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  • The Geek's Reading List: Mar 25

    Posted By: Brian Piccioni

    Highlights from this week's tech report include Silicon Valley, Apple and Ford. The Geek's Reading List is a weekly publication written by Valitas advisor, Brian Piccioni.

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  • Canadian Private Market Recap: Mar 24

    Posted By: Ann Zhang, Paris Aden & Anan Sivapalu

    An 11% decline in Q4 corporate profits drove North American equity indices down last week, halting the winning streak seen over the last few weeks. In the large cap markets, valuation multiples remain at or near 10-year highs, despite recession fears and continued weakness in the energy sector. This sentiment has seeped into the credit markets, increasing mid-market credit spreads.

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  • The Geek's Reading List: Mar 18

    Posted By: Brian Piccioni

    Highlights from this week's tech report include AT&A, Apple and Microsoft. The Geek's Reading List is a weekly publication written by Valitas advisor, Brian Piccioni.

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  • Canadian Private Market Recap: Mar 18

    Posted By: Ann Zhang, Paris Aden & Anan Sivapalu

    Last week, the S&P 500 moved into positive territory for the first time this year, while the small cap index (the Russell 2000) continued to lag, down about 3% year to date. Also on a year-to-date basis, the TSX composite is now up almost 4% year to date and almost 11% on a U.S. dollar basis. Despite this recent strength, the Canadian equity benchmark is still well off its levels from this time last year and far below its all-time high, particularly on a U.S. dollar basis.

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  • The Geek's Reading List: Mar 11

    Posted By: Brian Piccioni

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

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  • Canadian Private Market Recap: Mar 11

    Posted By: Ann Zhang & Anan Sivapalu

    Last week, the North American markets continued their gains for a fourth consecutive week. The markets were helped by the ECB, the Fed and the stabilizing oil prices. The European Central Bank’s (ECB’s) decision to dampen the deflationary condition in Europe had a positive effect on the global equity markets. The ECB will implement negative interest rates, setting the rate at minus 0.4 percent while pursuing other quantitative easing measures. In addition to the ECB’s action, the market expects the Fed to hold its interest rate at its current level. The curbing of oil production by the OPEC, especially the effect of controlled Iranian oil production are expected mitigate any further decline in oil prices. The futures market seems to be suggesting that oil prices have now hit the bottom (see chart below). Leverage levels for middle market loans in the U.S. remain high by historical standards, however the price of this credit risk is now well above levels seen over the past year.

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  • The Geek's Reading List: Mar 4

    Posted By: The Geek's Reading List: Mar 4

    Highlights from this week's tech report include Google self-driving car, GM and IBM. The Geek's Reading List is a weekly publication written by Valitas advisor, Brian Piccioni.

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  • Canadian Private Market Recap: Mar 4

    Posted By: Anan Sivapalu & Ann Zhang

    Last week, the North American equity indices continued their recovery, largely erasing the losses seen at the beginning of the year. Rebounding oil prices and further stimulus planned by the G20, especially by the ECB to curb deflationary pressure in the Eurozone have contributed to the rebound seen in the last three weeks. While leveraged credit spreads in the mid-market remain moderate and total leverage levels remain healthy, we note leverage levels have pulled back recently from the 5x-plus levels seen as recently as a few weeks ago.

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