Will corporate earnings continue to rise in 2018?

What are the pros and cons of the recently approved federal budget?

What are the investment implications?

“No one voting for this bill can claim to care about debt and deficits – in fact, it is fiscal malpractice. Congress just ordered everything on menu and then some and sent the bill over to the kids’ table.”

–  Committee for a Responsible Federal Budget (CRFB), a non-partisan, non-profit organization in a recent press release

Consistent with past actions, Congress has once again taken the easy path while leaving others the hard work of addressing our nation’s long-term fiscal problems. The passage of a bipartisan federal budget by the Senate and the House, which followed the massive tax cuts passed in 2017, represents an inflection point for U.S. fiscal policy, and one which has important implications for stock and bond market investors. The current concerns about growing deficits and national debt levels are pushing interest rates higher, yet only somewhat higher than the recent historic lows. At the same time, markets are experiencing greater volatility after an extended period of extremely low volatility. Due to the increase in the federal budget deficit, we are modestly adjusting our expectations for interest rates, inflation rates and market volatility, but we are not changing our positive views on corporate earnings and the companies benefitting from this environment. We remain focused on the secular beneficiaries we have defined previously and would remind our readers that the drivers for these businesses remain firmly in place, notwithstanding these changed fiscal and monetary conditions. Moving forward, investors should expect even greater capital flows to the beneficiaries of this Outlook, particularly leading defense, technology and healthcare companies as well as those benefitting from increases in consumer spending globally.  One important consequence of the changes in our Outlook is that we anticipate that there may be fewer winning companies in 2018.

Chestnut Park appoints luxury executive as COO

Chestnut Park appoints luxury executive as COO

Nicolle Scavuzzo has joined Chestnut Park Real Estate as Chief Operating Officer. Her career has included senior roles in brand  marketing, customer experience and loyalty, CRM technology and training  at Four Seasons Hotels & Resorts, American Express, and...

“Peerage is the epitome of entrepreneurial spirit and has consistently supported and encouraged Baker’s tradition of thinking outside the box. This has resulted in Baker taking bold steps in technology innovation, increasing sales and tremendous growth in revenue.”

Barbara Lawlor,
CEO and President,
Baker Real Estate Incorporated, Brokerage

“Peerage Capital has had a dramatic influence on cultivating an entrepreneurial spirit and focus at Chestnut Park. There is a pervasive encouragement to grow, but on our terms and time lines. Success is recognized and rewarded. Help is available if needed. Peerage proveds the perfect combination of independence and security.”

Chris Kapches,
LLB, President and CEO, Broker of Record,
Chestnut Park Real Estate Limited, Brokerage

“We were looking for a like-minded group to partner with to assist with our continued success. We found that in Peerage Realty Partners. We remain independent and retain our identity while being able to take advantage of the benefits of being part of the Peerage Realty Partners group.”

Catherine Deluce,
Founder and Chair,
Chestnut Park Real Estate Limited, Brokerage

“From the inception of our partnership, Peerage made it clear by both their words and actions that while they would always be available to discuss business strategies or financial assistance, they trusted us to manage our company competently, ethically and efficiently. They are partners in every sense of the word.”

Michael Schaenen,
Senior Partner,
ARS Investment Partners,

“Peerage provided us with all the resources and support to allow us to grow at lightning speed and with precision. Partnering with Peerage Capital has made us a force to be reckoned with in the real estate industry.”

Mary Johnson,
Vice President,
StreetCity Realty Inc., Brokerage

“Peerage Capital provides ARS Investment Partners with the right balance of operating autonomy and strategic support. Peerage recognizes and respects the expertise and judgment of the ARS management team, and allow us to do what we do best.”

Stephen Burke,
Managing Partner,
ARS Investment Partners

“Through our partnership with Peerage we are able to retain our independence while benefitting from the support of their seasoned senior management team and having access to Peerage’s valuable network.”

Rob Furse,
Echelon Wealth Partners


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