News

In our latest quarterly investment outlook video, Ali Phillips, President and Partner, shares our firm's updated perspective on the economy and markets heading in to the second quarter of 2024. The U.S. economy kicked off 2024 by continuing its defiant march forward through the headwinds of the historic interest-rate-hiking campaign by the Federal Reserve. With conditions holding up sufficiently well under the weight of a 5.25%–5.5% benchmark rate since July 2023, the Fed appears content to take a patient approach to cutting rates as it waits until later this year for further evidence that inflation is firmly heading to its 2%.

The U.S. economy kicked off 2024 by continuing its defiant march forward through the headwinds of the historic interest-rate-hiking campaign by the Federal Reserve. With conditions holding up sufficiently well under the weight of a 5.25%–5.5% benchmark rate since July 2023, the Fed appears content to take a patient approach to cutting rates as it waits until later this year for further evidence that inflation is firmly heading to its 2%. With a soft landing likely coming into focus and markets looking forward to rate cuts and further AI-fueled growth, it is important for investors to remember that nothing is guaranteed, and that keeping a level head is paramount to staying steady during both the good and the bad times.

Obermeyer Wood Investment Counsel, a wealth management firm recognized by Forbes, Barron’s, and CNBC as one of the nation's leading independent advisors, is thrilled to announce the completion of its acquisition of Vail-based Booth Creek Capital and addition of its founder and portfolio manager, Adam Savin. The acquisition solidifies Obermeyer Wood’s commitment to providing top-tier investment solutions to clients and marks a new phase in the firm's strategy.

Ali Flynn Phillips has been promoted to the position of President at Obermeyer Wood Investment Counsel. Ali’s promotion is a considered step to elevate our leadership team and provide clarity to our succession plan. With Ali assuming the role of President, Wally Obermeyer will become Chairman and Chief Investment Officer, dedicating more time to chairing the investment committee and overseeing strategic direction.

In our latest quarterly investment outlook video, Ali Phillips, Executive Vice President and Partner, shares our firm's updated perspective on the economy and markets heading into 2024. Looking ahead, we are monitoring the impact the wars have on the global economy; we are following the political environment at home and assessing the candidates’ policies ahead of the 2024 election; and we are watching company earnings in light of a dynamic and challenging economic environment. We have a balanced perspective, believing that the economy is stable for now and inflation is contained. Yet we know the impact of higher interest rates is still working through various sectors.

As the curtain fell on 2023, investors applauded a positive end to the year for the financial markets. A growing consensus that the Federal Reserve (the Fed) is done raising interest rates and will pivot to cutting rates by mid-2024 fueled a sharp drop in Treasury yields and rekindled investor appetite for equities in the last two months of the year. However, we aren’t ready to pop the champagne just yet. While favorable markets were cause for jubilance, the world is still reeling from the ongoing conflicts in Israel, Gaza, and Ukraine. The humanitarian toll from these events is staggering, and our collective hope is for peace in the world.