Sta Hungry Stay Foolish

Stay Hungry. Stay Foolish.

A blog by Leon Oudejans
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Accounting & Auditing

It’s better to smile than to get angry

Recently, I had my bi-annual dental (hygienist) appointment. At my arrival, I received a checklist with some 30 health questions and was asked to complete it and sign off. After reviewing those questions, I insisted on their explanation. I'm still waiting for it. I was sent home because it was a must. That incident spoiled my afternoon. I hate being told that I must...

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Private Equity is buying stakes in audit firms

Dutch Private Equity (PE) firm Waterland, ranked #1 in Europe and #2 worldwide, is buying stakes in medium-sized audit firms. PE firms are not philanthropists. They care about an exit within a "few" years. It's hard to see that exit unless a major change in audit legislation will occur, which is not imaginary. A recent interview in the Dutch Financial Times claimed...

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Art vs Science

Some decades ago, there was a discussion in my audit profession whether auditing is an art or a science. Given the audit tools that are being developed nowadays, I suppose people would argue that auditing is a science. In my view, auditing is an art. These tools just make it harder, better, faster, stronger. Last week, I told my son that negotiating is an art; not a...

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Is asking the wrong question essential to learning?

I've been asking myself some questions lately. None of the answers seem right and/or relevant to me. I suppose I must be asking the wrong questions. People claim that asking the right question will give you the right answer (eg, source). This seems rather obvious. How to ask the right instead of the wrong question? It has been alleged though never substantiated that...

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Amundi warns that parts of private equity market resemble ‘Ponzi schemes’ (FT)

Financial Times title: Amundi warns that parts of private equity market resemble ‘Ponzi schemes’ FT subtitle: PE funds are selling assets to each other in ‘circular’ fashion, asset manager’s investment chief says By: Katie Martin Date: 1 June 2022 "Europe’s largest asset manager has likened parts of the private equity industry to a “Ponzi scheme” that will face a...

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US interest goes up, others go down

Early 2022, China urged the West not to raise interest levels as countries (read: China) were still recovering from Covid-19 (eg, Barron's, CNN). Since March, the Fed has warned markets that it may raise US interest by even 0.5%. The impact is clear: money is fleeing China. Euro, Pound and Yen are near historic lows. The Fed does not have much choice as inflation in...

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