Reynolds Holding

MARCH 21, 2023

Corporate insiders engage in “shadow trading” when they use private information about their own firm to trade in the shares of economically connected companies such as suppliers, customers, or competitors. While legal scholars have long recognized that shadow trading can be profitable, SEC v.

Marketability 105

Marketability 105

Musings on Markets

FEBRUARY 27, 2023

All that said, businesses around the world have borrowed money though time to fund their operations, sometimes for good reasons and sometimes for bad, and over time, these businesses have also faced cycles of too much debt leading to painful cleansing.

Equity 52

Equity EBITDA Start-ups Net Debt 52

Musings on Markets

JANUARY 27, 2021

In general, storable commodities provide buyers with the option of buying when prices are low, and storing the commodity, and for that reason, futures prices of storable commodities are tied to spot prices and storage costs. The second is storability, with storage costs ranging from minimal with some commodities to prohibitive for others.

Start-ups 52

Start-ups Marketability Equity Treasury 52

Musings on Markets

NOVEMBER 1, 2023

In valuation terms, that results in a company whose value shifts with narrative changes, creating not only wide swings in value, but vast divergences in opinion on value. Put simply, the possibility of other businesses that Tesla can enter into adds optionality that I have not incorporated into my value, and that acts as icing on the cake.

Start-ups 114

Start-ups Marketability Market Capitalization Equity 114