Through the Looking Glass: Investing in China

Editor’s note: Neo Wang is the lead China economist/strategist at Evercore ISI, the leading U.S. research firm according to Institutional Investor’s annual survey.1 Evercore Wealth Management has limited investments in China, all of which are made through broader emerging market…

Booms and Busts: A Brief History of Capital Spending Cycles

Bill Gates has a good line on change: “People,” he says, “often overestimate what will happen in the next two years and underestimate what will happen in 10.” We see evidence of that now, in the rush to exploit Artificial…

CapEx: Too Much of a Good Thing?

Public and private capital expenditure, or CapEx, is at record highs in the United States. From semiconductor manufacturing to cloud infrastructure expansion, to boosting the energy grid, incorporating Artificial Intelligence, or AI, into our lives isn’t cheap. At the same…

Q&A with Ricardo Lombardi at ICG Strategic Equity

Editor’s note: Investors interested in exposure to General Partner-led (“GP-led”) secondaries, as described by Nigel Dawn here, the global head of the Private Capital Advisory Group at Evercore, may be interested in single asset continuation vehicles. Ricardo Lombardi, Global Head of…

Q&A with Nigel Dawn on Secondary Market Continuation Funds

Editor’s note: Nigel Dawn is the global head of the Private Capital Advisory Group at Evercore, leading a global team in originating and executing secondary market transactions for owners and managers of private financial assets (private equity, private infrastructure, and…

Shaking it Off: The Markets and Geopolitical Crises

When all the world seems to be going to hell, what should a prudent investor do? Hold tight or buy seems to be the answer, in most situations. For those with a long-term term horizon, equity investments made right before…

The Duality of Artificial Intelligence: An Investment Perspective

Is Artificial Intelligence making life better? It’s certainly not making it any calmer, with AI-generated disinformation stoking two horrific hot wars and threats to democracy around the world. And only 10% of Americans recently surveyed by Pew said that they…

Making Do: Federal Shutdowns, States and Municipalities

Federal shutdowns may be no way to run a country, but at the state and local level, governments generally make do. At present, municipal bond issuers are in generally good financial shape and should be able to weather the inevitable…

Watching the U.S. Debt: The Implications for Investors

“A national debt, if it is not excessive, will be to us a national blessing,” said Alexander Hamilton in 1781. What might he have made of our $26 trillion debt? At the current clip, U.S. federal debt held by the…

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