Provoking Posts

Some investment fund presentations, just "don't make good sense."

What Would My Granddaddy Say? - Provoking Posts “Son, I wouldn’t do that. It don’t make good sense.” “Yes, Sir.” “I told you once, and ain’t going to say it again, don’t do that.” “Yes, Sir.” The next thing I knew, I was literally knocked off my feet. My Grandfather ran a one-man HVAC service business in Alabama (yes, I ca...

The following is a quote from a breakfast that I recently had with a long-time senior executive and UHNW private direct-deal investor. "We all know that the D and A in EBITDA can be 'delusional accounting' but it is 'accepted' so we work it." We were discussing how most everyone inside the business knows about the games that are all too often played with EBITDA, and other valuation and reporting metrics, but how they are now accepted by investors large and small so… [ 432 more words ]

Watch the Cash Flow - Provoking Posts The following is a quote from a breakfast that I recently had with a long-time senior executive and UHNW private direct-deal investor. “We all know that the D and A in EBITDA can be ‘delusional accounting’ but it is ‘accepted’ so we work it.” We were discussing how most everyone inside t...

This past weekend my family was fortunate enough to spend time on Martha’s Vineyard and I smiled when seeing this old sign again. It has sat for many years at the edge of a grass airfield – a simple weather-divining device involving only a stone and some pithy instructions. It is a little worn, but the message has endured. Not just because it’s funny, but because it serves as a commonsense reminder to pilots: … [ 676 more words ]

Rock Science - Provoking Posts This past weekend my family was fortunate enough to spend time on Martha’s Vineyard and I smiled when seeing this old sign again. It has sat for many years at the edge of a grass airfield – a simple weather-divining device involving only a stone and some pithy instructions. It is a little worn, ...