PJT CEO Taubman Says M&A Pace Picking Up, 'Can't Get Worse'

The transcript discusses the current state of market activity, noting that levels are at lows not seen in over a decade. It compares current M&A volumes to those during the global financial crisis, suggesting that improvement is inevitable. The procyclical nature of M&A is highlighted, with transaction activity leading to more activity due to competitive pressures and FOMO. The speaker predicts a sharp market inflection by the end of the year, given the nearly ripe conditions.

What is the current state of M&A volumes compared to historical benchmarks?

• Unchanged from last year

• Significantly higher than GDP

• Higher than ever before

• At levels similar to the global financial crisis

What is the speaker's outlook on the market's future?

• It will fluctuate unpredictably

• It will likely worsen

• It will remain the same

• It is expected to improve

What does procyclicality in M&A imply?

• Transaction activity is unpredictable

• Transaction activity remains constant

• Transaction activity leads to more activity

• Transaction activity decreases over time

What drives competitors to engage in more transactions?

• Fear of missing out (FOMO)

• Government regulations

• Market stability

• Decreasing interest rates

What is the expected market trend by the end of the year?

• Stagnation in activity

• A decline in activity

• A sharp inflection in activity

• A gradual decrease in activity