March 8, 2024
In a recent financial analysis, Michael Landsberg, CIO of Landsberg Bennett Private Wealth Management, shared his insights on the current state of the economy and markets. His commentary sheds light on the implications of recent economic data and offers a perspective on investment strategies in the current economic climate.
Here are the takeaways from this discussion:
Jobs Report Analysis: Michael Landsberg views the recent jobs report as decent, noting that while the unemployment rate has slightly increased, the labor market remains strong. However, he expresses concern over rising inflation, particularly in the food and energy sectors.
Market Reaction to Economic Indicators: Landsberg is puzzled by the rise in gold and Bitcoin prices following the jobs report, suggesting that the market might be anticipating a rate cut. He finds this surprising given the strong earnings growth and overall economic performance.
Inflation Target Concerns: Landsberg compares reaching the inflation target to the last mile of delivery, suggesting that reducing inflation from its current level to the 2% target will be challenging. He notes recent increases in prices across various sectors, including food, energy, and metals.
Investment Strategy: Landsberg prefers a selective investment approach, favoring what he refers to as the “Fab Four” over the broader market. He also sees potential in the Russell 2000 for growth, indicating a strategy that seeks out areas with untapped growth potential.
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