The archive
Answers
Every question Ray has taken on, newest first. Pick a beat or scroll the lot.
Money Myths
Why companies buy back their own shares
A buyback is a company handing cash back to the owners who want out, and shrinking the pie so everyone left gets a bigger slice. Sometimes it's smart. Sometimes it's makeup.
Boardroom
What an activist investor actually does
Buy enough shares to be heard. Write the letter. If the board ignores the letter, go after their seats. That's the job, more or less.
Deals Decoded
Why takeovers always come at a premium
The share price is what a stranger pays for a few shares. A takeover price is what it costs to get the keys. Those are very different things.