The impact of COVID-19 on financial markets has been profound and, in most cases, has negatively impacted the value of assets and investment opportunities. However, as is the case in every major market disruption, some asset classes weather the storm better than...
Every journey of a thousand miles starts with a single step. For the world’s largest e-commerce investor, that happened in an Uber. It was the definition of a captive audience. “Our first product was serving Uber drivers and we took Ubers and we pitched our product,”...
On the first day of this summer, temperatures reached 100 degrees in the Arctic Circle. It’s an easy thing to forget about these days, what with a pandemic going on, a presidential election looming, and a new civil rights movement emerging across the nation. But...
High fees have morphed into a benefit-free annual donation to the finance industry Nearly half a century ago, Charles Ellis, a well-known US investment consultant, wrote an influential paper likening the money management business to a game of tennis. Just as amateur...
We’ve embedded an SEC Risk Alert on private equity abuses at the end of this post.1 What is remarkable about this document is that it contains a far longer and more detailed list of private abuses than the SEC flagged in its initial round of examinations of private... 