Monthly Archive for: ‘March, 2017’
In the late 1970s, one of your writers started working his first white-collar job at One Wall Street for Irving Trust Company. In this newsletter, we reminisce about a lesson learned at a two-day Irving Trust corporate finance seminar in 1979 that featured expert views on subjects ranging from newfangled money market funds and commercial paper (imagine such exotica!) to deeper topics such as venture capital and buyouts. One lasting and simple concept about investing was discussed and will be recalled here since it has timeless application for any investment opportunity—especially as we witness a spate of so-called “unicorn” Initial Public Offerings, the latest being Snap, Inc. (d.b.a. Snapchat).