July 12, 2012
A recent Forbes article describes the alternative fee problem, how to reasonably price legal fees using something other than an hourly basis, as a potential application of big data analysis. Conveniently, we said this over three years ago in describing...
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February 16, 2011
Here’s a brief quote from an interview with an entrepreneur turned angel investor about types of startup risk: Angels will largely take a product risk (they bet on the product or idea and your ability to build it). “A” round...
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February 1, 2011
Fred Wilson has had a series of posts relating to M&A transactions, generally revolving around case studies. This one on ChiliSoft describes how certain features embedded in the capitalization table (liquidation preferences and floating price warrants), coupled with being acquired...
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October 7, 2010
Where TSC has become involved in the detailed analysis of investment portfolios, we’ve chosen to focus on the massive amount of data that is in fact sitting on the books of financial advisors, rather than on broad market segments standing...
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October 7, 2010
The NYT displayed some confusion about finance realities in this older column about net operating losses, a perennial “favorite” topic of ours. We’ve done some complex planning (aka invent new deal structures) for a corporation and its shareholders that held...
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September 23, 2010
This finance link post from the team at 37Signals briefly compares Apple’s share of the mobile phone market (apparently by volume) with its share of the profits in that market: Market share is irrelevant if you can’t turn it into...
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December 5, 2009
This WSJ article on identifying and analyzing mutual funds is interesting because of what’s not there. The article describes a new study by Fama and French, the prolific finance authors who continue to study the efficient market hypothesis and the...
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June 16, 2009
We recently wrote about alternative fee structures for large law firms and their clients. A post from the WSJ law blog on Kirkland & Ellis’s foray into the field recognizes a point we’ve made before: some companies (and indeed, most...
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June 9, 2009
Just recently, we published another post regarding stock buybacks and how the math is the math: you can change your risk profile, but in any case, at some point the usage of cash to buy stock makes sense as a...
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June 2, 2009
[NB: this post was started quite some time ago, and it recently re-surfaced in our ‘drafts’ folder. Sorry for the delay, but we believe that the underlying issues are still interesting and how companies use cash is more, not less,...
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March 27, 2009
(NB: This is a revised repost from Rick’s blog. We realized it might be helpful here.) This recent Seth Godin post was another timely suggestion from him. He seems to really have a finger on the pulse of what is...
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March 24, 2009
This short summary notes that IRC Section 409Ais now effective (actually as of January 1, 2009). While there are number of well-known types of deferred compensation that are subject to 409A, there is one area where the exact application of...
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January 3, 2008
“In preparing for battle I have always found that plans are useless, but planning is indispensable.” We use this phrase a lot in two contexts: first, we freely admit, and accept, that our plans may not work out as expected,...
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March 6, 2006
A recent Fortune article by Geoffrey Colvin discusses the relatively low percentage of debt in the capital structure of a large percentage of US public companies (he cites that “25% of the Russell 3000 have no debt or negative debt”)....
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