Global Positioning Systems
Recalculating in light of detours, bumps, and blind spots.
Welcome to Our 2018 Capital Markets Forecast
W
inston Churchill once referred to Russia as “a riddle wrapped in a mystery inside an enigma.” It’s a description that is equally apt for the situation we find ourselves in today. Signs point to the U.S. economy being in a late (or pre-recession) stage, yet stock market valuations are elevated and inflation is inexplicably soft. Our investment team shares its outlook for the U.S. and global economies and—in light of stretched valuations, low bond yields, and expected higher volatility—where qualified investors can look for investment opportunities.



Listen to the replay of the January 30 Capital Markets Forecast Webinar
This webinar is for general financial, investment, and retirement information purposes only and is not an offer for the sale of, or solicitation or recommendation of, any financial product or service. The material and information presented at the webinar is for informational purposes only and does not constitute legal or other professional advice. As such, this information should not be used as a substitute for consultation with professional data security, legal or other advisers. Neither M&T Securities, nor any of its affiliates, offers legal or tax advice and, accordingly, nothing presented herein or during the webinar should be deemed or construed to be legal or tax advice.
Don DiCarlo and Tony Roth Discuss the Forecast
December 4, 2017 | 8:49
Learn more about Don DiCarlo and Tony Roth


Don DiCarlo is a member of the senior leadership team for Wilmington Trust Wealth Advisory overseeing all personal fiduciary and wealth planning services.

Prior to joining Wilmington Trust in 2008, he was the director of Estate Planning and Senior Fiduciary Counsel for the Vanguard Group in Malvern, Pa. His past experience also includes the private practice of law, and active duty service as a judge advocate in the U.S. Army.

DiCarlo earned his undergraduate degree from Villanova University, and his law degree from New England Law in Boston. He also holds a Master of Laws in taxation from Temple University Law School, and a master’s degree in moral theology (Christian ethics) from St. Charles Borromeo Seminary in Wynnewood, Pa.

He is an adjunct professor of law at both Villanova and Temple University Schools of Law, and a frequent lecturer for the American Law Institute and other professional associations. DiCarlo has been published in leading trade journals, and his remarks have been quoted by major media outlets such as CNBC, Wall Street Journal, Barron’s, and Time Magazine.

DiCarlo currently serves on the board of trustees of the Philadelphia Estate Planning Council, and has served on the executive board of the Probate and Trust Law Section of the Philadelphia Bar Association. He is an ordained deacon in the Archdiocese of Philadelphia.

Tony Roth is Chief Investment Officer for Wilmington Trust Investment Advisors. As head of its Investment Committee, he plays a key role in developing and delivering investment services to wealth, institutional, and brokerage clients. He also provides strategic direction for the firm's asset management investment activities, including asset allocation, manager research, and portfolio construction.

Prior to joining Wilmington Trust in 2014, Tony was Chief Investment Officer for Aquitaine Management and UBS Wealth Management Americas, respectively. Earlier in his career, he was founder and co-head of the Advisory Services Division at Bear, Stearns & Co. Inc., served as director of the Family Wealth Group at Sanford C. Bernstein & Co., and was a tax attorney at Cleary Gottlieb in New York.

Tony earned his law degree from Harvard Law School. He holds a master's degree in French and International Tax Law from Université Panthéon Sorbonne, and graduated magna cum laude from Brown University with a degree in Philosophy.

OUR PUBLICATIONS
WILMINGTON TRUST LOOKS FORWARD
Capital Markets
Forecast 2018
Capital Markets
Forecast 2016-2026

Join Our Capital
Markets Forecast
Roadshow
We are excited to bring you the roadshow and share aspects of the current forecast. Please contact your Relationship Manager to learn more.
 
FEBRUARY
FLORIDA
North Palm Beach - February 15

NEW JERSEY
Southern NJ - February 13

NEW YORK
New York - February 1

 
Long Island - February 1

 
Westchester/Tarrytown - February 2

PENNSYLVANIA
Lehigh - February 8

 
Wilkes- Barre - February 23

 
Carlisle - February 27

WASHINGTON, D.C.
Tysons Corner – February 7



Related Insights

Quarterly Call
Listen to the replay of the quarterly client call to hear our experts share their insights on markets, the economy and tax reform.

For more on the tax law’s potential wealth planning implications, we recommend the following articles:

Make the Most of Tax Reform
Issues & Insights: Tax reform made simple?
2017 Tax Cuts and Jobs Act


Wilmington Wire
Real-time blog postings on the latest financial happenings and the investment news of the day.
Read more  
Capital Perspectives
Monthly investment analysis and insight from Wilmington Trust Investment Advisors.
Read more  






In the news

CNBC
Chief Investment Officer: Watch for a rotation out of U.S. stocks next year

Visit website
Bloomberg
Stocks reach record highs as U.S. tax vote looms: markets wrap

Visit website
MarketWatch
Stocks close at records in broad tax-driven rally; Dow posts 70th record close of 2017

Visit website


Morningstar
Bank rally leads stocks to records on tax-plan optimism

Visit website

Fox Business News
Stock market hits records on tax-cut optimism; Nasdaq tops 7,000 for first time

Visit website

Washington Post
Finance 202: The GOP tax plan's lopsided numbers

Visit website




Listen to the replay of the January 30 Capital Markets Forecast Webinar
This webinar is for general financial, investment, and retirement information purposes only and is not an offer for the sale of, or solicitation or recommendation of, any financial product or service. The material and information presented at the webinar is for informational purposes only and does not constitute legal or other professional advice. As such, this information should not be used as a substitute for consultation with professional data security, legal or other advisers. Neither M&T Securities, nor any of its affiliates, offers legal or tax advice and, accordingly, nothing presented herein or during the webinar should be deemed or construed to be legal or tax advice.
Don DiCarlo and Tony Roth Discuss the Forecast
December 4, 2017 | 8:49
Learn more about Don DiCarlo and Tony Roth


Don DiCarlo is a member of the senior leadership team for Wilmington Trust Wealth Advisory overseeing all personal fiduciary and wealth planning services.

Prior to joining Wilmington Trust in 2008, he was the director of Estate Planning and Senior Fiduciary Counsel for the Vanguard Group in Malvern, Pa. His past experience also includes the private practice of law, and active duty service as a judge advocate in the U.S. Army.

DiCarlo earned his undergraduate degree from Villanova University, and his law degree from New England Law in Boston. He also holds a Master of Laws in taxation from Temple University Law School, and a master’s degree in moral theology (Christian ethics) from St. Charles Borromeo Seminary in Wynnewood, Pa.

He is an adjunct professor of law at both Villanova and Temple University Schools of Law, and a frequent lecturer for the American Law Institute and other professional associations. DiCarlo has been published in leading trade journals, and his remarks have been quoted by major media outlets such as CNBC, Wall Street Journal, Barron’s, and Time Magazine.

DiCarlo currently serves on the board of trustees of the Philadelphia Estate Planning Council, and has served on the executive board of the Probate and Trust Law Section of the Philadelphia Bar Association. He is an ordained deacon in the Archdiocese of Philadelphia.

Tony Roth is Chief Investment Officer for Wilmington Trust Investment Advisors. As head of its Investment Committee, he plays a key role in developing and delivering investment services to wealth, institutional, and brokerage clients. He also provides strategic direction for the firm's asset management investment activities, including asset allocation, manager research, and portfolio construction.

Prior to joining Wilmington Trust in 2014, Tony was Chief Investment Officer for Aquitaine Management and UBS Wealth Management Americas, respectively. Earlier in his career, he was founder and co-head of the Advisory Services Division at Bear, Stearns & Co. Inc., served as director of the Family Wealth Group at Sanford C. Bernstein & Co., and was a tax attorney at Cleary Gottlieb in New York.

Tony earned his law degree from Harvard Law School. He holds a master's degree in French and International Tax Law from Université Panthéon Sorbonne, and graduated magna cum laude from Brown University with a degree in Philosophy.

OUR PUBLICATIONS
WILMINGTON TRUST LOOKS FORWARD

Capital Markets
Forecast 2018


Capital Markets
Forecast 2016-2026

Join Our Capital
Markets Forecast
Roadshow
We are excited to bring you the roadshow and share aspects of the current forecast. Please contact your Relationship Manager to learn more.


FEBRUARY
FLORIDA
North Palm Beach - February 15

NEW JERSEY
Southern NJ - February 13

NEW YORK
New York - February 1

 
Long Island - February 1

 
Westchester/Tarrytown - February 2

PENNSYLVANIA
Lehigh - February 8

 
Wilkes- Barre - February 23

 
Carlisle - February 27

WASHINGTON, D.C.
Tysons Corner - February 7



Related Insights

Quarterly Call
Listen to the replay of the quarterly client call to hear our experts share their insights on markets, the economy and tax reform.

For more on the tax law’s potential wealth planning implications, we recommend the following articles:

Make the Most of Tax Reform
Issues & Insights: Tax reform made simple?
2017 Tax Cuts and Jobs Act




Wilmington Wire
Real-time blog postings on the latest financial happenings and the investment news of the day.
Read more  


Capital Perspectives
Monthly investment analysis and insight from Wilmington Trust Investment Advisors.
Read more  






In the news

CNBC
Chief Investment Officer: Watch for a rotation out of U.S. stocks next year

Visit website
Bloomberg
Stocks reach record highs as U.S. tax vote looms: markets wrap

Visit website
MarketWatch
Stocks close at records in broad tax-driven rally; Dow posts 70th record close of 2017

Visit website
Morningstar
Bank rally leads stocks to records on tax-plan optimism

Visit website

Fox Business News
Stock market hits records on tax-cut optimism; Nasdaq tops 7,000 for first time

Visit website

Washington Post
Finance 202: The GOP tax plan's lopsided numbers

Visit website








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Stay on top of today’s latest issues by signing up to receive insights designed to help you succeed.



Editor's Spotlight
A quarterly roundup of our top wealth management, investing, and planning articles.
Issues and Insights
The most up-to-date assessment of planning issues and trends, delivered periodically throughout the year.
Investment and economic publications
Analysis from our asset management team, including Capital Perspectives and Municipal Fixed Income Quarterly.



Sign up now
Stay on top of today’s latest issues by signing up to receive insights designed to help you succeed.





Editor's Spotlight
A quarterly roundup of our top wealth management, investing, and planning articles.

Issues and Insights
The most up-to-date assessment of planning issues and trends, delivered periodically throughout the year.

Investment and economic publications
Analysis from our asset management team, including Capital Perspectives and Municipal Fixed Income Quarterly.