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Donald R. Dion, Jr., the president and chief investment officer of Dion Money Management and publisher of Fidelity Independent Adviser teamed up with Phil Orlando, the senior equity market strategist at Pittsburgh-based Federated Investors, to analyze the impact that Barack Obama’s policies will have on the economy when he takes office in January.
“It’s important that investors make appropriate adjustments to their portfolios,” Dion said, “especially now that we know Obama will be our next President.” Dion said. Dion, a registered investment adviser who has offices in Naples, FL and Williamstown, MA, discussed the impact that Barack Obama’s presidency would have on taxes, healthcare, energy and the financial markets in the short video conference released November 5.
“Big win for Senator Obama,” Orlando said, “he’s an incredibly articulate and charismatic individual. Americans were certainly dissatisfied with the economy and the war in Iraq, and Barack Obama is going to bring the sort of change people want in areas like healthcare energy and taxes.”
Dion, who believes that capital gains and dividend taxes could increase during the Barack Obama presidency, said that he would be reallocating clients’ portfolio more towards growth industries. “Barack Obama has also made a big push toward health care,” Dion noted, “so that is another area that we will be allocating assets to.”
Orlando believes that the market may see gains in the short term in light of Barack Obama’s election. “We are optimistic that historically when a new democratic administration comes in, the stock market tends to perform well,” Orlando said, “but given our questions and concerns about the economy, we recommend a cautions allocation is an appropriate course.”
While Orlando and Dion believe that Barack Obama’s presidency could have negative effects on large pharmaceuticals, they believe that the new administration could be positive for hospitals and health care providers. “Hospitals will certainly benefit from Barack Obama’s policy if more Americans are covered by health care plans,” Dion said.
Both Dion and Orlando agree that current market conditions have made it extremely difficult for many individual investors to manage their investments and savings. “It’s a very exciting time in the market—now that we have a new president,” Dion said, “but it will demand a lot of attention and care.
Orlando, who believes that we are at a “critical inflection point in the market”, encourages investors to seek professional financial advice when trying to “make sense” of the financial climate in the wake of the election. “Don Dion is one of the best financial advisers in the business,” Orlando concluded, “I am proud to be on this podium with him.”
About Dion Money Management
Dion Money Management (dionmm.com) is a Registered Investment Adviser counseling individuals, families and businesses. Dion Money Management has offices in Williamstown, Massachusetts and Naples, Florida.
Fidelity Independent Adviser (fidelityadviser.com) currently publishes two weekly newsletters, two monthly newsletters and one quarterly newsletter focused on ETF and mutual fund investing. Don Dion’s ETF Momentum Tracker newsletter had an annualized return of 26.6 percent in 2007 according to the Hulbert Financial Digest, a publication that tracks the performance of 180 financial newsletters, and it was a 2007 top-ten performer according to Peter Brimelow of CBS’s MarketWatch.com.
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