Sublime
An inspiration engine for ideas
For consultants and dealers, buying in the room acts as an advertisement for their services.
Sarah Thornton • Seven Days in the Art World
Howie, inside Morgan Stanley, would lose $9 billion on a single mortgage trade, and remain essentially unknown, without anyone beyond a small circle inside Morgan Stanley ever hearing about what he’d done, or why.
Michael Lewis • The Big Short: Inside the Doomsday Machine
A former investment banker reveals how late hours and Adderall abuse led to an insider-trading scheme—and prison https://t.co/0tKgufxwmq
The Wall Street Journalx.comA decade ago, I learnt about a most innovative corporate scam.
We were hiring a CFO for a portfolio company, and the best applicant was the CFO of a much larger, recently PE-funded company. This was puzzling because CFOs usually measure their worth through balance sheet size.
Ritesh Banglanix.comBut it wasn’t the exchange that covered the loss: the exchange did not have the capital to cover the loss. The losses were socialized. The customers—usually those on the winning end of the trade—paid for them. And the losses could be huge. The Chinese-founded exchange Huobi had one loss so big that it docked all traders on the profitable end of
... See moreMichael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
Agency Stuff
Chelsea Matthews • 1 card
Don’t ever let me catch you investing in a 3rd-layer SPV.
I don’t care how hot the startup is, or how great the returns in the underlying company might be. It’s a con, you’re the mark, and you’re going to bleed out on fees.
If you’re not familiar with a 3rd-layer SPV, it’s an SPV (special... See more
agency stuff
Joe Maceda • 3 cards