Gabelli's column

Some Conclusions From Markets Behaviour in October


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  1. Takeaways from the first few weeks of earnings included FX headwinds, continued supply chain disruptions, still-elevated raw materials costs and fears of a weakening macro backdrop.
  2. Performance in the Merger Arbitrage space in October was driven by the closing of several deals, most notably Elon Musk’s $44 billion acquisition of Twitter.
  3. For the convertibles market, the fourth quarter on a positive note after a very negative year. We had numerous holdings outperform significantly after beating what were admittedly low expectations.