About the Strategist
Thomas J. Lee, CFA – Co-Founder, Head of Research
Thomas Lee is a Managing Partner and the Head of Research at Fundstrat Global Advisors. He is an accomplished Wall Street strategist with over 25 years of experience in equity research, and has been top ranked by Institutional Investor every year since 1998. Prior to co-founding Fundstrat, he served as J.P. Morgan’s Chief Equity Strategist from 2007 to 2014, and previously as Managing Director at Salomon Smith Barney.
Our Approach
Actionable Investment Ideas
- Tailored recommendations based on macro trends
- Sector-specific actionable insights for optimal portfolio positioning
- Frequent updates ensuring timely decision-making
Global Economic Health
- Periodic assessments of global GDP growth
- Evaluations of leading and lagging economic indicators
- In-depth analysis of global trade patterns
Monetary Policies and Central Banks
- Insights into global central bank actions
- Predictive analysis of interest rate shifts
- Assessment of quantitative easing impacts
Inflation Dynamics
- Comprehensive reviews of inflationary trends
- Insights into core vs. headline inflation
- Evaluations of factors driving inflationary pressures
Interest Rates and Fixed Income Markets
- Analysis of yield curves and their implications
- Predictions on interest rate trajectories
- Insights into global bond markets
Sector Weighting
- Sectoral analysis based on macroeconomic shifts
- Recommendations on sector allocations
- Insights into emerging sector opportunities
Currency Markets
- Deep dives into major and minor currency pairs
- Analysis of geopolitical events affecting currency values
- Predictions on future currency strength and weaknesses
Commodities and Energy
- Examination of oil, gold, and other commodity price movements
- Insights into supply-demand dynamics
- Predictions based on geopolitical and environmental factors
Emerging Markets
- Comprehensive analysis of burgeoning economies
- Evaluations of risks and opportunities in specific regions
- Insights into trade dynamics affecting emerging markets
Demographics and Social Trends
- Analysis of global demographic shifts
- Insights into supply-demand dynamics
- Predictions based on geopolitical and environmental factors
Geopolitical Risks
- Comprehensive assessment of global political events
- Predictions on market reactions to geopolitical tensions
- Analysis of potential economic sanctions and their impacts
Sustainability and Climate Economics
- Examination of oil, gold, and other commodity price movements
- Insights into supply-demand dynamics
- Predictions based on geopolitical and environmental factors
Research and Coverage
Reports
First Word
Delve deep into a holistic market overview with our "First Word" reports. Scrutinize macro indicators, current trends, and sector rotations, and unravel fact-based evidence that points towards prospective market opportunities.
VIDEO FLASH: 6 reasons to expect a rally in Dec, and history shows odds even higher after a 'flat/down' Nov
VIDEO: We discuss how December is shaping up to be a strong month. While stocks have felt shaky due to the November declines and also the selloff in AI stocks, we highlight 6 factors supporting a rally.
⚡️FlashInsights
Dive into real-time market insights with Tom Lee as he navigates through crucial market dynamics and events pivotal to macro strategy. Stay informed, stay ahead.
Thomas Lee, CFA
Head of ResearchToday feels somewhat capitulatory Bottom coming this week.
Thomas Lee, CFA
Head of ResearchThe govt shutdown could end this week * Media reports that Senate could pass a deal this week * this is good news
Intraday Alerts
When the market takes unexpected turns, our "Intraday Alerts" come to your rescue. These short-form reports clarify significant market-moving events, ensuring you're never caught off-guard and always make informed decisions.
INTRADAY ALERT: Thoughts ahead of FOMC rate decision at 2pm ET
At 2:00pm ET today, the FOMC will make its interest rate decision for September and a press conference starting at 2:30pm ET:
Earnings
When earnings season rolls around, we've got you covered. Our comprehensive reports detail earning conditions, earning beats, and stock performance by sector, providing a clear and insightful analysis of the market's response to earnings releases.
Fundstrat 3Q25 Daily Earnings (EPS) Update – 12/01/2025
Click HERE to view the report in PDF format. * 10 companies are reporting this week. * Of the 484 companies that have reported so far (97% of the S&P 500): * Overall, 85% are beating estimates, and those that "beat" are beating...
Weekly Roadmap
End your week with our "Weekly Roadmap", a summary that encapsulates our expert views and closing remarks for the week. This digest is crafted to bring all market happenings and our insights into one coherent context, ensuring you're well-informed and ready for the week ahead.
Stocks Surge Out of "November Chop"
“Learn from yesterday, live for today, look to tomorrow, rest this afternoon.” ― Charles M. Schulz, Charlie Brown's Little Book of Wisdom
Kent Fung
Vice President, Market IntelligenceMedia
Macro Minute Video
Visualize macro strategy insights with "Macro Minute". These concise video briefings furnish clients with a snapshot of present market opportunities and prevailing trends, ensuring you're always one step ahead in the investment game.
December 1, 2025
VIDEO FLASH: 6 reasons to expect a rally in Dec, and history shows odds even higher after a 'flat/down' Nov
VIDEO: We discuss how December is shaping up to be a strong month. While stocks have felt shaky due to the November declines and also the selloff in AI stocks, we highlight 6 factors supporting a rally.
Thomas Lee, CFA
Head of ResearchAnnual Outlook
As we look ahead, our annual outlook serves as a comprehensive guide for our clients, detailing our predictions and strategies for different sectors and indexes in the upcoming year. This outlook is crucial in helping our clients position themselves for future market developments.
Fundstrat Annual Forum: Macro Update with Tom Lee and Tom Block
This session was part of Fundstrat’s 2025 Annual Forum: Defining the Next Decade on Wall Street, a four-part event exploring how investors can capitalize on Wall Street’s greatest transformation in...
Thomas Lee, CFA
Head of Research
L. Thomas Block
Washington Policy Strategist
Market Update Webinar
Stay abreast of market trends and have your queries resolved with our Market Update webinars. These sessions are designed to provide clarity on current market conditions and assist clients in strategizing accordingly.
Special Webinars
Our special webinars are dedicated to unraveling specific market phenomena such as inflation and other vital macro metrics. These sessions provide in-depth insights, aiding clients in navigating through complex market dynamics.
CEO Interviews
Leverage our extensive network as we sit down with prominent CEOs to gain firsthand insights into the landscape of their respective sectors or sub-industries. These interviews are a goldmine of information, offering unique perspectives that can significantly impact investment strategies.
Expert Interviews
In our commitment to provide multi-faceted insights, we conduct interviews with technical experts and other key industry figures, shedding light on nuanced aspects of the market and bringing diverse perspectives to our clients.
Fund Managers Interviews
We delve into the minds of fund managers, exploring their strategies and approaches in navigating the complexities of the current macroeconomic landscape. These interviews offer a glimpse into the world of fund management, providing valuable takeaways for our clients.
Archives
Appearances Media Archives
Our researchers make appearances across a variety of media outlets including podcasts, TV shows, newspapers, and financial magazines. We diligently track and archive these appearances, creating a comprehensive media library that our clients can refer to at their convenience.
Mark Newton: Why Markets Will Still Prove Choppy in December
5 days ago
CNBC Media Archives
We maintain an archive of CNBC appearances by Tom Lee, our Head of Research, highlighting his role as a contributor of note to a premier news platform. Much more than occasional opportunities, these are regular invitations to weigh in on market-moving topics. The habit of seeing Tom on a CNBC screen underscores the degree to which the financial media recognizes his ability to consistently generate market insights – which are also available to our subscribers in greater detail and in multiple formats via our research reports, videos, webinars, and client calls.
Tom Lee: Why a Rocky Start to December Could Lead to a Year-End Rally
15 hours ago
Sample Reports
Probabilities suggest "hot" Feb core CPI above consensus of +0.30%. Jan "hot" CPI drove a 3% sell-off. But with "gas in the tank," this is a buy the dip moment.
VIDEO: February CPI is reported on Tuesday. I think there’s a risk that it’s a hot number, but it’s probably similar to January when you wanted to buy that 3% pullback that follows a hot CPI. (duration: 3:40)....
Thomas Lee, CFA
Head of ResearchJanuary on track for >3% gain, solidifying 2024 to be positive (>92% probability) and suggests our 5,200 target might be low.
VIDEO: Even more important than FOMC or even macro this week is the Wed close. Jan is on track to be positive and it supports our case for 5200 or even much higher (duration: 4:05).
Thomas Lee, CFA
Head of ResearchLatest Publications
VIDEO FLASH: 6 reasons to expect a rally in Dec, and history shows odds even higher after a 'flat/down' Nov
VIDEO: We discuss how December is shaping up to be a strong month. While stocks have felt shaky due to the November declines and also the selloff in AI stocks, we highlight 6 factors supporting a rally.
Thomas Lee, CFA
Head of ResearchVIDEO FLASH: We continue to expect stocks to rally into YE. Equity markets like the potential of a dovish new Fed Chair
VIDEO: Equity markets continued to climb higher, after the grinding selloff since the Oct highs. In our view, the rally into YE remains intact.
Thomas Lee, CFA
Head of ResearchVIDEO FLASH: 5 reasons we still expect a YE S&P 500 rally to 7,000-7,300
VIDEO: We discuss how this selloff of 6% the Oct highs is actually pretty routine. And we list the 5 arguments for why stocks rally into YE. Keep in mind, we expected chop in the first half of...
Thomas Lee, CFA
Head of ResearchVIDEO FLASH: 5 things that likely 'spooked' the market today triggering that ugly reversal
VIDEO: We discuss the 5 possible factors that triggered the disappointing reversal for equity markets. $NVDA posted strong results and equities should have had a strong day. But we still expect markets to soon find their footing.
Thomas Lee, CFA
Head of ResearchBook a Meeting
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