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More marked-to-fantasy credits hit the windshield.
h/t @NickNemo17Thoma Bravo turned in the key on Medallia.
$6.4B of equity wiped.
It now carries $3B in debt against $200M of EBITDA.
Blackstone had $1.5b of the debt across their nearly identical retail facing credit funds marked it most recently at 60.3c.
It's now a zero. Credit
Daily Archives: November 5, 2014
Understanding the natural course of market cycles
Repeated Central Bank interventions between 2008 and 2014 interrupted the natural mean reversion needed to bring financial asset prices back in line with the economic fundamentals possible now after global consumers blew up on credit. Interruption is not the same … Continue reading
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Mobile use now the leading cause of death on the road
Social and legal intolerance for mobile use while driving needs to reflect the same severity as driving while under the influence of drugs and alcohol. Yes, it’s that serious. Here is a direct video link.
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Word of 2014: ‘recoupling’
As the usual investment sales crowd keeps assuring everyone that a diverse basket of stocks and commodities is all one needs to ‘decouple’ and profit even as global sales plunge, the word of 2014 is ‘recoupling’. The QE-inspired disconnect between … Continue reading
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