Gregory Sichenzia Quoted in Private Banker International’s “Private Banking and Markets in 2024: What’s the Outlook?”
Press Release – New York, NY – December 26th, 2023 – Gregory Sichenzia, founding partner of Sichenzia Ross Ference Carmel LLP, was quoted today in an informative article by Patrick Brusnahan.
The article, titled “Private banking and markets in 2024: What’s the outlook?”, outlines a clear-cut set path for banking in the new year, and how interest and inflation will affect the projected outcome.
When contacted for an interview, Greg stated the following:
“In 2024, interest rates will continue to dominate headlines, but this time because of their stabilisation and decline, which will create a more active IPO and capital markets climate, as well as a big boost to the overall economy.
The resurgence of the IPO market is clear, as activity typically increases when the cost of capital gets cheaper, which ultimately needs to be deployed. In 2024, I expect Stripe will be the company that opens the markets and the floodgates because all of the private venture capital and banking money that’s gone into it over the past few years. If a deal with Stripe materialises, large caps will lead the way for opening up small caps.
We’ve already seen big companies performing much better. As I write this, stock markets in mid-December are hitting all-time highs. Right now, we see large cap companies (such as Amazon, Tesla and Google) succeed, and that will start to trickle down to smaller companies in the new year. This is due to investors making money in their portfolios off bigger investments, creating more risk capital available. History tells us when people start feeling more secure in bigger investments, the micro and mid-cap markets thrive.
Further, drops in interest rates also mean home buying will pick up again, which makes many bullish about real estate and broader capital markets.
All of this will result in more lending, which will affect the banking industry. People will be borrowing more money again because the cost of capital comes down. If no one is borrowing money, then they’re not making money. As JFK said, a rising tide lifts all boats.
Overall, we can anticipate that all sectors will improve in the new year. With interest rates and a presidential election year, I forecast a robust stock market and IPO market going into 2024.”
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