It may seem like a slow period in investment banking these days, but that's not really the case according to Michael Price, senior managing director for Evercore Partners.
"CEO confidence is much higher than consumer confidence, and the people we talk to are all about 'how do I fill out my portfolio?' right now," Price said. "There's been three years that I've been watching the market in fear over what the ultimate demand cycle is going to be on cap-ex and the consumer, and now all of a sudden there's stability.
"Remember back to '02 when flat was the new up," he continued. "We may be a little bit back to that time and people are comfortable."
But when will this comfort manifest itself in the return of the deals? Price says he's already seeing the signs that it is.
"Yesterday, Nokia Siemens bought Motorola's wireless networks business, filling out their wireless business in the United States," Price said. "Today, a small telecom company called Intelus rounded out their portfolio in West Virginia. So we're seeing constantly the rounding out of portfolios."
Price says in spite of the phenomenal growth of mobile broadband over the last decade, the real growth is still ahead. In fact, he expects a 40-fold increase in mobile broadband use in the near future. But are companies getting ahead of the curve in providing services and content?
Price seemingly doesn't think so.