Mean Reversion: Gravitational Super Force or Dangerous Delusion?

In my last post on the danger of using  single market metrics to time markets, I made the case that though the Shiller CAPE was high, relati...

Superman and Stocks: It's not the Cape (CAPE), it's the Kryptonite(Cash flow)!

Just about a week ago, I was on a 13-hour plane trip from Tokyo to New York. I know that this will sound strange but I like long flights for...

The Bonfire of Venture Capital: The Good, Bad and Ugly Side of Cash Burn!

In my last post on Uber, I noted that it was burning through cash and that this cash burn, by itself, is neither unexpected nor a bad sign. ...

The Ride Sharing Business: Is a Bar Mitzvah moment approaching?

I did a series of three posts on the ride sharing business about a year ago, starting with a valuation of Uber , moving on to an assessment...