MERISTEM INSIGHTS
Over reasonable timeframes, we believe market returns are driven by the underlying businesses' core fundamentals – the growth rates, margins, and valuations.  These factors are the primary driver of our long-term investment decisions. However, in the shorter term, aspects like liquidity may influence market moves in a host of different ways. This video gives some quick perspective on how recent liquidity, along with the potential for more liquidity in the future, may play a key role in the direction of market trends. We continue to believe that liquidity will find a home, such as consumer goods and financial assets. Exactly where it goes and the volatility it creates is yet to be seen. We’ll be watching closely. 
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https://vimeo.com/520109453/377861c346

Disclosure:
The information and opinions presented in this communication are subject to change without notice, are provided for background purposes only and do not purport to be full or complete. No representation is made concerning actual future performance of investments, markets or the economy. Information obtained from outside sources is considered reliable but is not verified. Before investing, please carefully consider whether an investment is suitable for you. Past performance is not necessarily a guide to future performance and there can be no assurance that an investment’s objective will be met. Please refer to the offering document for further details of the financial commitments and risks involved in connection with investment. 

Performance information presented is not an indication of future results and index data is provided for market reference purposes only. This is not an offer to buy or sell or the solicitation of an offer to buy or sell any security/instrument or to participate in any particular trading strategy. 

This presentation is the property of Meristem, LLC and is intended solely for the use of the Meristem client, individual, or entity to whom it is addressed. This presentation may not be reproduced in any manner or re-distributed by any means without the express consent of Meristem. Mis-transmission is not intended to waive confidentiality or privilege.