the past. Similarly, look at the old SolarCity acquisition thread linked below. The sentiment is completely different. No one cares about a great UI if people'
236.
by whatok 7y ago
Please describe how this selection bias filter works.
237.
by whatok 7y ago
If anyone is unfamiliar with the author, she was one of the first mainstream media authors to be critical on Enron and eventually wrote a book on Enron as well.
238.
by whatok 7y ago
> That's because the QE program only stopped increasing the ECB's assets. When bonds that are held by the ECB mature, the equivalent amount in new bonds is still being re-bought. Reinvesting maturing proceeds does not produce t
239.
by whatok 7y ago
The ECB charges banks -0.40% to deposit money with them. These bonds are currently yielding -0.14%. Rates are not low enough to the point where physical cash is a thought. Rough estimates are a deposit rate of -0.75% where you would make m
240.
by whatok 7y ago
I agree with all of this and probably could have phrased my original post better. My main point is that none of this is really possible without ECB rates being set where they are. Successful monetary policy requires multiple tools to be u

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