HYBRID VIGOR VOL 2 ISSUE 21: 52 Tin Men

Forgive me if I’m a bit in the clouds, and not the Salesforce.com kind. I’m just back from a rejuvenating 30-year college reunion. As a well-known member of my class wrote, “By age 52, there’s no need for posing.” I’ve never experienced a more authentic, collaborative, gathering. Collegial in the most literal sense of the word.

In a somewhat related vein, I’ve often wondered if it wouldn’t suit the convertible market to have some kind of central body promoting the asset class. It seems self-evident, especially given some of the valuations persisting in today’s market, that more companies should be taking advantage of the current capital-raising environment. It also seems that prospective issuers often don’t feel confident about what they hear when being pitched.

Before spiraling into images going down, down, down of smoke glass stain bright color, America may have been onto something. Sometimes late when things are real and people share the gift of gab between themselves, they may actually come up with something. This is a market that could triple or quadruple and still be tiny. Often collaborations wind up in groupthink and posing, but sometimes they can create a result far better than anyone can make individually.

Food for thought.

(This is the cover letter for the subscription-based weekly Hillside's Hybrid Vigor newsletter. For a complete copy, please contact John Anderson at + 1 (646) 712-9289 x 107).