St. Aubin on Money Life Podcast: A Mild Recession on the Rise?
James St. Aubin, chief investment officer at the Sierra Mutual Funds, says that while conventional thinking has moved away from a recession being imminent, more difficult conditions for consumers in the fourth quarter will create an economic slowdown that is likely to become a mild recession early in 2024. St. Aubin says stocks might tolerate the downturn well, in part because of the bear market of 2022, and in part because the economic downturn is unlikely to last more than two quarters. Azish Filabi of the American College of Financial Services talks about a survey showing the factors that help consumers develop, establish and maintain trust in working with financial advisers. Plus, forensic accountant Tracy Coenen discusses ‘gray divorces’ and the challenges that break-ups at older ages create for a fair split of assets, and Chuck answers a listener’s question about pre-nups, trusts or both for providing financial security.
The thoughts and opinions expressed in the segment are solely those of the person speaking as of 9/5/2023, and not necessarily those of Sierra and are provided for informational purposes only. Any opinion or estimate contained in this video is made on a general basis and is not to be relied upon by the listener as advice. The listener must make his/her own assessment of the relevance, accuracy, and adequacy of the information contained in this segment, and make such independent investigations as he/she may consider necessary or appropriate for the purpose of such assessment.