Silvercrest Asset Management

In this Silvercrest Market Update, Chairman & CEO Richard Hough and Robert Teeter, Chief Investment Strategist, explore the contradictions defining today's investment landscape—from record earnings beats and expanding profit margins to elevated valuations and massive capex spending—and discuss what it all means for active management.

Oil markets are shifting. The Fed is on hold. And the path forward for equities is anything but certain. Robert Teeter, Silvercrest's Chief Investment Strategist, shares our Q2 2026 outlook for the economy and markets. Full review linked below. silvercrestgroup.com/economic-revie…

In our March 2026 Economic Review, Silvercrest Chief Investment Strategist, Robert Teeter, discusses market leadership among small caps and non-U.S. equities, the private financing backdrop, and an update on AI's impact on the economy. silvercrestgroup.com/economic-revie…

Our February Economic Review is now available. Chief Investment Strategist, Robert Teeter, discusses equities, gold, silver, growth, and more. silvercrestgroup.com/economic-revie…

We are pleased to bring you Silvercrest’s second and final volume of Insights for 2025! TOPICS IN THIS ISSUE: How changes in market structures and index methods have blurred the lines between traditional investment styles and how philosophy and process matter more than labels when assessing managers. The role of valuation in today’s equity markets and why high valuations provide useful information but lack precision. The effect of artificial intelligence on the labor market and how AI is bringing change through a gradual and uneven process instead of causing widespread job loss. The comeback of nuclear energy, how the rising demand for electricity, advancements in technology, and government support are making nuclear a crucial source of reliable, low-carbon power. Happy reading! silvercrestgroup.com/magazines/2025…

Creators of Capital vs. Consumers: Finding Value Overseas. Silvercrest International Value Portfolio Manager, Christopher Richey, and Bernard Paternina, Portfolio Manager, discuss their investment philosophy, global markets and geopolitical risks, and the role of AI in the latest episode of the Silvercrest Podcast.

In our Q4 2025 Economic Review, Robert Teeter, Silvercrest Chief Investment Strategist discusses the durability of the market rally and the “two engines” of rates and earnings; stubborn but easing inflation, labor market steadiness amid slowing job growth and AI-driven productivity; Fed policy shifts and interest rate trajectory; as well as global dynamics surrounding the dollar. silvercrestgroup.com/economic-revie…

Our September 2025 Economic Review is now available. In this letter, our Chief Investment Strategist, Robert Teeter, discusses recession risk, Fed policy, current valuations, and earnings. silvercrestgroup.com/economic-revie…

We are pleased to bring you Silvercrest’s latest volume of Insights Magazine! IN THIS ISSUE: Chip Kelleher, CEPA explores how families can cultivate enduring legacies by moving beyond wealth management to strong internal leadership. Jay Dunn outlines how public market investors can benefit by adopting the mindset of private business owners, emphasizing long-term value creation and disciplined capital allocation. Scott Brown offers insight into the implications of broker transitions for investors, addressing motivations, risks, and the wealth management landscape. Ernest Cruikshank, III discusses tailored fixed income strategies, examining income generation, duration, structure, and tax implications for diverse client needs. Brandon Sim presents a framework for optimizing asset location across taxable, tax-deferred, and trust accounts, focusing on tax efficiency, liquidity, and time horizon. Read Insights here: silvercrestgroup.com/magazines/2025…

Our August 2025 Economic Review is now available. In this letter, our Chief Investment Strategist, Robert Teeter, discusses recession risk, geopolitical stress, earnings, and fixed income. silvercrestgroup.com/economic-revie…

We are pleased to release our Q3 2025 Economic Review. "Welcome to 2025, a compilation of the 1970s, 1980s, and 1990s. It's got all the greatest hits...Noisy geopolitics from the '70s, Expensive but business-friendly policies from the '80s, Massive tech advances from the '90s..." silvercrestgroup.com/economic-revie…

In our latest podcast, Portfolio Managers Scott Brown and Chip Kelleher discuss the importance of leadership in protecting a family legacy. We hope you enjoy the conversation! youtube.com/watch?v=MdCMTB…

Tariffs. Slower growth. Why are earnings holding up? Silvercrest's Chairman & CEO, Richard Hough, and Robert Teeter, our Chief Investment Strategist, unpack the data, the consumer's strength, and why today's challenged economy still supports earnings expansion.

On a company-by-company basis, it is critical to be aware that this is still the early days for AI-assisted efficiency, and that a slower and more challenging economy may be a catalyst for companies to pursue a wide range of productivity initiatives to enhance margins.

In our estimation, the current scenario will reduce growth by just under 1% but will keep the economy in positive territory (just barely). Most companies appear to be taking this in stride, assuming the worst-case scenario is already on the table and an improved scenario is conceivable.

Taking the Economy’s Pulse: The latest key data points are nearly unanimous: Stay cautious, but the sky isn’t falling. Market Update 🧵