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1. 2023 dealmaking is all about tough realizations.
When will dealmaking ramp up again?
It is Wall Street's million, or perhaps billion, dollar question.
Everyone seems to agree that the M&A drought can't last forever. And while many of the people saying as much (i.e. bankers) clearly have a vested interested in more deals occurring, that doesn't mean they're wrong.
Markets typically act in cycles. In the same way that what goes up must come down, things that go down must eventually come up.
These types of conversations are ones that bankers always need to navigate — helping clients get the best possible price for their company while also reeling in their expectations — but this year's conversations will be particularly difficult.
And while it's true sellers could always try and wait out the market, there's no gurantee of when things can get better. When you're staring down the barrel of mountains of debts and diminishing revenues, that can make any amount of time spent waiting seem unbearable.
So do you hold off, and risk not having the market rebound in time for you? Or do you pull the trigger on a deal you don't love?
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I'm not sure there is a right answer in any of these situations.
But one thing I am sure of: There are plenty of bankers willing to help you with the process... for a fee, of course.
2. A whole new world (for BlackRock's Aladdin). The investment manager's widely used risk and portfolio-management tool was one of the lone bright spots for BlackRock in 2022. But can it keep the good vibes going in 2023?
3. Booze that will give you something other than a hangover. Fintech Vint helps users invest in high-end wines and spirits even if they don't have a boatload of cash. How some Rioja can lead to returns.
9. Inside the turmoil at Cheddar News. The upstart media company was pitched as a CNBC for a younger audience. But new ownership and a revamped social-media strategy has put the startup in flux and led to significant departures. More on what has the newsroom divided.
10. No more Noma. The Copenhagen restaurant, which has consistently been named one of the top restaurants in the world for its unique take on fine dining, is closing its doors at the end of 2024, The New York Times reports.
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