Richard D. Steinberg, CFA

Chief Market Strategist

Boca Raton, FL
Focus Areas

Investment Strategies
Multi-Generational Planning
Estate Planning
Media Spokesperson
Equity Research
Fixed Income Research
Asset Allocation
Portfolio Management

Client Specialty

Executives
Professionals
Non-Profits
Retirees

Recognitions

Forbes Best-In-State, FL, 2019

Community

Jewish Federation of South Palm Beach County, Vice President, Executive Committee & Board of Trustees; Jacobson Jewish Community Foundation of South Palm Beach County, Executive Committee & Board of Trustees; Governance Committee of the Foundation’s Professional Advisory Committee; Temple B’Nai Torah’s Foundation, Investment Committee Board Member; Greater Boca Raton Estate Planning Council Member

Richard Steinberg is the Chief Market Strategist, Co-Chair of the Investment Division and a Principal of The Colony Group. He brings over 25 years of experience leading seasoned investment teams and developing customized investment strategies for private clients, corporations, foundations, retirement accounts, profit-sharing plans and pension accounts. He also analyzes and explains the markets as well as the ever-changing economic and political landscape for clients and the media.

Richard brings a passion for financial management excellence that is personal, cordial, and customized to his roles serving on Colony’s Executive Team and Investment Committee. His philosophy is simple: be available, be flexible, be dedicated and strive to be the best.

He is also a frequent guest on major business television channels and is often quoted in the national media outlets.

Richard co-founded Steinberg Global Asset Management, Ltd. in 1993 with his father, Norman Steinberg. The team they formed is reflective of their philosophy of consistency, experience, education, dedication, and excellence. It is these shared values that led them to merge with The Colony Group in May 2019.

Richard is a Chartered Financial Analyst and member of both the CFA Society of South Florida and the CFA Institute. His diverse background includes portfolio management and securities analysis. Richard is a graduate of Emory University Business School with an undergraduate degree in Finance and supplemental coursework at University College at Oxford University, England.

Richard serves as officer of the Jewish Federation of South Palm Beach County’s Executive Committee as well as its Board of Trustees. Richard has served as Chairman for the Jacobson Jewish Community Foundation of South Palm Beach County and now serves on its Executive Committee, Board of Trustees, and the Governance Committee of the Foundation’s Professional Advisory Committee. He is also a member of the Greater Boca Raton Estate Planning Council. Additionally, Richard serves on the investment committee of Bnai Torah Congregation’s Foundation.

Richard is currently enrolled in the Executive Education Program, Owner/ President Management (OPM), at Harvard Business School.

Richard enjoys spending the precious commodity of his free time devoted to his wife and two children and is an avid golfer and collector of fine wine.

Published Insights

Stocks rally for a second day, Dow jumps more than 200 points to recoup Monday’s losses

"Investors have been negatively conditioned to worry about the economy and the virus from last year’s stressful world. I would describe the environment as skittish, but we are not seeing high levels of short-termism," said Richard Steinberg to CNBC.

Q2 2021 Colony Market Perspectives

The bull market is alive and well as the S&P 500 posted its strongest first-half-year gains since 1998.  However, last winter’s optimism over the development of effective vaccines and an...

Rich Steinberg on the Markets (Radio)

Our Chief Market Strategist, Richard Steinberg, shares his take on inflation, tax hike worries, and the tug-of-war between growth and value stocks with Bloomberg News.

Q1 2021 Market Perspectives – Webinar Recording

Each quarter, we bring you inside Colony’s Investment Committee discussions to learn, first-hand, about the trends that affect the markets, and how they may shape our investment outlook. Top trends we’re...

How the Fed’s plan to let inflation run hot could completely upend the way the market functions

Trying to time a regime shift and a bursting of the related bubble "is extremely difficult and can be extremely painful if you're on the wrong side of the trade," said Richard Steinberg.

Futures are Fluctuating This Morning as Investors Await an Interest Rate Decision From the Fed

Inflation, the Fed stimulus, and an economic recovery that could lead to a “Roaring ‘20s” environment were a few of the market insights shared by Richard Steinberg.

The New Investor’s Survival Guide: How to Make Money (and Stay Sane!) in Today’s Wild Markets

Both Jason Blackwell and Richard Steinberg share their investing advice in Money's comprehensive guide for new investors.

Rich Steinberg on the Markets (Radio)

The markets have been trading on positive news (think huge stimulus package, better vaccine news). Listen as @RichSteinberg shares his thoughts on the markets and where he thinks they might be in 3-4 months.

Stimulus, the yield curve and reopening hopes help small-cap stocks boom

"The yield curve and reopening and fiscal stimulus all play into small caps with a domestic focus," Richard Steinberg told Axios

Companies that meet and beat expectations are going to be rewarded in this market, and ones that aren’t are going to get spanked: Chief Market Strategist

Rich Steinberg shares his take on the markets, earnings and the stimulus proposal on YahooFinance.

Retail Traders Are Piling Into Viral Options Calls at All-Time High Level

“When you have a one-way directional market and everybody wins, it’s kind of like when you go to Las Vegas for the first time. The house really wants you to win, so you think this is an easy game,” said Richard Steinberg, Chief Market Strategist for The Colony Group. “Then you learn it’s not that easy.”

2021: Great Expectations – Webinar Recording

In the 2021: Great Expectations webinar, our Investment Leadership Team provided their insights on the markets and economy and addressed questions on the minds of investors including: Should investors anticipate similar...

Airbnb is worth more than the 3 largest hotel chains combined after its stock popped 143% on its first day of trading

"It's silly season," says Richard Steinberg of The Colony Group. "Investors need to distinguish the difference between a great company and a great price or value."

Investors ‘should start to broaden their portfolios’: Strategist

Great points by Richard Steinberg on the latest market action, ADP numbers, and why investors should consider broadening their portfolios.

Jobless claims increase as 742,000 Americans file for first-time unemployment

New unemployment claims rose for the first time in five weeks, revealing the ongoing impact the coronavirus pandemic is having on the U.S. economy. Rich Steinberg joined CBS Live to discuss this, the stalled Federal relief and the disconnect with the stock market.

Get ready for more executive orders

"Executive orders will be big issue, especially on the trade front. Biden would want a more multilateral approach," said Rich Steinberg, Chief Market Strategist in his interview with CNN Business.

Richard Steinberg on the Markets (Radio)

Our Chief Market Strategist, Richard Steinberg, joins Bloomberg News Daybreak Asia radio to discuss the markets and what investors need to consider as we approach the elections.

Industrials Up On Stimulus Deal Hopes — Industrials Roundup

"The market's telling us that adversity may bring us together temporarily," said Richard Steinberg regarding the second round of a coronavirus stimulus plan.

Energy Up On Rotation Out Of Tech — Energy Roundup

The energy sector is "completely out of favor, but the world's infrastructure still runs on fossil fuels and the amount of time it'll take to transform that and deliver energy at an affordable price with affordable delivery systems is at least a decade," said Richard Steinberg.

The stock market’s not-enough tantrum

Richard Steinberg provides his views on the recent market volatility, potential election meltdown, and lack of additional fiscal stimulus in Axios.

CNBC FED SURVEY

Richard Steinberg, CFA, Chief Market Strategist for The Colony Group, participated in the CNBC Fed Survey published September 15, 2020, which represents the opinions of 37 of the nation’s...

The market and Congress are locked in a high-stakes game of chicken — and who blinks first will determine where stocks go next

"Even if a stimulus deal is passed this month, the 'delay effect' on when aid reaches Americans could see economic indicators turn worse before improving," said Richard Steinberg in Business Insider.

Rich Steinberg on the Markets (Radio)

Richard Steinberg discusses the Fed actions to bolster the economy, possible future inflation, risk, and other relevant market news on Bloomberg News Daybreak Asia.

We can’t get true valuation right now

Richard Steinberg weighs in on the complicated US/China relationship regarding trade and tariffs and market outlook with Yahoo Finance's On The Move.

Instant View: S&P rises above 3,000 level for first time since March

“People have been locked up and when they see sparkles of hope like vaccines, that drives optimism probably ahead of where it should be and clearly ahead of the economy," said Richard Steinberg in Reuters.

Also, published in the New York Times.

4 Wall Street experts weigh in on what makes the stock market’s rally so fragile

The second-wave risk was also ignored for psychological reasons, according to Rich Steinberg, Chief Market Strategist at The Colony Group. Investors trapped in quarantine saw hope in the prospect of reopening. Such hope fueled a spike in market optimism, but the upswing quickly showed "an element of complacency," Steinberg said.

"It's somewhat of a psychological response to be like, 'can we just get back to normal?'" he said. "The markets are acting like we're going to flip a switch and be back to normal. But the economic reality is not there."

Rich Steinberg on Markets (Radio)

Rich Steinberg, Chief Market Strategist at The Colony Group, discusses the markets with Bryan Curtis and Kathleen Hays on Bloomberg Daybreak Asia.

US STOCKS-Wall Street drops on oil price crash, earnings anxiety

“So people are looking to rotate out of names that they don’t think will recover when the market does turn. A lot of money was hiding in utilities and defensive and now they’re starting to peek their head out,” said Rich Steinberg, Chief Market Strategist at The ColonyGroup, in Reuters and Nasdaq.

Are Markets Missing Long-Term Pain Lying Ahead?

"You just can't model the virus," says Richard Steinberg, Chief Market Strategist at The Colony Group. Steinberg emphasizes that the huge uncertainties at play make monitoring the virus closely justifiably important to Wall Street.

"Markets are looking at what the trends are looking like in some of the hot spots and trying to extrapolate. How does that factor into the reopening of the economy? Don't forget that New York, L.A. and Chicago are 10% of GDP. So that's a really important component," Steinberg says.

The Final Round – Yahoo Finance

"You're seeing some level of optimism, just because we've come way off the lows," says Richard Steinberg. "I don't think we're out of the woods yet."

US STOCKS-Futures slide as jobless claims top 6 million

“This shows the magnitude and the seriousness of this problem,” said Richard Steinberg, chief market strategist at Colony Group, in Florida. “We’re going to be digesting this for awhile and until the data becomes less worse, we’re going to have lumpiness in trading around these shock-and-awe numbers.”

Wall Street gains as oil soars 30%

“The surge in crude is helping the mood, so we’re seeing some relief in markets that have been hammered,” said Richard Steinberg, Chief Market Strategist at The Colony Group.

Wall Street gains as oil recovery eclipses record weekly jobless claims

“We’re going to be digesting this for a while and until the data becomes less worse, we’re going to have lumpiness in trading around these shock-and-awe numbers,” said Richard Steinberg, Chief Market Strategist at The Colony Group.

Utilities Give Back Some Gains As Investors Adjust Portfolios

Shares of power producers gave back some of their recent gains, as investors adjusted portfolios at the end of a punishing quarter. Recent moves are the "combination of a market that's been hammered and pension and endowment rebalancing at the end of the quarter," said Rich Steinberg, chief market strategist at wealth-management firm The Colony Group.

The $2 Trillion Stimulus Bill is Key, Says Analyst

Richard Steinberg explains why the $2 trillion stimulus bill is the metric to watch this week on Cheddar. 

Falling Interest Rates Are Tough on Retirees. These Are Your Best Moves

Rich Steinberg, Chief Market Strategist at financial-advice firm The Colony Group is telling his clients – many of them retirees in Boca Raton, something very similar. Yields on energy “master-limited partnerships” and some corporate bonds may be tempting, but retirees have to resist the temptation, he said.

“My dad told me, ‘if you reach for yield, you’ll pull a muscle,’” said, citing his father, Norman Steinberg, with whom he co-founded the financial-advice firm that later merged with Colony

Colony Market Update – COVID-19 Impact

People are gripped with fear. We fear getting sick, losing our jobs, and watching our portfolios decline in value. That is a very understandable reaction to the crisis in which we currently find...

How the government is helping workers and businesses during the coronavirus outbreak

"It's not pretty, but it's orderly," Rich Steinberg told Sam Becker on CNBC Grow. As state and local governments, along with the federal government, work out legislation to help workers and businesses, the markets will adjust accordingly, which could further help stabilize things. 

Investors need to brave ‘ghosts of 2008’ and keep cash ready amid the coronavirus sell-off, top market strategist says

Richard Steinberg offers advice to investors as markets react to the "perfect storm of numerous market pressures" in his interview with Ben Winck in Business Insider.  

Dow plunges 1,465 points into bear market as WHO declares pandemic, impatient investors await stimulus package

The market decline serves as an attractive entry point for investors who can stomach short-term volatility, Richard Steinberg told Ben Winck in Business Insider.

What to expect as markets continue to react to the latest coronavirus news

For our most recent update on the COVID-19, please read: What A Week, Really This Time Equity markets opened sharply down again this morning following President Trump’s address to the nation....

There Is No Alternative to Treasuries

“Treasuries have become the de-facto defensive asset for the market. Investors have to make sure they have enough cash on the sidelines to meet whatever their cash needs are for at least the next year,” Richard Steinberg tells Axios.

Breaking down the Fed’s emergency rate cut

Richard Steinberg shares his thoughts on Fed rate cut and the markets on Yahoo Finance 'On The Move.'

ExxonMobil dividend delivers as coronavirus punishes oil prices

“Natural buyers come into high-quality dividend stocks during volatile times which could help smooth the ride for investors,” said Richard Steinberg via Jonathan Garber on Fox Business Network. 

Another bad sign for the economy: Travel stocks are plunging

Transportation stocks are a leading indicator of anxiety. Travel plans are the first thing that people are canceling, said Richard Steinberg in his interview with Paul La Monica via CNN Business. 

Financials Down As Risk Aversion Drives 10-Year Yields Near Record Low

Fears can be irrational at times, said Richard Steinberg. "I think when you get into stressful periods like this, people start to extrapolate and make bad decisions." via Rob Curran on Morningstar. 

One month does not a trend make: On Football and Investments

By: Jason Blackwell, CFA, CAIA®, Chief Investment Strategist; Brian Katz, CFA, Chief Investment Officer; Richard Steinberg, CFA, Chief Market Strategist A review of October’s investment returns may cause you...

Long term investors must cut through short term noise affecting markets, says CIO

Richard Steinberg, Chief Market Strategist, gives his take on the markets going into 2019.

Despite talk on trade and politics, earnings continue to move higher, says strategist

Richard Steinberg, Chief Market Strategist, joins the ‘Squawk Box’ team to discuss if the market is going to be impacted by the Trump agenda.

Expect this to be an earnings-driven market for the remainder of the year, says pro

Richard Steinberg, Chief Market Strategist, provides his outlook on the markets amid a strong earnings season.

Look at value-oriented stocks on pullback: Richard Steinberg

Richard Steinberg, Chief Market Strategist, weighs in on what’s prompting the shift in market momentum.