In May 2019, the inaugural edition of our now-annual “IPOs to Watch” series highlighted a selection of Initial Public Offerings (IPOs) for investors to watch. At the time, we titled the article “Chasing Unicorns,” reflecting the unprecedented surge of unicorn companies – private entities valued at over a billion dollars… Read More
Despite initial predictions of a continued market decline from 2022 into 2023, the market has exhibited remarkable resilience this year, approaching all-time highs as expectations around inflation and the Fed’s next move have shifted. Recently, Evergreen’s partner, Louis Vincent-Gave, published a comprehensive review of several unexpected bull markets that we… Read More
After last Wednesday’s pivot by the Federal Reserve, the US dollar slumped, cyclicals rallied hard, gold and precious metal miners soared, and long-bond yields around the world, but especially in the US, fell. On the following day, the European Central Bank came out and essentially said “we don’t know what… Read More
Investing in emerging technologies isn’t for the faint of heart. This reality became abundantly clear when two leading companies in the Space and Artificial Intelligence (AI) industries experienced both literal and figurative combustible moments last week. In the literal sense, Elon Musk’s SpaceX launched its highly anticipated next-generation megarocket, dubbed… Read More
A little under a month ago, various Federal Reserve governors started to signal that the US central bank might have reached its terminal destination in this hiking cycle. Of course, such statements were replete with caveats that short rates would stay “higher for longer”, even as history shows that, aside… Read More
On October 19th, the Wall Street Journal (WSJ) published an article by Eric Wallerstein entitled, “The Trusted 60-40 Investing Strategy Just Had Its Worst Year in Generations. Higher interest rates and inflation are upending millions of Americans’ retirement planning. Wall Street’s boilerplate mix of stocks and bonds isn’t cutting it… Read More
A political deal may have been cobbled together to keep the US government operating until November, but on Monday treasuries kept selling off. As investors game out what the funding deal means for monetary policy, they are unlikely to find succor in the US’s poor fiscal outlook. Some analysts… Read More
Activity in the Initial Public Offering (IPO) market plays a pivotal role in guiding private market companies and investors alike. While IPO activity all but dried up in 2022, the IPO market has shown signs of life in 2023. In 2022, a meager 71 IPOs managed to raise $7.7 billion… Read More
If money represents the lifeblood of the economic world, then commercial banks are the beating heart that pump it around the system. This is why several Gavekal indicators—notably our velocity indicator—are built around the absolute and relative performance of bank stocks. One rule of thumb states that a country or… Read More
This edition of Evergreen Chartbook was recorded in a webinar format where Co-Chief Investment Officer Jeff Dicks discusses key charts driving this year’s resurging stock market, current risks facing financial markets, and how Evergreen is positioning client portfolios. DISCLOSURE: Securities highlighted or discussed in this communication are mentioned for… Read More
