(Charlotte, NC – June 12, 2018)
Average enterprise value of announced deals as multiple of past 12 months’ EBITDA
Note: 2018 is year-to-date as of May 18
Source: Thomson Reuters, WSJ.com; Read full article
What We’re Reading
Below are links to select materials and articles that our team found interesting (no partnerships expressed or implied).
Calpers Weighs Following Warren Buffett’s Path
(WSJ) The nation’s largest pension is considering a new strategy: setting up multibillion-dollar funds to buy and hold private companies for the long haul, replicating the approach of Warren Buffett’s Berkshire Hathaway Inc.
How Companies Use the Latest Profits Fad to Fool You
(WSJ) Eighty-six years ago this week, the stock market hit its worst low. Today’s high-flying market looks like a polar opposite. But information is still power.
In a Digital Era, How Can Older Workers Stay in the Game?
(WSJ) Do your colleagues at the office seem to be getting younger? It looks that way to millions of older employees in industries being disrupted in the digital era and favoring younger more digitally savvy workers, such as tech, entertainment, retailing and media. As more workers in their 40s and beyond plan to delay retirement until their mid-60s, a growing number will have to hustle to reassert their value to their employers.
How the Math Men Overthrew the Mad Men
(New Yorker) Once, Mad Men ruled advertising. They’ve now been eclipsed by Math Men—the engineers and data scientists whose province is machines, algorithms, pureed data, and artificial intelligence. Yet Math Men are beleaguered, as Mark Zuckerberg demonstrated when he humbled himself before Congress, in April. Math Men’s adoration of data—coupled with their truculence and an arrogant conviction that their “science” is nearly flawless—has aroused government anger, much like Microsoft did two decades ago.
(New York Magazine) Professor Laurie Santos didn’t set out to create the most popular course in the history of Yale University and the most talked-about college course in America. She just wanted her students to be happy. And they certainly look happy as they file into a church—a literal church, Battell Chapel, that’s been converted to a lecture hall—on the Yale campus on a sunny April afternoon, lugging backpacks and chatting before talking their seats in the pews.
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