Despite a rocky stock market, financial uncertainty, and the recent collapse of two major U.S. banks, Chicago-based money manager John Rogers predicts 2023 will still be a strong year for shareholders and investors.
Rogers is the founder, chairman co-CEO and CIO of Ariel Capital Investments in the Windy City. The firm is the country’s first African-American-owned mutual fund company and regularly tops the list of Black Enterprise (BE) Magazines’ top 100 African-American-owned businesses. As of Dec. 31, Ariel managed about $16.2 billion. The company has offices in New York, San Francisco and Sydney.
During a speech last month, Rogers said he is optimistic about solid market performance in 2023. He said, “I’m not afraid of short-term market actions because Ariel is exposed to “traditional companies as opposed to hot tech stocks.”
Additionally, he correctly predicted an increase in inflation last year and that the Bitcoin bubble would burst and implode. Financial experts contend the recent collapse of SVB Bank in California and Signature Bank in New York was, at least in part, linked to growing uncertainty and skepticism about bitcoins and the phenomenon of cryptocurrency.
Rogers, who has been interviewed by this reporter several times over the years, has always invoked a “slow and steady” strategy for investing. Economists and others commend the niche strategy and focused approach to managing money. Diversifying the people who handle and invest it has contributed to the success of the company he founded 40 years ago.
For example, during an interview in New Brunswick, NJ, Rogers said, “By focusing on retention and attrition, we can help prepare the next generation of C-suite leaders and entrepreneurs who will employ more people who look like them.
Rogers is a graduate of Princeton University and was awarded the University’s highest honor, the Woodrow Wilson Award, for community service and commitment to service leadership. arielinvestments.com
(NJ Urban News will continue to follow developments related to the recent financial collapse of SVB and Signature Bank and the impact on minority and women-owned businesses).