Blog: The Ripple
We love what we do, so ClearCreek writes and publishes pieces for a somewhat irregular blog about emerging companies and the capital markets. Or we did for a while anyway, then we did less, and apparently we stopped entirely. But we kept the old posts below. Any errors are ours exclusively while the occasional sharp insight is probably borrowed. We hope you find them of interest, and we always welcome feedback.
The Year Of IPOing Dangerously
Just less than a year ago, on December 21st of 2018, an article in The Motley Fool listed the seven most anticipated IPOs of 2019. Here are the four companies that made it out the door, with the S&P 500 for comparison. Slack is down 56%, Uber is down 55%,…
PE Partnership Transitions: Greed vs. Legacy
Leadership transitions within private equity firms are icebergs: sometimes the tips are spotted in the distance, but the vast majority are usually out of sight and only significant in a catastrophe. Large crashes became well-known, but even then information is largely anecdotal — stories passed around with cocktail glasses…
Reading List: Herbalife Shorts
Finance is rarely entertaining. But when it is, it’s a doozy. Last year the activist hedge fund titan Bill Ackerman bet that Herbalife — a company with 33 years of history and $3.5 billion in annual revenue — was a souped-up pyramid scheme…
Private Equity under a Political Lens
The ascension and resistance to the presidential aspirations of former Bain Capital head Mitt Romney has lead to a sudden mainstream focus on private equity – even when Romney is mistakenly identified as a venture capitalist. Fortune Magazine’s Dan Primack sees plenty of faults on both sides…
The Things They Carried
Amid financial and regulatory oil slicks is an ongoing debate about carried interest, which Warren Buffet once characterized by asking why his receptionist was paying a higher tax rate than he was. She did so because investment funds…