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Partner & Chief Equity Strategist
Park Avenue
Client Advisory
Jim is the firm’s Chief Equity Strategist and a Partner in the New York office. He has over twenty-five years of experience managing investment portfolios and is a regular contributor on CNBC.
Prior to joining Cerity Partners, Jim served as the Chief Executive Officer and Chief Investment Officer of Lebenthal Asset Management LLC, where he developed, advised, and served client relationships. Prior to joining Lebenthal Asset Management in 2007, he was a financial advisor for Goldman Sachs and a partner of investment firm Levy Harkins.
James Lebenthal
Economic & Market Update
Despite increased market volatility, the trend in U.S. equity markets remains positive due to continued strength in the economy, a moderating inflation rate and a Fed close to ending its tight monetary policy.
The U.S. economy is performing well in the third quarter with some potential slowdown due to higher rates. Central banks are nearing the end of their tightening cycles, and global equity markets seem fairly valued, with growth dependent on earnings. The main risk is excessive central bank tightening, which could possibly cause a recession. Read more in our September Outlook.
The global economy continues to avoid a near-term recession, as consumer spending remains strong and the effects of monetary tightening have yet to be fully realized. Opportunity can still be found in the bond and equity markets though equity market advances will be dependent upon progress on inflation and clearer signs the Fed is close to the end of its tightening cycle. Read more in our March 2023 Economic & Market Outlook.
Partner & Market Leader
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Partner & Practice Leader
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Partner & Director of Private Direct Investments
Partner & Director of Investment Management
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