© 2017 by Arrowroot Family Office, LLC. 

Selected Articles

What Does An EV / EBITDA Multiple Mean?

The EV/EBITDA multiple is among the most popular techniques to value businesses. Applied properly, EV/EBITDA can be a very helpful tool. But a naive use of EV/EBITDA leads to valuation mistakes.

Source: BlueMountain Investment Research

 

 

Does Credit Affect Stock Trading?

The role of credit in financial bubbles is theoretically ambiguous. On the one hand, it may help rational arbitrageurs to trade against a bubble; on the other hand, it may enable naive speculators to buy overvalued assets.

Source: Stanford University

 

 

Investing in the Unknown and Unknowable

Professor Richard Zeckhauser, of Harvard University, discusses investments with unique characteristics. Namely, that they deal in the unknown and unknowable.

Source: Harvard University

 

 

Measuring the Moat

Michael Mauboussin and team introduce a systematic framework for measuring the magnitude and sustainability of value creation, or moat, of a business.

Source: Credit Suisse

 

 

Value is Dead, Long Live Value

After over a decade of underperformance, investors wondered if value investing was dead...in the 1930s.

Source: O'Shaughnessy Asset Management

 

 

The Origins of Silicon Valley

How did this small valley in central California come to be one of the world's greatest centers of innovation?

Source: Cambridge University

 

 

Understanding SaaS

Learn about the Software as a Service business model and how to approach a valuation.

Source: Andreesen Horowitz

 

 

Elections and Markets

See what the relationship between presidential elections and markets has been through time.

Source: Winton Research

 

 

Paradigm Shifts

Investor Ray Dalio discusses the history of shifting financial markets, how paradigms develop and recur, and how to use the past to attempt to understand the future.

Source: economicprinciples.org