Omnia CEO Steven Wagner Discusses Optimism in 2018 in the Wall Street Journal
The Wall Street Journal reported that as 2017 drew to a close, U.S. stocks edged higher as major indexes regained some momentum ahead of the final trading day of the year.
“The stock rally that has sent the S&P 500 up 20% this year went on hiatus in recent sessions.
The S&P 500 has moved narrowly up and down this week, as the number of shares that traded
hands each day was among the lowest full-day volumes of the year,” the Wall Street Journal stated. “Still, analysts and some investors say the pause hasn’t damped their outlook for stocks in 2018, especially when many have boosted their expectations following the passage of Republicans’ sweeping tax overhaul.”
Omnia Family Wealth CEO Steven Wagner commented to the publication about his thoughts on the market environment in the year ahead.
“There’s a tremendous amount of optimism for 2018,” said Wagner. “It’s all going to come down to earnings and what someone’s willing to pay for that stream of income.”
However, the late-cycle optimistic outlook, especially since Republicans passed their tax overhaul, is its own sign that investors should proceed more cautiously, some managers told the Wall Street Journal.
Wagner also balanced his optimism with a healthy dose of caution.
“That always worries me,” Mr. Wagner said despite his upbeat outlook for next year. He added that he will be watching for a pickup in retail investor flows, which could be a sign of an eventual pullback.
Subscribers to the Wall Street Journal can see the full article here.
Important Disclosures: Important Disclosures: Omnia Family Wealth, LLC (“Omnia”), a multi-family office, is a registered investment advisor with the SEC. This commentary is provided for informational purposes only. No portion of any statement included herein is to be construed as a solicitation to the rendering of personalized investment advice through this communication. Consult with an accountant or attorney regarding individual tax or legal advice.