Wall Street Financier: Notes from High Altitude©
He who makes a beast out of himself gets rid of the pain of being a man.
I wrote a few times on this platform about SPACs and the robbers of gilded age (wink, wink, Chamath) and so did many publications (The New Yorker, etc). It appears the SPACs boom is coming to an end ? The WSJ looked at the SPAC landscape in an article last …
““I want the fucking money,” he told students at Stanford’s business school, in 2017. “I will play the goddam game, and I will win.” -Chamath Palihapitiya SPACS Lord Chamath is portrayed in the first June issue of The New Yorker. Of hedge-fund managers: “Let them get wiped out. Who cares? …
The name of this December 2019 post on HBR by Greg Satelle tells it all: Why “Move Fast and Break Things” Doesn’t Work Anymore “Over the coming decades, however, agility will take on a new meaning: the ability to explore multiple domains at once and combine them into something that …
So here we are with even the SEC warning against the pitfalls of SPAC-endorsed investments. “It is never a good idea to invest in a SPAC just because someone famous sponsors or invests in it or says it is a good investment. ” –SEC released note: Celebrity Involvement with SPACs – Investor Alert. …
A “sample” of 13 Analysts working at Goldman Sachs and making $150 -160,000 a year (way more than they’re worth) came out with a protest letter last month, arguing that they work too much…too hard. Generation Z…is the the weakest generation. But it’s not just that. This culture is the… …
SPACS have taken the dealmaking business by storm in 2020. “Hedge funds give the SPAC money for up to two years while it looks for a merger target. In return, they get a unique right to withdraw their investment before a deal goes through that minimizes any loss on the… …
Yup. Bill Ackman, 2020. The Covid-shit year. There will always be those -albeit few-who make more money than God when the economy goes to shit. “In the space of three weeks, as Covid-19 was engulfing the globe, Ackman turned a $27 MM premium paid to buy credit default sweeps into …
An easy primer for you finance literati was written here @Tech Crunch , and that includes answering the MOST asked question about them: how much do Spacs sponsors make ? “The rough rule of thumb is 2% of the SPAC value, plus $2 million.” and the 2nd most asked question, …
I’ve never seen that many businesses taking capital via SPACs as lately. This week, RedBall Acquisition, a SPAC focused on buying a professional sports franchise, filled for a $500 million IPO. It’s sponsored by private equity firm RedBird Capital Partners, and co-chaired by former Oakland A’s executive Billy Beard. “In… …
