http://elilederman.com/ERL/Modern_Markets/Entries…
"More important, though, is what the bankers’ pitch won’t say: that your IPO will make Facebook just another chip in a multidimensional casino they run, one that gets seedier and less attractive every day."
| +404 | Evercore Intern Seizure | 62 | 59m |
| +98 | UBS IB Americas has failed, now behind Santander and Stiffel | 27 | 1h |
| +79 | JPM M&A is Gone??? Purely Coverage Banking??? | 41 | 8m |
| +60 | How do I understand vs. just memorizing? | 11 | 4h |
| +48 | Losing my personality in Banking | 9 | 1d |
| +45 | The good and bad with Wells Fargo | 12 | 3h |
| +42 | Associate & Above IB exits | 18 | 6h |
| +35 | Sent my Claude prompt to 200+ Teams chat. MD wants to see me Monday. | 18 | 8h |
| +33 | Incoming IB Analyst: Best Ways to Prepare? | 13 | 3h |
| +31 | Tech to IB Pivot | 20 | 17h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
nice share.
FB decides to file for a public offering because they would otherwise have to disclose financials anyway because of the number of investors. This guy's proposition, to create a "FB Exchange", while maybe academically interesting, isn't exactly a viable solution to the problem of financial disclosure in any form... It's essentially reinventing the wheel with no real reason to do so other than some moral position against the way modern markets work.
Let's not forget that there's no reason that a new derivatives market couldn't exist even if this new proposed exchange becomes a reality.
Quia inventore qui tempore vitae eligendi similique sint. Distinctio iste illum at. Sequi praesentium quasi dolores qui occaecati amet.
Perspiciatis a dicta eum commodi qui est. Nisi aperiam ea sed odit laboriosam. Eligendi illum sapiente minima.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...