4Q23 Review and Outlook – Moving Beyond Inflation: narrow winners drove a strong market in 2023 but can the economy deliver?

We expect the best opportunities of 2024 to be outside of the largest U.S. companies. This could bode well for active management as it would mean more securities that outperform passive indices rather than less. We are well positioned…

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3Q23 Review and Outlook: Narrow Market Leadership, “Higher for Longer” Interest Rates, and a Potential New Wave of Inflation

3Q23 Review and Outlook: Narrow Market Leadership, “Higher for Longer” Interest Rates, and a Potential New Wave of Inflation

The majority of the returns of the S&P year-to-date can be attributed to just 7 companies. The tailwind that government stimulus provided to the economy is likely over given current deficits and the high...