ShadowFall Reflections

News

THE LONG VIEW

In this article, we reflect upon the different actions taken by company management in response to the current crisis with a focus upon St James’s Place.

News

BRAVADO BUYS AND UNREMITTING SALES

We believe that Temenos’ SARs arrangement to reward its employees enables it to flatter its P&L, operating and free cash flow. The fact that these share awards appear to be sold almost as soon as they become eligible to exercise doesn’t inspire us with great confidence.

News

TALK ABOUT CLOSENESS?

The Financial Times’ journalists, Madison Marriage and Jonathan Ford, wrote a compelling report in August 2018: A dangerous dance – when auditors are too close to the client.

Recent Stories

News

THE LONG VIEW

In this article, we reflect upon the different actions taken by company management in response to the current crisis with a focus upon St James’s Place.

Read More »
News

BRAVADO BUYS AND UNREMITTING SALES

We believe that Temenos’ SARs arrangement to reward its employees enables it to flatter its P&L, operating and free cash flow. The fact that these share awards appear to be sold almost as soon as they become eligible to exercise doesn’t inspire us with great confidence.

Read More »
News

TALK ABOUT CLOSENESS?

The Financial Times’ journalists, Madison Marriage and Jonathan Ford, wrote a compelling report in August 2018: A dangerous dance – when auditors are too close to the client.

Read More »
News

PRO-FORMA ULTIMO

A sagacious journalist for the Financial Times, Robert Smith, recently wrote an interesting article on how ex ante some Private Equity (PE) firms attempt to boost their target business’ numbers ahead of acquisition: Equivalent of doping? Private equity takes juicing the numbers to the next level.

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News

SHORT SELLERS & AUDITORS

The relatively recent, heightened interest in the role and responsibilities of audit firms and their oversight must raise conflicting views for short sellers.

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