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2022 Reflection


Greetings Friends,


Approaching the end to this eventful year's journey, with the holidays upon us, I am reflecting more than usual on how life has changed, what I am thankful for, and my hopes for the new year. No matter how frantic our lives are, to be our best selves, we must slow down periodically to reflect, appreciate, and recenter. The holiday seasons are great opportunities for this. I had a transformative and landmark 2022 in many respects:


My first and second quarter of year have been packed with business meetings, and graduated from Wharton, class of WG22 (Advance Finance) in May 2022 - What a brilliant decision in my life!

I am honored to be part of the Wharton Alumni, member of Wharton Executive Leadership committee, and the community that surrounds me with like-minded every day – Amazing community and friends!


USTBI (US Tall Building Institute) update - I had a chance to meet brilliant people, which lead to thoughtful strategic conversations, and engaging in the depth about setting up a foundation that will take us into the next era for the USTBI. I am thrilled with the work that we’ve been able to accomplish in regard to de-carbonizing Tall Building industry and developing the most appropriate path to the decarbonization of building real estate asset, analyzing financial plus economic impacts of Greenhouse Gas Emissions (GHG)- More to come in 2023!


I’m thankful for the passionate and wonderful friends who supported me every day with such enthusiasm and open hearts. Special thanks to my attorney friends, who supported me with establishment of www.PConstLaw.com (PAN Construction Law), a consulting firm where attorneys could partner for the construction legal and claims services in construction industry.


Economic & Market - We’ve entered into a new world order. I see geopolitical cooperation and globalization evolving into a fragmented world with competing trade blocs. That comes at the cost of economic efficiency. However, I expect to turn more positive on risk assets at some point in 2023 – but we are not there yet. And when we get there, we don’t see the sustained bull markets of the past. The underlying causes of today’s inflation will probably ease off and as supply catches up with demand. However, the ultimate economic damage depends on how far central banks go to get inflation down.


In a few short years, we have all watched innovators reimagine the auto industry. And today, every car manufacturer is racing toward an electric future. The auto industry, however, is merely on the leading edge – every sector will be transformed by new, sustainable technology. I hope our construction, building real estate industry follow the same path. We need more rapid transformative invention in building smart, electrification, prefabrication, green and sustainable design build environment.


Engineers and scientists are working around the clock on how to decarbonize cement, steel, plastics and construction. I believe the decarbonizing of the global economy is going to create the greatest investment opportunity of our lifetime. It will also leave behind the companies that don’t adapt, regardless of what industry they are in. And just as some companies risk being left behind, so do cities and countries that don’t plan for the future. They risk losing jobs, even as other places gain them. The decarbonization of the economy will be accompanied by enormous job creation for those that engage in the necessary long-term planning. I know there are significant regulatory and logistical hurdles to achieving this today, however, I believe this could bring more democracy and more voices to capitalism.


That is why it is more important than ever that we (engineers, architects, contractors, building developers, building owners, investors) be guided by our principal and purpose. If you stay true to your purpose and focus on the long term, while adapting to this new world around us, you will deliver durable results and help realize the power of capitalism.


I want to close by thank you for being such amazing colleague, teammate, classmate. As we celebrate holidays, I feel very lucky to have a friend like you!!

I’m sending my warmest holiday wishes your way. Wishing you a Happy Holiday and a joyful New Year.


Know that if you ever have questions — I’m only an email away.


Warmly,

Peyman A. Nejad




This letter of reflection expresses the views of the author as of the date indicated and such views are subject to change without notice. PAN Partners has no duty or obligation to update the information contained herein. This letter is being made available for informational purposes only and should not be used for any other purpose.


This letter, including the information contained herein, may not be copied, reproduced, republished, or posted in whole or in part, in any form without the prior written consent of author.


© 2022 PAN Partners, L.P.


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