Monthly Investment Outlook - September 2021

What can the math behind the valuation of a cloud-based restaurant software and the collapse of China's second largest property developer tell us of the markets?

In this month's memo we:

• Take a look at the highly inflated valuation of Toast, Inc and how it probably wont be the next best thing since sliced bread

• Look "under the hood" at Evergrande's constant deterioration over the last 4 years

• Explain how Evergrande's default and Toast's hefty valuation, are somewhat related and how these should be a wakeup call to both investors and Central Bankers

• Offer 4 simple investment guidelines that well-designed portfolios should follow