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2024 Investment & Market Updates: How to Reverse a Painful Year with AI Hype and a Frenzied 2-Month Rally

Brian DeChesare

The markets in 2023 were almost a complete reversal of 2022, and hardly anyone – me included – saw it coming. This result is disappointing because it ends my 4-year streak of matching or beating the market, and it’s all because of my bad decisions. But my real estate investment funds were down ~10% , which hurt.

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Reaping the Whirlwind: A September 2022 Inflation Update!

Musings on Markets

By the start of 2022, the window for early action had closed and for much of this year, inflation has been the elephant in the room, driving markets and forcing central banks to be reactive, and its presence has already induced me to write three posts on its impact.

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Interim Guidance on Stock Buyback Excise Tax Confirms Broad Application to M&A and Capital Market Transactions

Cooley M&A

1] On December 27, 2022, the Department of the Treasury (“Treasury”) and the IRS issued Notice 2023-2 (the “Notice”), providing interim guidance on the Excise Tax. This post highlights key guidance from the Notice as it relates to common M&A and capital market transactions.

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In Search of a Steady State: Inflation, Interest Rates and Value

Musings on Markets

The nature of markets is that they are never quite settled, as investors recalibrate expectations constantly and reset prices. Clearly, we are not in one of those time periods, as markets approach bipolar territory, with big moves up and down.

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Data Update 2 for 2022: US Stocks kept winning in 2021, but…

Musings on Markets

In a post at the start of 2021 , I argued that while stocks entered the year at elevated levels, especially on historic metrics (such as PE ratios), they were priced to deliver reasonable returns, relative to very low risk free rates (with the treasury bond rate at 0.93% at the start of 2021). The year that was.

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A Follow up on Inflation: The Disparate Effects on Company Values!

Musings on Markets

In general, higher and more volatile inflation has negative effects on all financial assets, from stocks to corporate bonds to treasury bonds, and neutral to positive effects on gold, collectibles and real assets. The former is short hand for the small cap premium and the latter is the proxy for the value factor in returns.

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Can the World’s Largest Carmaker Handle the ESG Pressure?

Andrew Stolz

The item “Other” contains the treasury stock. The company pays out dividends on a consistent basis. Dividend payout ratio is almost constant around 30%. Failure to keep up with technological changes could result in loss of market share. Solid dividend and share buyback offer attractive return even without upside.