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Bharti Hexacom is a communications service provider offering consumer mobile services, fixed-line telephone & broadband services under the brand Airtel. In 2004, it was acquired by Bharti Airtel and renamed Bharti Hexacom Ltd. Established in 1995, the Company was originally incorporated as Hexacom India Ltd. Investment Rs.
In the short run, there can be distortions in public market valuations as we saw in 2001 and we saw prior to that in 2007, and prior to that in 2000, in ‘99. Probably somewhere around 2004 or ‘05, we started doing things by ourselves. Valuations go up and you saw it, of course, in the late ‘90s, in the tech sector. BARATTA: Yes.
But that valuation, to be able to come up with the valuation, to be then able to work in a restructuring process, bankruptcy process, and say, Hey, I think at the end of this, we are buying debt at 50 cents. We, we went from a firm in 2004 even. So I also have to ask, I know you opened the London office in 2004.
Then the volatility and, and the valuation makes an enormous difference. They understand that, they recognize it and you know, we’re always communicating with them to sort of help them through those periods. But it makes a big, big difference to your long-term outcomes if you can just avoid those big losses.
Literally the first check-in to Robinhood, which went public in 2021 at about a $34 billion valuation. RITHOLTZ: 2004, 2005. RITHOLTZ: He was the first (inaudible) in round B at the higher valuation. Is it about the valuation? They kept the reputation intact by communicating with their investors. LINDZON: Yes.
The New York Fed is kind of, I don’t know how to say this first, amongst the regional feds, because you’re located right in the heart of the financial community. What is the communication like back and forth between the New York Fed and major players in finance, especially in the midst of a crisis like that?
And arguably, they went from an underpriced position in 2004 I’d say — RITHOLTZ: Right. RITHOLTZ: The research department in the FOMC don’t seem to communicate. SCHWARTZ: But even broad developed markets, they’re half the valuation of the U.S. I mean, it’s used to be called FANG. SIEGEL: Right.
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