Practice owners should consider unemployment rate, client needs in post-pandemic market
Click Here to Manage Email Alerts
KOLOA, Hawaii — Reinventing oneself is possible at all stages in life, according to a speaker here.
“The only person that puts barriers in front of you is you,” Guy Adami, an original member of CNBC’s “Fast Money Five” and special guest speaker at Hawaiian Eye 2023, said. “If you want to do or explore something, go for it.”
During his presentation, Adami discussed the post-pandemic market, touching on topics ranging from private equity to central banking.
“One of the ramifications when we live in a higher-interest rate environment is that, almost by definition, things are going to be more difficult,” he said. “We have to focus on that. The cost of capital is more expensive, and companies are falling victim to that.”
Practice owners should assess how their practices can be run if unemployment rises from 3.5% to 5%, Adami said, as well as consider what their customers and clients will be looking for in that financial situation. The current wealth gap is also an issue that must be “bridged,” he said.
“I think we are in the healing portion of this entire thing. The problem, of course, is that getting there is painful,” Adami said.
Although health care as a whole may be challenged by recent economic changes, medical entities like big capital pharmaceutical companies still have room to perform well, according to Adami.
“These are extraordinarily well-run companies now in an environment that lends itself to that kind of innovation and technology. I think that's the place to be,” he said.
During difficult economic times, Adami also suggested that people should try to mitigate their emotion when investing and remember that “hope is not an investment strategy.”
“The good news is, we're getting through it. The bad news is, there is probably a little more pain along the way,” he concluded.
Collapse
Adami G. Where will a post-pandemic market take us? Presented at: Hawaiian Eye 2023; Jan. 14-20, 2023; Koloa, Hawaii.
Read more about
Click Here to Manage Email Alerts