Our take on the investing, financial, & economic themes of the day

When Start-Ups Take Investors’ Cash Just Because They Can

25 June, 2015 by Matthew O'Brien, Ph.D. in Commentary
When the music stops, in terms of liquidity, things will be complicated. But as long as the music is playing, you’ve got to get up and dance. We’re still dancing. — Chuck Prince, CEO, Citigroup (June 2007) The music is still playing for “disruptive” start-up companies and ... read more...

The Decline of Community Banks

23 June, 2015 by Matthew O'Brien, Ph.D. in Commentary
The Wall Street Journal reports today on a partnership between the online consumer lending start-up Lending Club and 200 community banks around the country.  The statistic in the article that struck me was this: Community banks—those with less than $10 billion in assets—made slightly more than ... read more...

Is the Social Media Bubble Finally Popping?

4 May, 2015 by Ben O'Brien in Commentary
Two-year Chart of Twitter, Yelp and LinkedIn  We’ve been keeping an eye on the overheated tech sector for a while. The tech industry is segmented into many pockets, some of them in bubble territory while others remain fairly well-grounded. Social media is one of the most dangerously ... read more...

Wise Words from Charlie Munger

1 April, 2015 by Ben O'Brien in Commentary
(Source: Charlie Munger is Warren Buffet’s right hand man, the vice chairman of Berkshire Hathaway. He is widely followed by investors for is wide-ranging and often contrarian insights on business and life. Munger wears many hats, and one of his less known roles is his position ... read more...

Bubbles and Dead Unicorns: A Technology Investing Update

20 March, 2015 by Ben O'Brien in Commentary
Last summer I wrote a series of posts on the debate about whether or not there is a bubble in technology stocks and start ups. Less than a year later the situation has escalated substantially, and one of the most vocal defenders of tech stocks from last year is now urging caution. My comments ... read more...