Markets & Finance Section Editors

Ryan Pertz

Ryan currently works as a Private Equity Associate in Dallas, TX. He graduated from Duke University in 2007.

Will Ritchie

Will currently hails from Chicago, IL where he works as a Private Equity Associate. He graduated from Yale University in 2007.
Markets and Finance

What is Facebook Worth?

256px-Facebook_icon_svgQUICKVIEW: Late last year, San Francisco-based private equity firm Elevation Partners acquired 2.5 million shares in Facebook, representing a 0.5% stake, from a private investor for $90 million. Elevation increased its ownership in the social media company in June, acquiring an additional 5 million shares (1.0% stake) from a private investor for $120 million. These two secondary market events imply Facebook carried an enterprise value of Continue reading What is Facebook Worth?

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Markets and Finance

The NBV Portfolio Challenge: Part II – Portfolio Monkey Partnership and Analysis

portfolio_monkey_logoFEATURE: A few weeks ago we introduced the start of the NBV Portfolio Challenge. The purpose of the challenge is to give you, dear readers, the opportunity to evaluate various strategies that we believe will perform well in these uncertain economic times. Ryan and I will present our example portfolios along with the portfolios of a few NBV readers. In preparing for the challenge we were having difficultly finding a source for reliable data and analysis regarding the expected returns and volatility of our prospective portfolios. Fortunately we came across a website called Portfolio Monkey. And after a good discussion with co-founder David Chen, we’re very excited to announce that we’ll be using Portfolio Monkey to refine our portfolio construction and analysis for the challenge.

Continue reading NBV Portfolio Challenge: Part II – Portfolio Monkey Partnership and Analysis

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Markets and Finance

The NBV Portfolio Challenge

FEATURE: Ryan and I are pleased to announce the launch of a project we’ve been ruminating about for quite sometime: The NBV Portfolio Challenge. The premise is very simple - Ryan, a few NBV readers and I will assemble and analyze separate portfolios of securities that we believe will perform well over the next six months. Think of it sort of as a fantasy league for the public markets. If you’re interested in participating, we’d love to hear from you. Please email us here with a paragraph or two on your proposed strategy and level of interest. Continue reading The NBV Portfolio Challenge

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Markets and Finance

Fast Forward: Distributing Film Risk

FastFowardFEATURE:  In the midst of the recent saber-rattling over financial reform, investment bank Cantor Fitzgerald is attempting to tip-toe around the fire as it seeks regulatory approval for a new controversial financial instrument that further blurs the line between derivatives and gambling.  The newly contemplated forward contract, a DBOR movie future, is designed to enable participants to “take a view” on which movies will succeed and fail. Continue reading Fast Forward: Distributing Film Risk

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Markets and Finance

Pinching Pennies: The Savings Rate and The Road to Economic Recovery

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FEATURE: A penny saved is a penny earned. I first learned that critical life lesson at the age of eleven, when I begged my mom to let me spend my entire month’s allowance on a one-of-a-kind Punchers the Lobster Beanie Baby. She strongly advised against it, and I eventually capitulated. In this case, deferring consumption was a good thing because instead of blowing my cash on a whim, I was able to save up and buy something I really wanted down the road—a pair of black velvet overalls from The Limited Too! Continue reading Pinching Pennies: The Savings Rate and The Road to Economic Recovery

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Markets and Finance

Why Art Won't Be The Next Hot Alternative Asset

ART_GrafittiFEATURE: Over the course of 2004 to 2006, there were numerous reports of private investment firms trying to raise approximately $1 billion to buy art. The firms had names like Artistic Investment Advisers, The Fine Art Fund and Art Collectors Fund. At the height of the market, they made serious claims about performance: promising 30% annual returns and strategies that would hedge against art price fluctuations.
Continue reading Why Art Won’t Be The Next Hot Alternative Asset

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