Insights

Perspectives from Mavros.

Points of view on private markets, merchant banking, family offices, and building enduring enterprises, from the team that advises them.

Public MarketsJul 2026

The Shrinking Public Market

The number of American public companies has halved since the 1990s. The market you can buy is now a small, late, picked-over slice of the economy, and your index fund misses the part that grows.

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Private MarketsJul 2026

Building a Private Allocation

The hard part of private markets is not picking funds. It is the portfolio-construction traps no one warns you about, the ones that forced endowments to sell at the bottom.

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Family OfficeJul 2026

The Dynasty Trust Playbook

Most estate planning asks who gets what when you die. The families who compound wealth across generations ask a sharper question, and answer it with a structure most people have never used.

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Investment BankingJul 2026

The Great Transition

The largest transfer of business ownership in history is here as the boomer generation retires. It reads like a seller's market. For most owners it will be the opposite, and the reason is preparation, not the economy.

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Private AssetsJul 2026

The Stay-Private Era

The most valuable companies in the world now stay private for a decade or more, and grow to rival the public giants. Why the public exit narrowed, what a private valuation is actually worth, and how the founders and families whose wealth is locked inside these companies can turn it into liquidity, protect it, and pass it on.

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Family OfficeJul 2026

Structure Your Estate Before You Sell Your Business

Selling your company is likely the largest financial event of your life. The work that decides how much your family keeps happens before the sale closes, not after.

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Family OfficeJul 2026

The Zeroed-Out GRAT: Passing the Upside to Your Heirs at Almost No Tax Cost

A grantor retained annuity trust lets you move an asset's future growth to the next generation while using little or none of your lifetime exemption. Here is how the zeroed-out version works, and when it shines.

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Investment BankingJul 2026

Sell-Side vs. Buy-Side in the Lower Middle Market

In the lower middle market, private equity now drives most deals. Your most likely buyer is not a strategic paying for fit. It is a sponsor solving for a return, and that changes everything about how you should sell.

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SportsJul 2026

The Economics of a Franchise

Teams do not make their money from tickets or from winning. They make it from media rights and scarcity, and the most valuable thing about owning one may be the tax code.

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Public MarketsJun 2026

Concentration in the Index Era

You bought the index for diversification. You own a concentrated bet on a handful of stocks and a single factor, and the flows that inflated it can reverse together.

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PerspectiveJun 2026

The Case for an Integrated Merchant Bank

Why founders, families, and institutions are better served by a single relationship spanning advice, capital, and opportunity instead of a patchwork of vendors.

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Private MarketsJun 2026

The J-Curve, and How to Beat It

Everyone knows private funds lose before they earn. Fewer know the curve is a function of how you enter, not a law of nature, and that much of the premium you are promised is an accounting illusion.

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Business OwnersMay 2026

Reading Your Term Sheet Like a Banker

Founders read the valuation. Bankers read the waterfall. The headline number is the least important term on the page, and a higher one often leaves you with less.

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Occasional research and points of view on private markets, family office, and the decisions that define a company. No noise.