CFTR Week to Jan 31st

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January 31, 2021

 A good mix of reads this week – the Game Stop  David and Goliath battle was front and centre. The reads we highlighted this week were John Auther’s view that the GameStop and wider  phenomena is driven by anger, not greed; Aswath Damodaran’s valuation and take on $GME and finally a piece explaining what a “Gamma Squeeze” is.

For the Credit Nerds there is plenty. The European High Yield Survey results are in proved extremely popular on the Bloomberg Terminal.  A presentation on the UK’s first cross class cram-down by law firm Kirkland and Eliis, ESG in High Yield Courtesy of Elfa, a fantastic chartbook from Pitchbook summarising European PE in 2020 (deal size, multiples, leverage, exits) , more on the new German restructuring law and a paper on CDS and manufacturing defaults. Lastly an update by Stephen Clapham on Netflix – calling out aggressive accounting and explaining his thought / analytical process. Whilst not a Coffee Time Read we also include 9Fin’s “Top of the Market Scorecard” as we think it is great.

Macro wise there are a few pieces – one on Central Banks and the Bubbles they are blowing as well as the World Economic Forum’s Uncertainty index – turns out the US and UK have an “uncertainty spill over”, the article is also a good example of the use of text mining. ING Think published an article on the “Delayed Misery” of bankruptcies that they expect to emerge as corporate stimulus and aid are unwound.

On the personal development front – an Article on  Personal monopolies and how to exploit your edge, “10 Questions that Changed my Life” from Greg Isenburg, and 7 great books for machine learning in python (various difficulty levels).

We are currently reading “Calling Bullsh*t: The Art of Skepticism in a Data-Driven World”,
we would highlight two Coffee Time Reads from the week of the 17th that we think highlight the importance of being able to call bullsh*t. The first is the Capitol Hill riots and the data footprint left behind by the rioters collated by propublica.org – videos, geo-location, pics – it is quite the expose on what data your mobile collects. The second is the FT’s article ” We’re living in a golden age of ignorance”. – about misinformation and disinformation.

As always click on the link in the tweet to take you to the article. Follow us on Twitter, @EuroYield

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