If 2022’s stock market could be described as brutal, 2023’s might best be described as befuddling. Thankfully, there is a portfolio for that.
What’s so befuddling? It’s not just that there is uncertainty around inflation, growth, profits, margins, and even Covid, which continues to linger around the globe. It’s also that there’s no uncertainty about how experts view the market. All the talking heads believe the first half of 2023 will be bumpy, with things looking better by year end. “It’s a real uber-consensus,” says Lori Calvasina, head of U.S. equity strategy at RBC, who counts herself among the talking heads.