Hints and tips:
...) big enough to make a meaningful impact on Berkshire’s earnings, (b) possible to reliably value, (c) have trustworthy and competent management, and (d) are available at a reasonable price....
...But otherwise, give me a V-sweet C-suite job any time. As if anyone would....
...cash-pay; d) something else....
...TCI made $12.9bn for investors and ended last year up 33 per cent, ahead of the S&P 500 index’s 24 per cent rise....
...At nearly 12 per cent it dwarfs the 7.5 per cent that US high-yield bonds pay, and is close to the effective yield of super-junky triple-C bonds....
...Washington D.C., March 18, 2024 — The Securities and Exchange Commission today announced settled charges against two investment advisers, Delphia (USA) Inc. and Global Predictions Inc., for making false...
...to c.$1.2bn....
...The AI meeting is a British initiative, taking place alongside the G7’s “Hiroshima AI framework”, which has been set up to co-ordinate global regulation of the new sector....
...To shamelessly reuse a meme: (We’d love to talk about renting more....
...From S&P’s definitions: A short-term obligation rated ‘D’ is in default or in breach of an imputed promise....
...Unhedged has written at tedious length about private credit, 2023’s hottest asset class....
...The S&P 500 is within a per cent or two of taking out the all-time high it set in late 2021. Most bond funds are likely to end the year with gains, too....
...In the case of the McKinsey report published in 2020, the main study gathered data about diversity on the boards and in the C-suites of more than 1,000 large global companies....
...“Tape Loops B & C” are continuous improvisations which, divided into multiple parts, most capture the feel and spontaneity of a tight-working band....
...Housed in the Unité d’habitation — the most famous of the Swiss-French architect’s modernist housing developments throughout Europe — the 21 bedrooms are a monument to a modernist utopia that might have...
...Under 28 U.S.C. section 1408, a company can file bankruptcy in any district where it has its domicile, principal place of business, or principal assets for 180 days prior to bankruptcy....
...As ratings drop to C and D, the risk of default rises accordingly Developing nations with bad borrowing records may fall into these buckets....
...Rana, I’d be very interested in your take on the executive summary. Forewarned is forearmed!...
...Subscribers rose to a peak of 3.41mn in 2019’s accounts, but this figure was restated as just shy of 2mn in 2020’s accounts, and then as 1.1mn in 2021’s accounts....
...“Is it true that triple-C firms have interest coverage ratios below 1? Definitely, but that’s always been the case....
...But many English words have penetrated everyday language, like “boring” (“c’est un peu boring, ça”), “bullshit” and “cute” (“mais il est trop cute”)....
...And we’d like to think that Paris Saint-Germain is part of that.”...
...Chart from S&P Global, through September: Part of the reason for this is that companies are making money....
...The CEO in the S-1 document, the public filing to take Reddit public, had a very unencouraging quote about his understanding of what and how Reddit works....
...High-yield (“junk”) bonds pay 8 per cent, and the lowest-quality triple-C junk yields 13 per cent....
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