Blitzscale and Hope: Unicorns, IPOs and the Fear of Repeating the Late 1990s
Comment of the Day

September 25 2019

Commentary by Eoin Treacy

Blitzscale and Hope: Unicorns, IPOs and the Fear of Repeating the Late 1990s

Thanks to a subscriber for this report Epoch Investment Management Here is a section:

Eoin Treacy's view

A link to the full report is posted in the Subscriber's Area. 

I share some sympathy with the view that there are some private companies that have the majority of their growth in their future and not in the past. There is a rational argument that most successful companies in the stock market today was a private company once upon a time so there are obviously going to be some successes.

However, what I find particularly interesting is the agonising over the lack of covenants in the debt markets and the surge in leveraged loans, yet there is has been precious little commentary on the growth in dual class shares and the diminution of minority shareholder interests.  

Click HERE to subscribe to Fuller Treacy Money Back to top