Browsing All Posts published on »March, 2008«

Illustrating Market Value vs. Intrinsic Value with Starbucks

March 30, 2008

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Starbucks is favorite company of mine to use in various finance and business strategy lectures, (and to get a jolt before our Sunday strategy meetings at Altos Research). Over the past decade, Starbucks enjoyed a steady rise up, initiated aggressive international expansions plans, and with their recent reappointment of Harold Schultz as CEO, is now […]

Tips for Entrepreneurs from Sequoia Capital

March 23, 2008

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If you’re an aspiring entrepreneur, the “Ideas” page on the Sequoia Capital website is an outstanding resource. It’s rare (very rare) that a start-up can submit a business plan without any prior contacts and meetings with a venture capital firm and receive financing. But, this page is an outstanding primer of the themes and ideas […]

More on the Bear Stearns Valuation

March 22, 2008

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At market close on Thursday, Bear Stearns was trading at nearly $6/share, yielding a market capitalization of just over $800 million, nearly a tripling of the publicly-announced offer of $2/share ($236 million) from last weekend. The general consensus indicates that the real estate owned by Bear Stearns in New York City is worth about $1 […]

University of San Francisco Entrepreneur Team Wins 3rd place in Business Plan Competition

March 20, 2008

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Congratulations to Tom Monaghan (University of San Francisco, EMBA 2007) and Tesh Khullar (University of San Francisco, EMBA 2006) for their outstanding achievement in winning 3rd place in the National Seed Business Plan Competition in Santa Barbara last weekend. Tom and Tesh were one of 10 teams invited from among the 72 applications for the […]

Bear Stearns, Portfolios, and Waldo

March 20, 2008

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Where’s Waldo? Courtesy of the Bear Stearns 10-K for the year ending November 30, 2007: Some basic math indicates that 33.4% of Bear Stearns’ portfolio was held in Mortgages, mortgage- and asset-backed securities. Add the Derivatives line item and you come to 47.5% of their portfolio is relatively risky assets. So how does this compare […]

The first Internet IPO "Gold Rush" – in retrospect

March 17, 2008

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I found an interesting spot on the PBS website – dot.con – that was aired and published back in 2002. Now that we’re starting to get some perspective on the first Internet rush, reading these pieces in retrospect offers some valuable lessons going forward.

Venture Capital Investment Trends since 1995 (Deal Sizes)

March 17, 2008

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Another snapshot of data provided by PWCMoneyTree.showing the size per venture capital per deal in companies of various stages since 1995. The magnitude of the upward spike for Expansion and Late State companies is rather startling, but not surprising in retrospect, with the quick upslope from 1998 through 2000. Of course, this was the heydey […]