Ep 2 – Market and Health Update 

Campbell Judge

Regional Director at Fidelity Investments

Joe Almon

Vice President, Sector & ETF Strategist at Fidelity Investments

Dr. Bill Lloyd MD, FACS

Health Director at Transamerica Advanced Markets

Welcome to Season 1, Episode 2 of Meet the Expert® with Elliot Kallen! 

In this episode, Elliot is bringing on Campbell Judge, Joe Almon, and Dr. Bill Lloyd to discuss market updates, profiting in the health care sector, and staying healthy while the economy opens up.

Campbell Judge, Regional Director at Fidelity Investments, gives a current market update. 

On March 23, 2020, when we hit the bottom of the market, the economic landscape felt dark. There were so many unknowns. The one question that everyone had was: When is the economy going to open back up?

Congress acted quickly to pass the CARES Act, which allowed for a stimulus of close to 2.2 trillion dollars. Stimulus interest rates were cut close to zero. And fortunately, the economy was on solid footing before we got to this point.

Now, the consumer benefits from low oil prices and low interest rates. The gradual reopening of the economy should prove to be a good addition to that stimulus. Since the lows of March 23, 2020, the account market has rebounded close to 28 percent—so this was one of the fastest drops and also one of the fastest recoveries that we’ve experienced.

Going forward, we’re still dealing with the question of how long this recovery will take to be fully realized. This type of uncertainty in the market creates an endurance test for all investors. Inevitably, we’ll be questioning those decisions we’ve made. However, with the good, solid planning, and good and proper portfolio construction that Elliot provides, you’ll definitely be able to get through this.

Joe Almon, Vice President, Sector & ETF Strategist at Fidelity Investments, discusses profiting in the healthcare sector.

For investors in the healthcare sector, we have a rare and unique opportunity.

There are 11 sectors of the economy. From an investment standpoint, there are 4 things to consider about the fundamentals of each sector:

  • The supply and demand picture

  • The technical analysis, as seen on the charts

  • Valuations - are they above average or below average?

  • Managers’ track record 

The healthcare sector is absolutely not an area to go passive. Use an active manager. There is no more inevitable growth tailwind than exists in the healthcare sector. Why? We spend significantly more money on healthcare goods and services as we age, and we’re aging—not only in this country but globally—so the supply and demand picture is something we can count on for the rest of our lifetimes. 

Healthcare is very resistant to recessions, so it’s not susceptible to the business cycle the way cyclical sectors are. There’s a silver lining for the healthcare sector, and especially for the biotechnology sub-industry, and our job to recognize those innovative biotech firms who are curing diseases.

Dr. Bill Lloyd, MD, FACS, Health Director at Transamerica Advanced Markets, talks about how to stay healthy while the economy opens up.

Transamerica works with the Wealth and Health Initiative, an educational program that preaches plan today, live better tomorrow. Make smarter choices today about your finances and lifestyle choices, then down the road, you will have a more financially secure, healthier, and more dignified retirement.

The single greatest risk factor for getting COVID-19 is exposure to the virus. Many of us are unknowing carriers of the virus. That’s why, when you go out, you should wear a mask. Wear a disposable surgical mask, wear a scarf, wear a pashmina—wear whatever you can get your hands on. It’s not for you—it’s to protect everybody else from you because you may already be a carrier of COVID-19!

On the topic of testing, there are two basic categories:

  • Diagnostic tests, which actually look for the virus by testing for little strips of unique COVID-19genetic material 

  • Recovery tests, which test for antibodies to specific strains of COVID-19

It is possible to have a resurgence. That’s another good reason to put that mask on, no matter how well you feel. If you want to stay healthy while the economy opens up, do what you can to avoid a second or third wave.

You should also consider telemedicine. Like everything, first check with your insurer that you’ll be reimbursed for that visit. Make sure you have a webcam and microphone that works. Try to sit in a well-lit area so your doctor can see any physical clues or imbalances or irregularities that might direct them to a more accurate diagnosis. Plan for your appointment just like any other appointment—bring a list of questions, have your medication list handy, and take notes during the visit. Don’t forget to fill out your post-appointment survey; the only way telemedicine is going to get better is if they have responses from patients who provide useful feedback.

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Prosperity Financial Group and Meet the Expert® with Elliot Kallen do not make specific investment recommendations on Meet the Expert® with Elliot Kallen or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of the Meet the Expert® with Elliot Kallen guests, and not necessarily of Elliot Kallen or Prosperity Financial Group.

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