The stock market is often considered the barometer of the economy. It reflects the collective sentiment of investors toward the performance of publicly-traded companies and the overall state of the economy. Its constantly fluctuating values, however, may cause investors to feel uncertain about how to approach their investments. While market volatility offers a distinct mix of opportunities and challenges, how can investors not just survive but thrive in today's economic environment?
In this episode, Brett shares a conversation with Mike Hurley. A seasoned market veteran who has performed successfully on both the buy and the sell sides, Mike talks about the stock market. He dives deeper into the impact of inflation on business owners, investors, and home buyers, his economic outlook for the next quarters of 2023, and what advice he gives advisors and investors to navigate this ever-changing economic landscape.
Mike Hurley serves as Chief Market Strategist and Portfolio Manager for NexPoint Advisors. He is also the Chief Investment Officer for NexAdvisors. Before joining NexPoint Advisors, he launched 2 of the first 100 alternative mutual funds, including the Fusion Global Long/Short Fund (FGLSX), which posted a positive return in 2008 and won the Lipper Performance Achievement Award in the Long/Short category for the one year ending December 31, 2008.
Mike also served as Chief Technical Strategist for several boutique research firms, including SoundView Technology Group and E*Offering (The Investment Bank of E*TRADE).
From 1986 to 1994, Mike served as a commissioned officer in the United States Navy, where he flew over 50 combat missions during Operation Desert Storm, earning two Air Medals.
In This Episode
01:31 - Backstory of Mike Hurley
05:15 - Mike's thoughts on the stock market
08:18 - A look at the stock market's trends
18:37 - The impact of inflation on the economy
21:44 - How higher interest rates affect US debt
28:48 - An analysis of inflation trends
35:18 - Mike's economic outlook for the next quarters of 2023
40:49 - How rising interest rates affect home buyers
43:00 - Mike's advice for financial advisors
46:31 - Mike's thoughts on how business owners and investors can navigate the ever-changing economic environment
Favorite Quotes
05:56 - "Markets trend in both directions, and people often forget that. They often forget it right about when they're ready to make a turning point." - Mike Hurley
28:05 - "The stock market is a leading economic indicator. So, when you go to plan your investments, speak to a trained professional. Don't just plan for your retirement based on what you're reading in the headlines." - Mike Hurley
43:01 - "I always suggest advisors who have clients who want some income to put them in bonds with a maturity date or actual bonds instead of bond funds because when the bond matures, they get their money back." - Mike Hurley
47:23 - "If you're running a different business, find a great advisor who's in touch with having a good plan and good products at his service so that he has a different tool for a different environment." - Mike Hurley
47:34 - "Not everything's a nail. You just can't go through life with a hammer. You have to generate income differently. Sometimes you have to protect a portfolio differently." - Mike Hurley
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