Brian DeChesare

JANUARY 11, 2023

As they’ve rightly observed, ChatGPT does not “understand” concepts in the symbolic/abstract way humans do; it simply predicts the next word in the sentence. This leads us to the possible impact on investment banking and other finance-related roles. I’ve also tested it for industry research and financial model outlines. But a short story?

Banking 97

Banking Start-ups Finance Compliance 97

Musings on Markets

JANUARY 21, 2023

It is the nature of stocks that you have good years and bad ones, and much as we like to forget about the latter during market booms, they recur at regular intervals, if for no other reason than to remind us that risk is not an abstraction, and that stocks don't always win, even in the long term.

Equity 70

Equity Risk Premium Start-ups Dividends 70

Musings on Markets

OCTOBER 19, 2021

In a post a few weeks ago , I argued that the disclosure process had lost its moorings, as corporate disclosures (annual filings, prospectuses for IPOs) have become more bulky, while also become less informative. As we look at the explosion of disclosures around the world, there are many obvious culprits.

Start-ups 70

Start-ups Banking Marketability Technology 70

Musings on Markets

OCTOBER 6, 2023

In this post, I will look at another initial public offering, Birkenstock, that is likely to get more attention in the next few weeks, given that it is targeting to go public at a pricing of about €8 billion, for its equity, in a few weeks.

Intangible Assets 104

Intangible Assets Book Value Equity Start-ups 104

Reynolds Holding

MAY 4, 2022

First , education ought to go deeper than mere abstraction and focus on what ESG means in practice for the organization in light of its specific characteristics. Inside counsel are increasingly taking notice of the rise of ESG and are conscious of how expansive and profound could its ramifications be.

Compliance 58

Compliance Marketability 58

Reynolds Holding

JUNE 27, 2023

Thank you, Christina [Maguire], for that introduction and congratulations on becoming President and CEO of the Society [for Corporate Governance] (the “Society”) this past January. Current Trends in Shareholder Proposals At the Society’s 2015 national conference, then-Chair Mary Jo White reflected on that year’s proxy season. [4]

Corporate Finance 45

Corporate Finance Marketability Finance Start-ups 45

Farrel Fritz

NOVEMBER 20, 2022

The purpose clause also includes what I have called in previous posts the “purposeless” purpose clause, to wit, “to engage in any lawful act or activity for which Limited Liability companies may be formed in New York.”. The Operating Agreement. provides that the “term of the Company shall be perpetual.”. The Lawsuit.

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Reynolds Holding

DECEMBER 18, 2022

Especially in the ESG era, there is an increasing call to design corporations to accommodate non-investor interests. A Delaware vice chancellor recently lamented that “Delaware should not be determining employment law for the country and for the world.” [1] These fall into roughly three categories: Corporate governance for noninvestors.

Equity 45

Equity Appraisal Technology 45

Musings on Markets

OCTOBER 25, 2022

An alternate way of describing free cash flow to the firm is that it measures the cash flows that would have been available for equity investors, if there were no debt in the firm, and it is for this reason that some call it an unlevered cash flow.

Dividends 92

Dividends EBITDA Equity Start-ups 92