Matthew D. Palazzolo, CFA

Matthew D. Palazzolo, CFA

Senior Portfolio Manager; National Managing Director

8 Years at AB
19 Years of experience

Matthew D. Palazzolo is a Senior Portfolio Manager based in Bernstein’s New York office. He was named a National Managing Director in 2017. In addition to his role as Senior Portfolio Manager, he is also responsible for Bernstein’s market and investment-related communication and is a member of Bernstein’s Private Client Investment Policy Group, which provides asset allocation, investment and risk-management advice for high-net-worth clients, endowments and foundations. Prior to joining the firm in 2010, Matt was with Inverness Counsel, where he served as director of research, portfolio manager and a member of the investment committee. His responsibilities included overseeing equity research and assisting in managing portfolios on behalf of the firm’s high-net-worth clients and institutional investors. Previously, he was part of a team that conducted equity research at Prudential Equity Group, where he focused on the household and personal care sector across all market capitalizations. As part of the team, he interacted with corporate management of companies; helped develop recommendations on those companies’ stocks; and communicated those recommendations to the firm’s institutional long-only and hedge fund clients. Matt earned a BA in English and sociology/anthropology from Colgate University and an MBA in corporate finance from the Kenan-Flagler Business School at the University of North Carolina, Chapel Hill. He is a Chartered Financial Analyst charterholder. Matt is a member of the CFA Institute and the CFA Society New York.

Is October a Canary in the Coal Mine?
Our Most Interesting Chart Right Now: Recent Volatility Is Largely Contained to the Stock Market
Our Most Interesting Chart Right Now: Turkey’s Crisis Heatmap

Our Most Interesting Chart Right Now: Turkey’s Crisis Heatmap

by Matthew D. Palazzolo
The challenges in Turkey—a high current account deficit, large external debt load, and geopolitical uncertainty—have weighed on the country’s financial markets in recent weeks. They have also raised alarm bells about the potential for similar headwinds in other emerging markets (EM). A chart similar to the one above has been making the rounds on Wall Street of late, so we decided to create our own version. Our conclusion: Turkey’s and Argentina’s problems are largely unique to them, and broad contagion is unlikely.

Wealth Planning


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Answers to the Top Five Questions on Your Mind
Checking in on Our 2018 Surprises

Checking in on Our 2018 Surprises

by Matthew D. Palazzolo
Identifying market surprises is an important element of our investment process. The goal is always to understand not only what the market believes, but also where an outcome could be counter to that belief and how the market may react. At the beginning of this year, we discussed 2018 SURPRISES WE WOULDN’T BE SURPRISED BY. Now that we have half of the year behind us, we lay out the five surprises we identified and where they stand today.

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Anatomy of Returns

Anatomy of Returns

by Matthew D. Palazzolo
After one of the calmest equity markets on record, volatility spiked in early February and has increased periodically since. Now there seem to be concerns coming from many different angles affecting the markets, so how do investors know what will ultimately drive returns? The answer is simple and rooted in fundamentals: earnings and valuations.

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Risk Finally Returns

Risk Finally Returns

by Matthew D. Palazzolo
After an unusually long period of steady positive performance and no dips of even 5%, volatility came roaring to life in early February. The speed and magnitude of this awakening caught investors unawares and ignited a fear that prolonged market losses were on the horizon. Selling took hold. Now, investors are left wondering what’s in store for the near term.

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The Aftereffects of Tax Cuts on Munis

The Aftereffects of Tax Cuts on Munis

by Matthew D. Palazzolo
The municipal bond market was a bit schizophrenic as the debate over the tax bill reached the final stages late last year. While several proposals could have considerably changed the market, the most negative, fortunately, were not enacted. But those that were could alter the muni market. How will they impact muni returns in the years ahead?

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2018 Surprises We Wouldn’t Be Surprised By

2018 Surprises We Wouldn’t Be Surprised By

by Matthew D. Palazzolo
2017 marked a healthy year for equity markets while fixed income showed resiliency in the face of Fed tightening. This year, Wall Street forecasts a similar environment, with more modest market returns. In general, we agree with this sanguine forecast, but we are also conscious that unexpected events often surprise the markets. Below we discuss five surprises that are not in consensus thinking, nor are they necessarily our base case assumptions. But if they do occur, will the market be surprised and how will investors react?

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Peak After Peak: Do Stock Market Highs Really Matter?
Musical Chairs at the Fed

Musical Chairs at the Fed

by Matthew D. Palazzolo
With a new Chairman, a retiring Vice Chairman, and at least three open seats on the Board of Governors, the Federal Reserve is in a period of transition. Clearly, this is an uncertain time for the financial body that governs US monetary policy and regulates the banking system. These changes at the Fed, which is designated as the voice of reason and stability for the US financial system, inject a degree of ambiguity. But should investors worry?

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Why Hasn’t Geopolitics Roiled the Markets?
Checking in on the “Surprises” We Anticipated

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