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Justin McNichols, CFA

Chief Investment Officer, Principal |

Justin is the Chief Investment Officer for Osborne Partners, and has over 25 years of experience. Justin is a member of the Osborne Partners Investment Management Team, and became a principal of the firm in 2000. Previously, he was with Wells Fargo Asset Management. At Wells, Mr. McNichols was head of equity research, and a member of the national growth equity team. Additionally, he managed over $1 billion in separate account and mutual fund assets. Justin is a member of CFA Society San Francisco and CFA Institute. Justin received a Bachelor of Arts degree in Economics in three years and a M.B.A. in Finance from the University of California at Irvine. Additionally, he is a CFA Charterholder.

Publications by Justin McNichols, CFA

October 18, 2024 | Economics

Three Reasons Why the Fed Continues to Be Late
Last month, the Federal Reserve Board of Governors made the splashy announcement of a 0.50% cut to the Federal Funds rate, lowering the target rate to 5.00% from a peak […]

July 12, 2024 | Economics, Investment Commentary

The Cheapest Most Expensive Index in History
Is this arguably the cheapest most expensive U.S. equities market in history? We examine this extreme investing environment. Entering 2024, investors were generally positive about the prospect of a solid […]

April 2, 2024 | Investment Commentary

THE OPAQUE WEALTH MANAGEMENT INDUSTRY
Where Consumers Must Navigate Through Meaningless Designations, High Fees, and Poor Portfolio Management to Find the Right Firm Justin McNichols, CFA After more than two decades at Osborne Partners, and […]

April 1, 2024 | Investment Commentary

Are We a Growth Manager or a Value Manager? … Yes
The financial media spends much of each day trotting out fund manager X, who was up 30% last year or analyst Y, whose five-star picks rose 50%. After a while, […]

January 12, 2024 | Global Equities, Economics

2023: The Year of Inflections
Entering 2023, the consensus outlook was bearish for most asset classes. Inflation would remain stubbornly high. Interest rates would continue to rise and remain higher for much longer. Corporate earnings […]

October 16, 2023 | Global Equities

U.S. Equities Are Expensive…(?)
U.S. equities bears have been out in full force during the first nine months of 2023. The most common bearish thesis over the summer sounded something like this: The Federal […]

July 17, 2023 | Economics, Investment Commentary

Mid-Year Asset Class Stoplight
How has Osborne Partners’ asset-class positioning changed since the October 2022 lows? Markets surprised the consensus view in the first half of 2023. Entering the year, the common view for […]

April 15, 2023 | Investment Commentary

Now What?
In 2022, equity markets faced a major dilemma. Inflation had launched from core CPI of barely 1% to a level quickly approaching 7%. The economy was growing at a fast […]

January 16, 2023 | Economics, Investment Commentary

Known Unknowns  
There are known knowns; there are things we know we know. We also know there are known unknowns… “There are known knowns; there are things we know we know. We […]

October 23, 2022 | Global Equities, Investment Commentary

Where Will Investors Focus Next?  
A shift in focus may be upon us in U.S. equities. Investors had a lengthy list of worries in the first three quarters of 2022, starting with the omnipresent war […]
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