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December 18, 2024 15 mins
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Episode Transcript

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Speaker 1 (00:00):
All right, here we go, Thank you for listening, Mark Blazer,
Chuck Douglas, Don Ross, the retirement boss in the studio
with us Ross Wealth Advisors eight three three Don Ross
eight three three D O N R O S S.

Speaker 2 (00:14):
If you would, uh, you.

Speaker 1 (00:15):
Can text that number or call it. Please know, heavy
breathing or anything silly like that. If you call, please
don't do that. Tattoos and yeah, none of that. And
the reason I say that is because the guy we're
bringing on, Alex Stone from ABC News, probably was thinking
I'm going to call that number.

Speaker 3 (00:36):
You said no heavy breathing, right, I mean you opened
it up to it, opened it up.

Speaker 2 (00:40):
See what I mean. I knew you were thinking that.
That's why I was like, let me head him off
with the past.

Speaker 1 (00:44):
And say please don't do that, please, Alex. What I uh,
what I wanted to do was, uh, have you listened
to us.

Speaker 2 (00:57):
Trying?

Speaker 4 (00:58):
Yeah?

Speaker 2 (00:59):
It did sound kind of weird.

Speaker 4 (01:00):
Sorry, Is this like only fans am?

Speaker 5 (01:03):
Now?

Speaker 6 (01:03):
Yes?

Speaker 2 (01:04):
Yes, as far as you there we go.

Speaker 6 (01:10):
Who's that I'm lost?

Speaker 1 (01:11):
Now, Chuck's going, I'm not making enough money if this
is only fans am, because man, those people get paid
a lot of money and Alex might be saying the
same thing. Even we have we're going to try Special
Operations Salute. This is D Day eightieth anniversary Operation Overlord,
straight bourbon whiskey aged and this looks fantastic. It's called salute, correct. Yeah,

(01:38):
Don brought this in if you would give us the description.

Speaker 5 (01:41):
Don, Well, I have not tasted this one, but Alex,
this is made by Heritage is stilling. I'm a VET
and I always trying to pay your service. You're welcome,
was a privilege, and so I've been looking for bourbons
over the years to bring in and we taste test them.
And this one is made by Heritage. Is stilling because
there are people ready to down that are listening.

Speaker 6 (02:00):
I'm sure.

Speaker 4 (02:01):
Yes.

Speaker 5 (02:02):
So they designed this recently to be their Special Operations Salute.
They're raising money for Special Operations Command, and there's a
couple of D Day versions. There's sea, air and land,
and there's special operations like the Task Force one sixtieth.

Speaker 6 (02:18):
So that's why we're doing it.

Speaker 1 (02:20):
And I like the description though you were reading earlier.
First of all, that's really interesting. Also, Alex, just a
little background. Don is a He is a helo pilot.
He is a helicopter pilot and it was yeah, it
was yeah, but you could still fly Oh.

Speaker 6 (02:36):
Yeah yeah yeah yeah army army pilots.

Speaker 1 (02:39):
Yeah for sure, for sure, I know, really really cool.
Don's a part of the He's basically become a part
of the show now. Every once in a while he'll
stop in and brought this with us. You were just
something with honey in it, or.

Speaker 5 (02:52):
If you look at because I have not tasted this one,
but I'm always interested in the flavor. So it's vanilla chocolate, floral,
b pollen clove and sweet molde. Oh now, I want
Chuck to say that in his accent, like.

Speaker 2 (03:06):
Those big no, those big pipes of Chucks. He can
be like, you know, it's like a commercial.

Speaker 4 (03:09):
James Earl Jones is almost I don't know, man, I
don't Is there a mask in a way to say,
be pauling floral, Chuck, it's floral really good.

Speaker 2 (03:19):
You gotta put floral in front of it.

Speaker 4 (03:21):
And yeah, that's that's more of an interior decoration.

Speaker 6 (03:24):
Sound. Oh yeah, that's.

Speaker 1 (03:26):
Not a James Earl Jones down now, Alex are you
a are you a like bourbon whiskey guy?

Speaker 7 (03:32):
It can be I have to be in the right
mood for it. I'm more of a wine and beer guy,
but but I can be.

Speaker 3 (03:37):
Yeah.

Speaker 7 (03:38):
So here's in that studio right now, I would be
I know that I loved it. Like herring coffee sitting
here in front of me right now would be something else.

Speaker 4 (03:45):
Yeah, you'd be safe to be in Ohio today. There's
no earthquakes, so you could have joined us. Yeah, well
I am a little gassy, but no earthquakes.

Speaker 6 (03:52):
But no earthquakes. Right, let me under the popping.

Speaker 2 (03:55):
Yeah, let me uncort this here. It's like hold on
saying there all right? Then I love this sound here.

Speaker 5 (04:05):
And honor of our special ops guys.

Speaker 3 (04:07):
And it was like a SMR. Right now, I'm loving
this in my headphones.

Speaker 2 (04:13):
And here we go.

Speaker 5 (04:14):
And the new thing is I have a client that
every time he comes in he brings a new bottle
of bourbon, so it never gets consumed.

Speaker 2 (04:21):
But does this smell good?

Speaker 6 (04:24):
Smell it over here?

Speaker 4 (04:25):
It's that floral depos.

Speaker 6 (04:27):
No flora will be pond You got it right in
the in the clove.

Speaker 2 (04:32):
Hit is he doesn't want any he doesn't want any
He's good.

Speaker 1 (04:37):
Zach attacks like, eh, he's not doing it all right, gentlemen,
here we go, all right, here we go.

Speaker 2 (04:42):
Mm hm hm.

Speaker 6 (04:46):
Oh. Yes, well that's actually very good.

Speaker 2 (04:48):
That is very smooth, Alex. When you drink this, do
you drink it neat or.

Speaker 1 (04:52):
On the rocks?

Speaker 7 (04:53):
Usually on the rocks. Okay, that's how somebody in there
is on the rocks right now. We observed it.

Speaker 2 (04:58):
Yes, all of it. It's on the rocks. I like it.

Speaker 6 (05:03):
Yeah, very I don't know that.

Speaker 4 (05:05):
I'm I'm way too comfortable drinking floor will be falling.
I'm liking this all.

Speaker 2 (05:14):
Right, So to the business at hand. Sorry, Alex.

Speaker 3 (05:16):
You guys got me all like calm listening to you.

Speaker 6 (05:18):
Now.

Speaker 3 (05:19):
I love this. It's like just you know, everybody's sitting
you hear the ice in the glass. I love it.
And then you're like, yeah, you know.

Speaker 2 (05:27):
And it's pouring and yeah, yeah.

Speaker 3 (05:30):
That I'm likeking a trance right now.

Speaker 2 (05:33):
They're like, Alex, you got another hit. Later You're like,
I'm not doing anymore. I'm clocked out. I can't do it. Yeah.

Speaker 1 (05:41):
So on a serious note, though, the CDC confirming the
first case of it's being called severe bird flu I guess,
which is different than just regular bird flu.

Speaker 3 (05:51):
Correct.

Speaker 7 (05:52):
Yeah, the issue has been that and now again that
we've talked about it in the last number of days,
but there's been no person to person transmission. This is
all coming from cows and and from birds and then
crossing over to humans. But most of them have been
very mild and where most people everybody except for now
this one, they've just had eye redness and some cold symptoms.
But there is now and this is kind of what

(06:13):
doctors were waiting for that they knew it would go
on at some point. There is a case in Louisiana
that is a little worrisome because it all of a
sudden it has jumped to being much more severe that
it's the first severe case of this virus. But the
person is over the age of sixty five, does have
underlying medical issues. They've got a severe respiratory illness right
now and they're in critical condition with bird flu and

(06:37):
the genetic data indicates that this person got it with
a version that has been in wild birds and in
poultry in the US, some human cases in Canada and
in the Pacific Northwest. But this is different than the
one spreading in cattle and where those working in dairy
farms where they've been getting it after the milk sprays

(06:58):
on them or is in the and they breathe it
in and then they get it. But this person was
around sick or dead birds in backyard flocks. No person
to person, but it is the first one that's that's severe,
and that does worry them.

Speaker 1 (07:12):
Was there any indication that, like if I were to
because I hear that and I go, well, that makes
me not want to eat chicken, you know, but you're.

Speaker 3 (07:21):
Saying no, because you're cooking chicken. You're gonna be fine
with that.

Speaker 7 (07:24):
There have been a total of sixty one confirmed human
cases of it now in eight states, and back in August,
the dairy industry was saying this is a cow thing
and a bird thing. Humans aren't getting this, and then
it did jump to humans and humans are getting it.
At this point, there is no known person a person transmission.
At some point there probably will be, but it's not

(07:45):
there yet. And the and again it's been mild except
for this case in pretty much everybody.

Speaker 3 (07:52):
But no, with the chicken, you cook it.

Speaker 7 (07:54):
The problem with the raw milk, and the reason why
raw milk has been recalled is because you're drinking it
and it's been found in raw milk from the cattle,
and that you can get it from drinking it and
then get infected with bird flu. And so many of
those who have been infected were in the milk industry
and that's why they got it. There was one child

(08:15):
in Alameda County, California. They cannot figure out how that
kid got it because the child's family did not get it.
The child did not drink raw milk, was not around cattle.
They think maybe was around some birds. That's the only
thing they can think of. But they don't even know
if the child was around birds, so they don't know
how that child got it. But otherwise everybody has been
in the cattle industry or around birds. This person was

(08:40):
around backyard birds and so there's not a major concern.
And again all of those in the health industry, they
are saying the risk to the public is low if
you're not working around cattle. And most of them are
in California. Six hundred and forty five dairy herds in
California have it, eight hundred and sixty five nationwide. There

(09:00):
most of them are are in California, big milk producing state,
and that most people have a reason why they got it.
And what they've been around. But for everybody but this one,
it's been really mild.

Speaker 1 (09:12):
Well, I'm switching to camel just to just to make cattle,
just to make sure, because I I think do camel
they have milk, don't they?

Speaker 4 (09:20):
Or do they camels? I'm sure that they they you know,
to feed their babies. They just the water, just water
in them, not milk except for that water.

Speaker 7 (09:31):
Yet, there were two cats last week that were confronted,
like house cats in California that have it. And so
the question was is a cat going to pass those
two cats? Will they pass it on to their owners?
And maybe they haven't done it yet, but but the
owner may get it from the house cat.

Speaker 1 (09:44):
All right, We'll keep an eye on this for sure.
Alex Stone, ABC News out of Los Angeles.

Speaker 2 (09:48):
Alex will mail you.

Speaker 3 (09:49):
A bottle of this, please do all right? Enjoy guys,
see you man, I see you all right.

Speaker 1 (09:54):
Well, you saw that the dell is off eleven hundred today.
Don Is that something where? And I may have asked
you this before because I feel like I have something
kind of triggered in my head, But do you have
when there's swings like this? Do you have actual clients going, hey,
don I saw that. You know, they probably the normal

(10:17):
I would think the normal run of people possibly doing that,
but clearly bad idea to try.

Speaker 2 (10:24):
To make it.

Speaker 5 (10:26):
It's been a way of a run up. Okay, Mark,
you know some of these indexes are up twenty five
to thirty percent. We have an administation administration change coming up.
We have a quarter point twenty five beep dropped in
the FED meeting today, and then we don't have a bill,
you know, and that that creates a lot of uncertainty.
So the market just does not like that. So it's

(10:49):
not a good day for that.

Speaker 1 (10:51):
It's interesting when you start looking around at headlines DAL
falls after FED projects fewer rate cuts next year. You know,
when you when you see that headline, it's now see
this is the part of the business that you do
at Ross Wealth Advisors. For me, that doesn't make sense
because that to me, when I read that headline, that

(11:13):
to me equals down, equals up and up equals down.
Because I feel like that Wall Street would react more
favorably when you know they like with it's in tandem
with the rate cuts.

Speaker 2 (11:29):
I'm trying to figure out how to say this. I
have a small brain.

Speaker 5 (11:33):
So we's going on. It should be like a roller
coaster right up, that's what you're saying. Why isn't it
rosy and green?

Speaker 4 (11:40):
Well, the announcement that the rates are not going to
get cut anymore next year, that anticipation would mean Corporate America,
lending institutions and so forth would be making more money
than they would if those rates were cut. So you
would think Wall Street would respond in a positive manner
because it's going, we're not reducing our potential income for
next year.

Speaker 5 (11:59):
Right, but don't we don't have a budget either. It's
got to be done by Friday. So it's uncertainty that
creates these these swings like that, and.

Speaker 6 (12:08):
They're getting bigger and bigger.

Speaker 5 (12:09):
I remember in eighty seven when I entered this industry,
we had a day where the market was down like
two and a half and people were jumping out of windows.

Speaker 6 (12:16):
Well, have a two and a half swing.

Speaker 5 (12:18):
You know, by lunchtime it gets back to you know,
when you sit down with families personally and you're chatting
about their goals and dreams, it's building a plan that
suits them and it addresses these wild swings, and there's
ways to invest their portfolio that protects them from some
of these downsides, and that's why it's customized.

Speaker 4 (12:37):
Do you lay down those rules when you take on
a new client?

Speaker 6 (12:40):
Do you?

Speaker 4 (12:40):
Because the information is available way too quickly, way too easily.

Speaker 6 (12:44):
These days, you've.

Speaker 4 (12:45):
Got somebody who say, you know, oh got we're down
three points done, Hey, don it's down. You know, every
little bit. They've got to get on the phone to
you and ask you what to do. Should they change anything,
do you tell them up front, Look, we've got this strategy,
we're sticking to it. Please don't call me every fifteen minutes.

Speaker 6 (13:01):
No one, No one does, really no, because oh.

Speaker 1 (13:04):
My gosh, well that's a testament to him.

Speaker 4 (13:06):
Though.

Speaker 6 (13:07):
Yeah, it's serious.

Speaker 5 (13:08):
It's expectations exactly. We don't work with do yourselfers. You know,
they're going to hurt themselves. Although there's some people that
do very well on their own, we're helping the guy
and gal or family that just wants to make sure, hey,
I can retire, I'm going to have an income for life.
I'm not going to overpay taxes. That's the big thing.
And they're not worrying about market swings like this because

(13:30):
we talk about them, all right, and it's a long
term play. Wait a minute, I'm eighty five years old.
It's still a long term play. When we're building a portfolio,
the custom design for your needs. Okay, we're not just
taking stuff off the shelf and here and call me
if you need me. We are actively always working with
our clients. We sit down at least twice a year.

(13:52):
But the expectation is we know we're going to see
things like this because there's always going to be uncertainty.
And if you don't like the roller coaster ride of
looking at your portfolio every day, which I don't think
our clients do, then don't look at it right it's
going to now if you want to get off that
train ride, you can park it in cash. But there's
multiple instruments and investments we use out there, and we

(14:13):
put them together and we customize the package that meets
our client's needs. Who are promly most of your listeners
hear that. People They just want to you know what,
I want to have a nice retirement or plan up
to it, and I don't want to pay too much taxes,
and I want to know I have income for life,
and if I get sick, what's the plan? There, and
that's kind of our armor up plan that we talk
about here.

Speaker 2 (14:34):
The calmness there, I mean, that's that.

Speaker 6 (14:36):
I've been doing this for thirty five years. I've seen
it all.

Speaker 1 (14:38):
You can't fake that, by the way, the calmness I've
seen it all. You can't fake that. I'm sitting here
staring at him when he's talking, and it's like it's
just the calmness there. That's and that's what you want
when you got somebody who's who's doing this at Ross
Wealth Advisors Don Ross is in studio by the way,
eight three three Don Ross eight three three D O
N R O S S. You can text that or

(15:00):
call it, but there it is. I mean, there's always
that conversation when the market does these swings. You know,
you got the Fed who you know, cut the rates again.
It says twenty five basis points.

Speaker 2 (15:10):
That's quarter right, quarter point.

Speaker 5 (15:12):
Yeah, we're talking basis points in our world. Beeps yeah
so but yeah, call text, love to chat with you.
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