manyhats

5 ms·

1.
by manyhats 6y ago
Equities in a given sector, whether public or private, tend to be highly correlated, but external observers just don't really get the full picture unless they dig into the specifics of the situation. IME, private marks in aggregate are
2.
by manyhats 6y ago
I disagree on the choice of benchmarks as they're not really comparable. A more comparable benchmark for angel investments in Internet / SW startups would be a broad-based ETF that covers those. Picking a couple of the larger on
3.
by manyhats 6y ago
Good explanation. I'll nudge it even more with a Scenario C to further illustrate that ignoring non-cash comp leads to an distorted picture. Scenario C: Company hires an engineer with zero base salary and $200k/year worth of stoc
4.
by manyhats 8y ago
1. It's important to distinguish between liquidity risk and solvency risk. Liquidity risk is needing to sell an asset that is fundamentally sound and not being able to get a fair price, or any price at all (as happened in 2008/200
5.
by manyhats 8y ago
Suggest that readers look at cloud revenue from a business model perspective, not a technology one. Cloud revenues between Amazon and MS are comparable from an investment point-of-view: - sticky (unless something bad happens, if you're
6.
by manyhats 10y ago
The "crash" wasn't a day-long, week-long, or even month-long stock pricing event, but lasted 6+ months from the first tech sector to the last going through the crash. The first stocks to get hit were the web 1.0 properties in
7.
Tucows Cuts the Crap (removes ads from their download site)(tucows.com)
2 points by manyhats 10y ago|3 comments
8.
by manyhats 10y ago
Consider other historical antitrust battles. It's often not about dominance in one niche, but leveraging that dominance into other areas and limiting innovation there. By your assertion, you would be happy to have had IE tightly integ
9.
by manyhats 11y ago
It can be spiral-like locally without it necessarily being so nationally or globally. Ask your average roughneck or metal bender in Texas or North Dakota about layoffs, salary cuts or personal spending trends and you'll find all of th
10.
by manyhats 11y ago
If you're trading, USO is fine. If you're investing on a longer-term horizon (a year or more), the monthly futures roll where the USO fund sells the current month's oil contracts (because it doesn't want the actual oil t
11.
by manyhats 11y ago
Nearly all cruise ships currently charge for Internet access by the minute, not the bit, and throughput can vary widely. Typical prices start around $1/minute and with bulk minute purchases, may get down to $0.30/min. This is sta
12.
by manyhats 11y ago
The least costly line I know of is Pullmantur. Their repositioning cruises across the Atlantic are frequently under $50/day for a solo passenger. US$37 / day at current exchange rates and including taxes and semi-obligatory gratu
13.
by manyhats 11y ago
SS is scaled based upon the average income as computed over a person's working life. Since he's got lots of zeros in the calculation, and there's a cap on the SS wage computation ($37,800 in 1984) his SS-calculated income is
14.
by manyhats 11y ago
It's not free if you become an employee and need to put in time to maintain it. Think of it like a fast food franchise - you're buying a job, not a passive income stream.
15.
by manyhats 11y ago
In this environment, it's very difficult to price IPOs "correctly". I'm no longer involved in that aspect of the business, but I was in the late 90s, and the same thing happened back then. Basically, in a "normal&q
16.
by manyhats 11y ago
Adding a little more detail on the mechanics of a typical capital markets raise to your answer, there's an overallotment on the "target" raise, which the bookrunner (lead underwriter) will use to stabilize the price. For exam
17.
by manyhats 11y ago
Yes, it's very uncommon (but not unheard of) to have large blocks of stock that aren't locked up in an IPO. For SHOP specifically, 99.9% of the Class B stock (i.e., stock outstanding pre-IPO) is locked up for 180 days. (See under
18.
by manyhats 11y ago
Dutch auctions have been tried before, with mixed results, most notably by Google. The article below reviews the GOOG IPO. It's not entirely accurate in all the details (e.g., that GOOG would have paid a 7% fee (pg 429) - in reality,