Secrecy and Theranos

Secrecy and Theranos

My knowledge of Theranos and its dramatic fall from grace is limited pretty much to the popular media – a source of which I am typically skeptical.  One exception, at least some of the time, is the Wall Street Journal.  Today they ran an in depth article on Theranos that focused on secrecy which as you know is one of my hot buttons.  The article points to another problem related to secrecy that I overlooked in my posts on Apple.  It is internally corrosive.  If only a few select people are privy to the secrets, colloboration breaks down and the elite lose the critical feedback so necessary for refining their opinions.  If a company with a culture of secrecy starts down the wrong path they are much less likely to self-correct than one in which open discussion is encouraged.

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This Too Value Fund Explains Why Turkey Is Ripe For Investment Right Now

TurkeyThe Talas Turkey Value Fund returned 9.5% net for the first quarter on a concentrated portfolio in which 93% of its capital is invested in 14 holdings. The MSCI Turkey Index returned 13.1% for the first quarter, while the MSCI All-Country ex-USA was down 5.4%. Background of the Talas Turkey Value Fund Since its inception Read More

Bradford Cornell is an emeritus Professor of Financial Economics at the Anderson School of Management at UCLA. Prof. Cornell has taught courses on Applied Corporate Finance, Investment Banking, and Corporate Valuation. He is currently developing a new course on Climate Change, Energy and Finance. Professor Cornell has published more than 125 articles and four books on a wide variety of topics in applied finance. Professor Cornell is also a managing director at BRG where he heads the practice on Climate Change, Energy and Finance. In addition, he is a senior advisor to the Cornell Capital Group and to Rayliant Global Advisors. In both capacities, he provides advice on fundamental investment valuation.
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