INSIGHTS
Wind in the Willows
Fitch Downgrades USA
Fitch joined S&P with a rating one notch below their best rating at AA+
Echoes of a Banking Crisis
Earlier this year, SVB and Signature Bank failed over a weekend and the FDIC took custody of the majority of the loans from each.
Strip Malls - Hottest Thing in Real Estate
In a time when we hear negativity about commercial real estate, it’s great to hear about a success story. It’s the strip mall around the corner from your house.
ISM – July Manufacturing PMI
The Institute for Supply Management (ISM) put out their Manufacturing Purchasing Managers Index (PMI) numbers.
Fed Not Ready to Declare Victory
At this point, it’s logical to ask the question, “what does the Fed need to see to determine that they no longer need to raise rates?”
Migration, Underwriting, and Imperfect Science
Migration, Underwriting, and Imperfect Science. The past several years have, without a doubt, seen some of the strangest behavior in human history.
Direct Lending Slowing?
There are a lot of misleading headlines out there. Last week, the one that stuck out to us suggested that private credit and direct lending were slowing.
PE Using More E
PE Using More E. With banks on the sidelines, and debt getting more expensive, private equity companies are often using more equity to get deals done.
VC Trends Show Market Maturity and a Likely Reversion to the Mean
Last week, PitchBook put out an article about 5 major trends they are seeing in Venture Capital (VC) markets.
Apartment Demand – The Cycle Continues
The drivers of supply and demand are important inputs that dictate where our next investments will take place.
AT&T, Bud Light, and Why ESG Matters to Every Investor
Investors in AT&T got an ugly surprise when the WSJ reported that many of the lines are still in the ground contaminating soil and drinking water.
Pay is Beating Inflation - Everybody’s Playing in the Heart of Gold Band
That’s right, earnings season has started, big banks have crushed lowered expectations, and everything is awesome....inflation is a thing of the past.
Unions And Inflation: The More That You Give, The More It Will Take
Unions And Inflation. The Biden Administration thinks a lot about workers.
Affordable Housing Reset
Affordable Housing Reset. As if the problem wasn’t acute enough, the US is about to hit a wave of new uncertainty for affordable housing.
Summer Doldrums in Financial News
Summer Doldrums in Financial News. News in financial markets is slow, many market participants are sitting on a chaise lounge in East Hampton, NY, Nantucket, MA, or Dewey, DE, sipping on a cold beverage trying to ignore what news could come in the fall.
Cash Pile – Market Sentiment or Earnings Yield?
Cash assets under management are at $7.8 Trillion according to Bank of America. This is an astounding number, and, in many cases, investors could look at this number as a sure sign of economic fear globally. In fact, as it currently stands, this number factors heavily in to BofA’s “Bull & Bear” indicator, which
PE Maturity Wall
PE Maturity Wall. Last week, PitchBook, one of the global authorities on all things private investing, brought up a fascinating point.
First Half Consumer Wrap-up
At the midpoint of the year, we like to take stock of the six months that have been and use that context to reassess the back half.
Property Price Uptick? Such a Long Long Time to be Gone and a Short Time to be There
Property Price Uptick? Such a Long Long Time to be Gone and a Short Time to be ThereIt’s often difficult to interpret short-term pricing data that is meant to give market participants clarity.
The Wealth Manager’s New Best Friend
The Wealth Manager’s New Best Friend. Over the last several years, wealth managers have seen a lot of disruption. Regulatory changes, technological changes, and changes in traditional asset allocation have all made life tougher for financial advisors.