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Looking for Value in 2023? Use Boyar’s Forgotten Forty as Your Roadmap


Forgotten Forty 2023


Most investors would just as soon forget 2022. With many global indices set to end the year deeply in in the red, “safe” fixed-income investments proving not to be so safe after all, and many former pandemic highflyers decreasing by 70% or more, investors have endured a year of carnage. Except for energy shares (advancing 74%) and consumer staples shares (advancing 0.6%) , there has been no place to hide, with all other S&P 500 sectors  declining -2.4% to -37.0%  YTD as of November 22nd.

Midterm Outlook

Contrarians that we are, this negative performance, in view of the historical record of market performance following mid-term elections, increases our excitement about the prospects for a select number of equities in 2023. After all, based on data from Carson Investment, we’ve entered the most traditionally bullish period of the 16-quarter U.S. presidential cycle: since 1950, the fourth quarter of midterm years and the following two quarters have been the strongest, with the S&P 500 delivering average gains of 6.6%, 7.4%, and 4.8%, respectively.

FTX Collapse and Equity Implications

The collapse of cryptocurrency exchange platform FTX wiped out a staggering amount of wealth, and few can predict what impact, if any, the crypto meltdown will have on equities going forward. Regardless, recent events reinforce the importance of conducting deep fundamental research.

2023 : The Year of the Stock Picker?

As famed value investor Shelby Davis once said, “you make most of your money in a bear market; you just don’t realize it at the time.” Last year, strategists at major Wall Street brokerage houses were optimistic about equities prospects for 2022, but this year they are much less hopeful, with many calling for little to no stock gains in 2023. Perhaps the major indices will flounder in 2023, but we believe that good stock pickers are facing a golden opportunity, as we detail in our annual Forgotten Forty issue, now available for purchase.

Forty stocks, forty one-page reports—each focusing not only on what we believe the stock is worth but also, more important, on the stock’s catalyst: the reason we expect it to go up in the coming year, and the reason we believe that investors should consider owning it.

Not all members of the Forgotten Forty are traditional value stocks, but all are companies we’ve previously featured in our full-length research reports. Each is a name we believe in, a name whose “value” we know inside and out—giving us specific reasons to believe it will outperform in 2023.

Free Sample Reports and Our Special Preorder Offer

For more insight into the thinking behind our Forgotten Forty picks, we invite you to read five sample reports featured in last year’s Forgotten Forty issue.

After you’ve done so, we encourage you to check out our special bonus offer and gain immediate access to the Forgotten Forty 2023 issue. The bonus issues included will be provided upon release. 











The information provided herein (a) is for general, informational purposes only; (b) is not tailored to the specific investment needs of any specific person or entity; and (c) should not be construed as investment advice.  Boyar Research does not offer investment advisory services and is not an investment adviser registered with the U.S. Securities and Exchange Commission (“SEC”) or any other regulatory body.  Boyar Value Group offers investment advisory services through Boyar Asset Management, Inc. (the “Adviser”), which is an affiliate of Boyar Research and is an investment adviser registered with the SEC.  Registration with the SEC should not be construed as an endorsement of the  Adviser by the SEC nor does it indicate that the adviser has attained a particular level of investment skill or acumen. Any opinions expressed herein represent current opinions only and no representation is made with respect to the accuracy, completeness or timeliness of information, and Boyar Research assume no obligation to update or revise such information. You should not assume that any investment discussed herein will be profitable or that any investment decisions in the future will be profitable. Past performance does not guarantee future results. Investing in equities and fixed income involves risk, including the possible loss of principal. Certain information has been provided by and/ or is based on third party sources and, although believed to be reliable, has not been independently verified and Boyar Research is not responsible for third-party errors. This information is not a recommendation, or an offer to sell, or a solicitation of any offer to buy, an interest in any security, including an interest in any investment vehicle managed or advised by affiliates of Boyar Research. Any information that may be considered advice concerning a federal tax issue is not intended to be used, and cannot be used, for the purposes of (i) avoiding penalties imposed under the United States Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter discussed herein