October 31, 2024
Following Thursday’s PCE report showing a 0.2% rise in prices for September, Michael Landsberg, Chief Investment Officer of Landsberg Bennett Private Wealth Management, cautioned that investors should prepare for further inflationary pressures in the coming months.
He pointed to elevated commodity prices, rising shipping costs in China, and increased wages as factors likely to push inflation higher in the near term, suggesting that “higher for longer” rates may be on the horizon.
After the recent tech earnings, Landsberg noted the importance of reassessing tech positions, suggesting that it “makes some sense to trim some from those names that have worked so well over the past 12-18 months and look for [artificial-intelligence] laggards” as well as other tech sectors such as cybersecurity, robotics, automation, and smart infrastructure.
Key Takeaways:
With inflationary pressures expected to persist, Michael Landsberg’s insights highlight the importance of maintaining a diversified portfolio that can withstand potential rate hikes.
As economic trends evolve, focusing on a balanced approach may help investors navigate the “higher for longer” inflation landscape.
Landsberg Bennett is a group comprised of investment professionals registered with Hightower Advisors, LLC, an SEC registered investment adviser. Some investment professionals may also be registered with Hightower Securities, LLC (member FINRA and SIPC). Advisory services are offered through Hightower Advisors, LLC. Securities are offered through Hightower Securities, LLC.
This is not an offer to buy or sell securities, nor should anything contained herein be construed as a recommendation or advice of any kind. Consult with an appropriately credentialed professional before making any financial, investment, tax or legal decision. No investment process is free of risk, and there is no guarantee that any investment process or investment opportunities will be profitable or suitable for all investors. Past performance is neither indicative nor a guarantee of future results. You cannot invest directly in an index.
These materials were created for informational purposes only; the opinions and positions stated are those of the author(s) and are not necessarily the official opinion or position of Hightower Advisors, LLC or its affiliates (“Hightower”). Any examples used are for illustrative purposes only and based on generic assumptions. All data or other information referenced is from sources believed to be reliable but not independently verified. Information provided is as of the date referenced and is subject to change without notice. Hightower assumes no liability for any action made or taken in reliance on or relating in any way to this information. Hightower makes no representations or warranties, express or implied, as to the accuracy or completeness of the information, for statements or errors or omissions, or results obtained from the use of this information. References to any person, organization, or the inclusion of external hyperlinks does not constitute endorsement (or guarantee of accuracy or safety) by Hightower of any such person, organization or linked website or the information, products or services contained therein.
Click here for definitions of and disclosures specific to commonly used terms.