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Jim Chanos & Bethany McLean on Lessons from Enron, Financial Fraud Throughout History, and the Fall of FTX, SVB & Wirecard | #479
The Meb Faber Show - Better Investing
The Volatility of Private Equity Reads
The free cash flow of a lot of property companies now is really much worse than the so-called NOI, and this gets back to accounting metrics. And then when you couple of putting big multiples on that phony number, you get valuations that make no sense to a private buyer. So there's lots of real estate now beyond offices that just doesn't pencil out anymore. People forget just how volatile the rates are. I mean, I think in GFC, they decline like 70, 80%.
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