Richard Rosso, Certified Financial Planner Joins Houston Morning News

Episode Transcript

Speaker 1 (00:00):
Folks at market watch say, who's going to win the
presidential election? The stock market has a prediction. Their prediction
is a sixty four percent chance that Kamala Harris becomes
prests of the United States because Wall Street is doing well,
and when the party in power or the administration in power,
when this market is doing well, when the election comes up,

(00:23):
they generally are the ones they get elected. Richard rosso
joins us a certified financial planner. I know you put
a whole lot more into into it than that, at
least I hope you do. What do you make of that?

Speaker 2 (00:35):
Real story?

Speaker 1 (00:36):
It is? It really is? What do you make of that?
I mean, I can understand if everything is going really well,
then yeah, the party empower generally is going to win
re election. But everything is not going really well well.

Speaker 2 (00:50):
The Wall Street economy the main street economy are very
different things. When you go into the Wall Street economy,
you're going into a tunnel that most people are not
familiar with driving through. So it's a very different animal.
So poly Markets, it's a cryptocurrency site, also believes that
Kamala will take the election over Trump. But here's what

(01:14):
matters most to markets. It matters most to markets that
you have a fixed situation, I mean more of a
diversified situation. In other words, say Kamala wins. If Congress
remains in gridlock, then the markets will love it. Markets
do not like if it's all Democrat all Republicans. So

(01:34):
what you gotta hope is that you know, even though
you may not like who is for president, that the
market looks at the gridlock situation. But I will tell
you both a lot of industries are worried about both.
Both have talked about tariffs. That's an issue that concerns
markets right, lowering taxes which is great for business, but

(01:55):
also in some cases could be inflationary. So I take
all these kinds of things frankly, with a grain of salt,
and these are all done before the UH, before RFK
came into the picture. So my thought is it's still
early and you can't really invest based on these kinds
of things. You know, you dig deeper. Election years are

(02:16):
really great for markets generally speaking, But frankly, I don't
think the market does a very good job at predicting
who's going to win the presidents.

Speaker 3 (02:24):
Well, Wall Street has done very well it enriching itself.
I mean in the banks they manage, you know, so
they would necessarily really be rooting and therefore betting and
hedging themselves on a continuation of the people who made
them filthy rich. So I mean I get that. And
how much is this predictive and how much of this causative?

(02:47):
You know, they're putting out these polls say, oh, the
marcuts do is so well, you know, give me a break.
It's not what anybody's living.

Speaker 2 (02:55):
Exactly, and the predictive part of it is very iffy
sign and if any science at all. So what people
do is they read stuff like this and they get
discouraged or they get scared, and you really just have
to bypass it. I mean, I would tell you the
same thing even if Trump was leading in these polls.
It doesn't matter. I mean, it's eventually going to show
that if the combination results in gridlock, which it does

(03:21):
look like at this point, then the markets will love it.
So you've got to remember how you feel about things
in the real world and how the market feels about things.
It's almost like you need two separate brains and you
need to shut one off and turn one on. So
don't go ahead and make a change or make any
kind of portfolio moves based on these kinds of things,
because it's going to change in another month. You might

(03:42):
be calling me and say, hey, look Trump is now leading.
These things are going to bounce back and forth, and
you don't want to do that with you money.

Speaker 3 (03:50):
Well, the short sellers win either way.

Speaker 1 (03:54):
Well, there's always yeah, there's always winners, all right, Richard Rosso,
thank you, always appreciated. Survey financial planner riche Rosso, seven
twenty seven