A Challenging Validation, “a contrario”

Over the past two weeks, the conversation and the exchange of emails with a highly reputable and quant skilled professional in the private equity industry have posed an interesting intellectual challenge and created a very useful opportunity for testing “a contrario” the DaRC methodology and for discussing the relation between duration and time horizon. Continue reading

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The Neglected Weight of Time (in Private Equity History and Valuation)

There are instances, you would agree, when putting time in perspective can make a real difference. Continue reading

Relativity Theory, Money-Time Curvature and Private Capital Pricing

Wonder what relativity theory and money-time curvature have to do with rational pricing of private capital? The two quotes below, freely adapted from the Wikipedia pages about space-time and reference frame, may give a hint. Continue reading