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In Search of a Steady State: Inflation, Interest Rates and Value

Musings on Markets

The nature of markets is that they are never quite settled, as investors recalibrate expectations constantly and reset prices. Investors who are old enough to remember the 1970s point to it as a decade of high inflation, but that is only with the benefit of hindsight.

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The Sharing Economy come home: The IPO of Airbnb!

Musings on Markets

Along the way, investors in the company rapidly escalated their pricing of the company from $1 billion in 2011 to $10 billion in 2014 to more than $30 billion in 2016. In this post, I will argue that there are good reasons for Airbnb's IPO timing, and make my first attempt at valuing this latest entrant into public markets.

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Will Snapchat Get Snapped Up Or Snap Back?

PYMNTS

The app that got famous for its disappearing messages is looking like it will either need to raise a some capital by sometime in 2019 or run the risk of going broke, according to a note by MoffettNathanson. Snapchat , according to recent reports , is having cash flow troubles. Nathanson went on to slash his revenue estimates for Snap Inc.

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Transcript: Steven Klinsky

Barry Ritholtz

What made you pursue that? My grandfather and grandmother had a store for 30 years in Detroit called Albert’s where they sold women’s clothes, and we had been built into a chain by my dad and my uncle.  The transcript from this week’s, MiB: Steven Klinsky, New Mountain Capital , is below. KLINSKY: Well, thank you.

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Transcript: Michael Carmen, Wellington

Barry Ritholtz

And so we’ve grown from a very small company with 29 partners back in 1979 to, as you noted, over a trillion dollars of assets and it become very diversified. So fixed income is now a substantial percentage of our assets. Barry Ritholtz: 00:00:06 This week on the podcast, I have an extra special guest. It was April of 99.

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Transcript: Ted Seides

Barry Ritholtz

I got lucky in the sense that when I was an undergraduate at Yale, I took a class with David Swensen. I had a mild passing interest in it, but he mentioned in this class that they hired one person a year.  The transcript from this week’s, MiB: Ted Seides, Capital Allocators , is below. Great to be here with you. RITHOLTZ: God.

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Transcript: Kathleen McCarthy

Barry Ritholtz

She and her team manages over $565 billion in real estate assets. Blackstone has been in this space for over 30 years, according to their 10-K filings, their opportunistic fund is up 16 percent a year over those 30-year periods. What was that like? That’s really an astonishing return.