{"id":16192,"date":"2018-04-16T23:36:25","date_gmt":"2018-04-16T23:36:25","guid":{"rendered":"http:\/\/thepatientinvestor.com\/?p=16192"},"modified":"2018-04-16T23:36:25","modified_gmt":"2018-04-16T23:36:25","slug":"red-flags-for-blue-sky","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2018\/04\/16\/red-flags-for-blue-sky\/","title":{"rendered":"Red flags for Blue Sky"},"content":{"rendered":"

\"Robert<\/a><\/p>\n

More good work by Elizabeth Knight at The Age<\/a>. Here she interviews Chad Slater from Morphic Asset Management on red flags at fund manager Blue Sky Alternative Investments (BLA).<\/p>\n

“It doesn\u2019t actually come as surprise to me that Blue Sky (BLA) has been singled out as a short. I have been contacted on a number of occasions over the last two years as to my thoughts on BLA\u2019s business model from a short-sellers’ perspective. Many of the issues raised by Glaucus were raised in those phone calls as a concern previously.”<\/p>\n

These include, firstly, “a business with internally valued assets”.<\/p>\n

“Businesses with assets that are ‘marked to market’ by company paid affiliates (auditors etc) are vulnerable to manipulation as the incentives are there for management in bonus payments, to hire someone to tell them what they want to hear. Now clearly not all companies will do this, but it is a murky area. Definitely a flag.”<\/p>\n

Flag number two, he says, is when the CEO and founder suddenly leaves and cashes out a large portion of his wealth.<\/p>\n

Another thing Slater says to watch for is “a very young senior team that has a background in management consulting rather than industry”.<\/p>\n

Lastly a company that has grown very rapidly from a small base is another flag, he says.<\/p><\/blockquote>\n

While the last point is not necessarily a red flag, the first three are clear warning signs. Especially “a very young senior team that has a background in management consulting rather than industry.” I have witnessed the dangers of that first hand. Academic brilliance is no substitute for experience.<\/p>\n","protected":false},"excerpt":{"rendered":"

More good work by Elizabeth Knight at The Age. Here she interviews Chad Slater from Morphic Asset Management on red flags at fund manager Blue Sky Alternative Investments (BLA). “It doesn\u2019t actually come as surprise to me that Blue Sky (BLA) has been singled out as a short. I have been contacted on a number … <\/p>\n

Continue reading “Red flags for Blue Sky”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3791,3784],"tags":[3792,3793],"class_list":["post-16192","post","type-post","status-publish","format-standard","hentry","category-alternative-investments","category-management","tag-blue-sky-alternative-investments","tag-management-experience"],"yoast_head":"\nRed flags for Blue Sky - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Red flags for Blue Sky - the patient investor\" \/>\n<meta property=\"og:description\" content=\"More good work by Elizabeth Knight at The Age. Here she interviews Chad Slater from Morphic Asset Management on red flags at fund manager Blue Sky Alternative Investments (BLA). “It doesn\u2019t actually come as surprise to me that Blue Sky (BLA) has been singled out as a short. 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Nearly 40% of car factories in North America now operate on work schedules that push production well past 80 hours a week, compared with 11% in 2008, said Ron Harbour, a\u2026","rel":"","context":"In "US & Canada"","block_context":{"text":"US & Canada","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/us-canada-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16125,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/02\/26\/richard-koo-surviving-in-the-intellectually-bankrupt-monetary-policy-environment\/","url_meta":{"origin":16192,"position":3},"title":"Richard Koo: Surviving in the Intellectually Bankrupt Monetary Policy Environment","author":"Colin Twiggs","date":"February 26, 2018","format":false,"excerpt":"https:\/\/youtu.be\/8YTyJzmiHGk Richard C. Koo, Chief Economist, Nomura Research Institute, at the ACATIS Value Konferenz 2016 in Frankfurt Why QE doesn't work. I have the greatest respect for Richard Koo and his unconventional, balance-sheet-recession approach to economics. It strikes me is that if central banks lower interest rates to stimulate borrowing\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/img.youtube.com\/vi\/8YTyJzmiHGk\/0.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":27994,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/09\/24\/gold-the-long-game\/","url_meta":{"origin":16192,"position":4},"title":"Gold: The long game","author":"Colin Twiggs","date":"September 24, 2021","format":false,"excerpt":"Secular trends are a reliable tool for positioning investments because they seldom change. If we look at secular trends in financial markets, one of the most reliable is the decline in long-term Treasury yields over the past four decades. The purchasing power of the Dollar has been declining for even\u2026","rel":"","context":"In "Copper"","block_context":{"text":"Copper","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/commodities-gold-commodities\/copper\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23053,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/12\/05\/gold-negative-real-interest-rates-here-to-stay\/","url_meta":{"origin":16192,"position":5},"title":"Gold: Negative real interest rates here to stay","author":"Colin Twiggs","date":"December 5, 2020","format":false,"excerpt":"The 10-year TIPS yield sank to -0.94% on Thursday, warning that the August to November mini-rally is over, with the Fed continuing to expand its balance sheet. Fed QE and negative real Treasury yields are likely to be with us for a long time, especially when we consider forecast Federal\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16192","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=16192"}],"version-history":[{"count":2,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16192\/revisions"}],"predecessor-version":[{"id":16194,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16192\/revisions\/16194"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=16192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=16192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=16192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}