Reynolds Holding

NOVEMBER 30, 2023

How to Tell When A Blockchain Project Is An Unlawful Security Under the Securities Act of 1933, securities are defined to include stocks, bonds, notes, and, notably, investment contracts—a catchall that is the most likely category for unconventional businesses like blockchain projects. [1] In Friel v. Dapper Labs, Inc. 77b(a)(1). [2]

Marketability 52

Marketability Finance 52

Musings on Markets

MARCH 8, 2023

In my sixth data update, I looked at the trade off that should determine how much companies borrow, where the tax benefits are weighed off against bankruptcy costs, but noted that firm often choose to borrow money for illusory reasons and because of me-tooism or inertia.

Dividends 91

Dividends Start-ups Finance Corporate Finance 91

Farrel Fritz

MAY 15, 2023

Years into a protracted derivative lawsuit by a 20% founding shareholder against his co-founder 60% shareholders over their misappropriation of “Smithfield,” an Irish sports bar in Manhattan, New York County Commercial Division Justice Jennifer G. (“Dubcork”) as co-equal, 25% shareholders to own and operate Smithfield bar.

52

52

Reynolds Holding

FEBRUARY 14, 2024

6] Opposing or supporting voting differences is one thing, but actions taken with real money count in the market for consumer goods as well as for investment vehicles. There remains nothing under the hood. Fisch – Steven Davidoff Solomon, Dual Class Stock. Perpetual Dual-Class Stock: The Case Against Corporate Royalty, 15 Feb.

Marketability 69

Marketability Finance Equity 69

Brian DeChesare

FEBRUARY 22, 2023

They all raise money from Limited Partners (LPs), such as pension funds, sovereign wealth funds, endowments, and insurers, and invest in companies and securities. They earn money from a management fee charged on their assets under management (AUM) and a performance fee, often 20% of the profits above a certain hurdle rate.

Finance 125

Finance Marketability Banking Corporate Finance 125

Reynolds Holding

DECEMBER 15, 2022

Stock-based executive compensation is an important way that boards and shareholders incentivize their senior leadership, aligning executives’ incentives with shareholders’ incentives. Selling this stock while in possession of material nonpublic information, however, can undermine that alignment. Why do such cooling-off periods matter?

Corporate Finance 45

Corporate Finance Marketability Finance 45

Musings on Markets

NOVEMBER 1, 2023

At regular intervals, though, the company steps on its own story line, creating confusion and distractions, and during these periods, its stock price is quick to give up gains, and that has been the case for the last few weeks.

Start-ups 114

Start-ups Marketability Market Capitalization Equity 114

Reynolds Holding

MAY 25, 2023

They provide everyday investors diversification and lower costs than buying individual stocks or bonds. Money market funds came about in the early 1970s. [12] Indeed, in 2008 and 2020, sparks emanated from registered funds, particularly money market and open-end bond funds, putting everyday Americans at risk.

Banking 40

Banking Treasury Marketability Start-ups 40

Reynolds Holding

NOVEMBER 28, 2022

Supporters of “crypto inclusion” envision crypto trading flourishing under the imprimatur of financial regulators empowered to police markets for improper activities. Gamblers bring money – fiat currency – into a casino or online gambling game, wager on outcomes, and convert the winnings or losings back into money.

Finance 145

Finance Banking Marketability Treasury 145

Reynolds Holding

SEPTEMBER 24, 2023

With respect to litigation, they argue that “suing short sellers is not an effective response strategy, even though there will often be an understandable desire to bring claims for defamation, stock manipulation or other unlawful practices.” 20-CV-04947, 2023 WL 4825110 (N.D. I disagree. That decision, SEC v. CIBC , 585 F.Supp.3d

Marketability 59

Marketability Finance Firm Value 59

Reynolds Holding

JUNE 4, 2023

In a decision on “enhanced scrutiny” under Unocal Corp. Further, despite there being a fully informed stockholder vote on the business combination, the court declined to find the board actions cleansed (and, accordingly, did not subject the board’s actions to the deferential “business judgment rule”) under Corwin v.

Marketability 40

Marketability 40

Appraiser Newsroom

JULY 21, 2022

After slowly starting to heal from the devastation of the virus outbreak, there was a euphoric run-up in stock, crypto and real estate prices. The Federal Reserve Bank, with quantitative tightening, turned off the flow of cheap money, and the good times ended. The stock market plunged. Millions of jobs became available.

Start-ups 52

Start-ups Banking Finance Marketability 52

Value Scope

APRIL 9, 2021

Margaret Wolfe Hungerford (née Hamilton), who authored many books, often under the pseudonym of ‘The Duchess’ When I think about value, I (like most in my profession) think first about fair market value (“FMV”). Not too many people frame stock certificates, or bank statements. 1] But the concept of value is complex.

Fair Market Value 130

Fair Market Value Marketability Finance Intangible Assets 130

Value Scope

APRIL 9, 2021

Margaret Wolfe Hungerford (née Hamilton), who authored many books, often under the pseudonym of ‘The Duchess’ When I think about value, I (like most in my profession) think first about fair market value (“FMV”). Not too many people frame stock certificates, or bank statements. But the concept of value is complex.

Fair Market Value 130

Fair Market Value Marketability Finance Intangible Assets 130

Reynolds Holding

MAY 4, 2023

And well-run companies become good stocks to own.” [5] In July, 2017, the stock of NYSE-traded Tahoe Resources dropped 33 percent when the Supreme Court of Guatemala suspended its license to operate the world’s third-largest silver mine. [14] 5] The motive here is not mixed; it is pecuniary. 3°C by 2100. [25]

Systematic Risk 117

Systematic Risk Finance Marketability Equity 117

Farrel Fritz

SEPTEMBER 12, 2022

Sometimes, a claim will be sufficient under the laws of one state, but insufficient under another, so the conflict-of-law analysis may be outcome determinative of whether the plaintiff can pursue or recover on a particular claim. In the resulting decision, Freedom Holding, Inc. The Amended Complaint and the Dismissal Motion.

52

52

Musings on Markets

FEBRUARY 4, 2023

The History The Adani Group, founded by Gautam Adani, started life as a commodity trading partnership business in Gujarat, and listed on stock markets in 1994, as Adani Exports, with a large chunk of its revenues coming from its operation of a local port in Mundra, with a subsequent entry into the edible oil business.

Start-ups 100

Start-ups Market Capitalization Equity Marketability 100

Reynolds Holding

JANUARY 2, 2023

Bloomberg forecasts that by 2025 ESG assets may hit $53 trillion – a third of global assets under management. A recent study found that investors are willing, on average, to pay 20 basis points more for an investment in a fund with an ESG mandate as compared with equivalent funds without one ( Baker et al.

Systematic Risk 53

Systematic Risk Dividends Marketability 53

Musings on Markets

AUGUST 5, 2023

Just in the last few weeks, I have seen a Wall Street Journal article put the equity risk premium at 1.1%, a Reuters report put it at 2.2%, and a bearish (and widely followed) money manager estimate the equity risk premium to be negative. How, you may ask, can equity risk premiums be that divergent, and does that imply that anything goes?

Risk Premium 78

Risk Premium Equity Start-ups Treasury 78

Reynolds Holding

FEBRUARY 26, 2023

Earlier this month, tax officials spent three days ransacking the offices in Mumbai and New Delhi after the government banned a BBC documentary that criticized Prime Minister Narendra Modi for allegedly condoning deadly violence against rioters when he was chief minister of Gujarat more than 20 years ago. [2]

Banking 111

Banking Marketability Market Capitalization Finance 111

Reynolds Holding

JULY 18, 2022

NFTs by definition are not fungible and involve unique digital assets and would hence not fall within the CFTC’s jurisdiction under this legislation. Today’s charges demonstrate the commitment of this Office to stamping out insider trading – whether it occurs on the stock market or the blockchain.” FBI Assistant Director Michael J.

Treasury 66

Treasury Technology Marketability 66

Musings on Markets

FEBRUARY 12, 2022

In the midst of all the action, to no one's surprise, have been six stocks (Facebook, Amazon, Netflix, Google, Apple and Microsoft or FANGAM) that have largely driven US equities for the last decade, roiling the market with their most recent earnings reports. to 14.9%.

Market Capitalization 98

Market Capitalization Equity Marketability Start-ups 98

Reynolds Holding

OCTOBER 1, 2023

15 Question: In periods prior to pursuing an initial public offering, a private company may grant stock awards or option awards. For outstanding stock awards and option awards, the calculations required by Item 402(v)(2)(iii)(C)(1) of Regulation S-K should be determined based on the change in fair value from the end of the prior fiscal year.

Compliance 40

Compliance Equity Marketability Corporate Finance 40

Reynolds Holding

SEPTEMBER 9, 2022

The Securities Act of 1933 was about companies raising money from the public. They understood that, when advisers manage someone else’s money, there may be additional opportunities for conflicts of interest between those advisers and clients. Congress knew the job still wasn’t done. Crypto Tokens.

Marketability 49

Marketability Compliance Start-ups Banking 49

Musings on Markets

SEPTEMBER 19, 2023

Coming in the week after ARM, an AI chip designer, also filed to go public, but with an estimated pricing of $55-$60 billion, it is an indication of how much the ground has shifted under Instacart since the heady days of 2020, when Instacart was viewed by some Americans as the only thing that stood between them and starvation.

Start-ups 102

Start-ups Marketability Technology Equity 102

Brian DeChesare

JANUARY 5, 2022

The year started with the GameStop short squeeze (I deleted the article, sorry – blame the trolls in the comments) and continued with more meme stocks and a crypto melt-up, crash, and recovery (??). Meanwhile, indices like the S&P and Nasdaq shrugged off everything and posted annual returns between 20% and 30%.

Start-ups 52

Start-ups Marketability Equity Banking 52

Brian DeChesare

MAY 11, 2022

And if you have more than 3 – 5 years of pre-MBA full-time work experience and then do an MBA , it will become difficult to win an Associate-level role (most are under the age of 30 , but the upper limit is probably closer to 35 ). You also need to take orders from crazy and deranged people above you without questioning them.

Banking 98

Banking Start-ups Finance Private Equity Firm 98

Brian DeChesare

JULY 20, 2022

23:20: Recap and Summary. In the first step, a SPAC “Sponsor” forms an empty holding company, puts in minimal capital in exchange for 20% of the shares, and markets the SPAC to investors, usually at $10.00 Also, everything in tech/growth/speculative stocks is down by a huge amount in 2022. 9:03: Part 2: SPAC vs IPO: Performance.

Start-ups 52

Start-ups Marketability Equity 52

Reynolds Holding

APRIL 3, 2023

On March 20, 2023, President Biden signed the first veto of his presidency, rejecting the anti-ESG measures. That resolution proposes to divest $2 billion of investment under management by BlackRock due to its putative use of ESG standards. Notably, except the fossil fuel giant ExxonMobil at the 15th spot, there is no energy stock.

Equity 59

Equity Banking Technology Marketability 59

Farrel Fritz

FEBRUARY 13, 2023

Nine months ago, we wrote about a 20% shareholder, Alvin Clayton Fernandes, whose bare bones petition Manhattan Supreme Court Justice Frank P. A Missed Opportunity Unfortunately, in the Decision and Order in Fernandes , the Court declined to reach the untimeliness question, ruling: “While respondent has identified an elective stock buyback.

Appraisal 52

Appraisal 52

Benzinga

OCTOBER 20, 2022

The transaction reflects a pre-money equity value of $400 million for AUM Biosciences. 20, 2022 (GLOBE NEWSWIRE) -- AUM Biosciences Pte. The transaction reflects a pre-money equity value of $400 million for AUM and is expected to close in the first quarter of 2023. Company to expand US operations and clinical programs.

Equity 40

Equity Marketability 40

Reynolds Holding

MARCH 24, 2024

The basic bargain that President Franklin Roosevelt and Congress laid out 90 years ago was that investors get to decide which risks to take so long as those companies raising money from the public make what Roosevelt called, “complete and truthful disclosure.” 7] A mandatory disclosure-based regime helps protect investors.

Marketability 45

Marketability Market Risk Compliance Start-ups 45

Brian DeChesare

MARCH 13, 2024

Others would counter that growth equity’s rapid ascent was mostly due to the easy money that persisted between 2008 and 2021. the Founders sell some shares to take money off the table, but “the company” doesn’t get any of that cash). Debt financing is much more common, and the GE firm is often the first institutional investor.

Equity 90

Equity Start-ups Marketability Banking 90

Brian DeChesare

MARCH 13, 2023

This happened to the entire banking system over the past few years due to the amount of money printing during covid, but it was particularly extreme for SVB. They needed to do this because depositors started withdrawing their money in larger numbers, and SVB did not have enough cash to meet the expected withdrawals.

Banking 107

Banking Start-ups Equity Treasury 107

ThomsonReuters

AUGUST 2, 2021

under the Private Securities Litigation Reform Act of 1995 (PSLRA). . SPAC shells, which have no operations of their own, are generally formed by a group of investors called sponsors, who raise money from other investors. Units of a SPAC’s IPO are registered under the Securities Act on?a Warrants are covered under?FASB

Corporate Finance 52

Corporate Finance Equity Finance Compliance 52

Reynolds Holding

NOVEMBER 9, 2023

A key concept under the rule of law is that similarly situated people should be treated similarly. These areas are: (1) the scope of the definition of a dealer under the Securities Exchange Act of 1934; (2) cryptocurrencies; and (3) off-channel communications by broker-dealers. Do you write derivative contracts that are securities?

Marketability 53

Marketability Compliance Equity Technology 53

Musings on Markets

JANUARY 19, 2022

In a post at the start of 2021 , I argued that while stocks entered the year at elevated levels, especially on historic metrics (such as PE ratios), they were priced to deliver reasonable returns, relative to very low risk free rates (with the treasury bond rate at 0.93% at the start of 2021).

Risk Premium 80

Risk Premium Risk-free Rate Start-ups Equity 80