Investors are shifting their gaze downward from top-line revenue to the apex predator of VC dreams: free cash flow.

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On the hunt for unicorns.

In the past two days investors have gotten three data points that should cause serious concern: The WeWork IPO getting revalued to $15-$20 billion (or cancelled), when their last raise was done at a $48 billion valuation;Ford being downgraded to junk status, and;Consumer Credit growth unexpectedly doubling. WeWork The bizzaro

world of private unicorns (privately held firms with $1 billion and higher valuations) has now officially begun to crash. Of course, we've seen this movie before, it was called the tech wreck. Back then the companies were public, and your grandmother owned them. In the sequel, only the "smart" money…

Investing is a kind of combat, mostly of the investor against herself.

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Bruce Lee fights (then) Lew Alcindor in the posthumous "Game of Death".

Every time the U.S. market goes into a serious downturn, a roundelay echoes across the financial world as bull market sycophants cry out: “No one could have seen this coming”. Of course, this is a lie.  Anyone willing to look honestly at the markets can see when risks are rising, valuations are

high, markets are weakening, and other indicators raise red flags. In this post, I am timestamping a number of existing negative indicators, near-term risks, and long-term, structural headwinds. Please don't misunderstand me.  I'm not a permabear, I'm a permarealist.  Any biases an investor has are just rocks they…

(Trade) war, ain't nothing but a heartbreak. - Edwin Starr

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Edwin Starr knew everything you need to know about war.

On Friday I wrote about how China could devalue the Renminbi in response to President Trump's September 1 tariff threat. While few commentators were expecting this, I pointed out that it would be seen as a move of strength for fighting back against Trump, instead of a move of

weakness. It would appear that Xi is in the move-of-strength camp because China devalued the Renminbi by about 1.5 percent against the dollar Sunday night. Chart 1: Dollar/RMB Cross Source: Bloomberg Trade War Goes Hot The trade war is now officially on and hot. The two biggest kids on the block…

Trump has entered the scorched earth phase of his presidency.

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Baron Harkonnen, no stranger to gangster moves.

After this week's events I have published a new video explaining what's going on and the market implications from here. Topics covered: The setup:Fed rate cut and accompanying comments;Trump's gangster move;Investment implications:The dollar;China;Copper;Oil;Gold;Bonds, and;Cannabis stocks. As always,

none of my comments should be considered an investment recommendation or investment advice. https://www.youtube.com/watch?v=ZJo1g9g44nQ&feature=youtu.be

"The transition starts before the transaction and continues after the transaction."

bantam jack duval manhattan new york multi-family office UHNW Stacy Feiner, PsyD - Head Shot

Stacy Feiner, PsyD

This is the second interview in our Entrepreneur and Family-Owned Business Interview Series. These interviews are designed to help entrepreneurs and family businesses think through the benefits, implications, and consequences of taking outside investment. As part of the project, I am interviewing private equity fund managers, middle-market investment bankers, attorneys,

accountants, and consultants that advise privately held firms. This interview is with Stacy Feiner, PsyD, a business psychologist with over 20 years experience coaching middle-market business owners through complex dynamics. Stacy has designed a system that helps grow and transition companies. In this interview, Stacy brings forth a number of…