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Outlook 2023 – A Tale of Two Halves

Wednesday, December 14, 2022 11:00 AM EST | 8:00 AM PST | 4:00 PM GMT

As we approach the start of a new year, the negatives abound, from an impending recession, still-rich valuations, ongoing geo-political tensions, EPS deterioration, and the lack of a capitulation spike. However, by the end of 2023, will investors have begun to “look across the valley” toward a morphing of negatives into more market-friendly macros supported by traditional seasonal and cycle strength?

In this webinar CFRA’s distinguished panel of analysts, Ken Leon, Director of Equity Research, was the moderator; Sam Stovall, Chief Investment Strategist; and Vincent Randazzo, CMT, Head of Technical Research, shared their investment outlook for the year ahead.


During this session

  • We discussed whether the traditional 60/40 portfolio performed will bounce back following the worst return in the past 50 years.

  • Which sectors offer the greatest potential in 2023?

  • Examined the technical outlook, incorporating Lowry Research’s historical perspective and its proprietary market Supply/Demand and Breadth indicators that point to longer-term trends.




Ken Leon

Moderator, Director of Equity Research

Ken Leon is the Director of Equity Research at CFRA. He is responsible for analytical research as well as client servicing. As a subject matter expert, his research industries include Diversified Banks and the Housing Market, with coverage of Homebuilding, Home Improvement Retail, Home Furnishings, and Real Estate Investment Trusts (REITs). Ken is a thought leader providing in-depth research and communications to key customer segments. He is active with most media networks and leading print media and is sought for his investment views on the large banks and housing market trends. Ken holds a Bachelor of Science degree and an MBA from New York University. He was also licensed as a Certified Public Accountant in the State of New Jersey.

Sam Stovall, CFP

Chief Investment Strategist

As Chief Investment Strategist, Sam Stovall serves as analyst, publisher, and communicator of CFRA’s outlooks for the economy, market, and sectors. He is the author of The Seven Rules of Wall Street and The S&P Guide to Sector Investing. He also writes weekly “Sector Watch” and “Investment Policy” reports on CFRA’s MarketScope Advisor platform and maintains the Industry Momentum and Seasonal Rotation portfolios. His work is also found in CFRA’s flagship weekly newsletter, The Outlook. 

Vincent Randazzo, CMT

Head of Technical Research

Vincent Randazzo, CMT, is the Head of Technical Research at CFRA and Chief Market Strategist at Lowry Research, a CFRA business. Vincent produces written and recorded stock market research based on Lowry’s proprietary, statistically driven measures of equity market demand/supply and breadth. Prior to joining Lowry in 2016, Vincent held positions with Nasdaq on its Market Intelligence Desk and as an Equity Research Salesperson at Morgan Stanley and UBS. He has written numerous articles for Bloomberg, Tabb Forum, Interactive Brokers, and Nasdaq. Vincent has held the Chartered Market Technician (CMT) designation since 2008.

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