Episode Transcript
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Speaker 1 (00:01):
I like this music. Hello everybody, I'm Stephen Bouchet, sitting
here with you today, A little chilly out and I
know the worst is yet to come. I was up
and out early seven point thirty, walked to Stewart's, got
my papers, went to Starbucks, got a coffee, went to
Sweet Mimi He's got some breakfast, and boy, you know
(00:26):
I need to dress a little bit warmer. I guess well.
I can't thank you enough for taking time out of
your day to tune in as you do every week.
I can't begin to tell you you've made this show
probably in my mind, the best, the best talk show
relating to money, investments, financial planning, and so forth out
(00:49):
there in the whole country. I think we have what,
in my mind is the best show, and it's because
of you, the listening audience, taking time out of your
day to hear what I or one of my colleagues
have to say. And we have a lot to say,
especially today, I have a lot to say. But I
can't thank you enough. So let me start off by
(01:11):
saying thank you. You can never say thank you enough.
I truly appreciate you tuning in one eight hundred talk
WGY that's one eight hundred eight two five five nine
four nine. I have Dalia and Katie my producers today,
So between the three of us, we would love for
(01:32):
you to call in and ask any questions you have.
I'll do my best to give you my honest opinion.
And believe me, folks, you may not always like my opinion,
but it'll come from my heart and from my experience,
and I will give you the absolute most honest opinion
I can ever ever give you. One eight hundred eight two,
(01:54):
five fifty nine forty nine are our phone numbers today,
And as they said, any questions, any questions whatsoever, give
me a call. So it was quite the week right.
Investors awaited Navidia earnings. As the week began, Bitcoin fell
below ninety thousand for the first time in seven months,
(02:15):
and it even fell deeper than that. It was close
to eighty thousand at one point. Stocks sold off. Tuesday,
Navidia lost about three percent ahead of Wednesday's earnings, called
Navidia earnings, then Blue passed expectations left everybody behind in
the dust, as CEO Jensen Wang dismissed bubble talk in
(02:37):
delayed September Jobs day to beat expectations. Because of the
government shutdown, a lot of these reports that we used
to get like clockwork are coming in a little bit late.
So you know, for the week, it wasn't a pretty week.
The dial down one point nine percent, SMP off two percent,
Nanstack off two point seven percent. Not a pretty week
(03:00):
at all. What can I say, folks, You can't have
a great week every week. You got to have some
some down weeks. Here to date, though, keep it in perspective.
S and P is up twelve point three percent, with
dividends over thirteen percent. You got the NASDAK composite and
QQQ the NANSDAK one hundred, so when you buy Nasdaq
(03:21):
via QQQ, you're buying the NANSDAK one hundred, both up
about fifteen point three percent, and even the Russell two thousand,
the mid cap small cap index is up about six
point three percent. So there you have it. You know,
here to date we're doing okay. We gave some back.
You hear me say often volatility creates opportunity, and listen,
(03:46):
we we lived by that. So we made some amazing
trades yesterday my investment committee and I'll get more into
this later in the show we took advantage of the volatility.
We're not a Hey listen, we're not afraid of a
little volatility. We actually get excited and giddy over it,
and so should you. If you're a long term investor,
(04:08):
Do not get do not get scared when you see
the markets, you know, have a little bump in the
road here or there, or a little correction. It comes
with the territory. Just forget about it. Forget you even
own stocks during those times. Go out, walk around, get
some fresh air. Just don't look at your holdings every second,
(04:29):
every minute, every hour, every day. Heck, to be honest,
So here we are almost Thanksgiving ten and a half,
almost eleven completed months into twenty twenty five. I don't
think I've looked at my portfolios, my personal portfolios more
(04:49):
than a handful of times. No more than a handful
of times. And usually those times are like in April
when the market was down twenty percent. I'll go into
my sandbox counts and I take advantage of it. I
look into the cookie jar, I look under the mattress.
I look for wherever I have some cash, and I
try to get it invested. And no different, you know,
(05:12):
Friday and Monday. I'm telling you, I'm going in and
I'm buying in my sandbox accounts. I'm going to take
advantage of this volatility. When I tell you, when there's
blood in the street, that's when the really discipline investors
make money. They don't make money getting scared out of
the markets. They don't make money selling their holdings because
(05:35):
they can't risk losing any more money. You don't lose
anything if you don't sell, folks, it's just on paper.
Paper's cheap, it's gonna be a throwaway commodity. But once
you sell, now you realize those losses. So don't sell
if anything, you know, maybe get out of some dogs,
(05:55):
maybe get into some areas that have come down. That's
what we did on Friday, my investment team, they went
to town. They made eleven hundred trades, eleven hundred accounts
they traded on because we have some clients obviously, you know,
you know, a typical client could husband, wife have or
(06:16):
partner and partner could have an IRA account each, maybe
a roth IRA account as well. So there's four accounts.
The trades we made yesterday were just in our qualified
accounts that are not taxable that's where we're a little
bit more tactical, and we'll make a little bit more
(06:37):
moves than we will in our tax manage portfolios. So
we're a little bit more active in those portfolios that
we don't have to worry about tax councilquences. And that's
what we did. That's what we did, so you know,
all in all, it was a good opportunity to get
into some areas for the week. Companies like Walt Disney
(06:57):
ended it standoff with YouTube after just over two weeks.
You have bankrupt opioid maker Purdue Farmer reached the seven
point five billion dollars settlement, requiring its former owners, the
Sackler family, to pay up the six point five billion
to victims. Purdue will transfer most of its assets to
(07:18):
a new company. Noah Farmer. Elon Musk's X and he
and the president are buddy, buddy. Now did you see
that Elon Musk's X ais and talks to raise about
fifteen billion dollars that's billion with a B, for a
total of about a two hundred and thirty billion dollar valuation.
(07:38):
You got a US District jug judge said Meta Platforms,
which is Facebook acquisitions of Instagram and WhatsApp did not
stifle social media competition, So I guess that's here to stay.
This coming week, we got third quarter earning season winding down.
It's been a hectic third quarter. We had about ninety
(08:01):
five percent of those five hundred companies in the SMP
have reported results, more than eighty percent of them having
beaten earnings per share estimates and about seventy five percent
surpassing sales expectations. So listen every quarter, you know, I
see the bad news bears. Oh, it's gonna be a
(08:22):
bad quarter. TERFs are gonna hurt the profits of these companies.
These companies are gonna sinc Yeahbi David do folks, it's noise,
what we call noise in the marketplace. Forget about it.
Forget don't tune them out. Put on your favorite your
your your favorite playlist, listen to some music. I don't
(08:42):
care what you do. Just don't listen to the bad
news bears. They'll just ruin your day and ruin your
your discipline and having a good portfolio, well balanced portfolio.
So next week we're gonna have Agilean Technology, Zoom Communications
on Monday, and then you have some other companies like
(09:02):
Analog Devices, Autodestell, Workday, you get it. John Deere has
a conference call to discuss their earnings on Wednesday, and
you know you heard me say, no secret right, government
shutdown is out. Those darn Republicans and Democrats. I'm gonna
(09:23):
I'm not blaming one side of the other. Folks in Washington.
You need to come together. You gotta compromise, you have
to negotiate. You have to do what's right for the people.
We are the people, We are the constituents that they're
supposed to be looking out for. Come on, guys and gals,
get off, stop stop making a political and get this
(09:47):
government shut down moving, get the country back on the map.
And enough of this government shutdown talk. There should never
be there should never be a pump in the road
because of a government shut down. But you know, because
of that, there's a lot of delays in the reports
that come out. Even if FED they're not going to
(10:09):
have one of their favorite reports on inflation because they
the BLS just can't get the numbers out there. You
have it, you know. So the FEDS are meeting December
ninth and tenth, and the biggest report on inflation doesn't
come out till December eighteenth, So they're just gonna, you know,
I guess, put wet their finger, put it up in
(10:30):
the wind, and see what direction they're going to go in.
We'll see their data depending. So what are they going
to do without data? I don't know. We'll see what
they do without data, you know. The Census Bureau on
Tuesday reports retail sales for September August Retail sales rose
about six tenths of a month over month to seven
(10:53):
one hundred and thirty two billion. And Thursday, Thanksgiving, Happy Thanksgiving, folks.
Equity and fixed income markets are closed for the holiday,
and Friday is going to be a soft day. It
always is, you know. One of the markets is closed
half a day. So there you have it. We're gonna
have a shortened holiday week, but nevertheless, it is a
(11:15):
holiday week. It's Thanksgiving. Happy Thanksgiving. One eight hundred eight
two five five nine four nine one eight hundred eighty
two five fifty nine forty nine. Let me take a
quick break. Don't go anywhere, folks. Hey, folks, I'm sorry,
believe me, I'm live today. That's an old spot. We
(11:36):
did we we we we just had an unbelievable webinar,
and we share everything, folks. I'm like an open book.
We share everything. So everything's on our website. If you
go to Bouchet dot com, you'll see down at the
bottom we put up you know, like our latest webinar.
You're in tax planning, you know we got Pollopiez he's
(12:00):
on my investment committee. Has a nice white paper on
the artificial intelligence arms race. You know we that that
seminar that we just spoke about that's up there. You had,
you know some it's some good information. This past week
(12:23):
we did a nice little seminar Ryan, Katie Bunk and
Jim Lebrue, who is the managing partner of the Brewe
Law firm. It's more than le Brew. It's Lebrew Rowland's Oh,
I can't think of the other two names. I apologize.
So you know there's a lot of good stuff on
(12:44):
our website. Go to our website. Not now, listen to
me for the next for the next forty minutes, but
after that, when you when you're hanging around having that
second cup of coffee, go to our website, Bouchet dot com.
In the meantime, if you have questions, regarding your portfolio,
give me a call one eight hundred talk WGY one
(13:05):
eight hundred eighty two five five nine four nine one
eight hundred eighty two five fifty nine forty nine. So
on a personal note, last night, I went to you know,
I'd like to support different things in the community. And
I went to the Saint Peter's Galla down at Franklin Plazas,
just me in six hundred and fifty to seven hundred
(13:28):
other uh people who who get back in the community.
And it was a great party, a great party. But
you know, something touched my heart this this this past week.
I talked about it. Over the summer, I went to
a fundraiser at the Village Pizzeria in restaurant. And if
(13:49):
you haven't been to the Village Pizzaia in restaurant, folks,
go to the Village Pizzaia in restaurant. It's only exactly
twelve miles. Take a left at Starbucks in downtowns are Toga,
exactly twelve miles going out Route twenty nine towards Amsterdam.
(14:11):
It's it's it's a who. I talked to Michael Cocoa
about it last night, he says, Steve, he says, I
met Sandra Foster, the owner of of of it, and
I can't believe she calls herself village Pizzerian restaurant. But
she has like a wine spectator list to to that
(14:34):
that people would love to have, love to have, and
you know many menu items that that that are second
to none. I have to go out there, I said, absolutely,
it's in Middle Grove. You you you absolutely have to
(14:55):
have to go out there. It's it's like amazing not
Middle Grove. Oh my god, oh god, oh god. Hold on, folks,
I got to put it in my map. Let's see.
Where is it? Village Pizzaia. Oh my god, Oh well,
(15:22):
I'm going to have I'm going to have a heart. No,
it is Middle Grove. I'm sorry. I was right. It
is Middle grow It's one heck of a place. But
I went to a fundraiser over the summer Joe Carr,
Joseph Carr, Josh Cellar Wines and Joseph Carr Wins was
like the guest speaker, and there was this little girl
who stole my heart, five years old, who the fundraiser
(15:46):
was for. Lily is her name, and she's been fighting
cancer and you know, you heard me talk about my
I took a little sabbatical in October, went to the
Vatican set confession for the first time, I think since
I was eight years old. And then at the end
of the trip, I went to Montserrat, Spain, a thousand
(16:08):
year old monastery, and sat down with the padre in
the courtyard. I saw a chair, I saw padre. I
sat down for about a half hour. I got everything
else off my chest. It was I'm not a boy scout.
I had some things that I had to get off
my chest. And at the end I asked them. I said, Padre,
I said, help me my mission in life now, I said,
(16:31):
I have a new lease on life and I don't
want to blow it. And one of the things I
want to really do is help others. I want to
be able to help people, So help me do that.
I got my first sign Lily who stole my heart
over the summer. I read last week that she rang
the bell had her last chemo treatment. But then but
(16:54):
then I read that beginning December eighth, for five weeks,
every day her mother is driving her back and forth
to New York City for a radiation treatments. This little girl,
five years old. If you see a picture of her,
if you're on Facebook, just look for Lily fights cancer
and you'll see what I mean. Your heart will will
(17:16):
go out to Lily. So I that's a sign. I
can't let Lily and her mom drive back and forth.
They need to be back home every night in Amsterdam
because they have a little you know, Lily has a
big brother, Noah, who's seven years old. And you know,
(17:36):
I get tired of just taking the train to New
York City. So somehow, someway I got to do something
about that. I have to help I have to help
Lily and her mom out. So stay tuned tomorrow. I
may have some good news for you on ways that
I plan on helping out the family. So come back
tomorrow morning. I'm going to be back on at eight
(17:58):
and I'll tell you what I'm going to to You know,
it makes me feel good to do good things, and
I hope I can just be kind, be kind, be kind,
and just look for for for good good things to
do for good people. One eight hundred eighty two five
five nine four nine one eight hundred eighty two five
(18:19):
fifty nine forty nine. So let's talk about some investment themes.
I mean, that's what you're tuned in for. We got
tech in a high stocks under pressure, and I love it.
You're gonna know why I love it after the news
because you know my investment team. Wow, I think they're
going to make some dynamic moves that are going to
(18:42):
make some good money for our clients without adding risk
to the portfolio. We are always looking. We are always
looking to make money for clients without taking too much
risk and using the most inexpensive cost investment products that
we can find. I say that because in the nutshell,
(19:02):
then nudies have internal management fees of about three percent.
So when you're favorite and usually it's your favorite family
friend or family member who wants to say in annudy
because it's guaranteed when you die, your beneficiaries get one
hundred percent of what you put in, even if the
market's down. That sounds good, But do you really want
to die to take advantage of that guarantee? I don't
(19:26):
you know. That's not the kind of guarantee I want.
I want other guarantees. I like the guarantees i'd give you.
I guarantee you the markets will go up and down,
up and down, up, and down, and the market has
always come back and gone on to make new all
time highs. If you take that advice, and that advice alone,
you're you're never going to lose money long term because
(19:46):
you're not going to be scared out of the markets,
and you don't need to buy expensive investments like annudies
for their guarantees and there's other guarantees that come with it.
And I'm not saying annudies aren't for everybody, but they're
not for most people. Mutual funds the average annual fee
is about one percent. It used to be more. They're
(20:06):
coming down and ETFs exchange trade of funds, so we
as you know, we just pass them one point five
billion with the b milestone. We manage over one point
five billion dollars and we managed every investment we have
is an exchange traded fund. And our core holdings are
(20:27):
point zero three percent, folks. That's point zero three percent
compared to one percent. Mutual funds are three percent annuities.
Our total portfolio all in is less than point two
zero percent, So we believe in exchange trade of funds.
We only have two individual stocks, Apple and Amazon. I'm
(20:50):
glad to say because it's brought our clients some nice
profits and some days you know, they're down more than
the market, but over time they do good. I believe
in those companies. So there you have it. We manage
a lot of money professionally, and we're not buying and
selling stocks, creating a lot of activity in your portfolios.
(21:11):
One eight hundred eight two five five nine four nine,
one eight hundred eighty two five fifty nine forty nine.
So this week, you know, the US index has ended
the week lower, despite a little bit of a bump
on Friday, a little rebound caution, and in tech and
(21:31):
AI heavy names, some risk has come off the table.
Let's say, even crypto. I mean bitcoin was one hundred
and twenty thousand, not too long ago. You heard me
say when it was one hundred and eight thousand. If
you always wanted to get into it, you know, now
might be a good time to buy into it. Well
I was wrong, I get wrong. Sometimes it came back
(21:52):
down to under eighty five thousand. It actually touched close
to eighty thousand. So I also told you we don't
buy bitcoin for our clients, except now we bought bitcoin.
I'll tell you in the second half of the show
what we did for our clients. I think bitcoin at
this price is a good price. Now I could be
(22:14):
wrong again. Maybe it'll go down on the seventy five
or sixty five. I don't know. I do know bitcoin
is here to stay. You're going to start seeing it
in pension plan retirement accounts for owen k's. It's being regulated.
This administration supports it. So we finally said, hey, let's
add a little bit. Let's put it in the portfolios. Folks,
(22:38):
we got so much to talk about. What we're coming
up to the bottom of the hour, and you are
listening to Let's talk money, brought to you by Bouchet
and Andrew Group, where we help our clients prioritize their
health while we manage their wealth for life. Don't go anywhere,
Stay with me through the news. Go to our website
if you want Bouchet dot com b as in boy
(22:58):
Ouche com. But in the meantime, the phone lines are open.
One eight hundred eight two five five nine four nine.
That's one eight hundred eight two five fifty nine forty nine.
Any questions whatsoever, folks, give me a call. I'll see
you on the other side of the news. Break. Sometimes
I like listening some nice jazz. I think this is
(23:22):
jazz Delee and Katie, my producers today are doing a
wonderful job and they would love to talk to you,
so would I. Between the three of us, give us
a call. We are sitting here, We are ready, willing
and able to take your call. It'll give to Lee
and Katie something to do so they don't have to
Just listen to me, and they'll put you on and
(23:45):
I'll talk. Take it from there and talk to you
and we'll get your your your financial questions answered. Folks.
The phone lines are open one eight hundred talk WGY
one eight hundred eighty two five five nine four nine
one eight hundred eighty two, five fifty nine forty nine
any questions whatsoever. Thank you for hanging in through the
(24:08):
news and once again thank you for tuning in today
and every Saturday at ten Sunday mornings at eight. I
can't thank you enough. So, you know you had tech,
you know the finish off where I left off before
the news break. You had tech in AI stocks under pressure.
You know it could be a rotation away from AI
(24:30):
hype toward more defensive or value sectors. You know, listen.
I don't think that's the case. I think it's a
I think, to be honest, it could be a nice
little buying opportunity. To be honest, I think AI is
here to stay. I use it. If you're not using it,
(24:52):
you got to start using it. I mean, you just
have to start using it. It's going to be like toothpaste.
You got to brush your teeth every day. You're going
to get to a point where you are going to
need AI in your in your life because it's it's
it's amazing all that AI can can do for you
(25:13):
in the time. It can save you. Man, oh man,
it can almost make breakfast for you and put the
coffee on. You know, is is my buddy Michael Coca
down at Franklin Players said last night, AI listen. AI
can replace a lot of things, but it can't replace
me cooking. You know, I'm going to be cooking for
(25:35):
a long time. So that's the truth. AI can do
a lot of things, but it's it can't do everything.
So teching AI stocks are under pressure, a little rotation
out of risky assets like that and crypto crypto. Bitcoin
hit hard this week, really hard. Crypto off thirty percent
(25:59):
from it's high. I got giddy, as I teased you
before the news break. We nippled. We bought a little
bitcoin for our clients yesterday, first time that we put
bitcoin in our portfolios. Obviously, our more growth oriented clients
have a little bit more, our conservative clients have a
lot less. But we think this is a good entry point,
(26:23):
so we bought a little a little bitcoin in the portfolios.
We got a little a little excited about it. You
had some big names like Alphabet, which is Google. They
bucked a trend, you know, new product and AI releases.
Google had a pretty good week. So there's there's going
to be volatility, folks. Listen, crypto bitcoin can go to
(26:45):
seventy five. You know right now we're sitting at about
eighty five. I don't know what that means. It's aggressive,
it's volatile. Do not buy it unless you're willing to
have a nice roller coaster ride through time. But I
think the trend and I think we can make money
with crypto. That's what we're looking at long long term.
So be careful, rethink your your allocation to risk. Make
(27:10):
sure you're not taking on any more risk than you're
comfortable with. One eight hundred eight two five five nine
four nine. One eight hundred eight two five fifty nine
forty nine. Why don't we go to the phone lines
where we have Sal patiently waiting, Good morning, Sal Bi Sal.
(27:34):
You know, some idiots just want to be idiots. We're
we're a pretty decent show. Sal. If you want to
play games like a little kid, go play games with
like a little kid somewhere else, not not on this show.
One eight hundred eight two five fifty nine forty nine.
(27:56):
So you know, other than you know, the the risk
trade off out of tech AI crypto because of the
I said in the first half of the show, because
of the recent federal you know, I bet Sal was
was an insurance agent selling annudies that doesn't like the
fact that I don't like annuities. So maybe some of
(28:19):
his clients are calling him saying, so why are you
selling me that annudy? And how much money are you
making in commission? I don't know. I call it like
it as folks. That's just who I am. So, you know,
as I said before the shutdown or the news break
the government shutdown, you know a lot of a lot
(28:39):
of information that we used to get. It's delayed or canceled,
and that could cloud the view for the Federal Reserve.
That makes forecasting FED moves harder. Something worth flagging when
discussing interest rate risk in bond markets. If you're if
you're thinking about it, you have to have to know
(29:00):
that you know the FED right now, they are so
data dependent. They had their nose so so far into
the books of history that sometimes they get clouded. They
can't look. It's like they're they're driving in a fog.
They just can't see that clear picture because they are
so data dependent. And you know right now they're not
(29:23):
getting any data. So we'll see what happens. Actually, the
chances of a rate cut was at forty percent, and
we had some FED governors came out and said some
positive things. Now the chances of a FED cut are
at seventy percent. So I'm optimistic. I am optimistic on
(29:43):
the stock market. But folks, I'm always optimistic on the
stock market. I am always optimistic. If you look over time,
your average returning stocks, you know, is ten to twelve percent.
Your average return in bonds is a whole lot less.
And and you know, having stocks in your portfolio long term
(30:09):
is not a bad thing. You know. I gave you
the statistics last weekend. You know two out of the
last ten years were negative years for the stocks, one
of them was minimal. And you also had two years
that were negative for bonds. So just because you buy
bonds doesn't mean you won't lose money, just means that
(30:29):
you know you so often the volatility a little bit
one eight hundred eighty two five five, nine, four nine.
Let's go back to the phone lines. We have Chris
from Schenectady. Hello, Chris, good morning all. How were you
not too bad?
Speaker 2 (30:45):
It's the first time caller I listened to you every
time I was thinking my daughter down at soccer trips.
Today's one of those days, manding down to Jurn soccer.
She's a senior in ice cool at US talent. I said,
so you're on the road, let me see let these
get me. He's available. I'm fifty four years old, been
(31:09):
working in my whole life. And you know, when you're
raised the family, I don't have the opportunity and agreements
to do that. Plug away a good job and you
socked money and away when you a teen, and provide
for them as you can and as you get towards
the ending your career, all of the questions begins. Thought
about the time and the portfolios. No, well, one of
(31:30):
my questions is about healthcare because of the I don't
know I have. I'm not sure I was my job
in particular, or even just myself, not too inquisitive, not
too worried about it until obviously now at my age.
I just was wondering if you had like a little
(31:51):
synopsis about watch tacebook, I shad expected in the next
five to ten years and fifty four at sixty four?
So what happens madatory does? Does it automatically occur? Something
pulls on top of the regular house say, uh, what
are the what are the expected different? Something like that.
Speaker 1 (32:17):
Well, yeah, well, let me say this healthcare is a mess.
Believe me, I know. I talked to doctor Steve Hanks,
the CEO of Saint Peter's partner, last night. We had
a great, great conversation in a nutshell. You know, most
(32:41):
businesses can plan. Most businesses, you know, they know what
their their services or goods are going to cost, they
know what they can sell it at, they know, you
know what to expect in the healthcare industry. You know,
whether think about this. You know, hospitals have to take everybody,
(33:03):
and most times they don't get paid, and they never
know how many people are going to be coming through
that revolving door. And the costs that they can charge
are regulated, so they really don't have any any any control.
And we know that healthcare goes up more than inflation.
(33:24):
Why is that? I don't I don't know actuaries. You know,
US health spending is this year is going to be
close to six trillion dollars and over the next you know,
a few years, it can go up by by half
to almost nine trillion dollars. It's estimated. Hospitals is the
(33:47):
biggest slice. You know when when when you think about
the healthcare costs, they always outpace GDP. The affordability isn't
going away. How patient volumes in this country are probably
going to grow ten to eleven percent over the next
five years. We got aging patients. You got that cost
(34:10):
pressure that I just talked about. Now, the good news
is we have better technology, you know, minimally invasive procedures,
remote monitoring. More surgeries and infusions that used to require
and inpatient stay now will be done in ambulatory centers
or even at at home. So you have a lot
(34:32):
going on outside the traditional hospital, and in a way
that's good news, but you know, it's it's it's an
industry that's hard to pay. We don't know what the
cost is going to be. You just have to understand
you're going to pay. You know, you're going to pay
a lot for health care. People are paying a lot
(34:53):
for health care. Did I lose Chris christ I'm looking
all right, all right?
Speaker 2 (35:01):
When Medicare or Medicaid P I'm not sure which is
there are certain ages that must happen or can be
preferred or delay it, or or is it better not
to be.
Speaker 1 (35:15):
Yeah, sixty five, that's when you're eligible for Medicare, and
you have obviously Medicare Part A Hospital, Part B medical.
You can start enrolling about three months before you turn
sixty five, Chris, and three months after. So this is
going to give you a seven month window three months
before the month of your birthday, three months after called
(35:38):
the initial enrollment period. The exceptions if by chance, you
you're on Social Security disability for twenty four months, if
you have als lou Garrick's disease. Unfortunately, so many people
are affected about that Medicare actually starts immediately if by
(35:59):
change you have in stage renal disease and neat dialysis
transplant rules. There's exceptions. Medicare parts at sixty five. Part
A is usually free for you or your spouse if
you have you know, if you worked enough for work credits.
Part B you're gonna have a monthly premium. And then
(36:20):
there's Part D, the prescription drug coverage. I can tell
you I get as confused as anybody can get confused.
Thank god, we have a company and if you want,
you call my office, even though you're not a client,
they will give you the name of Aaron Nevians. Aaron
Nevians does a dynamite job for our clients. She explains it,
(36:44):
she walks them through it, she makes it easy. And
she does that for me because I'm collecting Medicare, So
now you know, I'm not a sprint chicken. But you know,
Medicare is confusing as heck healthcare is is just an unknown.
We just don't know. So they're there, there, there, there, Yeah,
(37:07):
you have it, you know, I guess you throw your
hands in the air and is is is? My wife,
Sue God bless her, used to say Steve, it is
what it is. So it is what it is. Chris.
Good luck to you.
Speaker 2 (37:24):
Thank you ladies.
Speaker 1 (37:26):
All right, careful driving and enjoy enjoy the time with
your daughter. One eight hundred eighty two five five nine
four nine one eight eight two five fifty nine forty nine.
So as I was saying, you know, we got the
government shutdown some key datas consumer sentiment, folks, we're close
(37:47):
to an all time low. I mean, it's it. It
fell in November. We got high prices, you got market jitters,
you got the government shut down, you got this, you
got that, You got holiday shopping season underway. You got
Black Friday, right, everybody's getting all excited about next Friday.
(38:10):
Thank god, the stores came to their senses and they
stopped opening on Thanksgiving night. Let people have Thanksgiving Day
to spend with their family and friends. Folks. There's no
reason why you should be rushing away from the dinner
table to go buy a TV or whatever. The heck,
most of the stuff you don't even need. There you
(38:30):
have it, folks, I just called you out right. How
many times do people go shopping and they buy things
they just don't need, or worse yet, just can't afford,
and that's even worse. Keep I promote often start a
Christmas club and start it for next Christmas. It's too
(38:51):
late for this Christmas, and put whatever you can afford
every week into it, and then next Christmas season, just
spend that Christmas club. Do not put any Christmas gifts
on your charge card. Do not do that. Do not
go further in debt paying twenty percent interest rate charges.
You're never going to get out of debt. And if anything, folks, listen,
(39:16):
a lot of you may be upset with me for
saying this. Do what a lot of families do. Instead
of buying something for everybody, usually useless stuff that nobody
will ever use. Pick a name out of a hat.
Will you buy from one person? And maybe you put
some thought into that? So much easier, so much better,
(39:39):
And think think of how much less wrapping you're going
to do. There's a lot of positives folks to being
logical about the holiday season, but consumer sentiment is done down,
and you know it could influence what happens this holiday season.
But I can guarantee a lot of people are going
(40:00):
to go out there and they're going to spend money
they don't have that they shouldn't spend just because they
think they have to. You don't have to, folks, you don't.
So Thursday, when you had the family around the table,
just throw it out there, say, hey, instead of us
buying something for everybody, what do you think about picking
(40:22):
one name out of the hat and let's make it
a special gift from one person. How much how much
nicer would that be? Folks? Anyway, there you go. I
don't want to act or sound like like your parent.
I don't want to be saying things I shouldn't say.
But I guess I said it. There you have it.
(40:44):
I said it, you know. So with the consumer sentiment dropping,
you know, remember the consumer makes up three quarters of
the GTP, almost sixty two thirds to seventy percent of
the GDP. In the GDP, all of that comes company earnings,
(41:04):
especially for retailers, consumer discretionary, big ticket items. You know
that all comes that, all comes from the consumer. So
we need that. And then on the inflation side of folks,
you know, folks, inflation right now after September reading, we're
(41:24):
at three percent year over year. The Fed wants a
two percent target. Now, remember I keep saying this, The
Fed got spoiled after the financial crisis of two thousand
and seven. In two thousand and nine, where inflation was
next to zero, a beautiful thing. The price of milk
(41:44):
and bread, gas heating bills did not go up hardly
at all. It was a beautiful time in history. Well,
the FED, I think, got a little spoiled. And even
though they look at that, and they look at his
historical numbers, the historical numbers over the last twenty five
fifty almost one hundred years, inflation averages over three percent.
(42:08):
So why do they want a target of two? Well,
they think two can be a sustainable thing. I think
it's unrealistic. But I'm not an economist. I have two
economists as part of my team, and I listen to
what they had to say, but I challenge them on
most of what they have to say. These economists are
trained to say this. But on the other hand, it's
(42:31):
that there's never a direct, direct, direct question. I tell
my investment team, commit yourself to a decision and make it.
It may not always be the right decision, and maybe
we buy into something that we sell out of soon thereafter.
That's okay if we're doing it for good reasons. But
(42:53):
economists is President Truman said, I've never seen a two
handed economist. I mean, I'm sorry, I've never seen the
one handed economists, because every economist it's on one hand
it's this, and on one hand it's that. So right now,
inflation three percent, and we'll see what happens when when
(43:14):
we get the latest reason readings, which will be after
the fact until this government gets opened up. So there
you have it, folks, that's kind of what's what's what's
what's going on? As I said, we took advantage of
the volatility, and you know, don't don't don't be afraid
to take advantage of volatility, folks. Let me give out
(43:38):
the phone numbers one more time. One eight hundred eighty two,
five five nine four nine, one eight hundred eighty two,
five fifty nine forty nine. So this is what my
investment committee thought of and executed. One first and foremost.
There's a lot of noise in the headlines. Teriffs, labor markets,
(43:58):
interest rates, artificial intelligence markets have held up pretty well, folks.
The recent pullback created an opportunity to make some strategic adjustments.
It's a beautiful thing. Volatility. Do not get scared. So
what we did for our clients because we had a
(44:20):
lot of holdings that grew over time, and we took
the opportunity to rebalance, especially with a lot of our
holdings at or near all time highs. So for instance,
if ABC stock had a five percent waiting and it
grew to seven or eight or nine percent, we brought
it back to five percent. You know, rebalancing is a
(44:43):
discipline way to reduce the overweight positions. We did that.
We controlled the risk and the portfolios, and we locked
in some gains. We sold out of our healthcare it
had a great run. You know, over time performances lagged,
and we like healthcare. It's a good defensive holding, but
we felt those dollars could be allocated more in let's
(45:06):
say higher opportunity areas, especially now with the buying opportunity.
So you hear me talk about AI artificial intelligence, and
we we we we took advantage. We got Navidia, I
think down eighteen percent ear to date, it's up thirty
five percent, but it's off it's high. So we bought
(45:27):
a semiconductor ETF with exposures to companies like Navidia, which
are essential to AI. You know, if you look at
and the symbol, I'll give out the symbol sm H.
It's a van X Semiconductor ETF. N Vidia is the
number one waiting eighteen percent of the fund is the Vidia.
(45:49):
So we very seldom will we buy individual stocks. So
we like AI. So we found a ETF that we
feel is focused towards AI and that's why we bought
this SMH. So the video makes up eighteen percent of it.
You got Taiwan Semiconductor almost ten percent, Broadcom almost eight percent,
(46:11):
Micron Technology seven percent, AMD Advanced micro Devices almost seven percent.
That's a beautiful portfolio. Nice focused on AI companies. We
don't have to guess which company we think will will
be the best. We just don't know that. No, no,
nobody knows that. We just don't know what that is.
(46:36):
I can't believe we're coming up to the end of
the show. Folks. You're gonna have to come back tomorrow
morning to hear the rest of what we did, because
I'm excited about what we did, and you're gonna have
to come back tomorrow morning to hear what I'm going
to do for our little friend Lily, the five year
old that stole my heart, who is fighting cancer like
(46:57):
nobody else is fighting cancer. Child should go through what
Lily is going through, and I'm gonna do my best
to help her and her mom and give back. Giving
back feels good. I'm gonna do my best. But for now,
you're listening to Let's Talk Money, brought to you by
BOUCHETF and Andrew, where we help our clients prioritize their
(47:17):
health while we manage their wealth for life. I got
some good stuff that I still want to talk to
you about. We'll have to do that tomorrow. I hope
you're able to come back tomorrow. In the meantime, enjoy
this day. Thanksgiving is coming up, Christmas after that, and
after that we're gonna get a lot of snow in
cold weather. So enjoy this weekend. I can't thank you
(47:39):
enough for tuning in. Come back tomorrow. Go to our
website in the meantime, Bouche dot com. Be well, folks,
stay healthy. Thank you for tuning in.
I like this music. Hello everybody, I'm Stephen Bouchet, sitting
here with you today, A little chilly out and I
know the worst is yet to come. I was up
and out early seven point thirty, walked to Stewart's, got
my papers, went to Starbucks, got a coffee, went to
Sweet Mimi He's got some breakfast, and boy, you know
(00:26):
I need to dress a little bit warmer. I guess well.
I can't thank you enough for taking time out of
your day to tune in as you do every week.
I can't begin to tell you you've made this show
probably in my mind, the best, the best talk show
relating to money, investments, financial planning, and so forth out
(00:49):
there in the whole country. I think we have what,
in my mind is the best show, and it's because
of you, the listening audience, taking time out of your
day to hear what I or one of my colleagues
have to say. And we have a lot to say,
especially today, I have a lot to say. But I
can't thank you enough. So let me start off by
(01:11):
saying thank you. You can never say thank you enough.
I truly appreciate you tuning in one eight hundred talk
WGY that's one eight hundred eight two five five nine
four nine. I have Dalia and Katie my producers today,
So between the three of us, we would love for
(01:32):
you to call in and ask any questions you have.
I'll do my best to give you my honest opinion.
And believe me, folks, you may not always like my opinion,
but it'll come from my heart and from my experience,
and I will give you the absolute most honest opinion
I can ever ever give you. One eight hundred eight two,
(01:54):
five fifty nine forty nine are our phone numbers today,
And as they said, any questions, any questions whatsoever, give
me a call. So it was quite the week right.
Investors awaited Navidia earnings. As the week began, Bitcoin fell
below ninety thousand for the first time in seven months,
(02:15):
and it even fell deeper than that. It was close
to eighty thousand at one point. Stocks sold off. Tuesday,
Navidia lost about three percent ahead of Wednesday's earnings, called
Navidia earnings, then Blue passed expectations left everybody behind in
the dust, as CEO Jensen Wang dismissed bubble talk in
(02:37):
delayed September Jobs day to beat expectations. Because of the
government shutdown, a lot of these reports that we used
to get like clockwork are coming in a little bit late.
So you know, for the week, it wasn't a pretty week.
The dial down one point nine percent, SMP off two percent,
Nanstack off two point seven percent. Not a pretty week
(03:00):
at all. What can I say, folks, You can't have
a great week every week. You got to have some
some down weeks. Here to date, though, keep it in perspective.
S and P is up twelve point three percent, with
dividends over thirteen percent. You got the NASDAK composite and
QQQ the NANSDAK one hundred, so when you buy Nasdaq
(03:21):
via QQQ, you're buying the NANSDAK one hundred, both up
about fifteen point three percent, and even the Russell two thousand,
the mid cap small cap index is up about six
point three percent. So there you have it. You know,
here to date we're doing okay. We gave some back.
You hear me say often volatility creates opportunity, and listen,
(03:46):
we we lived by that. So we made some amazing
trades yesterday my investment committee and I'll get more into
this later in the show we took advantage of the volatility.
We're not a Hey listen, we're not afraid of a
little volatility. We actually get excited and giddy over it,
and so should you. If you're a long term investor,
(04:08):
Do not get do not get scared when you see
the markets, you know, have a little bump in the
road here or there, or a little correction. It comes
with the territory. Just forget about it. Forget you even
own stocks during those times. Go out, walk around, get
some fresh air. Just don't look at your holdings every second,
(04:29):
every minute, every hour, every day. Heck, to be honest,
So here we are almost Thanksgiving ten and a half,
almost eleven completed months into twenty twenty five. I don't
think I've looked at my portfolios, my personal portfolios more
(04:49):
than a handful of times. No more than a handful
of times. And usually those times are like in April
when the market was down twenty percent. I'll go into
my sandbox counts and I take advantage of it. I
look into the cookie jar, I look under the mattress.
I look for wherever I have some cash, and I
try to get it invested. And no different, you know,
(05:12):
Friday and Monday. I'm telling you, I'm going in and
I'm buying in my sandbox accounts. I'm going to take
advantage of this volatility. When I tell you, when there's
blood in the street, that's when the really discipline investors
make money. They don't make money getting scared out of
the markets. They don't make money selling their holdings because
(05:35):
they can't risk losing any more money. You don't lose
anything if you don't sell, folks, it's just on paper.
Paper's cheap, it's gonna be a throwaway commodity. But once
you sell, now you realize those losses. So don't sell
if anything, you know, maybe get out of some dogs,
(05:55):
maybe get into some areas that have come down. That's
what we did on Friday, my investment team, they went
to town. They made eleven hundred trades, eleven hundred accounts
they traded on because we have some clients obviously, you know,
you know, a typical client could husband, wife have or
(06:16):
partner and partner could have an IRA account each, maybe
a roth IRA account as well. So there's four accounts.
The trades we made yesterday were just in our qualified
accounts that are not taxable that's where we're a little
bit more tactical, and we'll make a little bit more
(06:37):
moves than we will in our tax manage portfolios. So
we're a little bit more active in those portfolios that
we don't have to worry about tax councilquences. And that's
what we did. That's what we did, so you know,
all in all, it was a good opportunity to get
into some areas for the week. Companies like Walt Disney
(06:57):
ended it standoff with YouTube after just over two weeks.
You have bankrupt opioid maker Purdue Farmer reached the seven
point five billion dollars settlement, requiring its former owners, the
Sackler family, to pay up the six point five billion
to victims. Purdue will transfer most of its assets to
(07:18):
a new company. Noah Farmer. Elon Musk's X and he
and the president are buddy, buddy. Now did you see
that Elon Musk's X ais and talks to raise about
fifteen billion dollars that's billion with a B, for a
total of about a two hundred and thirty billion dollar valuation.
(07:38):
You got a US District jug judge said Meta Platforms,
which is Facebook acquisitions of Instagram and WhatsApp did not
stifle social media competition, So I guess that's here to stay.
This coming week, we got third quarter earning season winding down.
It's been a hectic third quarter. We had about ninety
(08:01):
five percent of those five hundred companies in the SMP
have reported results, more than eighty percent of them having
beaten earnings per share estimates and about seventy five percent
surpassing sales expectations. So listen every quarter, you know, I
see the bad news bears. Oh, it's gonna be a
(08:22):
bad quarter. TERFs are gonna hurt the profits of these companies.
These companies are gonna sinc Yeahbi David do folks, it's noise,
what we call noise in the marketplace. Forget about it.
Forget don't tune them out. Put on your favorite your
your your favorite playlist, listen to some music. I don't
(08:42):
care what you do. Just don't listen to the bad
news bears. They'll just ruin your day and ruin your
your discipline and having a good portfolio, well balanced portfolio.
So next week we're gonna have Agilean Technology, Zoom Communications
on Monday, and then you have some other companies like
(09:02):
Analog Devices, Autodestell, Workday, you get it. John Deere has
a conference call to discuss their earnings on Wednesday, and
you know you heard me say, no secret right, government
shutdown is out. Those darn Republicans and Democrats. I'm gonna
(09:23):
I'm not blaming one side of the other. Folks in Washington.
You need to come together. You gotta compromise, you have
to negotiate. You have to do what's right for the people.
We are the people, We are the constituents that they're
supposed to be looking out for. Come on, guys and gals,
get off, stop stop making a political and get this
(09:47):
government shut down moving, get the country back on the map.
And enough of this government shutdown talk. There should never
be there should never be a pump in the road
because of a government shut down. But you know, because
of that, there's a lot of delays in the reports
that come out. Even if FED they're not going to
(10:09):
have one of their favorite reports on inflation because they
the BLS just can't get the numbers out there. You
have it, you know. So the FEDS are meeting December
ninth and tenth, and the biggest report on inflation doesn't
come out till December eighteenth, So they're just gonna, you know,
I guess, put wet their finger, put it up in
(10:30):
the wind, and see what direction they're going to go in.
We'll see their data depending. So what are they going
to do without data? I don't know. We'll see what
they do without data, you know. The Census Bureau on
Tuesday reports retail sales for September August Retail sales rose
about six tenths of a month over month to seven
(10:53):
one hundred and thirty two billion. And Thursday, Thanksgiving, Happy Thanksgiving, folks.
Equity and fixed income markets are closed for the holiday,
and Friday is going to be a soft day. It
always is, you know. One of the markets is closed
half a day. So there you have it. We're gonna
have a shortened holiday week, but nevertheless, it is a
(11:15):
holiday week. It's Thanksgiving. Happy Thanksgiving. One eight hundred eight
two five five nine four nine one eight hundred eighty
two five fifty nine forty nine. Let me take a
quick break. Don't go anywhere, folks. Hey, folks, I'm sorry,
believe me, I'm live today. That's an old spot. We
(11:36):
did we we we we just had an unbelievable webinar,
and we share everything, folks. I'm like an open book.
We share everything. So everything's on our website. If you
go to Bouchet dot com, you'll see down at the
bottom we put up you know, like our latest webinar.
You're in tax planning, you know we got Pollopiez he's
(12:00):
on my investment committee. Has a nice white paper on
the artificial intelligence arms race. You know we that that
seminar that we just spoke about that's up there. You had,
you know some it's some good information. This past week
(12:23):
we did a nice little seminar Ryan, Katie Bunk and
Jim Lebrue, who is the managing partner of the Brewe
Law firm. It's more than le Brew. It's Lebrew Rowland's Oh,
I can't think of the other two names. I apologize.
So you know there's a lot of good stuff on
(12:44):
our website. Go to our website. Not now, listen to
me for the next for the next forty minutes, but
after that, when you when you're hanging around having that
second cup of coffee, go to our website, Bouchet dot com.
In the meantime, if you have questions, regarding your portfolio,
give me a call one eight hundred talk WGY one
(13:05):
eight hundred eighty two five five nine four nine one
eight hundred eighty two five fifty nine forty nine. So
on a personal note, last night, I went to you know,
I'd like to support different things in the community. And
I went to the Saint Peter's Galla down at Franklin Plazas,
just me in six hundred and fifty to seven hundred
(13:28):
other uh people who who get back in the community.
And it was a great party, a great party. But
you know, something touched my heart this this this past week.
I talked about it. Over the summer, I went to
a fundraiser at the Village Pizzeria in restaurant. And if
(13:49):
you haven't been to the Village Pizzaia in restaurant, folks,
go to the Village Pizzaia in restaurant. It's only exactly
twelve miles. Take a left at Starbucks in downtowns are Toga,
exactly twelve miles going out Route twenty nine towards Amsterdam.
(14:11):
It's it's it's a who. I talked to Michael Cocoa
about it last night, he says, Steve, he says, I
met Sandra Foster, the owner of of of it, and
I can't believe she calls herself village Pizzerian restaurant. But
she has like a wine spectator list to to that
(14:34):
that people would love to have, love to have, and
you know many menu items that that that are second
to none. I have to go out there, I said, absolutely,
it's in Middle Grove. You you you absolutely have to
(14:55):
have to go out there. It's it's like amazing not
Middle Grove. Oh my god, oh god, oh god. Hold on, folks,
I got to put it in my map. Let's see.
Where is it? Village Pizzaia. Oh my god, Oh well,
(15:22):
I'm going to have I'm going to have a heart. No,
it is Middle Grove. I'm sorry. I was right. It
is Middle grow It's one heck of a place. But
I went to a fundraiser over the summer Joe Carr,
Joseph Carr, Josh Cellar Wines and Joseph Carr Wins was
like the guest speaker, and there was this little girl
who stole my heart, five years old, who the fundraiser
(15:46):
was for. Lily is her name, and she's been fighting
cancer and you know, you heard me talk about my
I took a little sabbatical in October, went to the
Vatican set confession for the first time, I think since
I was eight years old. And then at the end
of the trip, I went to Montserrat, Spain, a thousand
(16:08):
year old monastery, and sat down with the padre in
the courtyard. I saw a chair, I saw padre. I
sat down for about a half hour. I got everything
else off my chest. It was I'm not a boy scout.
I had some things that I had to get off
my chest. And at the end I asked them. I said, Padre,
I said, help me my mission in life now, I said,
(16:31):
I have a new lease on life and I don't
want to blow it. And one of the things I
want to really do is help others. I want to
be able to help people, So help me do that.
I got my first sign Lily who stole my heart
over the summer. I read last week that she rang
the bell had her last chemo treatment. But then but
(16:54):
then I read that beginning December eighth, for five weeks,
every day her mother is driving her back and forth
to New York City for a radiation treatments. This little girl,
five years old. If you see a picture of her,
if you're on Facebook, just look for Lily fights cancer
and you'll see what I mean. Your heart will will
(17:16):
go out to Lily. So I that's a sign. I
can't let Lily and her mom drive back and forth.
They need to be back home every night in Amsterdam
because they have a little you know, Lily has a
big brother, Noah, who's seven years old. And you know,
(17:36):
I get tired of just taking the train to New
York City. So somehow, someway I got to do something
about that. I have to help I have to help
Lily and her mom out. So stay tuned tomorrow. I
may have some good news for you on ways that
I plan on helping out the family. So come back
tomorrow morning. I'm going to be back on at eight
(17:58):
and I'll tell you what I'm going to to You know,
it makes me feel good to do good things, and
I hope I can just be kind, be kind, be kind,
and just look for for for good good things to
do for good people. One eight hundred eighty two five
five nine four nine one eight hundred eighty two five
(18:19):
fifty nine forty nine. So let's talk about some investment themes.
I mean, that's what you're tuned in for. We got
tech in a high stocks under pressure, and I love it.
You're gonna know why I love it after the news
because you know my investment team. Wow, I think they're
going to make some dynamic moves that are going to
(18:42):
make some good money for our clients without adding risk
to the portfolio. We are always looking. We are always
looking to make money for clients without taking too much
risk and using the most inexpensive cost investment products that
we can find. I say that because in the nutshell,
(19:02):
then nudies have internal management fees of about three percent.
So when you're favorite and usually it's your favorite family
friend or family member who wants to say in annudy
because it's guaranteed when you die, your beneficiaries get one
hundred percent of what you put in, even if the
market's down. That sounds good, But do you really want
to die to take advantage of that guarantee? I don't
(19:26):
you know. That's not the kind of guarantee I want.
I want other guarantees. I like the guarantees i'd give you.
I guarantee you the markets will go up and down,
up and down, up, and down, and the market has
always come back and gone on to make new all
time highs. If you take that advice, and that advice alone,
you're you're never going to lose money long term because
(19:46):
you're not going to be scared out of the markets,
and you don't need to buy expensive investments like annudies
for their guarantees and there's other guarantees that come with it.
And I'm not saying annudies aren't for everybody, but they're
not for most people. Mutual funds the average annual fee
is about one percent. It used to be more. They're
(20:06):
coming down and ETFs exchange trade of funds, so we
as you know, we just pass them one point five
billion with the b milestone. We manage over one point
five billion dollars and we managed every investment we have
is an exchange traded fund. And our core holdings are
(20:27):
point zero three percent, folks. That's point zero three percent
compared to one percent. Mutual funds are three percent annuities.
Our total portfolio all in is less than point two
zero percent, So we believe in exchange trade of funds.
We only have two individual stocks, Apple and Amazon. I'm
(20:50):
glad to say because it's brought our clients some nice
profits and some days you know, they're down more than
the market, but over time they do good. I believe
in those companies. So there you have it. We manage
a lot of money professionally, and we're not buying and
selling stocks, creating a lot of activity in your portfolios.
(21:11):
One eight hundred eight two five five nine four nine,
one eight hundred eighty two five fifty nine forty nine.
So this week, you know, the US index has ended
the week lower, despite a little bit of a bump
on Friday, a little rebound caution, and in tech and
(21:31):
AI heavy names, some risk has come off the table.
Let's say, even crypto. I mean bitcoin was one hundred
and twenty thousand, not too long ago. You heard me
say when it was one hundred and eight thousand. If
you always wanted to get into it, you know, now
might be a good time to buy into it. Well
I was wrong, I get wrong. Sometimes it came back
(21:52):
down to under eighty five thousand. It actually touched close
to eighty thousand. So I also told you we don't
buy bitcoin for our clients, except now we bought bitcoin.
I'll tell you in the second half of the show
what we did for our clients. I think bitcoin at
this price is a good price. Now I could be
(22:14):
wrong again. Maybe it'll go down on the seventy five
or sixty five. I don't know. I do know bitcoin
is here to stay. You're going to start seeing it
in pension plan retirement accounts for owen k's. It's being regulated.
This administration supports it. So we finally said, hey, let's
add a little bit. Let's put it in the portfolios. Folks,
(22:38):
we got so much to talk about. What we're coming
up to the bottom of the hour, and you are
listening to Let's talk money, brought to you by Bouchet
and Andrew Group, where we help our clients prioritize their
health while we manage their wealth for life. Don't go anywhere,
Stay with me through the news. Go to our website
if you want Bouchet dot com b as in boy
(22:58):
Ouche com. But in the meantime, the phone lines are open.
One eight hundred eight two five five nine four nine.
That's one eight hundred eight two five fifty nine forty nine.
Any questions whatsoever, folks, give me a call. I'll see
you on the other side of the news. Break. Sometimes
I like listening some nice jazz. I think this is
(23:22):
jazz Delee and Katie, my producers today are doing a
wonderful job and they would love to talk to you,
so would I. Between the three of us, give us
a call. We are sitting here, We are ready, willing
and able to take your call. It'll give to Lee
and Katie something to do so they don't have to
Just listen to me, and they'll put you on and
(23:45):
I'll talk. Take it from there and talk to you
and we'll get your your your financial questions answered. Folks.
The phone lines are open one eight hundred talk WGY
one eight hundred eighty two five five nine four nine
one eight hundred eighty two, five fifty nine forty nine
any questions whatsoever. Thank you for hanging in through the
(24:08):
news and once again thank you for tuning in today
and every Saturday at ten Sunday mornings at eight. I
can't thank you enough. So, you know you had tech,
you know the finish off where I left off before
the news break. You had tech in AI stocks under pressure.
You know it could be a rotation away from AI
(24:30):
hype toward more defensive or value sectors. You know, listen.
I don't think that's the case. I think it's a
I think, to be honest, it could be a nice
little buying opportunity. To be honest, I think AI is
here to stay. I use it. If you're not using it,
(24:52):
you got to start using it. I mean, you just
have to start using it. It's going to be like toothpaste.
You got to brush your teeth every day. You're going
to get to a point where you are going to
need AI in your in your life because it's it's
it's amazing all that AI can can do for you
(25:13):
in the time. It can save you. Man, oh man,
it can almost make breakfast for you and put the
coffee on. You know, is is my buddy Michael Coca
down at Franklin Players said last night, AI listen. AI
can replace a lot of things, but it can't replace
me cooking. You know, I'm going to be cooking for
(25:35):
a long time. So that's the truth. AI can do
a lot of things, but it's it can't do everything.
So teching AI stocks are under pressure, a little rotation
out of risky assets like that and crypto crypto. Bitcoin
hit hard this week, really hard. Crypto off thirty percent
(25:59):
from it's high. I got giddy, as I teased you
before the news break. We nippled. We bought a little
bitcoin for our clients yesterday, first time that we put
bitcoin in our portfolios. Obviously, our more growth oriented clients
have a little bit more, our conservative clients have a
lot less. But we think this is a good entry point,
(26:23):
so we bought a little a little bitcoin in the portfolios.
We got a little a little excited about it. You
had some big names like Alphabet, which is Google. They
bucked a trend, you know, new product and AI releases.
Google had a pretty good week. So there's there's going
to be volatility, folks. Listen, crypto bitcoin can go to
(26:45):
seventy five. You know right now we're sitting at about
eighty five. I don't know what that means. It's aggressive,
it's volatile. Do not buy it unless you're willing to
have a nice roller coaster ride through time. But I
think the trend and I think we can make money
with crypto. That's what we're looking at long long term.
So be careful, rethink your your allocation to risk. Make
(27:10):
sure you're not taking on any more risk than you're
comfortable with. One eight hundred eight two five five nine
four nine. One eight hundred eight two five fifty nine
forty nine. Why don't we go to the phone lines
where we have Sal patiently waiting, Good morning, Sal Bi Sal.
(27:34):
You know, some idiots just want to be idiots. We're
we're a pretty decent show. Sal. If you want to
play games like a little kid, go play games with
like a little kid somewhere else, not not on this show.
One eight hundred eight two five fifty nine forty nine.
(27:56):
So you know, other than you know, the the risk
trade off out of tech AI crypto because of the
I said in the first half of the show, because
of the recent federal you know, I bet Sal was
was an insurance agent selling annudies that doesn't like the
fact that I don't like annuities. So maybe some of
(28:19):
his clients are calling him saying, so why are you
selling me that annudy? And how much money are you
making in commission? I don't know. I call it like
it as folks. That's just who I am. So, you know,
as I said before the shutdown or the news break
the government shutdown, you know a lot of a lot
(28:39):
of information that we used to get. It's delayed or canceled,
and that could cloud the view for the Federal Reserve.
That makes forecasting FED moves harder. Something worth flagging when
discussing interest rate risk in bond markets. If you're if
you're thinking about it, you have to have to know
(29:00):
that you know the FED right now, they are so
data dependent. They had their nose so so far into
the books of history that sometimes they get clouded. They
can't look. It's like they're they're driving in a fog.
They just can't see that clear picture because they are
so data dependent. And you know right now they're not
(29:23):
getting any data. So we'll see what happens. Actually, the
chances of a rate cut was at forty percent, and
we had some FED governors came out and said some
positive things. Now the chances of a FED cut are
at seventy percent. So I'm optimistic. I am optimistic on
(29:43):
the stock market. But folks, I'm always optimistic on the
stock market. I am always optimistic. If you look over time,
your average returning stocks, you know, is ten to twelve percent.
Your average return in bonds is a whole lot less.
And and you know, having stocks in your portfolio long term
(30:09):
is not a bad thing. You know. I gave you
the statistics last weekend. You know two out of the
last ten years were negative years for the stocks, one
of them was minimal. And you also had two years
that were negative for bonds. So just because you buy
bonds doesn't mean you won't lose money, just means that
(30:29):
you know you so often the volatility a little bit
one eight hundred eighty two five five, nine, four nine.
Let's go back to the phone lines. We have Chris
from Schenectady. Hello, Chris, good morning all. How were you
not too bad?
Speaker 2 (30:45):
It's the first time caller I listened to you every
time I was thinking my daughter down at soccer trips.
Today's one of those days, manding down to Jurn soccer.
She's a senior in ice cool at US talent. I said,
so you're on the road, let me see let these
get me. He's available. I'm fifty four years old, been
(31:09):
working in my whole life. And you know, when you're
raised the family, I don't have the opportunity and agreements
to do that. Plug away a good job and you
socked money and away when you a teen, and provide
for them as you can and as you get towards
the ending your career, all of the questions begins. Thought
about the time and the portfolios. No, well, one of
(31:30):
my questions is about healthcare because of the I don't
know I have. I'm not sure I was my job
in particular, or even just myself, not too inquisitive, not
too worried about it until obviously now at my age.
I just was wondering if you had like a little
(31:51):
synopsis about watch tacebook, I shad expected in the next
five to ten years and fifty four at sixty four?
So what happens madatory does? Does it automatically occur? Something
pulls on top of the regular house say, uh, what
are the what are the expected different? Something like that.
Speaker 1 (32:17):
Well, yeah, well, let me say this healthcare is a mess.
Believe me, I know. I talked to doctor Steve Hanks,
the CEO of Saint Peter's partner, last night. We had
a great, great conversation in a nutshell. You know, most
(32:41):
businesses can plan. Most businesses, you know, they know what
their their services or goods are going to cost, they
know what they can sell it at, they know, you
know what to expect in the healthcare industry. You know,
whether think about this. You know, hospitals have to take everybody,
(33:03):
and most times they don't get paid, and they never
know how many people are going to be coming through
that revolving door. And the costs that they can charge
are regulated, so they really don't have any any any control.
And we know that healthcare goes up more than inflation.
(33:24):
Why is that? I don't I don't know actuaries. You know,
US health spending is this year is going to be
close to six trillion dollars and over the next you know,
a few years, it can go up by by half
to almost nine trillion dollars. It's estimated. Hospitals is the
(33:47):
biggest slice. You know when when when you think about
the healthcare costs, they always outpace GDP. The affordability isn't
going away. How patient volumes in this country are probably
going to grow ten to eleven percent over the next
five years. We got aging patients. You got that cost
(34:10):
pressure that I just talked about. Now, the good news
is we have better technology, you know, minimally invasive procedures,
remote monitoring. More surgeries and infusions that used to require
and inpatient stay now will be done in ambulatory centers
or even at at home. So you have a lot
(34:32):
going on outside the traditional hospital, and in a way
that's good news, but you know, it's it's it's an
industry that's hard to pay. We don't know what the
cost is going to be. You just have to understand
you're going to pay. You know, you're going to pay
a lot for health care. People are paying a lot
(34:53):
for health care. Did I lose Chris christ I'm looking
all right, all right?
Speaker 2 (35:01):
When Medicare or Medicaid P I'm not sure which is
there are certain ages that must happen or can be
preferred or delay it, or or is it better not
to be.
Speaker 1 (35:15):
Yeah, sixty five, that's when you're eligible for Medicare, and
you have obviously Medicare Part A Hospital, Part B medical.
You can start enrolling about three months before you turn
sixty five, Chris, and three months after. So this is
going to give you a seven month window three months
before the month of your birthday, three months after called
(35:38):
the initial enrollment period. The exceptions if by chance, you
you're on Social Security disability for twenty four months, if
you have als lou Garrick's disease. Unfortunately, so many people
are affected about that Medicare actually starts immediately if by
(35:59):
change you have in stage renal disease and neat dialysis
transplant rules. There's exceptions. Medicare parts at sixty five. Part
A is usually free for you or your spouse if
you have you know, if you worked enough for work credits.
Part B you're gonna have a monthly premium. And then
(36:20):
there's Part D, the prescription drug coverage. I can tell
you I get as confused as anybody can get confused.
Thank god, we have a company and if you want,
you call my office, even though you're not a client,
they will give you the name of Aaron Nevians. Aaron
Nevians does a dynamite job for our clients. She explains it,
(36:44):
she walks them through it, she makes it easy. And
she does that for me because I'm collecting Medicare, So
now you know, I'm not a sprint chicken. But you know,
Medicare is confusing as heck healthcare is is just an unknown.
We just don't know. So they're there, there, there, there, Yeah,
(37:07):
you have it, you know, I guess you throw your
hands in the air and is is is? My wife,
Sue God bless her, used to say Steve, it is
what it is. So it is what it is. Chris.
Good luck to you.
Speaker 2 (37:24):
Thank you ladies.
Speaker 1 (37:26):
All right, careful driving and enjoy enjoy the time with
your daughter. One eight hundred eighty two five five nine
four nine one eight eight two five fifty nine forty nine.
So as I was saying, you know, we got the
government shutdown some key datas consumer sentiment, folks, we're close
(37:47):
to an all time low. I mean, it's it. It
fell in November. We got high prices, you got market jitters,
you got the government shut down, you got this, you
got that, You got holiday shopping season underway. You got
Black Friday, right, everybody's getting all excited about next Friday.
(38:10):
Thank god, the stores came to their senses and they
stopped opening on Thanksgiving night. Let people have Thanksgiving Day
to spend with their family and friends. Folks. There's no
reason why you should be rushing away from the dinner
table to go buy a TV or whatever. The heck,
most of the stuff you don't even need. There you
(38:30):
have it, folks, I just called you out right. How
many times do people go shopping and they buy things
they just don't need, or worse yet, just can't afford,
and that's even worse. Keep I promote often start a
Christmas club and start it for next Christmas. It's too
(38:51):
late for this Christmas, and put whatever you can afford
every week into it, and then next Christmas season, just
spend that Christmas club. Do not put any Christmas gifts
on your charge card. Do not do that. Do not
go further in debt paying twenty percent interest rate charges.
You're never going to get out of debt. And if anything, folks, listen,
(39:16):
a lot of you may be upset with me for
saying this. Do what a lot of families do. Instead
of buying something for everybody, usually useless stuff that nobody
will ever use. Pick a name out of a hat.
Will you buy from one person? And maybe you put
some thought into that? So much easier, so much better,
(39:39):
And think think of how much less wrapping you're going
to do. There's a lot of positives folks to being
logical about the holiday season, but consumer sentiment is done down,
and you know it could influence what happens this holiday season.
But I can guarantee a lot of people are going
(40:00):
to go out there and they're going to spend money
they don't have that they shouldn't spend just because they
think they have to. You don't have to, folks, you don't.
So Thursday, when you had the family around the table,
just throw it out there, say, hey, instead of us
buying something for everybody, what do you think about picking
(40:22):
one name out of the hat and let's make it
a special gift from one person. How much how much
nicer would that be? Folks? Anyway, there you go. I
don't want to act or sound like like your parent.
I don't want to be saying things I shouldn't say.
But I guess I said it. There you have it.
(40:44):
I said it, you know. So with the consumer sentiment dropping,
you know, remember the consumer makes up three quarters of
the GTP, almost sixty two thirds to seventy percent of
the GDP. In the GDP, all of that comes company earnings,
(41:04):
especially for retailers, consumer discretionary, big ticket items. You know
that all comes that, all comes from the consumer. So
we need that. And then on the inflation side of folks,
you know, folks, inflation right now after September reading, we're
(41:24):
at three percent year over year. The Fed wants a
two percent target. Now, remember I keep saying this, The
Fed got spoiled after the financial crisis of two thousand
and seven. In two thousand and nine, where inflation was
next to zero, a beautiful thing. The price of milk
(41:44):
and bread, gas heating bills did not go up hardly
at all. It was a beautiful time in history. Well,
the FED, I think, got a little spoiled. And even
though they look at that, and they look at his
historical numbers, the historical numbers over the last twenty five
fifty almost one hundred years, inflation averages over three percent.
(42:08):
So why do they want a target of two? Well,
they think two can be a sustainable thing. I think
it's unrealistic. But I'm not an economist. I have two
economists as part of my team, and I listen to
what they had to say, but I challenge them on
most of what they have to say. These economists are
trained to say this. But on the other hand, it's
(42:31):
that there's never a direct, direct, direct question. I tell
my investment team, commit yourself to a decision and make it.
It may not always be the right decision, and maybe
we buy into something that we sell out of soon thereafter.
That's okay if we're doing it for good reasons. But
(42:53):
economists is President Truman said, I've never seen a two
handed economist. I mean, I'm sorry, I've never seen the
one handed economists, because every economist it's on one hand
it's this, and on one hand it's that. So right now,
inflation three percent, and we'll see what happens when when
(43:14):
we get the latest reason readings, which will be after
the fact until this government gets opened up. So there
you have it, folks, that's kind of what's what's what's
what's going on? As I said, we took advantage of
the volatility, and you know, don't don't don't be afraid
to take advantage of volatility, folks. Let me give out
(43:38):
the phone numbers one more time. One eight hundred eighty two,
five five nine four nine, one eight hundred eighty two,
five fifty nine forty nine. So this is what my
investment committee thought of and executed. One first and foremost.
There's a lot of noise in the headlines. Teriffs, labor markets,
(43:58):
interest rates, artificial intelligence markets have held up pretty well, folks.
The recent pullback created an opportunity to make some strategic adjustments.
It's a beautiful thing. Volatility. Do not get scared. So
what we did for our clients because we had a
(44:20):
lot of holdings that grew over time, and we took
the opportunity to rebalance, especially with a lot of our
holdings at or near all time highs. So for instance,
if ABC stock had a five percent waiting and it
grew to seven or eight or nine percent, we brought
it back to five percent. You know, rebalancing is a
(44:43):
discipline way to reduce the overweight positions. We did that.
We controlled the risk and the portfolios, and we locked
in some gains. We sold out of our healthcare it
had a great run. You know, over time performances lagged,
and we like healthcare. It's a good defensive holding, but
we felt those dollars could be allocated more in let's
(45:06):
say higher opportunity areas, especially now with the buying opportunity.
So you hear me talk about AI artificial intelligence, and
we we we we took advantage. We got Navidia, I
think down eighteen percent ear to date, it's up thirty
five percent, but it's off it's high. So we bought
(45:27):
a semiconductor ETF with exposures to companies like Navidia, which
are essential to AI. You know, if you look at
and the symbol, I'll give out the symbol sm H.
It's a van X Semiconductor ETF. N Vidia is the
number one waiting eighteen percent of the fund is the Vidia.
(45:49):
So we very seldom will we buy individual stocks. So
we like AI. So we found a ETF that we
feel is focused towards AI and that's why we bought
this SMH. So the video makes up eighteen percent of it.
You got Taiwan Semiconductor almost ten percent, Broadcom almost eight percent,
(46:11):
Micron Technology seven percent, AMD Advanced micro Devices almost seven percent.
That's a beautiful portfolio. Nice focused on AI companies. We
don't have to guess which company we think will will
be the best. We just don't know that. No, no,
nobody knows that. We just don't know what that is.
(46:36):
I can't believe we're coming up to the end of
the show. Folks. You're gonna have to come back tomorrow
morning to hear the rest of what we did, because
I'm excited about what we did, and you're gonna have
to come back tomorrow morning to hear what I'm going
to do for our little friend Lily, the five year
old that stole my heart, who is fighting cancer like
(46:57):
nobody else is fighting cancer. Child should go through what
Lily is going through, and I'm gonna do my best
to help her and her mom and give back. Giving
back feels good. I'm gonna do my best. But for now,
you're listening to Let's Talk Money, brought to you by
BOUCHETF and Andrew, where we help our clients prioritize their
(47:17):
health while we manage their wealth for life. I got
some good stuff that I still want to talk to
you about. We'll have to do that tomorrow. I hope
you're able to come back tomorrow. In the meantime, enjoy
this day. Thanksgiving is coming up, Christmas after that, and
after that we're gonna get a lot of snow in
cold weather. So enjoy this weekend. I can't thank you
(47:39):
enough for tuning in. Come back tomorrow. Go to our
website in the meantime, Bouche dot com. Be well, folks,
stay healthy. Thank you for tuning in.
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