About the Strategist
![leadership image](https://cdn.fundstrat.com/wp-content/uploads/2023/12/Tom-Lee_814pm_.png)
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.
PCE important Fri. Small-caps $IWM just generated a signal only seen 10 times since 1979 and almost always "early cycle" signal with 100% win-ratio 3M, 6M and 12M later (90% 1M).
VIDEO: Small-caps just generated a very important quantitative signal, moving >1% in 11 of the last 12 trading sessions. This has only happened at the start of a major advance for $IWM. (duration: 4:15).
⚡️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](https://cdn.fundstrat.com/wp-content/uploads/2024/07/Tom-Lee-1.png)
Thomas Lee
Head of ResearchThis am, May Core PCE (Fed’s pfd measure of inflation) came in at 0.08% MoM, below Street consensus of 0.15%-0.20% * inflation is falling like a rock * a good thing
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.
June Core PCE +0.18% MoM good enough for markets to raise odds of +50bp (2 cuts) in Sept = good. Supports "summer of small-caps"
The June Core PCE came in at +0.18% MoM. This was slightly higher than consensus but as we highlight below, there are 4 items driving this:
Granny Shots
Explore the market's latent potentials with "Granny Shots". This in-depth report accentuates dominant themes and trends, spotlighting individual stocks set to transcend market expectations.
6
Themes
40
Stocks
- Super Grannies
- Sleeping grannies
- Updated Monthly
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 2Q24 Daily Earnings (EPS) Update – 7/26/24
Click HERE to view the report in PDF format. * 136 companies are reporting this week. * Of the 199 companies that have reported so far (40% of the S&P 500): * Overall, 69% are beating estimates, and those that "beat" are...
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.
Small-caps Rise Amidst Large-Tech Selloff
“Each one of us has a fire in our heart for something. It's our goal in life to find it and keep it lit.” ― Mary Lou Retton, Olympic gymnast and gold medalist
![](https://cdn.fundstrat.com/wp-content/uploads/2023/10/research-logo.png)
![reserach-mark image](https://cdn.fundstrat.com/wp-content/uploads/2024/01/F-Logo-Avatar.png)
Fundstrat Team
Media
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.
July 24, 2024
VIDEO FLASH: The painful selloff Wed highlights that small-cap rotation is underway, we would buy the dip in "summer of small caps"
VIDEO: The selling Wednesday is overdone. And when the dust settles, we are buying the dip. But the more compelling case remains small-caps and we are buying this "summer of small caps" dip.
![Thomas Lee](https://cdn.fundstrat.com/wp-content/uploads/2024/07/Tom-Lee-1.png)
Thomas Lee
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.
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.
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.
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)....
![](https://cdn.fundstrat.com/wp-content/uploads/2023/10/research-logo.png)
![reserach-mark image](https://cdn.fundstrat.com/wp-content/uploads/2024/07/Tom-Lee-1.png)
Thomas Lee
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).
![](https://cdn.fundstrat.com/wp-content/uploads/2023/10/research-logo.png)
![reserach-mark image](https://cdn.fundstrat.com/wp-content/uploads/2024/07/Tom-Lee-1.png)
Thomas Lee
Head of ResearchLatest Publications
June Core PCE +0.18% MoM good enough for markets to raise odds of +50bp (2 cuts) in Sept = good. Supports "summer of small-caps"
The June Core PCE came in at +0.18% MoM. This was slightly higher than consensus but as we highlight below, there are 4 items driving this:
![](https://cdn.fundstrat.com/wp-content/uploads/2023/10/research-logo.png)
![reserach-mark image](https://cdn.fundstrat.com/wp-content/uploads/2024/07/Tom-Lee-1.png)
Thomas Lee
Head of ResearchPCE important Fri. Small-caps $IWM just generated a signal only seen 10 times since 1979 and almost always "early cycle" signal with 100% win-ratio 3M, 6M and 12M later (90% 1M).
VIDEO: Small-caps just generated a very important quantitative signal, moving >1% in 11 of the last 12 trading sessions. This has only happened at the start of a major advance for $IWM. (duration: 4:15).
![](https://cdn.fundstrat.com/wp-content/uploads/2023/10/research-logo.png)
![reserach-mark image](https://cdn.fundstrat.com/wp-content/uploads/2024/07/Tom-Lee-1.png)
Thomas Lee
Head of ResearchTwo key developments this week (so far). First, "technical confirmation" of the small-cap breakout and second, evidence this is funded by rotation out of large-caps.
VIDEO: The "summer of small caps" appears to be triggering a rotation out of large-cap as noted by Mark Newton, Head of Technical Strategy. Also, the collapse of existing home sales is further signal for Fed to make...
![](https://cdn.fundstrat.com/wp-content/uploads/2023/10/research-logo.png)
![reserach-mark image](https://cdn.fundstrat.com/wp-content/uploads/2024/07/Tom-Lee-1.png)
Thomas Lee
Head of ResearchImportant Earnings and macro week ahead. June PCE (Fri) likely to shift higher odds of both July and Sept cut. Supporting "summer of small cap" rally.
VIDEO: President Biden officially announced he is not seeking re-election. While there may not be major market implications, the odds of a Trump White House remain >60% and with June PCE this week, could act as a catalyst...
![](https://cdn.fundstrat.com/wp-content/uploads/2023/10/research-logo.png)
![reserach-mark image](https://cdn.fundstrat.com/wp-content/uploads/2024/07/Tom-Lee-1.png)
Thomas Lee
Head of ResearchBook a Meeting
![contact side image](https://cdn.fundstrat.com/wp-content/uploads/2023/12/Reserach_Book_Meeting.png)
Our dedicated sales team stands by, eager to facilitate a phone meeting. Have your questions answered firsthand and obtain insights directly from the source.