The economy continues to grow, although several economic indicators have begun to signal a slowing in the pace of growth. We view the economy as reasonably healthy but recognize the headwinds of higher interest rates, an inevitable slowdown in consumer spending, and tighter lending standards are likely to lead toward a step down in the rate growth at some point in 2024.
Important Disclosures and Notices.
This report is provided for information purposes only. The information contained herein is pulled from various financial data sources which we believe to be reliable but not guaranteed. It is not intended as investment advice and does not address or account for individual investor circumstances. The statements contained herein are based solely upon the opinions of Kovitz Investment Group Partners, LLC (“Kovitz”) DBA Telemus Capital. Telemus Capital is a division of Kovitz, a registered investment adviser with the Securities and Exchange Commission (SEC). All opinions and views constitute our judgments as of the date of writing and are subject to change at any time without notice. PAST PERFORMANCE IS NOT A GUARANTEE OF FUTURE RESULTS. Investment decisions should always be made based on the client’s specific financial needs, goals and objectives, time horizon and risk tolerance. Current and future portfolio holdings are subject to risk. Risks may include interest-rate risk, market risk, inflation risk, deflation risk, currency risk, reinvestment risk, business risk, liquidity risk, financial risk and cybersecurity risk. These risks are more fully described in Telemus Capital’s Firm Brochure (Part 2A of Form ADV), which is available upon request. Telemus Capital does not guarantee the results of any investments. Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, and may lose value.
Any reference to an index is included for illustrative purposes only, as an index is not a security in which an investment can be made. Indices are unmanaged vehicles that serve as market indicators and do not account for the deduction of management fees and/or transaction costs generally associated with investable products. It should not be assumed that portfolio holdings will correspond directly to the comparative index benchmark shown above. The holdings and performance of Telemus Capital client accounts may vary widely from those of the presented indices. Advisory services are only offered to clients or prospective clients where Telemus Capital and its representatives are properly licensed or exempt from licensure. No advice may be rendered by Telemus Capital unless a client service agreement is in place. All composite data and corresponding calculations are available upon request.