Brian C. Adams

Principal & Founder of Excelsior GP providing high net worth individuals & family offices access to passive cash flowing institutional investment opportunities.

[Brian C. Adams @BrianCAdams]

Lawrence Summers warned that Biden’s stimulus plan was excessive and that it might trigger “inflationary pressures of a kind we have not seen in a generation, with consequences for the value of the dollar and financial stability.”

[Brian C. Adams @BrianCAdams]

7 Questions for 2021: How big is the drag from lockdowns? How quickly will vaccines be rolled out? What does Brexit actually mean? What will a Biden Presidency do? Is the global economy facing fiscal cliffs? Will monetary policy remain a support? Which way will inflation go?

[Brian C. Adams @BrianCAdams]

“Mean reversion bias: The belief that once we put 2020 behind us 2021 would be back to normal.”

— Dan Loeb, founder of Third Point

[Brian C. Adams @BrianCAdams]

“We’re seeing a level of misunderstanding about how markets work that is being brought on by a whole new generation of investors who have never seen a bear market.”

— Jim Chanos, founder of Kynikos Associates

[Brian C. Adams @BrianCAdams]

Four predictions for the future of work from The Atlantic: 1) THE DECLINE OF THE COASTAL SUPERSTAR CITIES; 2) THE RISE OF THE SUPERCOMMUTER; 3. THE RISE OF THE REST; 4. THE NEXT SILICON VALLEY IS NOWHERE

[Brian C. Adams @BrianCAdams]

“People start being interested in something because it’s going up, not because they understand it or anything else.

But the guy next door, who they know is dumber than they are, is getting rich and they aren’t.”

—Warren Buffett, investor and CEO of Berkshire Hathaway

[Brian C. Adams @BrianCAdams]

Peter Lynch: If the professional economists can’t predict economies and professional forecasters can’t predict markets, then what chance does the amateur investor have?

[Brian C. Adams @BrianCAdams]

Boston Properties’ CEO: Business leaders want their employees back in the office to foster culture, collaboration and teamwork. Though employees may be working remotely more in the future, it will be difficult for employers to translate lower census into space savings.

[Brian C. Adams @BrianCAdams]

24 SPAC IPOs priced last week raising $5.4 billion in aggregate, bringing the January 2021 total to 91. 91 SPAC IPOs marks Q1 2021 as the second largest quarter for total SPAC IPOs on record and is on track to be the busiest quarter by the end of March.

[Brian C. Adams @BrianCAdams]

"You know, this one (stock market bubble) has checked off all the boxes from a history book,” said Jeremy Grantham, co-founder of Boston money manager Grantham, Mayo, Van Otterloo & Co., who predicted the market crashes of 2000 and 2008.

[Brian C. Adams @BrianCAdams]

Back in the late 1990s bull market, one value investor gave an unbeatable definition of a bubble: “Something I get fired for not owning”. - The Economist

[Brian C. Adams @BrianCAdams]

ARK's top 10 big ideas for 2021
1. Deep Learning
2. The Re -Invention of the Data Center
3. Virtual Worlds
4. Digital Wallets
5. Bitcoin’s Fundamentals
6. Bitcoin: Preparing For Institutions
7. Electric Vehicles (EVs)
8. Automation
9. Autonomous Ride -Hailing
10. Delivery Drones

[Brian C. Adams @BrianCAdams]

“I don’t think (working from home is) sustainable . . . It will increasingly be a challenge to maintain the culture and collaboration that these large financial institutions seek to have and should have.”- Jes Staley, chief executive of Barclays

[Brian C. Adams @BrianCAdams]

Fears of an asset bubble are gaining ground among investors, a recent Bank of America surveys shows. The coronavirus is still the top fear. But there was the biggest jump among investors that mentioned "asset bubble" as a concern.

[Brian C. Adams @BrianCAdams]

Companies in the small-cap Russell 2000 index with a negative operating profit outperformed the broader index by nearly 50% over the last year, according to an analysis by Reuters.

[Brian C. Adams @BrianCAdams]

In the first two weeks of the new year, a total of 1,000 insiders sold their own stock and 128 bought shares, leaving the sell-to-buy ratio poised for the highest monthly reading in data going back to 1988, according to Washington Service.

[Brian C. Adams @BrianCAdams]

The tech sector has almost $1 trillion worth of firms with negative earnings, which is more than the peak of the 1990s tech bubble. Euphoria is high and tech stocks are expensive on all metrics besides those based on low yields.

[Brian C. Adams @BrianCAdams]

“This spike in margin debt over the past few months is another sign that markets have gone nuts, and everyone is chasing everything, regardless of what it is..."

[Brian C. Adams @BrianCAdams]

While economists debate the relative importance of the factors that perpetuated inflation, there is little debate about its source. The origins of the Great Inflation were policies that allowed for an excessive growth in the supply of money—Federal Reserve policies.

[Brian C. Adams @BrianCAdams]

Seth Klarman of Baupost Group: “The biggest problem with these unprecedented and sustained government and central bank interventions is that risks to capital become masked even as they mount."