Coffee Time Read to 14th Feb

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February 14, 2021

A bit of a short bent this week. Carson Block making 2 appearances – his editorial in the FT on the “Stonk Market” and if there is one thing you watch, make it this – his discussion of market structure with Mike Green of Logica Capital Advisors.

There is also a great interview with Stanley Druckenmiller on the current state of the markets “Buckle up.. this is about the wildest cocktail I have ever seen”.  The Heisenberg report asks the question”Why do we often ignore, to our detriment, the more commonplace White Swan” in an article that summarizes the latest views of Harley Bassman.

Energy was also a bit of a theme – there is the FT’s big read on the impact of Carbon pricing, Dylan Grice on why Oil has legs and a Project Syndicate Blog on why Europe could/should seize the reigns to lead in ESG.

For the Credit Geeks – there is Reorg’s podcast on the recent ASDA deal’s covenants and KME. There is the Luckin Cofee short paper – a good insight into what goes into identifying a short as well as the effort professional short research. Then we have 3 pieces covering corporate zombies and Japanification, restructuring expectations and the impact of Covid 19 on UK corporates (have cash, but stresses emerging). Aswath Damodaran explains hurdle rates and there is the FT’s coverage of Silverlake’s “get out of jail free” exit of AMC.

On the personal development front there is McKinsey’s “Six problem solving mindsets for very uncertain times” which resonated strongly with us and the application of Akin’s laws for Space Craft design applied to investment Management. There is also the introductory video on Ergodicity from Ole Peter’s et al’s new Youtube Channel 

Finally there is the FT’s piece on Automation “The Robots are coming!” and what it means for the workforce and why it needs to be managed in order to be a force of good.

As always click on the link in the tweet to take you to the article. Follow us on Twitter, @EuroYield and if you want to receive the Coffee Time Reads, participate in Euro High Yield Surveys and get updated when membership opens you can subscribe to our mailing list at the bottom of the page.

While you are here we wanted to flag the accredited bond course we have produced in association with Wise Alpha. If you want a gentle introduction into bonds and high yield then have a look here

 

 

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