Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
All right, that's promised. Now let's talk a little bit
about what's happening on Wall Street and what we can
expect going forward. Richard Rosso is a certified financial planner. Richard,
good morning, How are you?
Speaker 2 (00:09):
Hey? Good morning, Bob?
Speaker 1 (00:10):
How are you? I'm doing well, thank you. So then again,
I've got most of my retirement in fixed indextinuities, so
I don't have to worry too much about what's happening
on the on the in the market right now. Yeah,
I'm doing okay in that regard, but a lot of
people are not, obviously, and there's there's a lot of concern.
The volatility this week, of course, is centered on what
(00:30):
kind of an impact the tariffs are going to have.
Speaker 2 (00:32):
What do you read?
Speaker 1 (00:32):
What does your read right now?
Speaker 3 (00:33):
Richard, Well, listener, isn't it you just next mentioned something
you said fixed?
Speaker 2 (00:39):
So keep this in mind. The Times are the Time.
Speaker 3 (00:43):
Article that you're referencing is a bombastic scare tactic.
Speaker 2 (00:47):
It's it's a political spin, and.
Speaker 3 (00:50):
What investors have to do is be careful of being
brought into some of the worst headlines I have seen
in a long time, which elevates fear at levels I
haven't seen since maybe the market was down twenty percent,
And if you keep this in perspective, the SMP is down.
Speaker 2 (01:05):
About four point eight percent.
Speaker 3 (01:07):
If you own bonds and you're well balanced, you're pretty
much flat for the year, which is a big difference
in what you're hearing out in main street media that
the whole world is falling apart.
Speaker 2 (01:18):
That's absolutely not the case.
Speaker 3 (01:20):
So you have to keep your perspective and sort of
really look at what is the personality your portfolio based
on what you're hearing. If you've got all your money
in these high flyers, listen, if you're a money manager
like we are, we were trimming all.
Speaker 2 (01:32):
That out last year.
Speaker 3 (01:33):
There was so much euphoria over AI and so forth.
It's only a matter of time before money drains out
of that. But if you own what we call value stocks,
if you own food and beverage, utilities, healthcare, you've held
up pretty well.
Speaker 2 (01:47):
That index is flat this year, but even the S
and P itself is down four point eight percent, and
you would think that the whole world.
Speaker 3 (01:55):
Is coming to an end based on main street headlines,
and that's really unjust and unfair to investor.
Speaker 1 (02:00):
Is the reason they're doing that Richard, because they expect
that the tariff wars are going to last longer, you know,
trade wars if you will, because I think most people
that I talk to anyway say that we are well
much better positioned as a country to handle a trade
war than other countries are. And it's going to make
them buckle a lot more a lot more quickly than
people realize. So are they thinking this is going to
(02:20):
be a long term issue.
Speaker 2 (02:23):
Well, here's the thing.
Speaker 3 (02:24):
The biggest issue we've had is the economy started slowing
down last year last quarter, the fourth quarter of the year.
Speaker 2 (02:32):
Why stimulus is draining.
Speaker 3 (02:34):
This has been a government driven economy since the FED
started to take over the market after the financial crisis.
Now you're going through this detoxification or Scott Bessen calls reprivatization,
which is causing some you know ilk to the market.
Because Marcus don't care about red or blue, they care
about green. So if there's less stimulus, no matter how
bad the money is spent, the.
Speaker 2 (02:55):
Markets love it. With the tariffs.
Speaker 3 (02:57):
Tariffs are not inflationary, it's the it's the going back
and forth. I think that unnerves markets more than anything else.
And broadcasting it it makes it look like we don't
have a strategy and we're just flying.
Speaker 2 (03:10):
By the seat of our pants as supposed to say.
Speaker 3 (03:13):
President Trunk comes up with with the with the tariffs,
and he doesn't change anything. This is what we're gonna
do and not the next day change is mine. I
think markets can work properly in that in that space,
but keep in mind the fire of a market downturn,
the fire of slow economic growth has already started. This
tariff talk talk adds gasoline to that fire that we're
(03:34):
seeing right now, but even a pretty small fire.
Speaker 1 (03:38):
Yeah, and that's that's well said and well received. What
about the inflation report yesterday? How much does that impact
the futures?
Speaker 2 (03:46):
It helps, it helps, it's coming down. It's been stubborn.
Speaker 3 (03:50):
Okay, it's been stubborn since pandemic. We're at the I
follow a different type of CPI. It's the trim means CPI.
It gets all the outliers out. You're at about two
point three percent going forward. That's close to the FED
target of two percent, which is perfectly fine. But what
people are more concerned about is when they go to
the store, their prices are still.
Speaker 2 (04:10):
Litivated, elevated.
Speaker 3 (04:11):
Although we have seen egg prices come down and some
other commodities come down. So here's what's going to happen.
If there are tariffs on goods, people are not going
to buy. Consumers are tapped out, they're just going to
substitute goods. And what the market's more worried about with terrorists,
it's not inflation. It's that companies are going to have
to eat those increases. I listen to a Walmart conference call.
(04:34):
There is no room to raise prices. People do not
have the ability to pay. So therefore, that's what we're
seeing right now. We're seeing a situation where markets have
to reprice in the fact that consumer demand might cool
off and that margins that have been really good for.
Speaker 2 (04:49):
Companies are going to come down. But think about this, Bob.
Speaker 3 (04:53):
If you're in a longer term environment and you have
a balanced portfolio and what you're hearing, you would maybe
want to look at your portfolio and thick and you're
probably down like twenty percent, and when you look at it,
you're probably.
Speaker 2 (05:03):
Flat or down slightly through the ear.
Speaker 3 (05:05):
That's a big difference than what you're hearing out there
on main street media.
Speaker 2 (05:09):
And if you have an advisor, your advisor should.
Speaker 3 (05:12):
Be level headed, just looking at the data, no political
spend and helping you make the right decisions without hearing
and reading all these articles that I see that look
like the financial next coming of the financial crisis, which
is absolutely not true.
Speaker 1 (05:25):
Yeah, that is a very great point. You have to
keep emotion out of it and just look at the
data and just look at the numbers and what they
really are or not what the media tells you. But
then again that's that's always the case. Richard Rosso, Certified
Financial Planner with some more sobering statistics and where we
really are. Richard, thank you, we appreciate it.
Speaker 2 (05:41):
Thanks Bob,
All right, that's promised. Now let's talk a little bit
about what's happening on Wall Street and what we can
expect going forward. Richard Rosso is a certified financial planner. Richard,
good morning, How are you?
Speaker 2 (00:09):
Hey? Good morning, Bob?
Speaker 1 (00:10):
How are you? I'm doing well, thank you. So then again,
I've got most of my retirement in fixed indextinuities, so
I don't have to worry too much about what's happening
on the on the in the market right now. Yeah,
I'm doing okay in that regard, but a lot of
people are not, obviously, and there's there's a lot of concern.
The volatility this week, of course, is centered on what
(00:30):
kind of an impact the tariffs are going to have.
Speaker 2 (00:32):
What do you read?
Speaker 1 (00:32):
What does your read right now?
Speaker 3 (00:33):
Richard, Well, listener, isn't it you just next mentioned something
you said fixed?
Speaker 2 (00:39):
So keep this in mind. The Times are the Time.
Speaker 3 (00:43):
Article that you're referencing is a bombastic scare tactic.
Speaker 2 (00:47):
It's it's a political spin, and.
Speaker 3 (00:50):
What investors have to do is be careful of being
brought into some of the worst headlines I have seen
in a long time, which elevates fear at levels I
haven't seen since maybe the market was down twenty percent,
And if you keep this in perspective, the SMP is down.
Speaker 2 (01:05):
About four point eight percent.
Speaker 3 (01:07):
If you own bonds and you're well balanced, you're pretty
much flat for the year, which is a big difference
in what you're hearing out in main street media that
the whole world is falling apart.
Speaker 2 (01:18):
That's absolutely not the case.
Speaker 3 (01:20):
So you have to keep your perspective and sort of
really look at what is the personality your portfolio based
on what you're hearing. If you've got all your money
in these high flyers, listen, if you're a money manager
like we are, we were trimming all.
Speaker 2 (01:32):
That out last year.
Speaker 3 (01:33):
There was so much euphoria over AI and so forth.
It's only a matter of time before money drains out
of that. But if you own what we call value stocks,
if you own food and beverage, utilities, healthcare, you've held
up pretty well.
Speaker 2 (01:47):
That index is flat this year, but even the S
and P itself is down four point eight percent, and
you would think that the whole world.
Speaker 3 (01:55):
Is coming to an end based on main street headlines,
and that's really unjust and unfair to investor.
Speaker 1 (02:00):
Is the reason they're doing that Richard, because they expect
that the tariff wars are going to last longer, you know,
trade wars if you will, because I think most people
that I talk to anyway say that we are well
much better positioned as a country to handle a trade
war than other countries are. And it's going to make
them buckle a lot more a lot more quickly than
people realize. So are they thinking this is going to
(02:20):
be a long term issue.
Speaker 2 (02:23):
Well, here's the thing.
Speaker 3 (02:24):
The biggest issue we've had is the economy started slowing
down last year last quarter, the fourth quarter of the year.
Speaker 2 (02:32):
Why stimulus is draining.
Speaker 3 (02:34):
This has been a government driven economy since the FED
started to take over the market after the financial crisis.
Now you're going through this detoxification or Scott Bessen calls reprivatization,
which is causing some you know ilk to the market.
Because Marcus don't care about red or blue, they care
about green. So if there's less stimulus, no matter how
bad the money is spent, the.
Speaker 2 (02:55):
Markets love it. With the tariffs.
Speaker 3 (02:57):
Tariffs are not inflationary, it's the it's the going back
and forth. I think that unnerves markets more than anything else.
And broadcasting it it makes it look like we don't
have a strategy and we're just flying.
Speaker 2 (03:10):
By the seat of our pants as supposed to say.
Speaker 3 (03:13):
President Trunk comes up with with the with the tariffs,
and he doesn't change anything. This is what we're gonna
do and not the next day change is mine. I
think markets can work properly in that in that space,
but keep in mind the fire of a market downturn,
the fire of slow economic growth has already started. This
tariff talk talk adds gasoline to that fire that we're
(03:34):
seeing right now, but even a pretty small fire.
Speaker 1 (03:38):
Yeah, and that's that's well said and well received. What
about the inflation report yesterday? How much does that impact
the futures?
Speaker 2 (03:46):
It helps, it helps, it's coming down. It's been stubborn.
Speaker 3 (03:50):
Okay, it's been stubborn since pandemic. We're at the I
follow a different type of CPI. It's the trim means CPI.
It gets all the outliers out. You're at about two
point three percent going forward. That's close to the FED
target of two percent, which is perfectly fine. But what
people are more concerned about is when they go to
the store, their prices are still.
Speaker 2 (04:10):
Litivated, elevated.
Speaker 3 (04:11):
Although we have seen egg prices come down and some
other commodities come down. So here's what's going to happen.
If there are tariffs on goods, people are not going
to buy. Consumers are tapped out, they're just going to
substitute goods. And what the market's more worried about with terrorists,
it's not inflation. It's that companies are going to have
to eat those increases. I listen to a Walmart conference call.
(04:34):
There is no room to raise prices. People do not
have the ability to pay. So therefore, that's what we're
seeing right now. We're seeing a situation where markets have
to reprice in the fact that consumer demand might cool
off and that margins that have been really good for.
Speaker 2 (04:49):
Companies are going to come down. But think about this, Bob.
Speaker 3 (04:53):
If you're in a longer term environment and you have
a balanced portfolio and what you're hearing, you would maybe
want to look at your portfolio and thick and you're
probably down like twenty percent, and when you look at it,
you're probably.
Speaker 2 (05:03):
Flat or down slightly through the ear.
Speaker 3 (05:05):
That's a big difference than what you're hearing out there
on main street media.
Speaker 2 (05:09):
And if you have an advisor, your advisor should.
Speaker 3 (05:12):
Be level headed, just looking at the data, no political
spend and helping you make the right decisions without hearing
and reading all these articles that I see that look
like the financial next coming of the financial crisis, which
is absolutely not true.
Speaker 1 (05:25):
Yeah, that is a very great point. You have to
keep emotion out of it and just look at the
data and just look at the numbers and what they
really are or not what the media tells you. But
then again that's that's always the case. Richard Rosso, Certified
Financial Planner with some more sobering statistics and where we
really are. Richard, thank you, we appreciate it.
Speaker 2 (05:41):
Thanks Bob,
Popular Podcasts
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Therapy Gecko
An unlicensed lizard psychologist travels the universe talking to strangers about absolutely nothing. TO CALL THE GECKO: follow me on https://www.twitch.tv/lyleforever to get a notification for when I am taking calls. I am usually live Mondays, Wednesdays, and Fridays but lately a lot of other times too. I am a gecko.