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Interest Rates Lower; Business Prices Higher

Martinka Consulting

I represent a lot of business buyers and often I hear something like the following, “I won’t pay more than X times cash flow” (or profit, or EBITDA – pick your term). or 4, times cash flow” won’t get the deal when the bank will lend that amount or more.

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$550 Billion Energy Junk Bond Bubble Busts; "Whac-A-Mole" Distortions in Multiple Markets

MishTalk

Energy production is extremely capital intense, and often accompanied by negative free cash flow. Energy investment added to GDP since 2010, with $550 billion in bond and loan offerings. percent notes, issued in December 2010, have tumbled to 64 cents on the dollar from 106.3 The Houston-based company’s $750 million of 9.25

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Consultant Ninja: When "hedging" is just speculation: Management.

Consultant Ninja

Uniteds fuel hedging strategy has all the marks of some smooth-talking consultants or bankers. The Company’s cash flows and results of operations have been adversely impacted by these factors as indicated by its net loss of $5.3 Just buying the calls would have been a much better (if more cash intensive up front) strategy.

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Fed Balance Sheet vs. Stock Market; Will QE Cause Inflation?

MishTalk

” It’s worth observing that the 10-year Treasury yield is also well above the weighted average interest rate since 2010 (weighting by the quantity of Fed purchases), which means that the Fed is underwater on its holdings. or financial instrument, or to participate in any particular trading or investment strategy.

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2016 ECS Value Creators Report: Building Endurance

BCG

Beyond being in the right place, or having the right skills, at the right time, many of these companies have pursued strategies to maximize their advantages in the challenging environment. ECS technology companies represent an intriguing bright spot, substantially outperforming the ECS industry as well as the S&P 500 since 2010.

Report 40
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The Comprehensive Business Case for Sustainability

Harvard Business

Yet executives are often reluctant to place sustainability core to their company’s business strategy in the mistaken belief that the costs outweigh the benefits. Managing risks therefore requires making investment decisions today for longer-term capacity building and developing adaptive strategies. Fostering innovation.

Study 28
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Do Lawyers Make Better CEOs Than MBAs?

Harvard Business

For the past several years, Wells Fargo has been run by MBAs, while Bank of America’s CEO since 2010, Brian Moynihan, has a law degree from Notre Dame. In addition, firms with lawyer CEOs seemed more likely to deploy strategies that are associated with less litigation, and their firms experienced lower volatility.