Blog - BTBS Features

  • Aramco IPO Mirage

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    An IPO of Saudi Aramco in late 2018 at a valuation of $2 trillion (tn) has been widely trailed in the Press. We believe the Aramco IPO is unlikely to happen in 2018, if at all, for three main reasons: timing, the oil price, and valuation.

    Timing


    An IPO in the second half of 2018 is a challenging deadline. It leaves scant time to restructure the conglomerate’s myriad public interest and commercial holdings and to produce financial accounts to international standards. As a commercial...

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    Posted in BTBS Features | Investment
  • Coffee with Lord Sterling

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    Had coffee with Jeffrey Sterling, former Chairman of P&O today. Worth listening to someone who saved a company during the '74 crash, and lived through rampant inflation in the 1970s. He reckons interest rates should really be 5% and that inflation will come back. But I sense he does not have high conviction, and this seems to be a notable feature of life post 2008; conviction generally is low, as would be expected given the lack of historical precedent to fall back on. I wonder if...

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    Posted in BTBS Features
  • Duchenne Children’s Trust

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    The Duchenne Children's Trust is a charity which has touched my heart. It's a heartbreaking story of an awful disease. You can do a little to help by visiting this site: https://www.justgiving.com/DCTBracelets. Please help.

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    Posted in BTBS Features