Coffee Time Reads to 14th March

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March 14, 2021

A good selection if we do say so ourselves this week. First up is LSE’s Focal Point podcast where thy interview Dominic Ashcroft Co Head of EMEA leveeaged Capital Markets at Goldman Sachs. Lots of insight into how levfin deals come about, trends and Dominic’s own experiences. Well worth a listen. KKR’s Chris Sheldon , head of leveraged credit gave an interview with Bloomberg explaining where he sees opportunities and risks in today’s market which was insightful.

We have not one, but 2, items from Stephen Clapham Author of the Smart Money Method and the owner of the “Behind the Balance Sheet Website” – the first is a video on accounting red flags and the second is the analysis of Cashflow From Operations (close to every analyst’s heart) of Amazon.

Inflation in the US has been garnering a lot of attention and we enjoyed Natixis’ Patric Artus with his latest publication pointing to why the market may be getting ahead of itself. To accompany this there are 2 articles looking at US households – one looking at how savings are more evenly distributed in the US vs. Europe and the second discussing “ricardian equivalence” and why that means those savings are not “excessive” in the context of the unprecedented government support.

Nouriel Roubini looks at the K shaped Recovery in the “Covid Bubble” warning that stock market valuations are excessive and when the bubble pops it will be lower income population that suffers the most. The World Economic Forum published a note on the “Shecession” summarizing findings by a PWC study that found women have born the brunt of the Covid pandemic in terms of job losses and hours dedicated to childcare as families work from home.

For the credit geeks there is the BIS Quarterly Review which has a section on Covid’s impact on corporate credit, S&P’s bullish 2021 Global Private Equity Outlook. We highly recommend all of the FT’s reporting on Greensil, we ave included Epsilon Theories excellent summary “How to Rob a bank” below.

Finally, on the geeky/ self improvement angle we enjoyed reading about the changes that are coming in internet privacy, the promise of quantum computers, why the universe is flat, why hydrogen is may play a larger part in clean fuel than we initially thought and Sahil Bloom’s explanation of the “Lindy Effect”.

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