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GSY is another option that I use on the ETF side

My dryer seems to regularly eat just one of a pair of socks, leaving me with a large number of odd socks. Will this help me?

A little tangential to the topic so I apologize but you seem like a good person to ask...Do they have online brokers like ETrade, Schwab... in Spain. Not U.S. brokers with an office in Madrid but actual Spanish companies? Also interested in if there are any in Portugal, if you would happen to...

I hear that is often followed by an offer you just can't refuse for several months of waterfront accommodation and even a little bit of food!

Somalia

Good point.

The model I've seen is pretty much angel level investments. The standard at least used to be $10,000 per block for the search phase and $100,000 per block for the purchase phase. They try to get as much debt as they can, hopefully at least 40% and often can get a big seller's note as well, which...

I'll answer your second question first. The beauty of a search fund from the LP perspective is that you put down a very small amount of money in the search phase which you should look at as a real call option. You then get to spend many months watching your new management team in action and...

The EBITDA multiples vary a lot but they're generally based on an established firm with some history and stableness to their earnings and EBIDTAs of at least $1M and often much bigger. In some cases you can get a much higher multiple if you've got a lot of administrative costs as a standalone...

Search funds is a term I never expected to hear on ET! I agree with you on that, the concept was big at my b-school and I know a bunch of people on both the search and funding side. In fact I did an internship for a small firm that invests in search funders and my main project was to collate...

I'd agree that it's probably almost entirely entepreneurs. An exit that get the founders $25M is pretty common and they happen every day. But like you say, they're companies you haven't heard of, often doing niche things that are specific to a very specific technical part of an industry so you...

No, actually I disagree strongly. If you're a small entrepreneur and you patent an easy to copy device like said drain cleaner in the U.S. you can be almost certain that a very close copy will be available everywhere (if it actually turns out to be useful) and it's not going to be worth your...

Yeah, the rocket guys basically avoided Nuremberg in exchange for their IP, so it was probably a more than fair trade from their perspective.

Actually turns out you have to enforce a cease and desist as well, in exactly the same way, suing the party you want to cease and desist. Even if you get a judgement, you have to enforce that, which isn't going to happen in another jurisdiction with a fly by night company literally half way...

And in reality U.S. business has already solved for the lack of IP protection in China in much the way you allude to. If you've got actual defensible IP, i.e. the mask for you IC, you build that in a country with good IP protection. If you've got indefensible IP and in reality it doesn't matter...

It's funny, as I recall from having read Principles you're only remembering/applying half of the equation. It isn't just that you say what you want to say, it's that you listen and apply what you hear, I think the term was getting past your own "ego barrier". Having your part without the second...

Is that your opinion or are you angry about another thread and completely twisting what I said into something else entirely so you can be angry about it? Bridgewater is without a doubt successful. As I'm sure you'll agree, success for shareholders/LPs isn't synonymous with...

Yeah, crazy but I think something that impacts tens of millions of people around the world is something to be taken seriously. In fact you inadvertently hit on the crux of the issue with that flippant comment. It's exactly because Trump and his followers don't take something so serious seriously...

And this is why I wish ET had a downvote button we could use for information free posts.

These IFC markets guys are nothing but tenacious, even if they do have a bit of trouble with the English thing!