The “January effect,” according to market lore, is the tendency of stocks to rise in the year’s first month. So far, so good: The S&P 500 is up 6% year to date and the Nasdaq Composite has gained more than 10%, a welcome reversal from last year’s losses.
At Barron’s, there is also a January effect, of sorts—a substantial uptick in the number of words devoted to stock picks and market prognostications, courtesy of our annual Roundtable. Each year in early January, in a tradition dating back 55 years, Barron’s has grilled a group of seasoned and savvy investors about the outlook for the year ahead and their favorite investments. The 2023 Roundtable took place Jan. 9 in New York, and this week we present the third and final edited installment from that provocative and enlightening session.