About the Exhibitors

CFRA Research is one of the world's largest independent investment research, analytic and data providers.

Their proprietary methodology engine blends forensic and fundamental equity, ETF and mutual fund research, along with data and analytics to empower investment professionals, advisors and risk managers with actionable insights for improved investment and business decision-making.

Founded in 1994, CFRA Research has offices located throughout the United States, London and Kuala Lumpur. Recently, CFRA has expanded its research offerings through the acquisition of ETF data provider First Bridge (2019), technical research firm Lowry Research (2021), and public policy research firm Washington Analysis (2021). CFRA clients can now benefit from comprehensive insights spanning technical and public policy research, forensic accounting, fundamental equity, ETF and mutual fund research, and ETF Data to inform investment and business decision-making.

To learn more about CFRA’s research and insights visit cfraresearch.com.

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Exhibitor Schedule
Thursday, May 22, 2025, 9:30 am - 10:05 am EDT
Recovery or Recession?
Sam Stovall |CFRA Research

Investors continue to face stiff headwinds in 2025. Bull markets since WWII that went on to celebrate their third birthday posted gains averaging only 5%. The average drawdown for Republican presidents in their inaugural year was more than 15%. Nearly two-thirds of all bear markets since WWII started with double-digit declines that recovered to within -2% and +3.4% of the 200D MA before reversing and setting an even lower low. Are tariffs still headline rhetoric or recession-inducing realities? S&P 500 EPS growth for all of 2025 was pegged at nearly 13% at the start of the year. As of mid-May, that forecast was closer to 7%. Finally, 2024 was the sixth year in the past eight years when the tech sector rose by 30% or more in price. In this presentation, Sam Stovall, Chief Investment Strategist at CFRA Research, will discuss CFRA’s forecast for a full-year gain in price for the S&P 500 and show cautious investors how a portfolio consisting of only two sectors delivered 95% of Tech’s return since 1990 with 40% lower volatility.

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