WeWork's failure to go public is a critical turning point for markets that ...
FILE PHOTO: A WeWork logo is seen at a WeWork office in San Francisco, California, U.S. September 30, 2019. REUTERS/Kate Munsch
He said in a note to clients dated Sept. 29 that it is reminiscent of other corporate events that marked the top of secular trends in the past 20 years. “It was one heck of a run, but paying extraordinary valuations for anything is a bad idea, particularly for businesses that may never generate a positive stream of cash flows,” he wrote.
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