New Year's Resolutions From WealthTrack

Submitted for your consideration: financial New Year's resolutions courtesy of this week's edition of WealthTrack with Consuelo Mack, including yet another forecast for 2024, this time courtesy of her guest Ed Hyman of Evercore.  Happy New Year!  

December 29, 2023 Dear WEALTHTRACK Subscriber,  Four recent WEALTHTRACK guests, each a leading professional in their respective specialties - Evercore ISI’s Ed Hyman, Seafarer Capital’s Andrew Foster, and T. Rowe Price’s Sébastien Page and David Giroux - share their 2024 New Year’s Resolutions exclusively with us on wealthtrack.com.  As it turns out, much of their focus is personal. For this weekend’s WEALTHTRACK, the last episode of 2023, we thought it fitting to repeat our rare interview with Ed Hyman, Wall Street’s long-reigning #1 economist and hear his forecast and “high conviction” calls for 2024. As regular WEALTHTRACK viewers know, Hyman has been voted Wall Street’s number one economist for an unrivaled 43 years by Institutional Investor. He is the Founder and Chairman of Evercore ISI and leads its economic research team, which publishes daily reports that are considered to be must-reads by institutional investors.   A year ago Hyman and his team were tracking the impact of the Federal Reserve’s aggressive and rapid tightening policies. The key federal funds rate which had started 2022 near zero had jumped to four and a half percent by year-end. It is now at five and a half percent.    Hyman made two predictions on WEALTHTRACK at the end of 2022. His “high conviction” and most contrarian one back then was that inflation was slowing significantly. His second “pretty high conviction” call was that the economy was slowing. As for the market for 2023, Hyman didn’t have a high conviction call, but Evercore ISI’s technical analyst, Rich Ross did. Hyman said Ross was “flat out bullish” and that he was “going along for the ride.” What a ride it was. The Dow crossed 37000 for the first time, the S&P gained 24% and the Nasdaq soared 43%!  In this weekend’s episode, Hyman shares his forecast and high-conviction calls for 2024. As we embark upon a brand new year, we hope 2024 will prove to be a wonderful one for you, your loved ones, friends and colleagues. As always make it a healthy, profitable and productive one! Best regards, Consuelo Facebook WEALTHTRACK Site YouTube Channel As always, if you miss this week’s program, it will be available on our website. For those of you active on Facebook: You can connect with us on our Consuelo Mack  WEALTHTRACK  page.