by Erik Kobayashi-Solomon | May 1, 2018 | Research
For a new business, the most difficult part of understanding what it is worth is making reasonable assumptions about how quickly cash flows will grow during the medium-term and how…
by Erik Kobayashi-Solomon | Apr 30, 2018 | Commentary
In our previous article in this Option Investing Case Study on IBM (article 1, article 2), we showed that we had invested in IBM by accepting downside price risk in…
by Erik Kobayashi-Solomon | Apr 28, 2018 | Research
The Netflix model we posted the other day has a lot of moving parts in it, so we thought we would take each bit step-by-step to show you our thinking…
by Erik Kobayashi-Solomon | Apr 26, 2018 | Commentary
This is the second article in our Case Study series on IBM (read our first article). It explains the economics of our option investment in IBM and answers the following…
by Erik Kobayashi-Solomon | Apr 26, 2018 | Research
The best strategy I have found for valuing Netflix NFLX is the same as one might use walking into a dark room: Feel around for something you can grab onto,…
