Valuation

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Blog

05NOV 2019

Might recent ‘unicorn’ IPOs encourage investors to be more rational?

If the recent run of disappointing unicorn floatations ends up encouraging IPO investors to be more rational about where they direct their money, that would be a step in the right direction

2019

JULY

11JUL 2019

Blog

Investment Warnings: Beware these record highs in private equity

We keep a folder of ‘red-flag market indicators’ – developments that make us very uneasy indeed – and one of them is the record-high debt levels with which some private equity investors appear a little too comfortable

09JUL 2019

Blog

Market perceptions can change unexpectedly – and share prices follow

As value investors, our job could be characterised as aiming to buy good businesses with some form of poor market branding and then waiting patiently for market perceptions to change

05JUL 2019

Blog

Why investors should think hard before feeding a ‘unicorn’

We are all for technology and entrepreneurship, here on The Value Perspective, yet we do not believe buying so-called ‘unicorn’ businesses on elevated valuations is, on average, a sustainable way to make money

FEBRUARY

05FEB 2019

Blog

How value can help prepare for the ‘Brexit test’ – whatever it may be

How we have been preparing our portfolios for whatever Brexit brings has, unsurprisingly, been a question we have fielded with increasing regularity in recent months and years, here on The Value Perspective

2018

DECEMBER

14DEC 2018

Blog

How a measure of bitcoin’s worth proved worthless

This time last year, we suggested a new valuation measure being touted by the cryptocurrency sector was meaningless – and, as bitcoin trades at less than a fifth of its all-time high, its advocates now seem to agree

OCTOBER

22OCT 2018

Blog

Why this Chinese oil giant subsidiary may not be as great as it looks

Financial strength is a crucial consideration for value investors. Here is an example of the kind of work that can be necessary to build up a proper picture of a company’s health from its balance sheet

19OCT 2018

Blog

Beware markets that view losses as ‘the new profits’

2018 is on course to beat even 2000 as the record year for flotations by loss-making companies – suggesting investors are now as enthusiastic as they were at the end of the dotcom boom to pay up for future hope