3Q 2019 Market Observation Newsletter

Market commentary can be noisy, and it’s often hard to tell the difference between relevant information and noise. That’s why every quarter our Market Observations newsletter lets you know what articles our experts are using to form ideas and shape opinions. Take a look at what caught our eye this quarter!

Plenty to Worry About, but Not Much to Do

Over the past several decades Byron Wien, the Chairman of Blackstone, has hosted a series of luncheons for some of the world’s biggest investors at the end of each summer. Several major geopolitical events that occurred this summer – including the Fed’s rate cuts, tariffs and trade wars, currency, and the protests in Hong Kong – drove much of the conversation at this year’s lunches. These events lead to significant turmoil in the stock and bond markets. In this commentary, Wien shares what was on the mind of his panel of investors in the midst of a tumultuous summer in the markets. 5 Minute Read

The Slow-Burning Success of Disney’s Bob Iger

In an industry not known for kindness, Disney’s Bob Iger has developed a reputation as being “honorable, decent, smart, successful and a terrific guy.” In this New York Times article, Iger talks with Maureen Dowd about his new memoir and the principles that guide his leadership: optimism, courage, decisiveness and fairness. This philosophy combined with relentless hard work is what led Iger to where he is today. During his watch, Iger has overseen the acquisitions of Pixar, Marvel, Lucasfilm and 21st Century Fox as Disney became the world”s biggest movie studio, as well as substantial growth in the company's parks and television businesses.* 5 minute read 

You Better Love This

“Something stupid you can stick with will probably outperform something smart that you’ll burn out on.” The idea of “doing what you love” may sound like simplistic advice, but in both life and investing there seems to be a direct link between passion and success. Whether you are focused on an investment, a career or an artistic endeavor, there will be rough patches where it feels like your plan is not working. Having the patience and fortitude to endure these periods is often a critical driver of success. This is where passion comes in to play – when you care about and have passion for your subject, you are much less likely to get burned out and throw in the towel at the wrong time. 5 minute read

 

*This is not a recommendation to buy or sell this security. Past performance is not indicative of future results. Some Mesirow  Financial  employees own  the security as of 10/15/2019.