Evergreen Gavekal

This week, Evergreen's Michael Johnston explores how the IPO market may be poised for a significant rebound in 2025. Improved financing conditions, a robust pipeline of high-profile private companies, strong equity markets fueled by the AI boom, and a business-friendly political climate are creating an environment ripe for IPO growth. While uncertainties remain, many are cautiously optimistic that next year could mark the long-awaited resurgence of public listings. Read more here: https://ow.ly/v34t50UgZxP

This week, Evergreen's Katie Vercio, CFP? highlights proactive steps to optimize your financial plan and maximize tax efficiency as the year comes to an end. Key considerations include meeting deadlines for retirement contributions, distributions, charitable giving, and estate planning. Acting early helps avoid delays often experienced at year-end and ensures your financial goals remain on track. Read more here: https://ow.ly/G7ul50Uc1Be

The 2018 U.S. semiconductor ban spurred China’s industrial self-sufficiency, reshaping global trade and fueling economic divides. Emerging markets benefit from China’s deflationary exports, while Western protectionism drives inflation. Persistent inflation in sectors like U.S. haircut prices highlights the broader economic impact of these shifts. Read more here: https://ow.ly/LHZ050U8cce

This week, Evergreen's Michael Johnston breaks down how following Tuesday’s election, the cryptocurrency market surged, with Bitcoin breaking past $75,000 for the first time. This rally underscores growing interest in digital assets as potential hedges against inflation. Key questions emerge about whether this momentum will last and how a new administration might shape the regulatory landscape. Read more here: https://ow.ly/q67J50U2qjm

The U.S. Treasury ETF TLT is down below its 200-day average and heading for a fourth year of negative returns. Despite strong retail interest pushing the ETF’s market cap from $10 billion in 2019 to $60 billion today, long-term bonds remain under pressure. This ongoing bond sell-off can be attributed to several key economic factors shaping today’s market. Read more here: https://ow.ly/ueS950TXq6U

This week, Evergreen's Katie Vercio, CFP? highlights that since 2020, there's been a lot of confusion about Required Minimum Distributions (RMDs). In July 2024, the IRS cleared things up by explaining the 10-year rule for all beneficiaries. They also waived any penalties for those who didn’t take inherited RMDs between 2020 and 2024, even if they were supposed to. There are now smart estate and tax planning strategies that can be used with this 10-year rule. Read more here: https://ow.ly/jFtJ50TSFLb

This week, tune in as Jeff Dicks, CFA, Evergreen's Co-Chief Investment Officer, provides a thorough analysis of the markets through 43 detailed charts. He explores vital economic indicators, including employment rates, wage trends, and retail sales. Wealth Advisor Kaeli Creed contributes insightful commentary to enhance the discussion of essential themes to watch as we wrap up the year. View here: https://ow.ly/X1LG50TNVJn

This week, Michael Johnston addresses the increasing popularity of continuation funds. A continuation fund involves transferring stakes from one or more portfolio companies—usually held in an existing venture capital fund—into a new investment vehicle. This new fund serves a dual purpose: it provides additional time and capital for portfolio companies that need an extended runway to achieve milestones like a sale or IPO, while also offering liquidity to the original investors. These investors can either exit by selling their stakes or reinvesting them into the continuation fund, depending on their preferences Read more here: https://ow.ly/GRwb50TJ34c

This week Evergreen's Melissa Hilty, help LLC owners navigate the new Beneficial Ownership Information (BOI) reporting rules under the Corporate Transparency Act. The regulations require certain entities to disclose ownership details to FinCEN. Missing deadlines or providing false information can lead to serious penalties, so it's important to understand these new requirements and ensure compliance. Read more here: https://ow.ly/tZq550TCMoP

This week's newsletter highlights our latest podcast, one of Evergreen Gavekal’s Wealth Advisors Kaeli Kaainoa, CFP?, sits down with Gherman Howell, Senior Analyst, to discuss concentration in U.S. equity markets. Listen now: https://ow.ly/JoqH50TxyrN