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  • The Geek's Reading List: Jan 29

    Posted By: Brian Piccioni

    Highlights from this week's tech report include Tesla, 3D printer and OCP. The Geek's Reading List is a weekly publication written by Valitas advisor, Brian Piccioni.

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  • Canadian Private Market Recap: Jan 29

    Posted By: Anan Sivapalu & Ann Zhang

    The North American equity markets continued their recovery, with their second consecutive week of gains. Plans for further stimulus from the European Central Bank and the Bank of Japan helped calm the markets. The negative impact of oil prices on the equity markets is beginning to show less of an impact. On the other hand, the stimulative effect of lower oil prices is beginning to manifest itself in the broader economy. While credit markets remain healthy for mid-market transactions, the appetite for credit risk in the top tier of the market seems to be moderating. The largest leveraged buyout announced last year, Carlyle Group LP’s purchase of Symantec Corp.’s Veritas data-storage unit required a significant revision of financing terms due to weaker high yield bond markets. The revised agreement increased the equity portion of the deal to 40 percent from 33 percent, and reduced leverage to 5.8 times EBITDA from 6.7 times EBITDA.

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  • The Geek's Reading List: Jan 22

    Posted By: Brian Piccioni

    Highlights from this week's tech report include self-driving vehicles, adblock and smart-home network. The Geek's Reading List is a weekly publication written by Valitas advisor, Brian Piccioni.

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  • Canadian Private Market Recap: Jan 22

    Posted By: Anan Sivapalu & Ann Zhang

    In the latter half of last week, the equity markets partially recovered from their tumultuous start to 2016. All major North American equity indices rose with the TSX Composite seeing one of the highest weekly gains. An increase in oil price, strengthening Eurozone economy and expectation of further monetary stimulus stabilized the equity markets. However, the positive sentiment was dampened by the lack of expected Chinese growth. The leveraged loan and high yield markets have several large LBO deals outstanding trying to close next week. The market sentiment for high yield credit will greatly depend on the outcome of these deals. However, the mid-market for credit has been much less volatile through the recent market turmoil.

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  • The Geek's Reading List: Jan 15

    Posted By: Brian Piccioni

    Highlights from this week's tech report include self-driving vehicles, adblock and smart-home network. The Geek's Reading List is a weekly publication written by Valitas advisor, Brian Piccioni.

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  • Canadian Private Market Recap: Jan 15

    Posted By: Anan Sivapalu & Ann Zhang

    Last week, the North American equity markets saw their second consecutive – albeit less severe – decline. These declines were driven primarily by continued concerns about a slowing Chinese economy and a slowdown in U.S. industrial output. Oil prices will remain under pressure for the foreseeable future as sanctions on Iranian exports are lifted this week. These factors have driven the Canadian dollar to lows not seen since 2003. Despite the volatility in the equity markets, there has been a limited impact on credit markets.

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  • The Geek's Reading List: Jan 8

    Posted By: Brian Piccioni

    Highlights from this week's tech report include AT&T, 3D-Printer and G.M.. The Geek's Reading List is a weekly publication written by Valitas advisor, Brian Piccioni.

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  • Canadian Private Market Recap: Jan 8

    Posted By: Anan Sivapalu

    North American equity markets experienced their steepest decline since August 2011. The major equity indices fell sharply last week as concerns about the Chinese economy and multiple “circuit breaker” shut downs of the Chinese equity market overshadowed the positive U.S. employment report (292,000 jobs added in December and positive revisions to October and November). The U.S. mid-cap market was hit particularly hard. As oil prices continued to slide, the Canadian dollar reached lows not seen since May 2003. Despite the turmoil, credit markets showed little apparent impact.

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