by Sam Haskell | Dec 22, 2021 | Corporate Governance
First, I will not get to speak to most of the folks reading this, but if you celebrate Christmas I wish you an enjoyable holiday, hopefully surrounded by friends, family or both… Most of us know how compounding works. The rub is how difficult it is to apply. Out of...
by Sam Haskell | Nov 8, 2021 | Corporate Governance
From time to time I will write about client positions, not as investment advice but to share some of the lessons we learn from inside the sector. Your comments or outreach are welcome via our contact page. As flexes go, the above paragraph above, hidden at the bottom...
by Sam Haskell | Oct 20, 2021 | Corporate Governance
As banks rally at the same time many of them are making low ROI loans, we’re spending a minute this afternoon making sure folks know what they are getting when they buy the sector. Is banking a good business? A good business returns more than its cost of...
by Sam Haskell | Sep 13, 2021 | Corporate Governance
Last week Pacific Enterprise (PEBN) announced it was selling to Bay Commercial (BCML). Pacific Enterprise is a $650 million, 1-branch bank in Irvine, CA with 1/3 of loans in PPP, typically earning 7% ROE at 65% efficiency. Normally PEBN holders would read the merger...
by Sam Haskell | Jun 29, 2021 | Corporate Governance
We have gotten a number of questions about what digital currencies mean, so below is a brief primer on their current status and potential impact. While this topic may seem wonky today, we will all at some point in the next few years likely have the option of a digital...
