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Cost of Capital. The Past, Present and Future? | Part 9
In Part 9 of our Cost of Capital series on inflation, we discuss how administration policy failures drove the US into this inflationary environment. We then posit whether the Fed has the willingness to aggressively fight inflation in the face of a potential economic slowdown.
Read MoreCost of Capital. The Past, Present and Future? | Part 8
In parts 1-7 of our Cost of Capital series, we discussed our views on inflation and how it would lead to higher interest rates and associated declines in asset prices. Now that this prediction has become reality, we move our discussion to charting a path forward. In Part 8, we highlight the risks and potential outcomes of a Fed tightening cycle pushing the economy into a recession or stagflation period.
Read MoreCost of Capital. The Past, Present and Future? | Part 7
In part 7 of our series on the Cost of Capital, we discuss the inflation-related data points market participants need to follow as the US economy enters what is uncharted territory for all but the most seasoned investors. We also highlight certain geopolitical events that could have an impact on inflation and interest rates domestically.
Read MoreInvestment Bankers & Distress: Protection and Optionality | Reed Smith Distressed Situations Podcast
Gordian Group President and Head of Restructuring and Distressed M&A, Peter S. Kaufman, is a guest on Reed Smith’s Point By Point Podcast, discussing the value of investment banking services to distressed companies with Reed Smith partner Keith Aurzada.
Read MoreCost of Capital. The Past, Present and Future? | Part 6
In Part 6 of the Cost of Capital series, we discuss one of the main drivers behind current (and likely future) elevated inflation levels: the cost of labor.
Read MoreCost of Capital. The Past, Present and Future? | Part 5
In Part 5 of the Cost of Capital series, we posit that the days of Quantitative Easing and easy money are coming to an end and that the US has reached a turning point on inflation and interest rates. We believe this development will pressure equity valuations and drive widening credit spreads.
Read MoreSenior Living Facilities Outlook | Waller Law Point by Point Podcast
Waller Law partners Tyler Layne and Jesse Neil discuss the senior living facilities outlook in the wake of COVID-19 with Gordian Group President and head of restructuring and distressed M&A, Peter Kaufman and CEO Henry Owsley on Waller Law’s Point By Point Podcast.
Read MoreSenior Living – A Tale of Two Outcomes? | Gordian Perspectives for July 2021
The senior living sector is experiencing stress on various fronts, as we set forth in our June 29th post. Occupancy contraction, increasing costs and high leverage have converged to create crises for a huge percentage of industry participants
Read MoreNursing Home Bankruptcies | Gordian Perspectives for June 2021
Many economic models are changing, and we want to call your attention to the adult care industry – nursing homes, rehab centers, retirement communities. Nursing home bankruptcies will present numerous risks and opportunities for investors in the coming cycle.
Read MoreCost of Capital. The Past, Present and Future? | Part 4
In Part 4 of our Cost of Capital series, we take a closer look at the dichotomy between inflation and interest rates. We discuss how easy monetary policy and a “cash is trash” mindset have resulted in a decade of declining credit and equity risk premia. A return to reality in the relationship between inflation and interest rates could have a negative effect on asset valuations.
Read MoreCost of Capital. The Past, Present and Future? | Part 3
Part 3 in our Cost of Capital series considers potential monetary and fiscal policies to combat rising inflation and the inequality created by a decade of quantitative easing. The effect on the cost of capital of these policies and the implications for asset prices (both equity and fixed income) will likely be painful for investors.
Read MoreInflationary Trends Continue | Gordian Perspectives for May 2021
Related to our ongoing series on the cost of capital, we wanted to highlight notes from a recent webcast with James Grant, founder and editor of the Interest Rate Observer. Grant makes several salient points regarding inflationary trends in the US and the impact the Federal Reserve’s necessary response will have on U.S. markets.
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