Podcast Episodes
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Sri Lanka 2022 : Multi-Policy Collapse & Sequential Option Elimination │GP/LP Analysis - 3 Red Flags│EP65 T2
Season 2 Episode 65
This GP/LP technical episode dissects the multi-policy collapse mechanism in full institutional detail: the November 2019 tax cuts and the simultane…
1 month ago
Sri Lanka 2022 : The Government Banned Fertilizer to Save Foreign Exchange. The Crop Failure Cost More Foreign Exchange Than the Fertilizer Did — EP65 T1
Season 1 Episode 65
This is the financial autopsy of the Sri Lanka sovereign default — the first in the country's 74-year history since independence, announced April 12,…
1 month ago
Mozambique Tuna Bonds 2016 : The Business Plan Said $200M Revenue. Debt Service Was $260M. The Bond Was Oversubscribed — EP64 T1
Season 1 Episode 64
This is the financial autopsy of the Mozambique Tuna Bonds — the hidden sovereign guarantee mechanism that converted a country's maritime security b…
1 month ago
Mozambique Tuna Bonds 2016 : Hidden Sovereign Guarantee Architecture & Transaction Capture │GP/LP Analysis - 3 Red Flags│EP64 T2
Season 2 Episode 64
This GP/LP technical episode dissects the hidden sovereign guarantee mechanism in full institutional detail: the three-entity structure (Ematum, Proi…
1 month ago
Waste Management 1998 : $1.7 Billion in Fake Profits. Arthur Andersen Found the Problem Every Year. Signed Off Anyway — EP63 T1
Season 1 Episode 63
Between 1992 and 1997, Waste Management Incorporated overstated its pre-tax earnings by $1.7 billion — the largest restatement in corporate history a…
1 month ago
Waste Management 1998 : Audit Capture & Depreciation Estimate Manipulation │GP/LP Analysis - 3 Red Flags │EP63 T2
Season 2 Episode 63
Audit independence is not a relationship. It is a structural condition — specifically, the condition in which the auditor's incentive to require mana…
1 month ago
Bre-X Minerals 1997 : Chain of Custody Failure & Physical Asset Verification Fraud │GP/LP Analysis - 3 Red Flags │EP62 T2
Season 2 Episode 62
This GP/LP technical episode dissects the chain of custody framework for resource investments in full institutional detail: what the chain requires a…
1 month ago
Bre-X Minerals 1997 : The World's Largest Gold Deposit. One Geologist. One Preparation Shack. No One Watching — EP62 T1
Season 1 Episode 62
In 1993, Bre-X Minerals paid $80,000 for exploration rights to a property near the Busang River in East Kalimantan, Indonesia. Four years later, it h…
1 month ago
Olympus Corporation 2011 : He Was CEO for 13 Days. Then He Read the Acquisition Files. Then He Was Fired — EP61 T1
Season 1 Episode 61
In October 2011, Michael Woodford became CEO of Olympus Corporation — one of Japan's most prestigious industrial companies, with a hundred-year histo…
1 month ago
Olympus Corporation 2011 : Tobashi Scheme & Goodwill Manipulation as Loss Concealment │GP/LP Analysis - 3 Red Flags│EP61 T2
Season 2 Episode 61
This GP/LP technical episode dissects the tobashi mechanism in full institutional detail: how unconsolidated offshore vehicles absorbed Olympus's unr…
1 month ago