META - Auxier Asset Management Winter 2023 Market Commentary

2024-02-16 09:00:00 ET

Summary

• Jeff Auxier founded Auxier Asset Management and the Auxier Focus Fund in 1999. Jeff's philosophy is based on the conviction that compounding is the most influential element of an investment program.
• Auxier Focus Fund’s Investor Class returned 7.19% in the fourth quarter 2023 and 9.75% for the year.
• Looking into 2024, a less restrictive Fed policy has historically been positive for equity markets.

2023 was a year that saw the most aggressive interest rate hikes in decades as short rates reached 22-year highs. Negative headlines were driven by bank failures and geopolitical turmoil from wars in Ukraine and the Middle East. Yet, according to the department of commerce the US GDP grew over 3.3% for the fourth quarter and 3.1% for the year. Record fiscal infrastructure spending, high risk-free savings rates, reshoring of factories, supply chains, and full employment were a few of the positive inputs....

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