Drew Bernstein

    Recent Posts

    How to Deal with an Accounting Crisis

    Over the past twelve months, accounting scandals have tarnished some of the most illustrious corporate names and embarrassed some of the putatively smartest investors on Wall Street.

    In Forensic Accounting, short sellers

    Looming Demographic Crisis Will Fuel Boom in China Healthcare M&A

    By Drew Bernstein

    In 2016 China emerged as the world’s most active player in cross-border M&A, with $225.4 billion of outbound deals, more than doubling the prior record of $102 billion in 2015 according to Dealogic. While the pace of dealmaking has slowed in 2017 as the government seeks to stanch the outflow of capital, China has arrived as a major player. The types of assets Chinese buyers are seeking has shifted from primarily energy and resource plays a few years ago to now focus on globally recognized brands and advanced technologies.

    Given the very powerful demographic dynamics in China, we should expect that healthcare is likely to become one of the most active sectors for both M&A and innovative partnerships in the years to co

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    In M&A Advisory, Chinese Healthcare Industry, China demographic trends

    The Challenges of Auditing Abroad

    In China Financial Due Diligence, Internal Audit & Compliance, Advisory, Audit & Assurance Services

    Five Keys to Attracting Chinese Financing

    By Drew Bernstein

    As China steps up as a major deal player, companies and advisers need to be able to view the world through Chinese eyes

    In just the past few years China has gone from the world’s largest destination for capital investment, to a net exporter of capital. This flood of outbound investment is a game changer for the global economy, and needs to factor into the strategy of every company that is seeking access capital or maximize value for its assets.
    In China Financial Due Diligence, Cross Border M&A, China Joint Ventures

    The Coming Chinese Invasion: Why Wealthy Chinese Are Investing in US Assets

    By Drew Bernstein

    In just a few decades, China produced the second largest population of wealthy and ultra-wealthy in the world. Today, China ranks a fast-rising #2 in both the number of millionaires (2.4 million vs. 7.1 million in the U.S.)* and billionaires (213 vs. 536 in the U.S.) ** globally. China’s top 1% own over one-third of total assets, quite astonishing in a putatively socialist country where most of the largest companies are still state owned enterprises.

    In EB-5 Advisory Services, Cross Border M&A, China Real Estate Investment

    Pulling Back the Curtain on China Short Sellers

    By Drew Bernstein

    Following a number of successful listings by Chinese technology companies in the past six months, U.S. investors are eagerly awaiting the planned listing of Alibaba. The world’s largest e-commerce company will be the largest Chinese offering to date and perhaps displace Facebook as the largest technology IPO of all time.

    Investment banks are jostling for a place at the banquet table for a slice of what might be a $200 billion market cap valuation, and hoping that investors’ appetites will be far from satisfied. If the price pops, Alibaba could be followed closely by JD.com, Sina’s Weibo, and a host of other smaller Chinese companies, which will seek to take advantage of the festive mood to launch on the U.S. stock markets.

    One group of investors that is surprisingly enthusiastic about this new crop of Chinese public companies are the China short sellers.

    In Forensic Accounting, China short-selling, short sellers
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