16
Mar
2023
Value Trapped
I’ve gone into podcasting, with Mark Simpson of Excellent Investing fame. We decided to call the podcast ‘Value Trapped’ as a pun. A ‘Value Trap’ is an investment that has alluring numbers, for instance a low price/earnings multiple, maybe a high dividend yield – the numbers are very attractive. Then it turns out that there... Read More
4
Dec
2022
Food capitalism
Many years ago, while skiing in Chamonix I met a dreadlock haired, weed smoking snowboarder. He was somewhat paranoid and full of conspiracy theories, suspicious of anything that was too mainstream. He enjoyed music like this. He claimed that marijuana and psychedelics were not addictive. Governments knew this, but greatly feared these drugs were harmful... Read More
30
Dec
2021
Money stays the same
I haven’t post much on this blog this year. That’s partly because I have been writing financial analysis to showcase the features and benefits of Sharepad. My original intention of the blog was to look at financial language, and try to assess it using Natural Language Processing, to make qualitative assessments of how management communicate... Read More
30
Aug
2021
Making a market in disputes
I’m interested voluntary disclosure, the information that company management choose to reveal to shape a narrative, not the numbers that they are obliged to report by regulations. I think Burford, the litigation funder is a fascinating case study. First some context on litigation finance to understand what Burford does, then the story it’s trying to... Read More