Joe Fahmy (@jfahmy), a portfolio manager at Zor Capital, LLC, a New York-based investment management firm, joins Julia La Roche on episode 47 to share his 2023 market outlook.
In this episode, Joe shares his 2023 outlook and why he thinks the biotech sector is poised to outperform the S&P. He also reflects back on lessons gleaned from the challenging environment in 2022.
Joe explains why having a big-picture macro view is important, but there’s no need to obsess over it. He also shares why “don’t fight the Fed” has resonated with this trading and investment style in recent years and how folks should think about what that phrase really means.
Joe has nearly 25 years of trading experience, during which he developed his investment strategy. His extensive knowledge of technical analysis, market forecasting, and risk management has landed him appearances on Wall Street Week, CNBC, Fox Business, ABC News, and CNN Money. He is a regular contributor to Yahoo Finance.
0:00 2023 market outlook
1:00 Don’t fight the Fed
1:34 Don’t fight the Fed works both ways
2:15 A new uptrend in the market this year?
2:40 What the phrase “don’t fight the Fed” really means
3:30 Understanding the big picture
4:20 Does the macro matter more than ever?
5:30 Important not to be obsessive over macro
6:29 Opportunities in 2023
7:55 Why biotech could outperform the S&P
9:53 Energy thesis
11:13 A return stock picking?
14:00 Where are we headed in the markets?
16:00 The big institutions control the markets. Period.
17:45 How to watch what the biggest players are doing in the market
19:33 A shift in the sentiment?
22:00 Lessons from 2022
25:44 Book recommendations for trading
28:52 What’s Joe watching in 2023?
31:23 When will we see the pause?
32:14 How much does the economic picture matter?
35:00 Parting thoughts
The Julia La Roche Show