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Inflation is down and the stock market is rallying in response. But the Fed is exercising caution before it lowers interest rates.
What does that mean for you and me? What should we be investing in right now?
Paul Lipcious, CPA, serves as Partner and Senior CFO Advisor and Brandon Hobson, CFA, CPA, is Chief Investment Officer at Practice CFO.
On this episode of The Dental Board Room Podcast, Brandon and Paul join host Drew Phillips for the continuation of The Dental Board Room Podcast's quarterly investment podcast series.
Brandon, Paul and Drew explain why the current markets are overly optimistic and where interest rates are likely to go in Q1 and Q2 of next year.
They go on to discuss what sectors they favor moving into 2024 and how they’re making decisions around equity allocations based on the current economic environment.
Listen in to understand what factors might create a softening of the real estate market and learn why Brandon, Paul and Drew recommend sticking to a long-term investment strategy versus trying to time the market.
Topics Covered
How the Fed might respond to the recent improvement in core inflation numbers
Why the markets are being overly optimistic by pricing in the Fed’s next move
The Magnificent 7 stocks that are driving market performance right now
Why we can’t count on the continued growth of the Magnificent 7
What sectors Brandon, Paul and Drew favor moving into 2024
Where interest rates might go from here and how they’re influenced by employment, inflation and fiscal policy
The likelihood that quantitative tightening will hold through next year
How to adjust portfolio allocations in lieu of the decrease in the 10-year yield
How Practice CFO is making decisions around equity allocations based on the current economy
What differentiates value vs. growth stocks (and why we prefer value over growth)
How to assess the health of a company based on capitalization and debt loads
How wage inflation is affecting dentists and dental specialists
How interest rates and inflation influence real estate and what factors might create a softening in the market
Why time in the market is more important than timing the market
Connect with Brandon Hobson & Paul Lipcius
Resources
Jerome Powell’s Speech on November 30, 2023
‘What’s Going on in the Housing Market?’ in The Wall Street Journal
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This commentary contains general information that is not suitable for everyone. The information contained herein should not be construed as personalized investment advice. Past performance is no guarantee of future results. There is no guarantee that the views and opinions expressed in this commentary will come to pass. Investing in the stock market involves gains and losses and may not be suitable for all investors. Information presented herein is subject to change without notice and should not be considered as a solicitation to buy or sell any security.
Wes knows what's best for dental practices. He's been doing this for a long time and he sees lots of practices. He can tell me how our practice is doing, and what we can do to increase our productivity. With past CPA's, there were no ideas. It was all coming from me, saying "I think I can do better, but I don't know how." I come in to meet with Wes and he says "You CAN do better, and I know how."
PracticeCFO is in hundreds of dental offices around the country. They know what numbers should look like. They know what percentages of payroll, rent and supplies should be, and they will hold you accountable to those numbers, which will really help you stick to your plan and your path of growth and savings. That is invaluable
Whenever something comes up, whether it's building or practice related and we weren't sure where the numbers would go, PracticeCFO has been instrumental in helping us figure that out. I can't say enough of how important that is - that it goes beyond that initial partnership. They make sure this business marriage works.
When I go home from work, I don't spend a whole lot of time stressing about what my books look like, or how much I owe in taxes. By using PracticeCFO, the burden of keeping track of a lot of the big financial numbers and metrics are taken off my plate.
PracticeCFO helped me develop a plan for the future. I have colleagues that work with other accountants that don't have a plan - they just look at the numbers of the practice and that's it. There's no plan for 10, 20 years from now. But with PracticeCFO, you get that. PracticeCFO makes you feel like you're they're only client.
(In reference to his practice sale) What could've been super stressful, wasn't! When picking John and Wes, it was from word of mouth recommendations and other people's experiences from the past that really did it for me. And it turns out that those recommendations were right on the line.
Wes knows the business side of dentistry. His comprehensive plan will organize your personal and professional finances so you can focus on taking care of patients. Massive ROI.
I can’t say enough good things about everyone at PracticeCFO. Everyone on the team is professional, organized, knowledgeable, helpful and kind. They also respond to emails and phone calls immediately and are always happy to help. They have helped me navigate year-to-year as a business owner. PracticeCFO gives me peace of mind that my business is in good hands.
I love Practice CFO! They have helped me obtain a practice and maintain a practice. They are incredible people who are on top of everything and make owning and running the business portion of a practice easy. They couldn’t be better for my business and my sanity. They have every detail of the business and taxes taken care of where all I have to do is show up and follow their easy steps to success!
Practice CFO has the best tools I’ve seen for personal tax and financial planning in addition to top-tier corporate tax and accounting services. I have been very pleased with the level of quality service. They manage my monthly bookkeeping and accounts payable. It is a great system and saves me a ton of time, and it allows us to have monthly financial statements within a week of month end.
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