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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 12, 2014
1986-style real estate “crash” coming (again)
“Crazy” asset prices make no sense: “the numbers just don’t work.” Really?? Landry’s Chairman Tilman Fertitta explains why he sees a crash of the U.S. real estate market coming that’s similar to the fall experienced in 1986. Here is a … Continue reading
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Spending money
Turns out spending on others and buying ourselves experiences and services that save time are more fulfilling than buying things…couldn’t agree more. Latest research suggests wealth alone doesn’t provide any guarantee of a good life. What matters a lot more … Continue reading
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Risk markets: officially sanctioned gambling not investing
Further to my articles last week here and here, gambling with large sums of money is a well worn path to financial devastation. Addictions and denial with gambling run rampant, but most people understand it is self-destructive. The problem with … Continue reading
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