It’s not quite up there with being a weeklong Jeopardy! champion, but in the world of financial advisers it’s pretty close.
Brian McGill, a 34-year-old adviser in Alpharetta, posted the highest score ever in an annual forecasting challenge by Barron's, the financial publication. The 15-year-old contest drew more than 2,500 entries.
McGill, who said it was his first time entering, nailed 12 of 14 multiple choice predictions for 2016. They included the Dow’s overall return including dividends (10.1 to 20 percent); the top-performing sector in the S&P 500 (energy); the price of oil at year-end ($45-$55); and the 30-year T-bond yield at year-end (3.01 to 4 percent).
He correctly predicted 2016’s top performing Dow stock including dividends (Caterpillar) and the worst (Nike). McGill also picked Donald Trump to win the Republican nomination and presidential election, and he predicted GOP control of Congress.
McGill, who works at Redwood Wealth Management, declined to get specific with 2017 predictions. "We're optimistic about the market going forward," he said. "We're politically agnostic, but the pro-business approach of the Trump administration should mean a good environment for U.S. equities."
Investors hope he’s right about that one, too.
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