Astoria Portfolio Advisors
New York, NY 10018
Mobile: +1 (917) 862-1995
Articles by Astoria Portfolio Advisors
CIO Thoughts: 2 Large U.S. Banks Have Gone Under. Where Do We Go From Here?
Click here for original publication There has been enough written about SIVB and what led to the point where the…
John DaviCEO and CIO
Astoria's founder, John Davi, is an award-winning research strategist and has over 20 years of experience spanning across Macro ETF Strategy, Quantitative Research, and Portfolio Construction. Before starting Astoria, he was the head of Morgan Stanley's Institutional ETF Content and advised many of the world's largest hedge funds and asset managers on ETF portfolio construction. John published hundreds of reports in his research career across a variety of topics from ETFs, indices, futures, and structured products.
John began his career in 2000 doing research on ETFs in Merrill Lynch's Global Equity Derivatives Research group. John structured ETF portfolio solutions as early as 2002 for Merrill Lynch's client base where several billion in assets were raised and executed. John's research has been recognized and featured on ETF.com, ETFTrends.com, InsideETFs, Institutional Investor Magazine, and he is a regular contributor to CNBC, Bloomberg, and other media outlets. He was recognized by Bloomberg as an "ETF Master Chef."
Astoria's founder, John Davi, is an award-winning research strategist and has over 20 years of experience spanning across Macro ETF Strategy, Quantitative Research, and Portfolio Construction. Before starting Astoria, he was the head of Morgan Stanley's Institutional ETF Content and advised many of the world's largest hedge funds and asset managers on ETF portfolio construction. John published hundreds of reports in his research career across a variety of topics from ETFs, indices, futures, and structured products.
John began his career in 2000 doing research on ETFs in Merrill Lynch's Global Equity Derivatives Research group. John structured ETF portfolio solutions as early as 2002 for Merrill Lynch's client base where several billion in assets were raised and executed. John's research has been recognized and featured on ETF.com, ETFTrends.com, InsideETFs, Institutional Investor Magazine, and he is a regular contributor to CNBC, Bloomberg, and other media outlets. He was recognized by Bloomberg as an "ETF Master Chef."
David ClarkPresident and Head of Business Development
David Clark is President and Head of Business Development for Astoria Portfolio Advisors LLC. He has more than 25 years of experience in the financial services industry. David spent the first 18 years of his career at Merrill Lynch (subsequently Bank of America), holding various institutional sales management and business development leadership roles in London and New York. David was Head of Merrill’s European Convertible Bond, Equity Derivative, ETF and Delta One sales, and sat on the firm’s European Markets Operating Committee. He also served as Head of B of A’s Americas International Derivative and Swap sales. Additionally, David was Head of Americas Global Delta One, ETF and Stock Loan Distribution and Product, and a member of the North American Equity Sales Operating Committee. He later spent six years at Société Générale, where he was head of U.S. Sales for Global Securities Financing, overseeing distribution of ETF, Swap and Structured Financing products. David graduated from Villanova University with a Bachelor of Arts degree in Economics, and currently sits on the school’s President’s Advisory Council. He lives in Chatham, New Jersey with his wife and three children.
Bruce Lavine,
CFASenior Strategy Advisor
Bruce Lavine is a Senior Strategy Advisor of Astoria Portfolio Advisors LLC. Bruce has a long history in the ETF and asset management business beginning with Barclays Global Investors over 20 years ago. He was one of the earliest employees at iShares and had roles including CFO, Head of Product Development and CEO of iShares Europe. In 2006, Bruce joined WisdomTree as President and Chief Operating Officer. He was there for 10 years as an employee and remains active with WisdomTree today as a member of their Board of Directors. Most recently, Bruce was the CEO of 55 Capital. Bruce has an MBA and BS both from the University of Virginia and he is a Chartered Financial Analyst.
Gregory SandersonDirector of Sales
Gregory Sanderson is Director of Sales for Astoria Portfolio Advisors LLC. He has more than 15 years of experience in the financial industry. Gregory began his career as a specialist clerk on the American Stock Exchange. He has worked for several investment banks including Credit Lyonnais and JP Morgan, always in a trading capacity. Over the course of his career, he has worked with many different financial products including equity, bonds, credit default swaps, and collateralized loan obligations. Gregory is a graduate of Fordham University.
Gregory Sanderson is Director of Sales for Astoria Portfolio Advisors LLC. He has more than 15 years of experience in the financial industry. Gregory began his career as a specialist clerk on the American Stock Exchange. He has worked for several investment banks including Credit Lyonnais and JP Morgan, always in a trading capacity. Over the course of his career, he has worked with many different financial products including equity, bonds, credit default swaps, and collateralized loan obligations. Gregory is a graduate of Fordham University.
Michael Stulic,
CFA, FRM, PRMDirector of Capital Markets
Michael Stulic is the Director of Capital Markets for Astoria Portfolio Advisors. Within this capacity, he oversees all trading execution and front-to-back client account management. Michael brings over 20 years of experience within the financial industry and sell-side banking. His banking experience, largely within bulge bracket firms, consists of JPMorgan, Deutsche Bank, Credit Suisse, and Barclays. Having worked within Credit Derivatives, Emerging Markets, and Correlation trading along with more recent risk management experience within the liquidity, capital, and contingent liability risk stripes, Michael brings a diversified background and unique perspective to the firm.
Michael has achieved several notable designations over his career, consisting of the Chartered Financial Analyst (CFA), Financial Risk Manager (FRM), and Professional Risk Manager (PRM) designations. He is a graduate of Binghamton University with Bachelor of Science degrees in both Economics and Chemistry.
Nick Cerbone,
CFAVice President, Quantitative Strategy
Nick Cerbone serves as a Quantitative Strategist for Astoria Portfolio Advisors LLC. In this capacity, Nick assists in all aspects of portfolio construction and optimization of our cross-asset ETF portfolios. Nick is a Summa Cum Laude graduate of Hofstra University with a Bachelor of Science degree in Mathematical Finance.
Frank Tedesco IIIAnalyst
Frank Tedesco is an Analyst at Astoria Portfolio Advisors LLC. He participates in quantitative research, analysis, and lead generation, assisting both the research and sales facets of Astoria. Frank is a Fordham University alumnus, graduating magna cum laude from the Gabelli School of Business with a BS in finance.
More Articles
Introducing Astoria’s Stock Portfolio Dashboard
Astoria has recently created a new tool that provides further insights into our various stock portfolios, available on our website…
After a Disruptive Year for Markets, Three Things to Remember in 2023
Major Indices Post Worst Year Since 2008 Amid soaring inflation, high interest rates, geopolitical tensions, and recession concerns, equities fell…
Special Report: Astoria’s 10 ETFs for 2023
Click to navigate to original publication The consensus is that a recession is coming, there will be a profits recession,…
Markets Could Rally Through Year-End, but Don’t Overlook Recession Signals
Markets Post Gains in November Amid easing inflation and hopes of reduced interest rate increases, equities were up in November…
What’s the Right Multiple to Pay for Stocks With Rates at These Levels?
Equities Gain in October Amid hopes for a slowing pace of interest rate hikes, equities mainly were up in October…
Q4 Investment Outlook: How Much Downside Is Left?
Click here to read Astoria’s Q4 Investment Outlook The following quote refers to an old Wall Street saying: “The stock…
Green Shoots: 2 Draconian Central Bank Moves and More
This past weekend, we expressed to our followers that one of the tell-tale signs of a market bottom is when…
“The Stock Market Stops Panicking When Central Banks Start to Panic”
There is an old Wall Street saying: “the stock market STOPS panicking when central banks START to panic.” The Fed…
Invest Cautiously for the Months Ahead
What Happened in August? In August, equities struggled, likely due to concerns of further anticipated restrictive monetary policy. For the…
Will We See a V-Shaped Recovery?
There are 3 pertinent portfolio construction topics as we head into the fall: How do we position portfolios for structurally…
The Nasdaq-100 Index Gained 16.4% Since June 16
Equities Rebound in July Despite some turbulent months in the first half of the year, equities posted strong returns in…
If CPI Surprises to the Downside, Expect a Sizable Bounce in the S&P
On June 9th, we distributed a piece (click here) arguing that if CPI surprised to the upside, the S&P would…
Q3 Investment Outlook: It’s time to start nibbling on stocks/credit
Thus far, 2022 has proven to be the antithesis of 2021. Whereas last year was characterized by easy money, peak…
Growth Slowdown Raises Recession Risks
Equities Post Worst First Half Performance Since the 1970s Amid rising recession fears, inflation & interest rate concerns, and slowing…
Never Bet Against the S&P 500
Bearish sentiments and charts have been circulating the media. We thought we would share this table from Invesco that displays…
Did the Fed Just Go All-In?
The Fed would have been ‘all-in’ if they hiked 100bps yesterday, but they settled on 75bps. The Fed is in…
Forget Peak Inflation, CPI Surprises to the Upside
Today’s CPI print delivered worse than expected inflation. We are once again at a 40-year high. And to think the…
If CPI Surprises to the Upside Watch Out S&P
By Nick Cerbone Forward-Looking Views on Upcoming CPI/PPI The market will continue to shift the narrative as to whether or…
Recession Risks are Overblown. Stick with Short-Duration and Inflation Assets
May’s Rebound Despite negative returns in April and market turbulence throughout May, equities finished marginally higher for the month. US…
Astoria Portfolio Advisors Rings the Opening Bell for $PPI
On Tuesday, May 31, 2022, Astoria Portfolio Advisors and AXS Investments rang the opening bell at the New York Stock…
Recession Risks are Overblown. Stick with Short-Duration and Inflation Assets
Astoria’s key message now is this: long duration assets are experiencing a recession while there is a bull market for…
Fed More Hawkish, Investor Sentiment Lows, US Treasury Yield Highs, Increased Volatility
What Happened in April? April was a challenging month for equities as stocks declined. US growth stocks were amongst the…
Q2: A Recession for Long Duration Assets but a Secular Bull Market in Inflation Sensitive Assets
Click here to read Astoria’s Q2 Investment Outlook We’ve had plenty of growth scares over the past decade. This one…
We Are in the Early Stages of this Inflation Cycle
On Friday, April 15th, Astoria’s John Davi appeared on Wharton School of Business’ Behind the Markets podcast. He discussed: Where…
Old-School vs. Inflation-Sensitive Diversification
How Portfolios Should Be Allocating in 2022 Diversification is always smart. However, sticking to the same allocations may not pay…
Rising Rates are a Headwind for US Large-Cap Index Stocks
The S&P 500 Index returned -4.6% during Q1 2022, and the MSCI All Country World Index fell 5.3%. Q1 saw…
CIO Thoughts on the Russian Invasion
First and foremost, our thoughts are with the people of the nation of Ukraine. The below commentary was written on…
Impacts of Russia’s Invasion of Ukraine
On Thursday, February 24th, Russian President Vladimir Putin launched its invasion of Ukraine introducing a new uncertainty to markets. Globally,…
Will CPI remain at 40-year highs?
January 2022 CPI data are scheduled to be released on Thursday, February 10, 2022, at 8:30 A.M. Economists are forecasting a…
Is My Portfolio Positioned for Higher Inflation?
Astoria’s Monthly Commentary Report Fed Ready to Raise? At the FOMC meeting on Wednesday, January 26th, the Federal Reserve kept…
What does yesterday’s FOMC meeting mean for investors?
What does yesterday’s FOMC meeting mean for investors? Risks remained skewed to the downside. We know inflation is a problem.…
What’s an attractive fixed income instrument to play rising rates?
Over the weekend, Barron’s Roundtable released their widely read top stock & fund picks for 2022 (click here). One of…
Are Portfolios Prepared for Higher Inflation?
Wednesday will see the release of CPI, and Thursday will get PPI. As we have argued in the past, we think…
Astoria on CNBC: Inflation, 2022 Market Themes, and China & Disruptive Growth
On Monday, January 3, 2021, Astoria’s John Davi was featured on CNBC as an “ETF expert” along with ETF Trends…
Special Report: Astoria’s 10 ETF Themes for 2022
Investors’ love affair with past winners is insatiable. The ‘conventional wisdom’ on Wall Street is that US Large-Cap index stocks,…
Special Report: Astoria’s Q4 Investment Outlook – You can’t turn the inflation spigots on and off
Click here to read Astoria’s Q4 Investment Outlook Astoria has been quite vocal about using cyclical and inflation sensitive assets…
Cooking with Inflation
Astoria Portfolio Advisors would like to thank Bloomberg Quicktake, Eric Balchunas, and Joel Weber for having us as a guest…
Astoria Portfolio Advisors Surpasses $1B in Total Assets
https://www.prnewswire.com/news-releases/astoria-portfolio-advisors-surpasses-1b-in-total-assets-301393661.html?tc=eml_cleartime NEW YORK, Oct. 6, 2021 /PRNewswire/ — Astoria Portfolio Advisors announced today that its assets under management and advisement…
CIO Thoughts: Which Asset Classes are Cheap?
Based on 2021 or 2022 forward estimates, the following asset classes offer a real attractive opportunity in my eyes. Cyclicals…
ETF Battles
Throughout June and August, Astoria’s CIO, John Davi, was featured as a judge on ETF Battles several times. In each…
CIO Thoughts: 3 Reasons Why The Market is Melting Up
3 Reasons why markets are in a bit of a melt-up phase: Jackson Hole was incrementally dovish on Friday Stark…
Introducing Astoria’s Portfolio Solutions & Tools
Astoria has recently created a new section of our website; this will allow you to download all of our Portfolio…
CIO Thoughts: Have We Reached Peak Sentiment?
Should you be worried about a high CAPE ratio? A recent article in Advisor Perspectives highlighted how high CAPE ratios…
Should you fade cyclicals and inflation sensitive assets?
For some time, our view has been that the economy is accelerating (which bodes well for inflation sensitive assets, cyclicals,…
Special Report: Astoria’s Q2 Investment Committee
Q2 Investment Committee Outlook: Is the early cycle phase over? No, but headwinds are mounting. Begin to allocate to digital…
Inflation vs. Deflation
The chart below was compiled by Bank of America research. It shows the performance of deflationary assets vs. those which…
Avoid HY Credit: Astoria on CNBC
Astoria is fortunate to be a contributor to major media outlets such as CNBC. This week, Astoria’s CIO, John Davi,…
Risk Cuts Both Ways
Part of my job as a CIO for Astoria Portfolio Advisors is to Identify market trends Alert clients of these trends Suggest…
Introducing Astoria’s Large-Cap Value Stock Portfolio
Since July 2020, Astoria has argued that the US economy is in the early stages of a new, powerful economic cycle (click here).…
Don’t Overstay Your Welcome
The yield on the 10-year US Treasury recently touched 1.6%, its highest level since the COVID-19 shutdown. Why are rates…
Investing involves risk including the risk of loss of principal. ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs’ net asset value. Brokerage commissions and ETF expenses will reduce returns.
SPDR® S&P 500® ETF Trust is an exchange traded fund structured as a unit investment trust listed on NYSE Arca, Inc., and seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of the S&P 500® Index.
Standard & Poor’s®, S&P® and SPDR® are registered trademarks of Standard & Poor’s Financial Services LLC, a division of S&P Global ("S&P"); Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones); and these trademarks have been licensed for use by S&P Dow Jones Indices LLC (SPDJI) and sublicensed for certain purposes by State Street Corporation. State Street Corporation’s financial products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and third party licensors and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability in relation thereto, including for any errors, omissions, or interruptions of any index.
Distributor: State Street Global Advisors Funds Distributors, LLC, member FINRA, SIPC, an indirect wholly owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. Certain State Street affiliates provide services and receive fees from the SPDR ETFs. ALPS Distributors, Inc., member FINRA, is distributor for SPDR S&P 500, SPDR S&P MidCap 400 and SPDR Dow Jones Industrial Average, all unit investment trusts. ALPS Portfolio Solutions Distributor, Inc., member FINRA, is distributor for Select Sector SPDRs. ALPS Distributors, Inc. and ALPS Portfolio Solutions Distributor, Inc. are not affiliated with State Street Global Advisors Funds Distributors, LLC.
None of State Street Corporation, State Street Global Advisors, SSGA Funds Management, Inc. or any of their affiliates or subsidiaries (“State Street”) are affiliated with ETF Trends or any ETF Strategist. However, State Street may enter into, and may have entered into, certain marketing arrangements with one or more ETF Strategists, including arrangements relating to SPDR® ETFs. State Street does not endorse any ETF Strategist and disclaims any liability associated with any ETF Strategist.
Before investing, consider the funds' investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-866-787-2257 or visit www.spdrs.com. Read it carefully.
To learn more about being profiled on the ETF Trends ETF Strategist Channel, please email tlydon@ETFtrends.com.