As Chief Investment Strategist at Fifth Third Bank, Jeff Korzenik is responsible for the overall investment strategy of clients. A 28-year industry veteran, he’s a frequent guest on CNBC and Bloomberg television. His writings on economics and public policy have also been published in The Chicago Tribune, The Boston Globe, Forbes, and other periodicals.
Steven Ryan joined Prairie Capital Advisors in 2018. He specializes in helping business owners transition their business to via either an internal transition (ESOP/MBO/ Family) or external (strategic/PE/ Family Office). He has over 25 years of new business and banking experience with clients throughout the country. Steve has led commercial banking teams that interact with business owners and c-level executives of private and public companies. Throughout his career, he has acted as a trusted advisor to many privately-held companies to assist them in growth initiatives, business transitions and liquidity events.
Michael oversees CAP STRAT's investment research and portfolio management processes and leads the development of CAP STRAT's economic and financial market outlook, capital market assumptions, asset allocation analysis, risk tolerance assessments, and investment strategies. He excels at analyzing asset class and investment manager trends and creatively communicating investment performance to clients.
Even if last year seemed brutish at times, we’re definitely feeling more than a glimmer of hope after our last Business as Un”usual” Webinar. Here are some useful takeaway points that you might have missed out on:
Where are markets headed in 2021?
- The Pandemic has been a significant disruptor and has supercharged trends. Some of these impacts could be permanent—that's where the focus should be on many business decisions and investments. Jeff Korzenik shares a glimpse into the future.
- In 2020, financial markets detached from the economy. Our experts estimate a 70% probability this will remain true in 2021, with money supply coming from governments and central banks. Keep an eye out for shifts on these policies. Mike Rarey shares insights on the Base Case, the Bear Case, and the Bull Case in his "Back to the Future." Market Forecast.
Is 2021 a good year to sell - how has the Pandemic impacted valuations?
- Pre-Pandemic EBITDA multiples were at near historic highs. Private equity funds report deal flows were down about 50-60% from 2019. Steve Ryan shares what deal sizes and industries got hit hardest and who faired well in 2020 and what that could mean in 2021. He also walks us through how PPP can affect your share price should you decide to sell.
In 2020 we saw how vulnerable our US supply chain was. Will American businesses retool their approach to global growth?
- Jeff Korzenik exposes data on the myth that technology has replaced manufacturing jobs in the US. More manufacturing jobs have gone abroad than been replaced by tech. However, since it's less economically beneficial to go overseas now, many manufacturing jobs are likely to start returning. We'll need education, upskilling, and the perception of Manufacturing work to change to take advantage of this US employment opportunity.
Pre-pandemic, there was a push toward Reimagining Capitalism. As we move through 2021, will companies continue to prioritize social issues, even at the expense of profits and shareholders?
- Mike Rarey says ESG (Environmental, Social. and Governance) Investing is not just a fad. You are now able to tie your investment portfolios to impact things that link to your values. The push for more socially conscious companies will continue. Millennial consumers and generations after them are more likely to support companies with a social cause. 90% of studies found that companies focussed on environmental, social, and governance issues experienced either a positive or neutral impact.
- Jeff Korzenik shared how we might start to address the talent shortage we face in the next decade with underutilized labor.
- On-trend: Rebalancing Capitalism. Steve Ryan shared how companies can help bridge the wealth gap with Employee Stock Ownership Plans.