Posts in Finance

Bitcoin and Anarchy

A lot of people think that if Bitcoin is adopted it means anarchy.  I don’t think that is correct.  I was reading “Is Bitcoin The World’s Next Major Currency?” in Chicago Booth’s Capital Ideas magazine. Sorry, no link to the …






Taxing Trump

There are a lot of inconsistencies in the American tax code.  Anyone that pays taxes knows it.  Some are put there because the writers of the tax code want to be “fair”.  What I have found in my life is …






The Business Blockchain

My friend William Mougayer wrote a book called The Business Blockchain.  It’s a great book for anyone looking to understand what the whole Bitcoin thing is about.  I have blogged about Bitcoin in the past.  It’s highly interesting to me …






Let The BlockChain Go

Wednesday evening I was on a Fin Tech panel at 1871 in Chicago. One of the reasons I love investing in Fin Tech is because innovation can smooth the speed bumps that exist in the system which stop people from …






Do You Think Bitcoin is A Fad or Fraud?

My friend William Mougayar has been researching Bitcoin for a long while now. He is coming out with a book on it. In the meantime, here are some snippets of what he has learned. I think that Bitcoin could be …






How Can The US Win the Corporate Tax Battle?

An attorney friend of mine sent me this video.  It’s recent testimony from a tax attorney who works with corporations.  In many ways, it’s heartbreaking. It’s slightly edited for brevity, but here is a link to the entire testimony. I …






Ideological Investors

Last night was the Republican debate.  I didn’t watch it.  I didn’t watch the State of the Union address either.  Most of the time, politicians just say things that are made for television soundbites.  One of the reasons Trump is …






Never Pay For An Introduction

If you are a startup, never pay for an introduction. If you are fundraising, never pay for an introduction.  If you want to meet a customer, never pay for an introduction. Many people try to “service” the startup community by …






Some Data on the Tech Bubble

There is a lot of consternation over a tech bubble. I saw a graphic tweeted the other day that showed how many companies were valued over $1 billion dollars. Yesterday in Chicago, Uptake joined the billion plus club when they …






Carried Interest Taxes

Donald Trump said the US should start taxing the carried interest hedge fund, venture capitalists and private equity managers make. It might help people understand what carried interest is before they decide if it should be taxed or not.  The …






Corporate Cash And Corporate Balance Sheets

In the US, there is more cash on corporate balance sheets than ever before. There is more cash inside of banks than ever before. But, if you are a student of accounting you know that if one side of the …






Who Understands the Market?

The answer is you can’t.  I have seen a lot of weird stuff since I got involved with markets in 1986.  The last two days have been pretty weird, but not the weirdest.  I was reflecting at Marc Suster’s blog …






What are the Top Ten Future Trends?

It is awfully hard to make predictions into the future.  Just check the data on how often any macroeconomics person gets it right.  Rare.  It’s so much easier to make short term inferences.  But even those can be screwy.  Look …






Who Gets What When

Recently read a book by Professor Alvin Roth.  He is a Nobel Prize winner in economics.  It was pretty interesting.  His specialty is matching markets. The book is titled, Who Gets What — and Why: The New Economics of Matchmaking and …






The Myth of the Robotic Investor

Yesterday I left a comment on Albert’s blog and he told me to turn it into a blogpost.   Eugene Fama postulated that investors are rational.  He developed the efficient market hypothesis and proved it with data.  By the way, …






The Bag Holders Are Fully In Place

The Chinese manipulation of their market didn’t last long. 20 days. Now they have run out of buyers and they cannot attract foreign capital because it’s a one way “roach motel”.  Indigenous investors have run away. The Chinese government banned …






The Transition

Last night, I “debated” Emile Cambry at a Battleship event.  Emile runs Blue 1647.  Our topic was bootstrapping versus raising money.  I wrote about it on Medium here.  It’s the first time this sort of thing ever been done in …