Lorem ipsum dolor sit amet, consectetur adipiscing elit
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum
Rick A. Brink, CFA
Richard A. Brink is a Senior Vice President and Market Strategist in the Client Group. Previously, he served as a managing director in the Alternatives and Multi-Asset Group. Prior to that role, Brink was a senior portfolio manager in Fixed Income, and before that an investment director for fixed-income investments within the Global Retail Investments Group. Before joining AB in 2004, he was senior product manager at the Dreyfus Corporation, covering both retail and institutional fixed-income offerings. Brink was previously a senior trainer, dealing primarily with the design and delivery of product training to financial advisors and mutual fund sales representatives. He holds a BS in applied mathematics and economics from Stony Brook University, and is a CFA charterholder.
Eric Winograd
Eric Winograd is a Senior Vice President and Director of Developed Market Economic Research. He joined the firm in 2017. From 2010 to 2016, Winograd was the senior economist at MKP Capital Management, a US-based diversified alternatives manager. From 2008 to 2010, he was the senior macro strategist at HSBC North America. Earlier in his career, Winograd worked at the Federal Reserve Bank of New York and the World Bank. He holds a BA (cum laude) in Asian studies from Dartmouth College and an MA in international studies from the Paul H. Nitze School of Advanced International Studies.
Walt Czaicki, CFA
Walt Czaicki serves as a Senior Vice President and Senior Investment Strategist for Equities at AB. He rejoined the firm in 2015 and has been in the investment-management industry since 1986. Czaicki’s roles have ranged from a fundamental equity research analyst and portfolio manager to chief investment officer. Prior to rejoining AB, he worked on the buy side for a Regions Financial predecessor organization, as well as at Commerce Trust Company and Bank of America. Czaicki holds a BSBA in finance and an MBA, both from Saint Louis University. He is a CFA charterholder.
Scott DiMaggio, CFA
Scott DiMaggio, Senior Vice President, is Co-Head of Fixed Income, Director of Global Fixed Income,Canada Fixed Income and US Multi-Sector Fixed Income strategies, as well as their associated investment strategy, activities and portfolio-management teams. Prior to joining AB’s Fixed Income portfolio-management team, he performed quantitative investment analysis, including asset-liability, asset-allocation, return attribution and risk analysis for the firm.
Daryl Clements
Daryl Clements is one of the portfolio managers responsible for overseeing the firm’s various municipal bond accounts. He joined AB in 2002 as a municipal credit research analyst, responsible for evaluating municipal issuers nationwide, with a particular focus on the transportation, public power and tobacco-backed bonds sectors. In 2006, Clements joined the portfolio-management team and became a member of the Tax-Exempt Fixed Income Investment Policy Group. Prior to joining the firm, he was an associate director for Financial Guaranty Insurance Company (FGIC) for six years, covering various issuers and sectors nationwide. For the five years prior to that, Clements was a research associate for Moody’s Investors Service, assigning ratings for the southwest region of the country and New York. He holds a BS in business, management and finance from Brooklyn College and an MBA in finance from Pace University. In 2008, he co-authored the “How to Analyze Airport Revenue Bonds” chapter in The Handbook of Municipal Bonds.
Approved for One CE Credit
For investors, 2025 will bring not only a new year but new “known unknowns.” Stocks powered to new heights this year, driven by the combined tailwinds of the US economy drawing closer to sticking the landing and artificial intelligence becoming more than just an earnings-call buzzword. But 2024’s successes also opened three “gaps” that must be traversed in transitioning to a post-pandemic economy.
Reserve your spot now for AB’s Capital Markets Outlook Webcast on January 8, when AB’s strategists and investment experts size up these gaps and what they mean for investors as we step forward into 2025.
- The “macro gap” in Fed rate cut expectations. As key variables such as inflation, growth and the labor market have normalized, Fed members have reached diverse conclusions on the best next steps for monetary policy. We’ll discuss what rate path we expect and scenarios that could upend current trends.
- The “fundamental gap” between earnings and multiples. Earnings have started to exit their multiyear stupor, but multiples have forgotten to take a breather. This doesn’t have to mean the party’s over, but it is a reminder that portfolios need more diversification. We’ll assess the market landscape and which areas we think offer the best opportunities.
- The “political gap” between present and future fiscal policies. The Biden administration will give way to the Trump administration in 2025. As we overlay Trump’s platform on current trends, we expect fiscal policy to play a bigger market role over the next four years. We’ll review the policy menu and its potential effects.
Disclaimer Text Here.....