Evergreen Gavekal

This week, Evergreen's Michael Johnston shines light on how early-stage and growth companies have faced challenges since early 2022, marked by rising interest rates, declining valuations, and reduced exit opportunities. Venture capital (VC)-backed companies have seen a sharp downturn, but recent trends suggest a potential recovery. Read more here: https://ow.ly/3KAz50Tmczy

This week Evergreen's Sage Swanson, walks us through the recipe of being a successful do it yourself investor. She explains while it is beneficial to any business to onboard more clients, people who are legitimately equipped to do it themselves can have success managing their own portfolio. The majority of investors choosing the do-it-yourself (DIY) approach, however, are missing some key components to create that long-term success. Read more here: https://ow.ly/WBZN50TgWNL

This week we present a podcast, Behind the Memo, in which Howard Marks is joined by Morgan Housel, the bestselling author and partner at the Collaborative Fund. They explore the relationship between leverage and longevity, the nature of risk, and the eternal relevance of Voltaire’s famous saying: “History doesn’t repeat itself. Man always does." Read more here: https://ow.ly/ZF6R50T9XQE

In setting out their election platforms, both Democrats and Republicans want to address housing affordability, which has become a hot-button issue for US voters. Two and half years of tight monetary policy has left potential homebuyers unable to afford a new property and persuaded potential sellers that they should sit tight and keep enjoying cheap finance locked in years ago. Read more here: https://ow.ly/427550T4w0F

This week, Evergreen's Kaeli Kaainoa, CFP® discusses what to do with cash balances that have become unwieldy, something we’ve started to notice a lot more frequently with investors. Read more here: https://ow.ly/49Mp50SYWnH

Evergreen Ventures, the alternative investment arm of Evergreen Gavekal, is proud to announce our strategic investment, alongside GT Capital and Freestone Capital Management, in the acquisition of Seattle’s iconic Smith Tower. We believe the shift away from Commercial Office Space has reached or is nearing its bottom.  As the labor market tightens, we anticipate a resurgence in in-office work policies. Additionally, the City of Seattle has made strides to improve safety in the downtown corridor, a commitment we expect to see accelerated with the 2026 World Cup hosted just a few blocks from Smith Tower. We acknowledge that the road ahead may not be smooth, but we feel that the building’s purchase price more than adequately compensates our investors for these risks. Although this high-profile investment might grab the spotlight, Evergreen Ventures has been quietly and consistently investing client capital into private opportunities for years. “Hopefully, this announcement serves as a notice to the community and a reminder to our clients that Evergreen has worked hard to build a private investment platform that we believe goes beyond what’s traditionally accessible to most investors." Tyler Hay, CEO Read more here: https://ow.ly/2RPl50SUZ99 https://lnkd.in/g8XpTm_9 #smithtower

This week's market dip in the Nasdaq, Nikkei, and US dollar raises a critical question: should investors buy on the dip or seek new opportunities? Read more here: https://ow.ly/YaE450SU3Mm

This week's newsletter highlights our latest podcast, one of Evergreen Gavekal wealth advisors Kaeli Kaainoa, CFP® sits down with our most recent addition to our team, Melissa Hilty, an attorney with an LLM in Taxation and over 15 years of experience with the IRS. They discuss her extensive tax expertise, the invaluable lessons learned from her litigation career, and how she will support our clients with her deep knowledge of tax code. Listen here: https://ow.ly/JGzo50SQscB

This week, Michael Johnston, shines a spotlight on how the Space Race sparked a wave of innovation that continues today as private companies and governments drive advancements in satellite connectivity and space technology. Geopolitical tensions and collaborations between public and private sectors are fueling new investments, making space exploration a crucial arena for technological and strategic developments. Read more here: https://ow.ly/uQvE50SKptX

This week's newsletter features a presentation by Evergreen's Co-Chief Investment Officer, Jeff Dicks, CFA. He reflects on the third quarter of 2024 and reviews the investment committee's market outlook in 34 charts. In addition to these insights, Jeff also discusses key themes to pay attention to for the remainder year. Read more here: https://ow.ly/Mr6t50SFCXy