The Ledger
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Galbraith: Success Academy achieved New York's highest test scores with $35k average family income
“We're now up to 15,000 kids, and they had the highest test scores in the entire state of New York. The average family income is 35,000 dollars a year.”
Success Academy operated five top-10 NY schools despite bottom-10% wealth demographics
“Success had, I think, something like five or six of the top 10 schools in the entire state of New York last year, and the demographics of our population were
Are typically in the bottom 10% of wealth.”
Galbraith: Trump tax cuts eliminated major brewery excise tax on Narragansett
“Because believe it or not, Gansett was viewed as a major brewery under the old tax laws, and so we had a huge excise tax that was actually ascribed to the company, and that's going away.”
Galbraith: Buffett turned a $5M TV station investment into a 10-bagger at Grinnell
“He put like a third of the endowment into TV stations. And he did it on a highly levered basis, so they put in, like, five million dollars of equity to make a seventy million dollar investment, and it was like a ten-bagger.”
Galbraith: Value vs momentum return divergence matches dot-com bubble levels
“So if you look at the factor returns to value versus the factor returns momentum, they're about as divergent as they've been since the tech bubble.”
Success Academy Charter Schools aims to educate 100,000 students within a decade
“We're going to have something in the forties in terms of the number of schools, and within the next decade, we'll be
Teaching a 100,000 kids.”
Galbraith: Average net cost for a student at Yale is around $24,000
“The average person at Yale is being charged about 24,000 dollars a year.”
Galbraith: Families earning under $40,000 pay nothing to attend Yale
“So people making between zero and 40,000 actually pay nothing to go to Yale, right?”
Galbraith: All 17 students in Success Academy's inaugural graduating class gained college admission
“This is our first graduating class of success. It's 17 kids, so I got involved 10 years ago. That seventeen's gonna be 5205 hundred within five years. All 17 got into college.”
Winning Championship promotion playoff was worth around £150M to Derby County
“Teams play off, and the winner of this play-in game gets promoted, and it literally would have meant probably a hundred and fifty million pounds to us had they gotten promoted.”
Rhode Island Governor Gina Raimondo angel-invested in Narragansett Beer's revival
“In fact, the current governor of Rhode Island, Gina Raimondo, another Yaley, Was the angel, and they needed money, and frankly, the angel had overpaid, or the company hadn't delivered as they thought”
Narragansett Beer's revenue grew from $87,000 to $15 million under new ownership
“We, when we bought the business, when it was originally bought, It went from, as I said, current dollars of a billion had 87,000 dollars in revenue. I mean, it's just amazing. And today we're up to about fifteen million.”
Morgan Stanley fell from 4x book value in 2000 to 0.5x
“I picked up the broker dealers in 99, 98, 99, when they were all the IP ago, you know, and I joined Morgan Stanley when it was trading at about four times book value. And as we well know, it went to, I think it troughed at .5 a book.”