March 19, 2026 • 44 mins
It's important for your financial plan to work for you, not you work for your financial plan. This week, hosts John and Giuseppe lay out a framework to guide our portfolio decisions. Plus, AI and Nvidea reporting, Energy, and Tesla Space X. Also an over view of Structured Notes. The Wise Money Guys.
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Speaker 1 (00:00):
The Wise Money Guys radio show is brought to you
by One Source of Wealth Management SEC Licensed three one
nine zero seven eight. For disclosures and more information, and
visit our website One Source WM dot com.
Speaker 2 (00:13):
Hello and welcome to the Wise Money Guys radio Show.
I'm your co host John Scambray and I'm here with
my partner Jasethe Visconti, and we are certified portfolio Managers,
which means we are investment experts that specialize in helping
people who are retired were about to retire manage their money.
If you like our show and have any comments, questions,
(00:34):
or want to get together for a no obligation consultation,
give us a call at nine to one six nine
six seven thirty five hundred. For more information, you can
visit our website Wysemoneyguys dot com. You can scroll down
to the end of the page for disclosures. There's also
great content there. In fact, somebody recently told us that
they spent some time going through the resources that are
(00:59):
available on our website because there's different articles that we
get an attached to our website. There's videos, there's calculators, calculators,
and there's a chat functionality. If you just have some
basic questions before deciding to meet with us, you can
(01:19):
click on the chat and they can answer basic questions.
And then more importantly, we are having our first of
the year, and it seems like it seems like it
should already be like our second one, but it was
just the first one of these, yeah, because it's it's
it's March. But nevertheless, our first retirement Dinner workshop is
(01:43):
next week Wednesday, I guess that would be this week?
Is that this week? Always do this Saturday is still
this week, so it is it's next week and we're
starting a little bit earlier, five thirty to seven at
Wood Creek Golf Club again five thirty to seven and uh.
(02:04):
To get registered, you can do that a couple of ways. One,
you of course, can call and and just register with
Kathy by calling nine one six ninety sixty seven thirty
five hundred, or at our website Whysmoneynights dot com. There's
a tab up top that says workshops. If you just
(02:25):
click on that tab, then you can scroll and it
gives more information about what the content will be and
you can just fill out the the contact there that
is to RSVP, which will go to Kathy as well,
and then that gets you on the list to a tent.
(02:46):
By the way, we picked out some great food, I think,
so we're gonna fij you. There's also going to be
dessert in your typical refreshments. No how call though, but
if you want an alcohol you could buy it, but
UH call the soda water, sparkling water. And I forget
the food items, but I was like chicken pacada and yeah,
(03:10):
few different different.
Speaker 3 (03:11):
Items, different appetizers, things like that. So that's not why
you come.
Speaker 2 (03:16):
You come. That's where I'm going. That's why Juseppi's going.
But you know, if you're somebody who feels like you're underrepresented,
maybe you're you're you're wondering why you're not getting the
results and the value out of your investment portfolio, your plan,
or maybe it's just been a while since you've looked
(03:38):
at things or or heard from whoever UH is supposed
to be taking care of you.
Speaker 3 (03:44):
Maybe you've got too much going on in different silos.
We just met with a new prospect that's a new
client now and we and he gave us a file
and we had maybe like five different statements out there.
Oh at five different five six different accounts, and you know,
just too much to kind of track and manage, and
there was just basically everything was in its little own silo.
(04:06):
So you know what we're going to be doing is
is combining some of these accounts.
Speaker 2 (04:13):
Yeah, because there was multiple I rays at different firms,
all with multiple multiple accounts under the name of the trust,
which really no reason to have unless you have unless
you want to keep them separately.
Speaker 3 (04:25):
But then it's just hard to track. You know what,
what's one account doing versus the other account? Is one
account and the investments in that account complementing the other
investments in the other account, or are they duplicating it?
Do you have too much risk one and not enough
in the other, or too much risk in both. So
there's all these things, and it's basically we're helping to
simplify his life in the investment world organized. And then
(04:49):
not only that, but some of these accounts were smaller accounts,
but now they're combined together just give more scale exactly
for diversification, right, and different investments.
Speaker 2 (04:58):
And we spend a lot of time timealking about diversification,
not to get too much off on a tangent, but
the reality is is you're not benefiting from firm diversification.
And we see that a lot where people have again
as you as this new client, we just got you know,
accounts everywhere.
Speaker 3 (05:17):
And Stanley and then another kount of Schwab and another
account of.
Speaker 2 (05:20):
Finality or you know, so on and so forth, and
and often what you miss out on is true diversification
because we first of all specialize in building custom portfolios
primarily with individual stocks and bonds, some funds ETFs, especially
(05:41):
for the alternative or the hedging or the private cred
private debt, debt in side. But for the most part,
you know, the these these stocks, you know that could
be hundreds of dollars a share. If you've got a
bunch of small accounts, you really can't have a properly
diversified custom por portfolio designed specifically for your plan, your
(06:04):
plan goals if it's spread too thin.
Speaker 3 (06:07):
Well, and it's just hard to track, right, especially if
you're managing yourself. And then even if you're not managing yourself,
and then you say, oh, well, no, no, I have
an advisor at Morgan Stanley and they're managing one portfolio.
Have another advisor at Fidelity and they're managing another portfolio,
have another advisor over at wherever and they're managing that portfolio.
Do all those advisors managing those separate different portfolios get
(06:31):
on the phone and talk to each other and say, hey,
I'm trading this and rebalancing that way. You know, maybe
you want to compliment your portfolio to you know, adjust
with mine, and they don't. So still working in silos.
And you want most importantly, like we've talked multiple times,
having your assets align with your overall plan. Right, what
(06:51):
is your timeline, what are your financial goals? What's important
to you? How hard do these assets need to work
for you, whether whether it's for spending goals or you know,
things in the future in your term future that you're
going to either purchase or pay off or help family
out or plan for the unexpected. And so the plan
has to be the foundation and then the and then
(07:12):
that basically runs and directs where the assets should be
invested in how they should be invested, and then they
just work synergistically. And as time goes on and your
plans change or the market and economy changes, then you
make the necessary adjustments.
Speaker 2 (07:26):
By the way, if you're wondering why you should be
listening to us, or maybe you've tuned in for the
first time and never heard us on the radio or
on our YouTube channel or come to a seminar. Giuseppe
and I have been doing this for over fifty years combined.
And you know that in itself doesn't make you investment experts,
but our our skills that we have learned along the
(07:51):
ways that are battle tested, I like to say, and
the continued effort we put into making sure we're students
of However this industry, this this financial management, this financial
services industry changes. We spend a lot of time, effort
and money making sure that we have skills and resources
(08:15):
second to none, best tools, best tools, that it's.
Speaker 3 (08:21):
Well and we did we just added I mean this
year what we did is we're hiring, you know, additional staff.
We are We've implemented a couple we're spending money and
implementing a couple new software and technology tools on top
of it. And so we're just continuing to try to
build one. We want to have the most tools available
(08:43):
for our clients, uh, and then for ourselves on the
business side, just to run run efficiently, just to provide
the best experience that we can for the clients. And
the best part of it is is that we're we're
our own business. We don't we don't custody the fund ourselves.
We use the large asset managers out there and custodians.
(09:05):
Schwab is the main one that we use. But with
that we get to use Schwab's tools and then anything
that we feel that's lacking, then we add on on
top of that. And what we really provide for our
customers is unbiased truly, you know, business environment that's going
to be going towards your goal. So if we see that, hey,
(09:28):
this is what is needed for clients while we're meeting
with them and their needs and their plans and so
on and so forth, we can go out and get it.
We're not restricted.
Speaker 2 (09:35):
Yeah, you know, there's so much fear, I guess recently
over this whole AI trade. AI technology what we often
refer to as the Fourth Industrial Revolution, But the reality
is that we're years, if not decades away from where
(09:57):
humanity is just replaced. Do I think that humanity can
be replaced in a lot of aspects for you know,
certain skills, Yeah, But at the same time, you know,
the the robotic, the artificial intelligence, the machine learning, all
the things that are tied to AI, it will never
(10:20):
be able to replace empathy and carrying and understanding and
just being able to meet with a warm body. So
I think you know the scare that, oh geez, every
job is going to be replaced. I don't think so.
Maybe uh, you know, like Dee's from now, But at
(10:42):
the end of the day, no machine will ever care
about you know, your results, your experiences, your needs, and
as jo Seppi said, the tools that we're employing and
investing in to make sure you know our our service,
everything that you know. Whether you're manning managing hundreds of
(11:04):
millions like us or billions, you know, you're not going
to find yourself lacking for the resources that we have
because we manage hundreds of millions versus billions. So when
we come back, we're going to talk about some things,
some current events happening, give you some ideas on strategy
(11:26):
and things that we're doing right now, and again keep
inviting you to the seminar, the Dinner Seminar for Retirees
on the fourth Wise Mandy Guys Radio Show. I'm your
co host John Scambran. I'm here with my partner Josette Vascani,
and we're going to talk a little bit about the
things that are going on and one of the biggest
that Jesus just as crazy every quarter. You know, I
(11:48):
was mentioning AI and machine learning and artificial intelligence and
all those things that are making the Fourth Industrial Revolution
become a reality, and none bigger than Nvidia. I think
in Vidia has gotten stale quite frankly, because what stale?
Speaker 3 (12:10):
What? What?
Speaker 2 (12:11):
Well? They just crushed earning, right, and what do the
stock do? One down exactly because people are over it.
They're over the AI chip trade, they're definitely over the software. Well,
it could be just trade, it.
Speaker 3 (12:25):
Could be just chasing because there's just been a rotation
out of some of those tech stocks and going into
other sectors. And maybe they're continuing and there's some profit taking,
but we'll probably see it dip down and then come
back up. I mean, if anybody's a leader, I mean,
they're it. And as long as they continue to produce earnings,
I mean, it's continue to provide a runway for them
(12:46):
to stay at elevated levels.
Speaker 2 (12:47):
My concern is is does this revenue become a you know,
a circular scheme and.
Speaker 3 (12:55):
The investment part of it.
Speaker 2 (12:56):
Yeah, the investment part of it, because how many companies
are out there that can keep just going, Oh, we're
investing in AI infrastructure, and we need billions of dollars
worth of you know, AI chips, And how how is
it sustainable, you know, for a company like Nvidia to
(13:16):
keep generating revenue you know, in the tens of billions
of dollars per quarter. I mean, there's just there's only
a finite number of companies that have scale to buy
you know, Nvidia chips for you know, various applications, whether
whether it's data storage or or some other sort of
(13:40):
of need.
Speaker 3 (13:40):
I mean, well, I think a couple of things would be,
you know, what the capability of the chip is, and
then how long its lifespan is before the new chip
that is greater and faster and better that then those
companies within the industry now need and need to upgrade, right.
And I think right now it's just a big boom
(14:02):
because everybody's just trying to get established with this whole
AI thing, and they're trying to play either catch up
or lead the game, right, And it's countries, it's not
just businesses in the US, but it's countries around the
world trying to go after this AI race. It was
kind of like the space race is kind of how
I feel it.
Speaker 2 (14:21):
That is what I think slows down at some point,
you know, and at the other time of hit peak.
Speaker 3 (14:26):
Well and at the other point, what is the peak is?
I guess that's the question. And we're not I'm not
an engineer, but if you look at the trajectory of
AI and its exponential growth of capabilities, I mean, that
thing just continues to go up like a rocket ship. Right,
It's not this slow, slightly curve.
Speaker 2 (14:47):
A high single digit or a or a low double
digit growth trajectory exponential. It'sdiculous.
Speaker 3 (14:53):
What what AI and ll M, you know, machines and
machine learning was able to do six months ago, a
year ago is obsolete in comparison to what it can
do right now. So how how long is that runway?
How long is that runway where until it gets to
a point where it's maybe a lot of diminishing returns,
And then at that point it's like, okay, well, then
(15:15):
we've upgraded our chips to a certain point. You gotta
like our laptops, right, we get computers? Oh yeah, I mean,
how immundated. That was the Murphy's law or something of
that nature. Remember that it was the rate of transactions
or no, no, no, no, It was how many transistors could
fit on a silicon wafer and that and that was
(15:39):
like doubling and tripling like every month or every quarter
or of every year. And now they've gone to you know,
how many instructions per second? Basically can it?
Speaker 2 (15:50):
Can it? Ai Chip do? Which is in the you
know billions actually, which was just hard to fathom. But
here's my two cents and it and it kind of
goes to just an overall theme.
Speaker 3 (16:04):
I don't make pennies anymore.
Speaker 2 (16:07):
Pennies cost a nickel to make. Here's my five cents,
which costs you know, seven cents to make. The reality
is is that, you know, our philosophy and our management
style for our clients, especially our retired clients, is to
take some profit off the table, right, And I think
that's what your point, that's what's happening. I mean, does
(16:30):
Nvidia go to two hundred and fifty dollars? Like uh,
several analysts that we were reading this morning have have
increased their price target to maybe. But if you've already
made you know, double digit or even triple digit returns
on the Nvidia trade in your portfolio. You know, I'm
saying get out of it one hundred percent, but my
(16:53):
five cents would be too trim the position, and we
have done that, yet I'm gonna stick to the five
cents because you're right, inflation, inflation, you can't you can't
do two cents anymore. It's five cents. So but but
that's that's where we're at, right. I mean, there's other investments,
other things that haven't run that could potentially have more
(17:17):
upside than Nvidia.
Speaker 3 (17:19):
Well, and we've been seeing that this, you know, for
the past few months, right, And that's what that rotation
has been is stocks of other sectors, right, not these
big Max seven names. They haven't been the shining star.
It's the rest of the four hundred and ninety three
stocks within the S and P five hundred, right, not
the Max Magnificent seven. And I think that's where you're
(17:40):
seeing maybe some of this sell off and some profit
taking and then spreading it out into other sectors of
the market as well as some other areas of the
globe because they've they've had a good run up as well,
and they've continued to run up.
Speaker 2 (17:52):
So you know, which stock I think is still an
interesting story. As far as the fourth you know, the
fourth kind just movie that's a scary movie about you know,
uh aliens inductions Yah, which junctions by aliens.
Speaker 3 (18:07):
Which Trump was supposed to release.
Speaker 2 (18:09):
Yeah, he's going to he said he's going to release,
is going to release more info and all that stuff exactly.
But but I think the one that has still out
of the mag seven By the way, I.
Speaker 3 (18:23):
Thought you were going to go to your sponsored come
to the front line. I'm not gonna.
Speaker 2 (18:28):
I do love energy, and I won't lie. I think
the energy sector is, you know, everything begins and ends
with energy, always has, at least for the foreseeable future.
It will maybe it won't always be oil or coal
or nuclear AI, but eventual recording. Right, that's where it
is right now, for at least the next decade or
(18:48):
until some sort of breakthroughs in in battery storage, solar
renewable other than nuclear. You know, maybe it's the cold
fission or the hydrogen play is actually you know a
lot of what future futurists think is the future of
energy because it's it's reoccurring it's abundant, it's it's affordable,
(19:14):
and they're becoming a lot more efficient at turning hydrogen
into electricity with a byproduct of the water. I mean,
think of that, right, So that's neither here nor there.
But where I was going is I think the Tesla
story is still interesting, not because of electric vehicles, but
because of SpaceX. And I think if SpaceX, you know,
(19:38):
there's been a lot of information out there, a lot
of conversations, a lot of talk from Elon Musk that
he's considering either making SpaceX part of Tesla or SpaceX
going public on its own, so on and so forth.
But I think there's a lot of potential and only that.
Speaker 3 (20:00):
But he's got SpaceX, he's got Starlink, he's got Neurlink,
he's got now robotics. Yep.
Speaker 2 (20:07):
Right, he of course has still X and so on
and so forth. But by the way, we can get
clients who are interested. Now, that's a very speculative aggressive
you know, investment and aggressive. In case you haven't heard
or figured this out from when your advisor says aggressive,
it means that on the risk return scale, it's a
(20:30):
higher risk for a potential return, and that ratio is
how we nicely call it either aggressive or moderate or conservative.
Speaker 3 (20:40):
Typically you're more concentrated in stocks exactly.
Speaker 2 (20:46):
So by the way we have and can get for
our clients minimum twenty five thousand dollars investment into your
portfolio that will be tied and has some exposure, have
some exposure to Space plus Anthropic plus some other big
eiaes are private. And so if you're interested in SpaceX
(21:09):
and and and getting that into your portfolio again, that
wouldn't be the only reason why you would give us
a call, but it's certainly a one two. Potentially discuss
your overall makeup of your portfolio and how it's allocated,
and get a free review and consultation out of us
and more information on how you could potentially get SpaceX
(21:32):
in your portfolio. That's certainly a way to do it,
and you would do that by calling nine six seven,
five hundred and since this is the last weekend before
next our seminar, i'll mention it one more time before
we go to break our first of the year dinner
workshop where we show people exactly how we manage money,
(21:57):
what our philosophy is. You know, what some of our
guiding principles are more importantly, what are some of the
investments that our clients hold, What are some of the
portfolios that we've custom made that our clients hold, and
how they're doing, what are some specific investments.
Speaker 3 (22:16):
Well, views on economy and the markets and where we
are right now, where have we been, kind of where
we're going, and how it ties in together and then
hopefully enlightens you to give us a little bit more
time to have a conversation of your situation specifically and
then tied all together.
Speaker 2 (22:34):
Yeah, Actually, that's mainly what you get out of it
is just a real good overview, and most people walk
away thinking it was a very good use of their time.
They learned a lot. And how do we know that
because of the comment responses, the survey responses that we get.
(22:55):
And that's that's all we ask. Actually, the ticket for
coming and getting a great meal and getting a great
education on the way we do things and some of
the opportunities that are certainly out there. We just asked
that you just fill out a comment card so again
called nine one six nine six seven thirty five hundred
to register for our March fourth Dinner workshop at Wood
(23:18):
Creek Golf Club from five thirty to seven. You should
be contemplating retirement or or retired, and you should have
you know, investments that that are important to your financial life.
And I got a question for you, what did you
think of the state of the Union.
Speaker 3 (23:37):
I actually didn't catch it, but then I sat down
and luckily they had a rerun, so I watched most
of it.
Speaker 2 (23:44):
Oh week, it's been the hot topic.
Speaker 3 (23:47):
On Yeah, I think it was. I think it was.
I think it was. He made a lot of good
points going, you know, speaking of AI.
Speaker 2 (23:55):
I think we got a little market lift out of
it too, if you look right like right after it,
you know, market had a good day, then a little
bit of a down day, then then a really good
day and now a little bit of a down day
to finish out the week.
Speaker 3 (24:10):
And yeah, Mark has been pretty resilient overall, especially after
the full terror situation you know, last week and then
just the unrest in Iran. So I thought, I thought
we were going to open up Monday with a bigger
gap down in the market, you know, and we were
down a little bit, but nothing like I thought. But overall, yeah,
(24:32):
I think he made a lot of good points, you know,
the democratic side, we actually had them standing up a
few times.
Speaker 2 (24:39):
How do they not how do you not forget? Forget
what side?
Speaker 3 (24:43):
I don't even try to rationalize, right, don't even try.
Speaker 2 (24:45):
And for like those poor people who lost, they didn't
stand for that woman who the I mean some of
them did, most didn't. The the lady whose daughter was
stabbed on the train, and most of them didn't stand
because it was a it was an illegal person, an
(25:05):
I llegal alien who the girl she was getting coming
home from working at a pizza place, takes the train
and just got up from behind her and stabbed her
to death. And they didn't. They didn't stand for that woman.
They didn't stand that with the mother. And just that's
that's the only thing I don't understand about it. I
(25:27):
get that if if it's not your president, I mean,
he's certainly our president, and and I just whether he's
what I mean is did you vote for him or
not vote for him? I mean? And and the reality
is is I think you know, if you're looking at
various presidents, which ones are good for you know, our
(25:50):
wealth and well being and protection, and and which are bad?
I think this one, you know, like him, hate him,
But you can't ignore that you know, he pro taking
care of people from a prosperity certainly from a prosperity perspective,
(26:10):
you know, we want.
Speaker 3 (26:11):
Yeah, he's done a lot of He's got a lot
of good ideas and a lot of good things. I
mean he's not He's not perfect.
Speaker 2 (26:17):
Nobody is.
Speaker 3 (26:18):
Yeah, some of the things he's come up with, I'm like,
that doesn't make sense. I'm not sure why he even
does that, but like, well, I mean he just is
fueled to the fire on some of the things in
rhetoric that you know of him speaking. But that attracts
to some people because he's like, oh, he's just down
to earth and says what he says what he feels.
He's not trying to cover up. I'm definitely not for
(26:39):
the government, and you know, intertwining with private investment like
investing in Intel and things like that. Nature but going
on that whole AI kick, and I like how he
is trying to have it where these tech companies can
go and produce their own power plants, so then it's
not going to impact right, the US the residence. So
(27:00):
things like that is great, right, some of those ideas
are great because then it's not you know if it
can if they're taking the brunt of it, and then
it's not going to be spreading to the rest of
US residents. Whatever that's going to be to have to
pay a higher.
Speaker 2 (27:15):
I think in in in argument or in contrast, like
you said, we're investing in Intel. Don't forget in two
thousand and eight we bought basically Wells Fargo. You did
it for you. But my point is is, I.
Speaker 3 (27:35):
Well, I'm not saying I'm not saying I'm not pointing
to Trump. I don't care who it is. It's it's
creating a moral hazard. It's creating an environment exactly what's
happening where the market just continues to go up and
when when stuff goes wrong and there's there's cracks in
the financial system because of either bad management or lack
(27:56):
of innovation or whatever the case may be, by a
private company, right, they shouldn't be build out right because
then because then it's like, well, that's.
Speaker 2 (28:05):
Why we have forty trillion dollars about to have forty
dollars because.
Speaker 3 (28:10):
Exactly it's like the banking crist little mini banking crises
we had in twenty twenty three, yep, with Silicon Valley Bank,
and signature bank, and then it filtered on it spread
onto a first national Republic, right, and they and they,
they stepped in and covered the depositors. I mean, great
for the depositors, But what message does that I mean,
(28:33):
And they weren't that big of a bank, So what
message does that play to the rest of the banks
out there? Hey, we could take a little bit of
risks because we're we're as big or larger. Yeah, then
these banks that they build out and you know, let's
take the risks because we could probably make money for
a couple of years if we leverage up a little
bit or whatever.
Speaker 2 (28:51):
Yeah, it certainly doesn't make you cautious if you feel
like there's a backstop to any bad decision.
Speaker 3 (28:58):
Yeah.
Speaker 2 (28:58):
But nevertheless, I thought it was good overall. I thought
that the market responded positively.
Speaker 3 (29:04):
Overall, as long as you thought it was going.
Speaker 2 (29:06):
To be Yeah, I knew it was going to be long.
I knew it was going to be two hours. The
lost one was like an hour and a half or
an hour and forty. Yes, And there's quite frankly, a
lot to talk about. And I also, like, you know,
recognizing are our older heroes, and so that was awesome.
I thought that was inspirational. And just giving the Congressional
(29:30):
Medal of Honor to the one hundred year old World
War Two you know, uh ace pilot and just a lot.
Speaker 3 (29:38):
Of neat was it.
Speaker 2 (29:39):
The coast guard got something well, and the helicopter guy
who got the Congressional Medal of Honor he was shot
and still landed.
Speaker 3 (29:51):
Venezuela.
Speaker 2 (29:52):
I mean, unbelievable. And that's what I don't understand is
how just forget it, forget politics. How do you just
not you know, get inspired and and stand up for
that there's people out there.
Speaker 3 (30:04):
Well I think they did stand up for some of.
Speaker 2 (30:06):
The helping other people, protecting other people, protecting our way alife,
putting their own life in jeopardy. And how how that
just doesn't you know, inspire you is beyond me. But yeah,
there was there was partial.
Speaker 3 (30:22):
Standing, but I was surprised how much they stood up
in comparison to the last one. It was zero st
You know why it was zero standing.
Speaker 2 (30:29):
Up because seventy three Democratic yeah, Democrat congressmen weren't there.
They were they were doing some weird puppet thing. They
were in frog costumes and yeah, they'd had like a
it was called like drain the swamp thing, so they
(30:50):
they didn't go to the state. Yeah, they were in
frog costumes and other kind of costumes. And it just
shows that's who you want representing you in your state,
in your district.
Speaker 3 (31:01):
That's your that's your job. That's your job. And I see,
I see the City of the Union as like a
regional meeting that you would go to your performance meeting. Know, yeah,
I mean, but this is this is the thing with
with politicians, and that's different that that's the difference between
a life in politics and public sector sometimes and I'm
(31:24):
not saying public sector like all, but specifically the politicians
versus private sector, right, And that's where I don't that's
where I don't like the government to bleed into the
private sector because look if the if you do something
and you mess up because of mismanagement, fraud, uh, you
say one thing and do another thing whatever, guess what
(31:45):
your business is done. You have to close your doors.
You are accountable, that's it. But not in a politician's life.
You can pass laws, bills, policy guidelines flat on their face,
waste millions or billions of dollars, and they still are
in office and they still get to walk in and
(32:07):
wear a suit and go talk to everybody on the TV,
and so on and so forth. Four years, eight years,
a decade, two decades, right, and only that when I
did love the most about the what he said was
no more basically insider trading. Yeah, I love that. And
because because look all of their salaries, all of their
(32:28):
salaries are public. You can look any one of them up.
So for example, Gavin Newsome, you can look up his
salary and I think it's like two hundred and forty
seven or two seventy four, maybe I have it backwards.
It's less than three hundred thousand dollars a year. Yeah,
I think about a nine point one million dollar home
in Morin last year. How does that happen? Yeah?
Speaker 2 (32:43):
And he still has a five million dollar home in
sacrament Yeah.
Speaker 3 (32:46):
And there's and we're just pointing. I'm just pointing one
because we live in California and we can't, we can't
not pay attention to our own governor. But there's people
on both sides, Republican and Democrat. They should just be fired, essentially.
And because if we did anything like that in our industry,
oh my gosh, we'd be sec would come down on.
Speaker 2 (33:07):
So hard it really makes no sense. Are you there
to actually make your states, your district better or or
are you there for personal benefit? And I think to
your point, most you know, politicians have gotten to the
point to where they're there for their personal benefits and
their power. Their need for power and and and greed
(33:31):
is certainly the big driver.
Speaker 3 (33:33):
Well that's why that's why you know, investment in Intel,
or investment in this company, or saving that bank or
saving that bank. That's why it's not a great idea,
because then it's almost the same thing. It's it creates
almost the same situation where now you can have this
politician they're in office for so long or get another term,
(33:53):
and they've fell flat on their face with the policies
and laws and bills that they passed.
Speaker 2 (33:58):
Well and and and is there some sort of scandalous
behavior right did did you did you contribute heavily to
a particular politicians campaigns, right to their political action committees
things like that, And then if you're the leader of
that particular company that's getting favor, that's kind of I
(34:21):
mean scandalous for sure, you know, maybe even clearly it's
quid pro quo kind of an ethical But why does
that matter? Why do we talk about these things because.
Speaker 3 (34:31):
Because we care, We like to raise our blood pressure.
Speaker 2 (34:34):
We only care because how does it infect our client's money?
How does it infect your you know, your your overall
financial situation. Does it reduce an erode your buying power?
You know? Does it make investments i e. Stocks or
(34:55):
bond prices go down?
Speaker 3 (34:57):
You know?
Speaker 2 (34:57):
Does it make your overall wealth go down?
Speaker 3 (35:01):
Or are there opportunities created where you want to focus
some of the assets.
Speaker 2 (35:05):
Right, So that's why we pay attention to those things.
That's why we have to follow geopolitical events going on.
That's why we follow, you know, more than just the
financial side of managing your money. We've got to you know,
keep our keep our nose to the what's that saying,
keep your nose to the grindstone? Now, why would you
(35:25):
do that? Right? Keep your ear to the grindstone.
Speaker 3 (35:29):
I don't know, is that your five cents?
Speaker 2 (35:32):
Whatever that saying is, please give us a call to
let us know. But know the reality is is that
all these things manner matter, and you've got to be
paying attention to all of them. So, if you're managing
your money, yourself, and you're not paying attention to the
geopolitical things that are going on, to what interest rate
(35:53):
decisions are happening, what inflation and the data coming out
and the indicators are doing, what's happening at quarterly earnings timeframes.
You know, such as Nvidia, who certainly is a leader
on the text. All these things are what you need
to expect from your advisor, from your advisory firm, or
(36:17):
from yourself if you're managing your own investments. If you'd
like to see a better way of doing things, give
us a call at nine one six ninety six, seven
thirty five hundred. Keep listening to the Wise Money Guys
radio show. I'm your co host John Scambray, and I'm
here with my partner Giuseppe Vescani. And one of the
things we always like to discuss is just some of
(36:38):
the services and some of the things you can allocate
your portfolio two that we certainly like to allocate people's
portfolios two and that's the alternative sector or the alternative
category of investment. And so often I think people haven't
(37:00):
been exposed to different things from a diversification perspective that
have a much better chance at being negatively correlated to
stocks or bonds than just always having all your money
in either fixed income or equities. And we have really
(37:25):
benefited our clients from making sure a slice of the
pie is in alternatives, and man, it just helps smooth
out the risees. Well, it blows me away. How many
people who have, you know, hundreds of thousands and millions
of dollars and then they have basic like mutual funds
in their account. They don't have individual stocks, they don't
(37:48):
have a custom portfolio, they just have baskets and baskets
of different brand name mutual funds.
Speaker 3 (37:56):
With a new client that we just gained, he as
a portfolio that was about two million dollars in a
retirement account, and a big chunk of it he had
some individual fixed income or individual bonds, same thing, but
a big chunk of it was in funds. And you
know he didn't he didn't go through his statements with
a fine tooth comb, but you know, first glance we
(38:20):
pointed that out and said, you know, you have enough
money where you can create your own fund with individual
direct investment, because only you're paying a management fee for
that advisor. But then these etf some mutual funds that
you should have individual you know, direct investment like individual bonds.
Instead you're having it through funds. Then you have an
(38:42):
an internal expense ratio within that fund as well, on
top of the management fee that you're paying. And it
just doesn't really make sense.
Speaker 2 (38:48):
Yeah, and the fact that you really don't know what
you have and or how it correlates to you.
Speaker 3 (38:56):
Know, especially like in the year twenty twenty two.
Speaker 2 (39:00):
Oh, in twenty twenty two, everything had a perfect correlation. Yeah, well,
bonds went down and guess what didn't alternatives not all alternatives,
but some of the alternatives that we've used, yeah, did
knock it down. And so, you know, one of the
ones that I continue to like. And I think there's
just you know, again, take this information and either you know,
(39:22):
talk to your current advisor or firm about it, but
or call us. But but then I would think, gosh,
if these are things you're hearing about for the first time,
and you're the firm that you're with or the advisor
that you've been with, you know, didn't really call you
or let you know that there's other ways to make
(39:44):
good money on your money without just being in stocks
or bonds.
Speaker 3 (39:49):
Sometimes you don't have access to it, especially if you're
doing your own investments yourself and just a regular retail investor.
More times than not, you're gonna have limited access to
some of these alternative investments. Number One, then you know
there are financial advisors, and depending on the firm that
you work with, they'll have access to maybe a bigger
market of alternatives, but sometimes not as much. And really
(40:12):
the doors open really wide to this alternative space when
you're working with somebody that has an RIA registered investment
advisory firm like ourselves, because then it's just number one,
we're unbiased. So we have Schwab as our main custodian,
but we have other custodians that we use as well,
and we're talking with another one hopefully here pretty soon
(40:32):
we'll be able to unvel that we'll have another relationship.
But they all have different tools and different investments out there,
some that are in house, some that they have access
to to third parties out there. But number one, you
want to have a wider array, and you want to
have the option and the choice to be able to
put alternatis in there. And then if you do have
the choice, what are those choices. It's kind of like
(40:54):
a four to one K. Somebody says, hey, I have
a four and one K. Should I keep it in
a four one K I'm retiring or and leave it there?
Or do I roll it over in tenaira. The biggest
difference is with a four to one K you have
a narrow menu of options of just those ETFs some
mutual funds in there. When you roll it over to
an IRA, it just opens the floodgates of all the
(41:15):
other different investments out there that you can put into
your portfolio and customize an actual portfolio.
Speaker 2 (41:19):
Well, and to your point, the ability for us to
work with different custodians is huge, especially when it comes
to alternatives. You know, one of the biggest companies out
there of all Fidelity, we had and we have some
clients in Fidelity and where we're managing the money, and
it was a terrible experience and process to try to
(41:42):
put a suppressole structured. Well, what's simple to us, a
structured note that what that was uh custom made and
should have been something that easily allow us to put
in somebody's and they didn't have access.
Speaker 3 (41:57):
Not only that, but then they required a minimum of
one hundred thousand dollars in an account, which.
Speaker 2 (42:03):
Well, one hundred thousand in that particular note. That's what
I mean, right, not an account. Then people would think, oh,
you only have to have one hundred thousand dollars account. No, no, no,
it was one hundred thousand in that investment note.
Speaker 3 (42:16):
In that investment, in that structured investment. Yeah, and so,
and that was very surprising to us. Where you know,
when we're dealing with SWAB, it's nothing like that. It's
it's great support, it's great and so these are the
things that we're able to go through and say, just
as I said before, we're adding some new tools, some
(42:37):
technology applications to our firm. We get to pick and choose, right,
We also get to pick and choose who we're working with,
whether it's Fidelity or SWAB or so on and so forth,
and what works best for the business, what works best
for clients and gives the most amount of choice and autonomy.
That's what we're after, and the support on the backside
of this institutional side.
Speaker 2 (42:58):
And by the way, we're going to show you what
a structured note is at the workshop. They're really a
fantastic way to reduce risk but still have great potential
returns stock like or better return. Certainly, what the last
one we did was better than what the S and
P has averaged over the over the over the last
(43:22):
twenty years, which is eight nine percent. And this particular
one was a three year with a cube on a
yield of ten point eight five percent per year. So
we'll explain the nuances and how those work and what's
what's the risks. You know, what's what's how folio exactly
at our workshop. So please give us a call at
(43:46):
nine one six nine six seven thirty five hundred. If
you're retired or about to retire, and you have assets
that that you rely on for your income or for
your legacy, or to give to charity or whatever the
goals may be, you'll want to attend. It's going to
be at Wood Creek Golf Club from five thirty to
(44:09):
seven on March fourth, which is Wednesday, in Roseville, called
nine one six nine six to seven thirty five hundred. Well,
I hope you enjoyed listening to the Wise Mundy Guys
radio show. We always love talking, so please come back
next weekend and give us a listen and have a
wonderful Saturday.
Speaker 3 (44:28):
Have a great weekend. Hope to see you on Wednesday.
The Wise Money Guys radio show is brought to you
by One Source of Wealth Management SEC Licensed three one
nine zero seven eight. For disclosures and more information, and
visit our website One Source WM dot com.
Speaker 2 (00:13):
Hello and welcome to the Wise Money Guys radio Show.
I'm your co host John Scambray and I'm here with
my partner Jasethe Visconti, and we are certified portfolio Managers,
which means we are investment experts that specialize in helping
people who are retired were about to retire manage their money.
If you like our show and have any comments, questions,
(00:34):
or want to get together for a no obligation consultation,
give us a call at nine to one six nine
six seven thirty five hundred. For more information, you can
visit our website Wysemoneyguys dot com. You can scroll down
to the end of the page for disclosures. There's also
great content there. In fact, somebody recently told us that
they spent some time going through the resources that are
(00:59):
available on our website because there's different articles that we
get an attached to our website. There's videos, there's calculators, calculators,
and there's a chat functionality. If you just have some
basic questions before deciding to meet with us, you can
(01:19):
click on the chat and they can answer basic questions.
And then more importantly, we are having our first of
the year, and it seems like it seems like it
should already be like our second one, but it was
just the first one of these, yeah, because it's it's
it's March. But nevertheless, our first retirement Dinner workshop is
(01:43):
next week Wednesday, I guess that would be this week?
Is that this week? Always do this Saturday is still
this week, so it is it's next week and we're
starting a little bit earlier, five thirty to seven at
Wood Creek Golf Club again five thirty to seven and uh.
(02:04):
To get registered, you can do that a couple of ways. One,
you of course, can call and and just register with
Kathy by calling nine one six ninety sixty seven thirty
five hundred, or at our website Whysmoneynights dot com. There's
a tab up top that says workshops. If you just
(02:25):
click on that tab, then you can scroll and it
gives more information about what the content will be and
you can just fill out the the contact there that
is to RSVP, which will go to Kathy as well,
and then that gets you on the list to a tent.
(02:46):
By the way, we picked out some great food, I think,
so we're gonna fij you. There's also going to be
dessert in your typical refreshments. No how call though, but
if you want an alcohol you could buy it, but
UH call the soda water, sparkling water. And I forget
the food items, but I was like chicken pacada and yeah,
(03:10):
few different different.
Speaker 3 (03:11):
Items, different appetizers, things like that. So that's not why
you come.
Speaker 2 (03:16):
You come. That's where I'm going. That's why Juseppi's going.
But you know, if you're somebody who feels like you're underrepresented,
maybe you're you're you're wondering why you're not getting the
results and the value out of your investment portfolio, your plan,
or maybe it's just been a while since you've looked
(03:38):
at things or or heard from whoever UH is supposed
to be taking care of you.
Speaker 3 (03:44):
Maybe you've got too much going on in different silos.
We just met with a new prospect that's a new
client now and we and he gave us a file
and we had maybe like five different statements out there.
Oh at five different five six different accounts, and you know,
just too much to kind of track and manage, and
there was just basically everything was in its little own silo.
(04:06):
So you know what we're going to be doing is
is combining some of these accounts.
Speaker 2 (04:13):
Yeah, because there was multiple I rays at different firms,
all with multiple multiple accounts under the name of the trust,
which really no reason to have unless you have unless
you want to keep them separately.
Speaker 3 (04:25):
But then it's just hard to track. You know what,
what's one account doing versus the other account? Is one
account and the investments in that account complementing the other
investments in the other account, or are they duplicating it?
Do you have too much risk one and not enough
in the other, or too much risk in both. So
there's all these things, and it's basically we're helping to
simplify his life in the investment world organized. And then
(04:49):
not only that, but some of these accounts were smaller accounts,
but now they're combined together just give more scale exactly
for diversification, right, and different investments.
Speaker 2 (04:58):
And we spend a lot of time timealking about diversification,
not to get too much off on a tangent, but
the reality is is you're not benefiting from firm diversification.
And we see that a lot where people have again
as you as this new client, we just got you know,
accounts everywhere.
Speaker 3 (05:17):
And Stanley and then another kount of Schwab and another
account of.
Speaker 2 (05:20):
Finality or you know, so on and so forth, and
and often what you miss out on is true diversification
because we first of all specialize in building custom portfolios
primarily with individual stocks and bonds, some funds ETFs, especially
(05:41):
for the alternative or the hedging or the private cred
private debt, debt in side. But for the most part,
you know, the these these stocks, you know that could
be hundreds of dollars a share. If you've got a
bunch of small accounts, you really can't have a properly
diversified custom por portfolio designed specifically for your plan, your
(06:04):
plan goals if it's spread too thin.
Speaker 3 (06:07):
Well, and it's just hard to track, right, especially if
you're managing yourself. And then even if you're not managing yourself,
and then you say, oh, well, no, no, I have
an advisor at Morgan Stanley and they're managing one portfolio.
Have another advisor at Fidelity and they're managing another portfolio,
have another advisor over at wherever and they're managing that portfolio.
Do all those advisors managing those separate different portfolios get
(06:31):
on the phone and talk to each other and say, hey,
I'm trading this and rebalancing that way. You know, maybe
you want to compliment your portfolio to you know, adjust
with mine, and they don't. So still working in silos.
And you want most importantly, like we've talked multiple times,
having your assets align with your overall plan. Right, what
(06:51):
is your timeline, what are your financial goals? What's important
to you? How hard do these assets need to work
for you, whether whether it's for spending goals or you know,
things in the future in your term future that you're
going to either purchase or pay off or help family
out or plan for the unexpected. And so the plan
has to be the foundation and then the and then
(07:12):
that basically runs and directs where the assets should be
invested in how they should be invested, and then they
just work synergistically. And as time goes on and your
plans change or the market and economy changes, then you
make the necessary adjustments.
Speaker 2 (07:26):
By the way, if you're wondering why you should be
listening to us, or maybe you've tuned in for the
first time and never heard us on the radio or
on our YouTube channel or come to a seminar. Giuseppe
and I have been doing this for over fifty years combined.
And you know that in itself doesn't make you investment experts,
but our our skills that we have learned along the
(07:51):
ways that are battle tested, I like to say, and
the continued effort we put into making sure we're students
of However this industry, this this financial management, this financial
services industry changes. We spend a lot of time, effort
and money making sure that we have skills and resources
(08:15):
second to none, best tools, best tools, that it's.
Speaker 3 (08:21):
Well and we did we just added I mean this
year what we did is we're hiring, you know, additional staff.
We are We've implemented a couple we're spending money and
implementing a couple new software and technology tools on top
of it. And so we're just continuing to try to
build one. We want to have the most tools available
(08:43):
for our clients, uh, and then for ourselves on the
business side, just to run run efficiently, just to provide
the best experience that we can for the clients. And
the best part of it is is that we're we're
our own business. We don't we don't custody the fund ourselves.
We use the large asset managers out there and custodians.
(09:05):
Schwab is the main one that we use. But with
that we get to use Schwab's tools and then anything
that we feel that's lacking, then we add on on
top of that. And what we really provide for our
customers is unbiased truly, you know, business environment that's going
to be going towards your goal. So if we see that, hey,
(09:28):
this is what is needed for clients while we're meeting
with them and their needs and their plans and so
on and so forth, we can go out and get it.
We're not restricted.
Speaker 2 (09:35):
Yeah, you know, there's so much fear, I guess recently
over this whole AI trade. AI technology what we often
refer to as the Fourth Industrial Revolution, But the reality
is that we're years, if not decades away from where
(09:57):
humanity is just replaced. Do I think that humanity can
be replaced in a lot of aspects for you know,
certain skills, Yeah, But at the same time, you know,
the the robotic, the artificial intelligence, the machine learning, all
the things that are tied to AI, it will never
(10:20):
be able to replace empathy and carrying and understanding and
just being able to meet with a warm body. So
I think you know the scare that, oh geez, every
job is going to be replaced. I don't think so.
Maybe uh, you know, like Dee's from now, But at
(10:42):
the end of the day, no machine will ever care
about you know, your results, your experiences, your needs, and
as jo Seppi said, the tools that we're employing and
investing in to make sure you know our our service,
everything that you know. Whether you're manning managing hundreds of
(11:04):
millions like us or billions, you know, you're not going
to find yourself lacking for the resources that we have
because we manage hundreds of millions versus billions. So when
we come back, we're going to talk about some things,
some current events happening, give you some ideas on strategy
(11:26):
and things that we're doing right now, and again keep
inviting you to the seminar, the Dinner Seminar for Retirees
on the fourth Wise Mandy Guys Radio Show. I'm your
co host John Scambran. I'm here with my partner Josette Vascani,
and we're going to talk a little bit about the
things that are going on and one of the biggest
that Jesus just as crazy every quarter. You know, I
(11:48):
was mentioning AI and machine learning and artificial intelligence and
all those things that are making the Fourth Industrial Revolution
become a reality, and none bigger than Nvidia. I think
in Vidia has gotten stale quite frankly, because what stale?
Speaker 3 (12:10):
What? What?
Speaker 2 (12:11):
Well? They just crushed earning, right, and what do the
stock do? One down exactly because people are over it.
They're over the AI chip trade, they're definitely over the software. Well,
it could be just trade, it.
Speaker 3 (12:25):
Could be just chasing because there's just been a rotation
out of some of those tech stocks and going into
other sectors. And maybe they're continuing and there's some profit taking,
but we'll probably see it dip down and then come
back up. I mean, if anybody's a leader, I mean,
they're it. And as long as they continue to produce earnings,
I mean, it's continue to provide a runway for them
(12:46):
to stay at elevated levels.
Speaker 2 (12:47):
My concern is is does this revenue become a you know,
a circular scheme and.
Speaker 3 (12:55):
The investment part of it.
Speaker 2 (12:56):
Yeah, the investment part of it, because how many companies
are out there that can keep just going, Oh, we're
investing in AI infrastructure, and we need billions of dollars
worth of you know, AI chips, And how how is
it sustainable, you know, for a company like Nvidia to
(13:16):
keep generating revenue you know, in the tens of billions
of dollars per quarter. I mean, there's just there's only
a finite number of companies that have scale to buy
you know, Nvidia chips for you know, various applications, whether
whether it's data storage or or some other sort of
(13:40):
of need.
Speaker 3 (13:40):
I mean, well, I think a couple of things would be,
you know, what the capability of the chip is, and
then how long its lifespan is before the new chip
that is greater and faster and better that then those
companies within the industry now need and need to upgrade, right.
And I think right now it's just a big boom
(14:02):
because everybody's just trying to get established with this whole
AI thing, and they're trying to play either catch up
or lead the game, right, And it's countries, it's not
just businesses in the US, but it's countries around the
world trying to go after this AI race. It was
kind of like the space race is kind of how
I feel it.
Speaker 2 (14:21):
That is what I think slows down at some point,
you know, and at the other time of hit peak.
Speaker 3 (14:26):
Well and at the other point, what is the peak is?
I guess that's the question. And we're not I'm not
an engineer, but if you look at the trajectory of
AI and its exponential growth of capabilities, I mean, that
thing just continues to go up like a rocket ship. Right,
It's not this slow, slightly curve.
Speaker 2 (14:47):
A high single digit or a or a low double
digit growth trajectory exponential. It'sdiculous.
Speaker 3 (14:53):
What what AI and ll M, you know, machines and
machine learning was able to do six months ago, a
year ago is obsolete in comparison to what it can
do right now. So how how long is that runway?
How long is that runway where until it gets to
a point where it's maybe a lot of diminishing returns,
And then at that point it's like, okay, well, then
(15:15):
we've upgraded our chips to a certain point. You gotta
like our laptops, right, we get computers? Oh yeah, I mean,
how immundated. That was the Murphy's law or something of
that nature. Remember that it was the rate of transactions
or no, no, no, no, It was how many transistors could
fit on a silicon wafer and that and that was
(15:39):
like doubling and tripling like every month or every quarter
or of every year. And now they've gone to you know,
how many instructions per second? Basically can it?
Speaker 2 (15:50):
Can it? Ai Chip do? Which is in the you
know billions actually, which was just hard to fathom. But
here's my two cents and it and it kind of
goes to just an overall theme.
Speaker 3 (16:04):
I don't make pennies anymore.
Speaker 2 (16:07):
Pennies cost a nickel to make. Here's my five cents,
which costs you know, seven cents to make. The reality
is is that, you know, our philosophy and our management
style for our clients, especially our retired clients, is to
take some profit off the table, right, And I think
that's what your point, that's what's happening. I mean, does
(16:30):
Nvidia go to two hundred and fifty dollars? Like uh,
several analysts that we were reading this morning have have
increased their price target to maybe. But if you've already
made you know, double digit or even triple digit returns
on the Nvidia trade in your portfolio. You know, I'm
saying get out of it one hundred percent, but my
(16:53):
five cents would be too trim the position, and we
have done that, yet I'm gonna stick to the five
cents because you're right, inflation, inflation, you can't you can't
do two cents anymore. It's five cents. So but but
that's that's where we're at, right. I mean, there's other investments,
other things that haven't run that could potentially have more
(17:17):
upside than Nvidia.
Speaker 3 (17:19):
Well, and we've been seeing that this, you know, for
the past few months, right, And that's what that rotation
has been is stocks of other sectors, right, not these
big Max seven names. They haven't been the shining star.
It's the rest of the four hundred and ninety three
stocks within the S and P five hundred, right, not
the Max Magnificent seven. And I think that's where you're
(17:40):
seeing maybe some of this sell off and some profit
taking and then spreading it out into other sectors of
the market as well as some other areas of the
globe because they've they've had a good run up as well,
and they've continued to run up.
Speaker 2 (17:52):
So you know, which stock I think is still an
interesting story. As far as the fourth you know, the
fourth kind just movie that's a scary movie about you know,
uh aliens inductions Yah, which junctions by aliens.
Speaker 3 (18:07):
Which Trump was supposed to release.
Speaker 2 (18:09):
Yeah, he's going to he said he's going to release,
is going to release more info and all that stuff exactly.
But but I think the one that has still out
of the mag seven By the way, I.
Speaker 3 (18:23):
Thought you were going to go to your sponsored come
to the front line. I'm not gonna.
Speaker 2 (18:28):
I do love energy, and I won't lie. I think
the energy sector is, you know, everything begins and ends
with energy, always has, at least for the foreseeable future.
It will maybe it won't always be oil or coal
or nuclear AI, but eventual recording. Right, that's where it
is right now, for at least the next decade or
(18:48):
until some sort of breakthroughs in in battery storage, solar
renewable other than nuclear. You know, maybe it's the cold
fission or the hydrogen play is actually you know a
lot of what future futurists think is the future of
energy because it's it's reoccurring it's abundant, it's it's affordable,
(19:14):
and they're becoming a lot more efficient at turning hydrogen
into electricity with a byproduct of the water. I mean,
think of that, right, So that's neither here nor there.
But where I was going is I think the Tesla
story is still interesting, not because of electric vehicles, but
because of SpaceX. And I think if SpaceX, you know,
(19:38):
there's been a lot of information out there, a lot
of conversations, a lot of talk from Elon Musk that
he's considering either making SpaceX part of Tesla or SpaceX
going public on its own, so on and so forth.
But I think there's a lot of potential and only that.
Speaker 3 (20:00):
But he's got SpaceX, he's got Starlink, he's got Neurlink,
he's got now robotics. Yep.
Speaker 2 (20:07):
Right, he of course has still X and so on
and so forth. But by the way, we can get
clients who are interested. Now, that's a very speculative aggressive
you know, investment and aggressive. In case you haven't heard
or figured this out from when your advisor says aggressive,
it means that on the risk return scale, it's a
(20:30):
higher risk for a potential return, and that ratio is
how we nicely call it either aggressive or moderate or conservative.
Speaker 3 (20:40):
Typically you're more concentrated in stocks exactly.
Speaker 2 (20:46):
So by the way we have and can get for
our clients minimum twenty five thousand dollars investment into your
portfolio that will be tied and has some exposure, have
some exposure to Space plus Anthropic plus some other big
eiaes are private. And so if you're interested in SpaceX
(21:09):
and and and getting that into your portfolio again, that
wouldn't be the only reason why you would give us
a call, but it's certainly a one two. Potentially discuss
your overall makeup of your portfolio and how it's allocated,
and get a free review and consultation out of us
and more information on how you could potentially get SpaceX
(21:32):
in your portfolio. That's certainly a way to do it,
and you would do that by calling nine six seven,
five hundred and since this is the last weekend before
next our seminar, i'll mention it one more time before
we go to break our first of the year dinner
workshop where we show people exactly how we manage money,
(21:57):
what our philosophy is. You know, what some of our
guiding principles are more importantly, what are some of the
investments that our clients hold, What are some of the
portfolios that we've custom made that our clients hold, and
how they're doing, what are some specific investments.
Speaker 3 (22:16):
Well, views on economy and the markets and where we
are right now, where have we been, kind of where
we're going, and how it ties in together and then
hopefully enlightens you to give us a little bit more
time to have a conversation of your situation specifically and
then tied all together.
Speaker 2 (22:34):
Yeah, Actually, that's mainly what you get out of it
is just a real good overview, and most people walk
away thinking it was a very good use of their time.
They learned a lot. And how do we know that
because of the comment responses, the survey responses that we get.
(22:55):
And that's that's all we ask. Actually, the ticket for
coming and getting a great meal and getting a great
education on the way we do things and some of
the opportunities that are certainly out there. We just asked
that you just fill out a comment card so again
called nine one six nine six seven thirty five hundred
to register for our March fourth Dinner workshop at Wood
(23:18):
Creek Golf Club from five thirty to seven. You should
be contemplating retirement or or retired, and you should have
you know, investments that that are important to your financial life.
And I got a question for you, what did you
think of the state of the Union.
Speaker 3 (23:37):
I actually didn't catch it, but then I sat down
and luckily they had a rerun, so I watched most
of it.
Speaker 2 (23:44):
Oh week, it's been the hot topic.
Speaker 3 (23:47):
On Yeah, I think it was. I think it was.
I think it was. He made a lot of good
points going, you know, speaking of AI.
Speaker 2 (23:55):
I think we got a little market lift out of
it too, if you look right like right after it,
you know, market had a good day, then a little
bit of a down day, then then a really good
day and now a little bit of a down day
to finish out the week.
Speaker 3 (24:10):
And yeah, Mark has been pretty resilient overall, especially after
the full terror situation you know, last week and then
just the unrest in Iran. So I thought, I thought
we were going to open up Monday with a bigger
gap down in the market, you know, and we were
down a little bit, but nothing like I thought. But overall, yeah,
(24:32):
I think he made a lot of good points, you know,
the democratic side, we actually had them standing up a
few times.
Speaker 2 (24:39):
How do they not how do you not forget? Forget
what side?
Speaker 3 (24:43):
I don't even try to rationalize, right, don't even try.
Speaker 2 (24:45):
And for like those poor people who lost, they didn't
stand for that woman who the I mean some of
them did, most didn't. The the lady whose daughter was
stabbed on the train, and most of them didn't stand
because it was a it was an illegal person, an
(25:05):
I llegal alien who the girl she was getting coming
home from working at a pizza place, takes the train
and just got up from behind her and stabbed her
to death. And they didn't. They didn't stand for that woman.
They didn't stand that with the mother. And just that's
that's the only thing I don't understand about it. I
(25:27):
get that if if it's not your president, I mean,
he's certainly our president, and and I just whether he's
what I mean is did you vote for him or
not vote for him? I mean? And and the reality
is is I think you know, if you're looking at
various presidents, which ones are good for you know, our
(25:50):
wealth and well being and protection, and and which are bad?
I think this one, you know, like him, hate him,
But you can't ignore that you know, he pro taking
care of people from a prosperity certainly from a prosperity perspective,
(26:10):
you know, we want.
Speaker 3 (26:11):
Yeah, he's done a lot of He's got a lot
of good ideas and a lot of good things. I
mean he's not He's not perfect.
Speaker 2 (26:17):
Nobody is.
Speaker 3 (26:18):
Yeah, some of the things he's come up with, I'm like,
that doesn't make sense. I'm not sure why he even
does that, but like, well, I mean he just is
fueled to the fire on some of the things in
rhetoric that you know of him speaking. But that attracts
to some people because he's like, oh, he's just down
to earth and says what he says what he feels.
He's not trying to cover up. I'm definitely not for
(26:39):
the government, and you know, intertwining with private investment like
investing in Intel and things like that. Nature but going
on that whole AI kick, and I like how he
is trying to have it where these tech companies can
go and produce their own power plants, so then it's
not going to impact right, the US the residence. So
(27:00):
things like that is great, right, some of those ideas
are great because then it's not you know if it
can if they're taking the brunt of it, and then
it's not going to be spreading to the rest of
US residents. Whatever that's going to be to have to
pay a higher.
Speaker 2 (27:15):
I think in in in argument or in contrast, like
you said, we're investing in Intel. Don't forget in two
thousand and eight we bought basically Wells Fargo. You did
it for you. But my point is is, I.
Speaker 3 (27:35):
Well, I'm not saying I'm not saying I'm not pointing
to Trump. I don't care who it is. It's it's
creating a moral hazard. It's creating an environment exactly what's
happening where the market just continues to go up and
when when stuff goes wrong and there's there's cracks in
the financial system because of either bad management or lack
(27:56):
of innovation or whatever the case may be, by a
private company, right, they shouldn't be build out right because
then because then it's like, well, that's.
Speaker 2 (28:05):
Why we have forty trillion dollars about to have forty
dollars because.
Speaker 3 (28:10):
Exactly it's like the banking crist little mini banking crises
we had in twenty twenty three, yep, with Silicon Valley Bank,
and signature bank, and then it filtered on it spread
onto a first national Republic, right, and they and they,
they stepped in and covered the depositors. I mean, great
for the depositors, But what message does that I mean,
(28:33):
And they weren't that big of a bank, So what
message does that play to the rest of the banks
out there? Hey, we could take a little bit of
risks because we're we're as big or larger. Yeah, then
these banks that they build out and you know, let's
take the risks because we could probably make money for
a couple of years if we leverage up a little
bit or whatever.
Speaker 2 (28:51):
Yeah, it certainly doesn't make you cautious if you feel
like there's a backstop to any bad decision.
Speaker 3 (28:58):
Yeah.
Speaker 2 (28:58):
But nevertheless, I thought it was good overall. I thought
that the market responded positively.
Speaker 3 (29:04):
Overall, as long as you thought it was going.
Speaker 2 (29:06):
To be Yeah, I knew it was going to be long.
I knew it was going to be two hours. The
lost one was like an hour and a half or
an hour and forty. Yes, And there's quite frankly, a
lot to talk about. And I also, like, you know,
recognizing are our older heroes, and so that was awesome.
I thought that was inspirational. And just giving the Congressional
(29:30):
Medal of Honor to the one hundred year old World
War Two you know, uh ace pilot and just a lot.
Speaker 3 (29:38):
Of neat was it.
Speaker 2 (29:39):
The coast guard got something well, and the helicopter guy
who got the Congressional Medal of Honor he was shot
and still landed.
Speaker 3 (29:51):
Venezuela.
Speaker 2 (29:52):
I mean, unbelievable. And that's what I don't understand is
how just forget it, forget politics. How do you just
not you know, get inspired and and stand up for
that there's people out there.
Speaker 3 (30:04):
Well I think they did stand up for some of.
Speaker 2 (30:06):
The helping other people, protecting other people, protecting our way alife,
putting their own life in jeopardy. And how how that
just doesn't you know, inspire you is beyond me. But yeah,
there was there was partial.
Speaker 3 (30:22):
Standing, but I was surprised how much they stood up
in comparison to the last one. It was zero st
You know why it was zero standing.
Speaker 2 (30:29):
Up because seventy three Democratic yeah, Democrat congressmen weren't there.
They were they were doing some weird puppet thing. They
were in frog costumes and yeah, they'd had like a
it was called like drain the swamp thing, so they
(30:50):
they didn't go to the state. Yeah, they were in
frog costumes and other kind of costumes. And it just
shows that's who you want representing you in your state,
in your district.
Speaker 3 (31:01):
That's your that's your job. That's your job. And I see,
I see the City of the Union as like a
regional meeting that you would go to your performance meeting. Know, yeah,
I mean, but this is this is the thing with
with politicians, and that's different that that's the difference between
a life in politics and public sector sometimes and I'm
(31:24):
not saying public sector like all, but specifically the politicians
versus private sector, right, And that's where I don't that's
where I don't like the government to bleed into the
private sector because look if the if you do something
and you mess up because of mismanagement, fraud, uh, you
say one thing and do another thing whatever, guess what
(31:45):
your business is done. You have to close your doors.
You are accountable, that's it. But not in a politician's life.
You can pass laws, bills, policy guidelines flat on their face,
waste millions or billions of dollars, and they still are
in office and they still get to walk in and
(32:07):
wear a suit and go talk to everybody on the TV,
and so on and so forth. Four years, eight years,
a decade, two decades, right, and only that when I
did love the most about the what he said was
no more basically insider trading. Yeah, I love that. And
because because look all of their salaries, all of their
(32:28):
salaries are public. You can look any one of them up.
So for example, Gavin Newsome, you can look up his
salary and I think it's like two hundred and forty
seven or two seventy four, maybe I have it backwards.
It's less than three hundred thousand dollars a year. Yeah,
I think about a nine point one million dollar home
in Morin last year. How does that happen? Yeah?
Speaker 2 (32:43):
And he still has a five million dollar home in
sacrament Yeah.
Speaker 3 (32:46):
And there's and we're just pointing. I'm just pointing one
because we live in California and we can't, we can't
not pay attention to our own governor. But there's people
on both sides, Republican and Democrat. They should just be fired, essentially.
And because if we did anything like that in our industry,
oh my gosh, we'd be sec would come down on.
Speaker 2 (33:07):
So hard it really makes no sense. Are you there
to actually make your states, your district better or or
are you there for personal benefit? And I think to
your point, most you know, politicians have gotten to the
point to where they're there for their personal benefits and
their power. Their need for power and and and greed
(33:31):
is certainly the big driver.
Speaker 3 (33:33):
Well that's why that's why you know, investment in Intel,
or investment in this company, or saving that bank or
saving that bank. That's why it's not a great idea,
because then it's almost the same thing. It's it creates
almost the same situation where now you can have this
politician they're in office for so long or get another term,
(33:53):
and they've fell flat on their face with the policies
and laws and bills that they passed.
Speaker 2 (33:58):
Well and and and is there some sort of scandalous
behavior right did did you did you contribute heavily to
a particular politicians campaigns, right to their political action committees
things like that, And then if you're the leader of
that particular company that's getting favor, that's kind of I
(34:21):
mean scandalous for sure, you know, maybe even clearly it's
quid pro quo kind of an ethical But why does
that matter? Why do we talk about these things because.
Speaker 3 (34:31):
Because we care, We like to raise our blood pressure.
Speaker 2 (34:34):
We only care because how does it infect our client's money?
How does it infect your you know, your your overall
financial situation. Does it reduce an erode your buying power?
You know? Does it make investments i e. Stocks or
(34:55):
bond prices go down?
Speaker 3 (34:57):
You know?
Speaker 2 (34:57):
Does it make your overall wealth go down?
Speaker 3 (35:01):
Or are there opportunities created where you want to focus
some of the assets.
Speaker 2 (35:05):
Right, So that's why we pay attention to those things.
That's why we have to follow geopolitical events going on.
That's why we follow, you know, more than just the
financial side of managing your money. We've got to you know,
keep our keep our nose to the what's that saying,
keep your nose to the grindstone? Now, why would you
(35:25):
do that? Right? Keep your ear to the grindstone.
Speaker 3 (35:29):
I don't know, is that your five cents?
Speaker 2 (35:32):
Whatever that saying is, please give us a call to
let us know. But know the reality is is that
all these things manner matter, and you've got to be
paying attention to all of them. So, if you're managing
your money, yourself, and you're not paying attention to the
geopolitical things that are going on, to what interest rate
(35:53):
decisions are happening, what inflation and the data coming out
and the indicators are doing, what's happening at quarterly earnings timeframes.
You know, such as Nvidia, who certainly is a leader
on the text. All these things are what you need
to expect from your advisor, from your advisory firm, or
(36:17):
from yourself if you're managing your own investments. If you'd
like to see a better way of doing things, give
us a call at nine one six ninety six, seven
thirty five hundred. Keep listening to the Wise Money Guys
radio show. I'm your co host John Scambray, and I'm
here with my partner Giuseppe Vescani. And one of the
things we always like to discuss is just some of
(36:38):
the services and some of the things you can allocate
your portfolio two that we certainly like to allocate people's
portfolios two and that's the alternative sector or the alternative
category of investment. And so often I think people haven't
(37:00):
been exposed to different things from a diversification perspective that
have a much better chance at being negatively correlated to
stocks or bonds than just always having all your money
in either fixed income or equities. And we have really
(37:25):
benefited our clients from making sure a slice of the
pie is in alternatives, and man, it just helps smooth
out the risees. Well, it blows me away. How many
people who have, you know, hundreds of thousands and millions
of dollars and then they have basic like mutual funds
in their account. They don't have individual stocks, they don't
(37:48):
have a custom portfolio, they just have baskets and baskets
of different brand name mutual funds.
Speaker 3 (37:56):
With a new client that we just gained, he as
a portfolio that was about two million dollars in a
retirement account, and a big chunk of it he had
some individual fixed income or individual bonds, same thing, but
a big chunk of it was in funds. And you
know he didn't he didn't go through his statements with
a fine tooth comb, but you know, first glance we
(38:20):
pointed that out and said, you know, you have enough
money where you can create your own fund with individual
direct investment, because only you're paying a management fee for
that advisor. But then these etf some mutual funds that
you should have individual you know, direct investment like individual bonds.
Instead you're having it through funds. Then you have an
(38:42):
an internal expense ratio within that fund as well, on
top of the management fee that you're paying. And it
just doesn't really make sense.
Speaker 2 (38:48):
Yeah, and the fact that you really don't know what
you have and or how it correlates to you.
Speaker 3 (38:56):
Know, especially like in the year twenty twenty two.
Speaker 2 (39:00):
Oh, in twenty twenty two, everything had a perfect correlation. Yeah, well,
bonds went down and guess what didn't alternatives not all alternatives,
but some of the alternatives that we've used, yeah, did
knock it down. And so, you know, one of the
ones that I continue to like. And I think there's
just you know, again, take this information and either you know,
(39:22):
talk to your current advisor or firm about it, but
or call us. But but then I would think, gosh,
if these are things you're hearing about for the first time,
and you're the firm that you're with or the advisor
that you've been with, you know, didn't really call you
or let you know that there's other ways to make
(39:44):
good money on your money without just being in stocks
or bonds.
Speaker 3 (39:49):
Sometimes you don't have access to it, especially if you're
doing your own investments yourself and just a regular retail investor.
More times than not, you're gonna have limited access to
some of these alternative investments. Number One, then you know
there are financial advisors, and depending on the firm that
you work with, they'll have access to maybe a bigger
market of alternatives, but sometimes not as much. And really
(40:12):
the doors open really wide to this alternative space when
you're working with somebody that has an RIA registered investment
advisory firm like ourselves, because then it's just number one,
we're unbiased. So we have Schwab as our main custodian,
but we have other custodians that we use as well,
and we're talking with another one hopefully here pretty soon
(40:32):
we'll be able to unvel that we'll have another relationship.
But they all have different tools and different investments out there,
some that are in house, some that they have access
to to third parties out there. But number one, you
want to have a wider array, and you want to
have the option and the choice to be able to
put alternatis in there. And then if you do have
the choice, what are those choices. It's kind of like
(40:54):
a four to one K. Somebody says, hey, I have
a four and one K. Should I keep it in
a four one K I'm retiring or and leave it there?
Or do I roll it over in tenaira. The biggest
difference is with a four to one K you have
a narrow menu of options of just those ETFs some
mutual funds in there. When you roll it over to
an IRA, it just opens the floodgates of all the
(41:15):
other different investments out there that you can put into
your portfolio and customize an actual portfolio.
Speaker 2 (41:19):
Well, and to your point, the ability for us to
work with different custodians is huge, especially when it comes
to alternatives. You know, one of the biggest companies out
there of all Fidelity, we had and we have some
clients in Fidelity and where we're managing the money, and
it was a terrible experience and process to try to
(41:42):
put a suppressole structured. Well, what's simple to us, a
structured note that what that was uh custom made and
should have been something that easily allow us to put
in somebody's and they didn't have access.
Speaker 3 (41:57):
Not only that, but then they required a minimum of
one hundred thousand dollars in an account, which.
Speaker 2 (42:03):
Well, one hundred thousand in that particular note. That's what
I mean, right, not an account. Then people would think, oh,
you only have to have one hundred thousand dollars account. No, no, no,
it was one hundred thousand in that investment note.
Speaker 3 (42:16):
In that investment, in that structured investment. Yeah, and so,
and that was very surprising to us. Where you know,
when we're dealing with SWAB, it's nothing like that. It's
it's great support, it's great and so these are the
things that we're able to go through and say, just
as I said before, we're adding some new tools, some
(42:37):
technology applications to our firm. We get to pick and choose, right,
We also get to pick and choose who we're working with,
whether it's Fidelity or SWAB or so on and so forth,
and what works best for the business, what works best
for clients and gives the most amount of choice and autonomy.
That's what we're after, and the support on the backside
of this institutional side.
Speaker 2 (42:58):
And by the way, we're going to show you what
a structured note is at the workshop. They're really a
fantastic way to reduce risk but still have great potential
returns stock like or better return. Certainly, what the last
one we did was better than what the S and
P has averaged over the over the over the last
(43:22):
twenty years, which is eight nine percent. And this particular
one was a three year with a cube on a
yield of ten point eight five percent per year. So
we'll explain the nuances and how those work and what's
what's the risks. You know, what's what's how folio exactly
at our workshop. So please give us a call at
(43:46):
nine one six nine six seven thirty five hundred. If
you're retired or about to retire, and you have assets
that that you rely on for your income or for
your legacy, or to give to charity or whatever the
goals may be, you'll want to attend. It's going to
be at Wood Creek Golf Club from five thirty to
(44:09):
seven on March fourth, which is Wednesday, in Roseville, called
nine one six nine six to seven thirty five hundred. Well,
I hope you enjoyed listening to the Wise Mundy Guys
radio show. We always love talking, so please come back
next weekend and give us a listen and have a
wonderful Saturday.
Speaker 3 (44:28):
Have a great weekend. Hope to see you on Wednesday.
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