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Proposed Oil Pipelines in Canada

Enbridge Line 3 Replacement Project Quick Facts/Overview Owner: Enbridge Throughput Capacity: 760,000 bbl./day[i] Start: Hardisty, Alberta End: Superior, Wisconsin Cost The project will cost $5.3B CAD in Canada and $2.9B USD in America.[ii] Existing Pipeline The Enbridge Line 3 began operating in 1968 running from Edmonton, Alberta through to Superior, Wisconsin with a capacity of

Woodstock for Capitalists: The Berkshire Hathaway AGM

To my understanding, Woodstock was an iconic rock concert that represented the Zeitgeist of America's hippie era. There was a re-do in the 90's where there ended up being riots - nonetheless, this is what Warren Buffett has coined the Berkshire Hathaway annual general meeting. As we approach the AGM for

US M&A Roundup – Q1 2019

The M&A activities in the United States experienced an increase to USD 658.76B in Q1 from $472.5B in Q4, reflecting a 39.4% Q/Q increase, and a decrease from $815.28B in Q1 2018 due to greater market volatility, trade tension and the threat of Brexit. M&A Drivers A few drivers of M&A activity

Secondary Buyouts: Not Your Typical Second-Hand Shopping

By Eric Peghini Initially posted on the BSPEC blog “Everyone has access to information. We just know how to analyze it better.” This is the mantra of Billions protagonist Bobby Axelrod, a fictional hedge fund manager who’s ethically compromised fund breeds alpha like a wolf pack. However, putting aside any insider trading and market manipulation, is

Can Technology Sector Stocks Keep Rising?

What is a Technology Stock? In a previous post, we briefly discussed lofty valuations for tech companies. However, simple attribution analysis will show that these richly valued companies have been responsible for much of the growth in the 10 year bull market. Market pundits and talking heads that show up on

The Upcoming Tech Unicorn Parade

2019 Unicorn Class For readers who have been living under a rock, a unicorn - in finance jargon - is a private company with a valuation of over $1 billion. Of course, as there is no observable public market price for private companies, this valuation is gleaned from the implied valuation

Commercial Real Estate Valuation: Cap Rate Approach

Fundamental valuation of commercial real estate is similar to fundamental valuation of a stock, the intrinsic value of the property depends on the cash flows that it generates. This is known broadly as the income approach to valuation, which can be further broken down into 3 variations: Cap rate approach

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