Be Ready for Bigger Stock Gains in 2023: Carson's Detrick

Ryan Detrick, Carson Group chief market strategist, suggested recently that market conditions in January appear to bode well for stocks this year.

Detrick, who joined Carson Group in 2022 after several years with LPL Financial, recently took time to share with ThinkAdvisor his short- and long-term views on the financial markets, economy and investing, and a glimpse into his job analyzing the financial world.

Carson works with more than 130 partner firms and over 380 financial advisors, providing a variety of services.

Here’s a lightly edited version of Detrick’s email Q&A with ThinkAdvisor:

THINKADVISOR: What is your stock outlook for the year? Specifically, where do you think stocks will end the year?

RYAN DETRICK: The economy will avoid a recession and stocks will gain between 12% to 15% in 2023.

What has been your best prediction in the past year or so?

Sticking with value over growth. Yes, the “stock market” has been lower, but value has done significantly better than growth. Additionally, we said October was the lows of the bear market, and we are seeing more and more signs that is likely happening. Virtually everyone expected new lows to take place, so that was a lonely call.

What has been your worst?

We didn’t think bonds would have a good year, but we didn’t see their worst year in history. The combo of higher inflation, the war and a super hawkish Fed all added up to massively higher rates and a horrible market for bonds.