DALLAS, Feb. 21, 2024 /PRNewswire/ — On January 31, 2024, the CEO and CIO of GDS Wealth Management, Glen Smith, appeared on Bloomberg Intelligence for an interview. GDS Wealth Management is an investment firm based in Flower Mound, Texas, just north of the Dallas/Fort Worth metroplex. Smith, who co-founded the company and has served as CEO and CIO since its inception, joined Alix Steel and Paul Sweeny to discuss the 2024 market outlook and investment opportunities.
In his interview, Smith speculated on the prospective rate cuts the Federal Reserve (Fed) will make in 2024. Smith discussed the decrease in inflation; although the Fed is still short of their 2% goal, inflation has made significant progress and dropped to 2.9%. In addition to inflation decreases, Smith remarked on the low rates of unemployment and said that, in his opinion, the Fed can afford to be patient and move at a measured pace when it comes to lowering inflation rates.
Indeed, Smith mentioned the 1970s Fed fiasco, in which Arthur Burns, the Federal Reserve Chairman, failed to stop rising inflation rates. The mishandling of this situation ultimately resulted in an economic disaster that was only eclipsed by the Great Depression. To prevent this mistake from repeating, Smith stated that the Fed has no need to immediately lower inflation rates. Instead, he thinks that rate cuts will begin in June 2024, continuing every other month until the end of the year.
Smith also advocated for diversified portfolios and said that he has recently switched holdings in treasuries to longer durations. He further suggested investors confirm that their investments reflect multiple sectors of the market rather than just one trending sector, like the Magnificent Seven.
If you have any questions about investing or your portfolio, reach out to Glen or one of the other skilled financial advisers at GDS Wealth Management by calling (469) 212-8072 or visiting their website at www.gdswealth.com. The GDS team is available to help with any of your investment needs.
GDS Wealth Management is an investment adviser in Flower Mound, TX. GDS Wealth Management is registered with the Securities and Exchange Commission (SEC). Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Commission. GDS Wealth Management only transacts business in states in which it is properly registered or is excluded or exempted from registration. A copy of GDS Wealth Management’s current written disclosure brochure filed with the SEC, which discusses, among other things, GDS Wealth Management’s business practices, services, and fees, is available through the SEC’s website at: adviserinfo.sec.gov. Investing carries inherent risks, including market volatility, potential loss of capital, and uncertainty in returns, which investors should carefully consider before making any financial decisions. Information contained herein does not involve the rendering of personalized investment advice, but is limited to the dissemination of general information. A professional adviser should be consulted before implementing any of the strategies or options presented.
SOURCE GDS Wealth Management
