Joseph Davis

About the author

Joseph Davis is Vanguard's global chief economist and global head of its Investment Strategy Group, which produces the firm's annual economic and capital markets outlook. He chairs Vanguard's Strategic Asset Allocation Committee and helped develop the Vanguard Capital Markets Model. He holds a PhD in economics from Duke and wrote Coming into View, on how AI and other long-term trends may shape investment returns.

Memos, letters and research

All research

Vanguard Economic and Market Outlook Vanguard

Vanguard's annual economic and market outlook and its quarterly 10-year return forecasts from the Vanguard Capital Markets Model. It is a valuation-driven counterweight to sell-side optimism.

Outlook Intermediate Annual outlook each December; return forecasts updated quarterly