Episode Transcript
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Speaker 1 (00:00):
So I am sitting here for the next hour with you.
Ashley is my producer this morning. Ashley and I would
love to talk to you. If you have any questions
pertaining to your portfolio, please give me a call one
eight hundred talk WGY one eight hundred eighty two five five,
nine four nine. Any questions whatsoever, give me a call,
(00:23):
let me help get you pointed in the right direction.
I promise I will give you my honest opinion and
give you, you know, basically how I feel. And remember, folks,
there's you know, we're like artists. You can look at
a picture and paint it different ways. When it comes
to investing, whether it's my philosophy or the next investment
(00:45):
manager's philosophy, or the next one or the next one,
sometimes you'll get different answers. I just promise I will
give you my honest opinion always and I've been doing that,
as I said, for thirty years. So any questions whatsoever
on eight hundred eighty two five five to nine four nine.
(01:06):
So I guess we kind of had a you know,
as I said that the year is coming up and
you know this week, you know once again AI big Tech.
You know, still you know, leaving a rebound. You got
the holiday week sentiment. Investors hope for a FED move,
(01:29):
you know, in the right direction. Basically, there's an eighty
seven percent chance that the FED will cut interest rates
and that you know, investors like that. Lower rates, that's
good for stocks. So investors like that, and we'll see
what happens. They need Tuesday and Wednesday, so we'll get
an answer just in a few days. You got rotation
(01:50):
out of high risk, you know, crypto crypto tied assets
into more traditional equities or commodities. You got gold and
precious metals getting a boost. And basically the market's looking
ahead the earnings from megacaps and outlook on macro policy.
There's a lot going on this week, but there's a
(02:11):
lot going on every week, right. It all depends on
how you look at it. And the way investors should
look at their portfolio is to be well diversified, have
a portfolio that they feel comfortable with. Do not, do
not be afraid of volatility. Volatility as an investor's friend,
(02:33):
you can really take advantage of some good buying and
selling opportunities when there's bouts of volatility. So you should
never ever look at volatility as being a scary thing.
Speaker 2 (02:45):
It's not.
Speaker 1 (02:46):
It's really not, folks. You know, It's like being a
kid going, you know, to bed with the lights out
and being scared. You turn the lights on. Everything's okay
when it comes to investing, the same thing. Eighty two
five five nine four nine two five fifty nine forty nine.
(03:06):
Any questions whatsoever, folks, give me a call. I would
love to talk to you. So you know what happened
this week? You know, basically, bitcoin, you know, fell six
percent on Monday, and you know that also stocks and
bonds went down, Stocks fell, the Dow down nearly a point.
(03:28):
Then rallied amid volatility on hopes basically that the Federal
Reserve will will cut rates. As I said a few
moments ago, there's an eighty seven percent chance that the
FED will cut rates. I'm in that camp. I think
the Fed will cut rates. I think the Fed should
cut rates. We have an economy that seems to be stalling,
(03:50):
and there's a lot of reasons why the Fed shipped
cut rates. Now. Unfortunately, the Fed is getting you know,
their data driven. They really look at just everything under
you know, you name it, they look at it. And
because of the government shutdown and everything. A lot of
reports have not gotten to their desk, let's say, on time,
(04:12):
so they're looking at old, outdated by a month or
so reports on the economy. But there's there's still data
driven and we'll see what they do Tuesday and Wednesday
when they meet about two fifteen will we'll get their decision.
I think they will cut. I think, you know, more
than likely they will cut, and the percentage of them
(04:34):
cutting is pretty high. You know, ADP said the economy
lost thirty two thousand jobs in November, and you know
late November jobless claims fell to a three year low
for the week. You know, the Dow up point five percent,
the S and P up point three percent, and one
(04:56):
of my favorites, NASDAC up point nine almost a percent.
And NANSDAK is important to our clients anyway. We own
as much NANSDAK as we own the Broad Stock Market Index,
and this week we made a wholesale change in our
qualified accounts. You know, we've been looking at this for
a long time. We've owned the Broad Stock Market Index,
(05:20):
which takes into consideration mid caps and small caps, and
we kind of basically sold out of that and replaced
it with the Vanguard S and P five hundred indecks
symbol vas in bad guard. Oh oh. We felt that
was a better, better core holding for our taxable or
(05:40):
i'm sorry, our tax free accounts where we didn't have
to worry about any gains and tax liabilities. So we
made that wholesale change. My investment committee felt strong about
it and the other thing they did. And don't laugh, folks,
this is how we think. I always say I've said
it for thirty five years, almost six years. In another month,
(06:01):
it'll be thirty six years that I've been in business.
I've said this often. We try to make as much
money as we can for our clients without taking any
more risk than we need to, and by using the
most affordable investments that we can use. Now what's that mean?
And I you know, the Investment Committee sent the letter
(06:24):
out to clients this week explaining it annuities. Every investment
has internal management fees. Annuities are about three percent, mutual
funds about one percent, our core holdings point zero three percent,
point zero three percent for the Vanguard SMP point zero
(06:44):
three percent. And we the other wholesale change we did
in our qualified accounts are you know, retirement accounts that
we don't have to worry about tax consequences. Is we
sold completely out of QQQ. Now, don't get nervous. You know,
I love QQQ. It's one of the reasons why our
(07:04):
returns have been pretty stellar through the years decades. Really,
I've owned QQQ and our client's portfolios for a long, long,
long time. But the due diligence that my investment committee
went through, they basically QQQ is going through a change.
(07:25):
You know, there's two different types of ETFs. Long story short.
This sister of QQQ is qqq M, is in mary
same exact, same exact holding. You own the NASDAQ one hundred,
one hundred largest companies in Nasdaq. The difference is the
(07:45):
internal management fee of QQQ is point two zero percent.
The internal management fee of QQQM is point one five percent.
So you may say, oh, see that's only five bit,
you know, zero point five percent point zero five percent.
You know that doesn't make a difference, But this is
(08:07):
how we look at things. Every every penny we can
save clients is a penny more that they'll have in return.
So we felt that was a good change. Our investment
committee really went to Great Lanes. They made that happen
and we sold out a QQQ and now we own
QQQ and same exact holding, same exact companies. The only
(08:30):
difference is our clients saved money. And I like it
when our clients saved money. I really, you know, when
our clients can save money, that's a beautiful thing. What
eight hundred and eighty two five five, nine four nine.
I'm going to take a quick fifteen second break. Don't
go anywhere. Hello everybody, thank you for letting me. You know,
I made a nice pot of coffee, and sometimes you
(08:53):
just want to take a little sip or two of
your coffee, and that's what I did. I took a
little sip of my coffee some morning. And once again,
thank you for tuning in today. I can't thank you
enough for you really have made the listening audience is
what makes this show probably one of the premiere talk
show on you know with regards to money throughout the country.
(09:18):
This is we we get ratings that are so high,
and it's because of the listening audience. We try to
do a good job, give our honest opinion, and believe me, folks,
it may not always be what you want to hear,
but professionally speaking, it's what we feel is right. So
if you have any questions pertaining to your portfolio or
(09:39):
you know, what should you buy, you know, for a
Christmas gift, give me a call. One eight hundred eighty
two five five nine four nine one eight hundred eighty
two five fifty nine forty nine. So some other news
this past week, Walt Disney's supop Utopia to You took
(10:00):
in one hundred and fifty six million in movie sales
this week between the United States and Canada four hundred
million internationally. That's a lot of money. I went to
the movies last week for the first time in really
a couple of years. I haven't been in a movie
(10:21):
theater in a couple of years. And I always say
I like going to a movie because it's really two
and a half hours, well two and a half hours
and then another half hour of commercials, right, you know,
before the movie starts, you're watching everything from you know
why you should get up and go grab a Coca
cola and some popcorn to what the upcoming movies are.
(10:44):
But basically two and a half hours of pure silence,
no phone, nobody talking, to you, no computers, just focused
on the on what you know, the big screen. I
went to see Neuremberger with Russell Crowe. Amazing. Just the
(11:04):
acting was just it was a good movie to see.
Just wow. That's all I can say is wow. You
got regulators who ordered fixes to a software glitch on
like six thousand Airbus A three twenty planes and the
(11:25):
company cut its twenty twenty five delivery target. It shares
her down about sixty percent. And you know the selloup.
You got Blackstone Apollo Global KKR participating in a Bank
of England private market stress test. Apple replaced its AI
(11:46):
chief with Microsoft's chief. A lot went on in the
in the markets this coming week, though, let's talk, you know.
I say this often. One thing that my wife Sup
taught me before she passed was don't trip over what's
behind you. Don't trip over what's behind you. It's a
(12:09):
powerful statement when you put it in perspective, and she
and I used it. We kind of laughed about it.
But when you think about it, don't trip over what's
behind you could save you a lot of a lot
of disagreements and stress and everything else. Don't trip over
(12:29):
what's behind you. So let's move on to this coming week.
What do we have. On Tuesday, the Bureau of Labor
Statistics will release the job Openings and Labor Turnover Survey
for both September and October. As I said, folks, things
are little late. At the end of August, there were
like seven point two two million job openings and one
(12:51):
point zero two unemployed people for every open position, the
highest ratio since early twenty twenty one. So anybody who
says they can't find a job, folks, there's jobs out there.
So anybody who says they can't find a job, don't
believe them. There's a job out there. There's a job
out there for everybody who's unemployed. And then, as they
(13:14):
said Tuesday, Wednesday, the Federal Open Market Committee will announce
on Wednesday afternoon, they have a two day meeting the
Monetary Policy decision. Basically, they're expected to cut the Fed
funds rate by a quarter of a percentage point to
a range of three point five to three point seventy
five percent. The Central Bank also releases its quarterly Summary
(13:38):
of Economic Projections the September sep the meeting and projection
for the Fed Funds rate by year end twenty twenty
six was three point four percent, which basically would apply
only one more quarter rate cut, assuming that the Federal Reserve,
the Federal basically Open Market Committe fo MC is what
(14:01):
they go by. Cuts is expected at this meeting. Traders
right now, as they said, they're pricing in a roughly
three percent federal funds rate by the end of twenty
twenty six, which means a little bit more on the
cutting block. You'll see interest rates be cut. That's what
That's what the investors are saying. You have comments by
(14:24):
Kevin Hassen, who right now may be in the running
for taking over J. Powell. We know there's no secret
President Trump does not like the Federal Reserve chairman J.
Speaker 2 (14:34):
Powell.
Speaker 1 (14:34):
His term ends the spring, and President Trump will be
replacing him. Kevin Hassen is right now one of the
front runners. He's currently Director of the National Economic Council
and favored basically to replace Jerome Powell. As they said, J.
(14:55):
Powell's term ends in May. We'll see what happens. You know,
it's it's this president and most presidents always want the
Fed to cut cut, cut, you know, cutting interest rates.
It's good for the economy. Good for investments. And you
(15:15):
know this, This president makes it known he wants more cuts.
He feels that the federal Reserve isn't cutting knot. So
there you have it for the week. As I said,
the nasdak QQQ or let me rephrase it, because now
we own qqq M in our qualified accounts, our retirement accounts,
(15:36):
qqq M lower internal management fees. Folks, Hey, if we
can save you money, let's save money. Right. Isn't that
why we shop on Black Friday and look for those
sales and Cyber Monday? Right, every every penny saved, there's
a penny that you can kind of sock away. So
qqq M is up one point zero one percent this week.
(16:00):
The entire NASDA composite is up point nine one percent.
Even Russell two thousand was up point eighty four percent,
SMP up point three one percent. Year to date, the
SMP is up almost seventeen percent, close to eighteen percent.
If you add in the dividend NaSTA composite, the entire
(16:21):
composite up twenty two point one percent. Qqq QQQM is
up twenty two point three percent. Now, Russell two thousand
is even up thirteen point one percent. So there you
have it. The markets are really twenty Listen the bad
news bears, I love it when they project that the
markets aren't going to do well, the markets are going
(16:43):
to fault, they're going to you know, just sink. Well,
that hasn't happened. And I always give credit to harmony
where you know one of my rock stars who a
few years ago in one of the webinars, said, you know,
investors always feel that when there's volatility, when they lose
a little bit of money on paper, when there's a
market correction or worse, she had a bear market, or
(17:05):
even a recession setting in. They always think the world's
coming to an end. And guess what, the world does
not come to an end. It just it continues to go.
It's like the energizer bunny just goes and goes and goes.
Mortgage rates are coming down close to six percent and
(17:25):
seven percent. That is phenomenal news for anybody out there
looking to buy a home, or maybe sell their home
and buy a different home. You know, margage rates. Listen,
we were spoiled when they were less than three percent
not too long ago. It was like free money. And
if I said it once, I said it a million times.
(17:47):
Maybe not a million, but I said it a lot.
You get the picture that when mortgage rates were under
three percent, anybody who wanted to borrow money go out
and borrow as much as you can, because when mortgage
rates go up, that makes it huge difference in your
mortgage payment. And a lot of people couldn't afford the
home that they wanted to afford when mortgage rates went
(18:08):
from three percent to close to seven percent. So here
we are, mortgage rates are slipping a little. The thirty
year national average is six point three percent, the fifteen
year national average is five point seven one percent. And
I'd be you know, if I didn't talk about gold.
Gold sitting at forty two twelve an ounce, the high
(18:32):
is forty three thirty six an ounce, up sixty percent
year to day. I wish we we we we we
invested our client's money in gold, but we didn't. And
you know, I always say gold commodity. It's a commodity.
There has to be a buyer and a seller to
make that trade happen. And we missed, we missed the
(18:55):
gold run. The gold bugs that are out there, those
that cashed in, they did well. And if by chance,
you put a lot of money in gold, and you
have an overweight position in gold, Now maybe a good
time to maybe trim back, take some money off the
table if you have too much money invested in gold,
if you feel that your gold is more than you
(19:18):
wanted it to be. And that happens when you know,
when you have an asset class like gold go up
sixty percent year to date, you know, all of a sudden,
if you had a five percent target weight, you know,
maybe it's closer to ten percent, and if you want
to keep that five percent, now is a good time
to trim that back. We did that with our client's
portfolios not too long ago, where we trimmed some positions,
(19:43):
some positions like Apple that really you know, had a
great run and went up more then our target weight.
We trimmed that back and invested in and other things.
I'll talk about that on the other side of the
news break. Really, our investment committee really made some pretty
(20:03):
good moves over the last couple of weeks that have
really been very beneficial on behalf of our clients, very
very beneficial. One eight hundred eight two five five nine
four nine one eight hundred eight two five fifty nine
forty nine. If you have any questions, folks, any questions whatsoever,
(20:26):
give me a call. I would love to talk to
you anything that you want to talk about. I kind
of hit it around at the beginning of the show.
I'll even talk to you about Christmas gifts. What I
mean by that is it's Christmas. It's the holiday season, folks.
Do not if you're still going out and buying Christmas
gifts for everybody in the family and you're just spending
(20:51):
money that you probably shouldn't spend, just stop. Stop, you
gotta stop, you just gotta stop. Don't do it. You know,
I love the families that have you know, where you
pull a name out and you buy one gift. You
make it a special gift that you can buy. You
(21:12):
can put some thought into that gift for that one
person and the family. Doesn't that make sense rather than buying,
you know, for everybody, you know, your uncles and your
cousins that you haven't seen forever. You know, take it.
Do that secret Santa where you pull a name out
(21:32):
of a hat and you buying one gift for one person.
Think how much less time you're going to be spending
in those crowded malls, take time for yourself, take a walk,
not in the mall, but take a nice walk, enjoy
when the sun's out, and you know, just just just
(21:52):
stop going out and buying a hundred gifts for one
hundred people. Maybe buying one gift or two gifts. Anyway,
that's just my personal opinion. Hey, we're coming up to
the bottom of the hour. We have to take a
break for the news. You are listening to Let's Talk Money,
brought to you by Bouchet and Andrew, where we help
our clients prioritize their health while we manage their wealth
(22:15):
for life. I can't thank you enough focus for tuning
in on this Sunday morning, and I hope on the
other side of the news break I can help you
with any questions you may have. One eight hundred eight
two five, five nine four nine. One eight hundred eight two,
five fifty nine forty nine are the phone numbers. We
(22:35):
will take a quick news break and on the other
side of the break, Ashley and I will be here.
One eight hundred eight two, five, five nine four nine. Hello,
Hello folks, Thank you for hanging in through the news.
I can't thank you enough for tuning in today. I
truly I thank you every weekend. It's a pleasure to
(22:58):
be here with you. I'm really honored that then you
tune in and you give me an opportunity of talking
about different investment topics and financial planning topics, and if
there's anything on your mind that you'd like to call in,
don't don't hesitate, don't be shy, give us a call. Ashley,
my producer and I are sitting here. We would love
(23:19):
to talk to you. One eight hundred eight two five
five nine four nine one eight hundred eight two five
fifty nine forty nine. Any questions whatsoever, Give me a call.
I would love to talk to you. So, you know,
the markets were up last week and we we we
(23:40):
had some you know, good things. It was a transition
week from risk on like artificial intelligence and growth driven
to a more cautious, yield sensitive environment, and that sets
up nicely. You know. That's why having a well diversified portfolio,
where you're balancing growth and value and risk, you know,
(24:03):
that's that's really really what you want to do. You know,
we're coming up to the end of the year. The
one thing that you absolutely should be doing, folks, is
basically looking for any losers in your portfolio. And listen,
maybe you're lucky and you don't have any losses, but
(24:25):
if you have any losers in your taxable accounts taxable accounts,
not retirement accounts, your taxable accounts, if you have any losers,
sell it, buy something else, and you know, basically book
those losses. You can offset gains dollar per dollar, and
then you can offset earned income up to another three
(24:48):
thousand dollars. That's money in your pocket, folks. Why you
know you want to harvest those losses. So every year
at this time we try to remind investors to do
some tax loss harvesting and sell the losers, get rid
of the losers, and replace it with something else. You can.
You know, as long as you don't replace it within
(25:10):
thirty days with the exact same investment, it's okay to
sell those losers and replace it with something else. So
you really, you should really think about harvesting some losses
and take advantage of that rule that IRS gives you.
It's a nice it's a nice rule. It's money in
(25:30):
your pocket. One eight hundred eighty two five five nine
four nine. We're going to go to the phone lines
where we have Jay and Latham.
Speaker 2 (25:37):
Good morning, Jay, Hey, how are you?
Speaker 1 (25:41):
I'm doing wonderful.
Speaker 2 (25:42):
How are you good? I have a couple of questions
to ask. One is we are transferring over we consider
a substantial amount of money. We will be coming up
and seeing you next week making a from our current investor,
which we are not happy.
Speaker 1 (25:59):
With at all.
Speaker 2 (26:00):
Okay. We also have ge stock to add to the trust.
That's my mother in law's trust. We also have a
ge stock to add to it. The problem having with
GE is there a company I think it's called EQ
and they're handling the portfolio. Now. Keep said them the
information three times because three different times I wanted to
(26:23):
get that cashed out and put into her trust fund.
And they never respond, they never acknowledged they got it,
and we're stuck in a limbo here and I don't
know what to do.
Speaker 1 (26:36):
Yeah, well, what you want to do is absolutely come
in and see us, and I thank you for that
vote of confidence. I can assure you, Jay, when you
come into my office, I'm surrounded by twenty twenty almost
twenty one professionals. And when I say professionals, professionals, we
have four CPAs an IRS enrolled agent ten certify Financial Planner.
(27:00):
I have a lot of expertise on my team and
you shouldn't be inconvenience like that. And I apologize that
you know you're not having a good go around with
your current advisor. But I can assure you when you
come in if you feel comfortable with us, and I
think you will when you hear our story and you
(27:20):
see exactly what we do and how we work with clients,
I can almost assure you. I can't make guarantees other
than I always joke and say investors will lose money.
That's the only guarantee I give them, because you will.
You know, investors will a day, a week, a month,
sometimes a year. You know, there were two years over
(27:41):
the last eleven where investors lost money. So there's no
guarantees that everything goes straight to the moon. But I
can almost guarantee you that you will feel very comfortable
with my team. You will feel like we will help you,
and I promise you we will help you, will help
make sense out of all that you're going through and
(28:05):
get you know, basically, get done what you want to
get done. And if you need to get it done
by the end of the year, then you know, give
my client conciergees my daughter, my favorite daughter, Lauren. So
give Lauren a call on Monday morning and she will
book you asap to come in and let us get
you pointed in the right direction. Let us help get
(28:27):
things straightened out.
Speaker 2 (28:29):
You think you can get this GE thing straighten out,
because twice I wanted to sell when it was six
seventy five and I couldn't get it, and then it
dropped and I called GE and complained about EQ and
nothing happens there. And now we just got a thing
in the nail saying one of my EQ stocks, which
is a breakoff from GE, which is GE Healthcare, is
(28:52):
now in the hands of the state because we didn't
do something, which we've always done everything. And to give
you a I'm just going to give you a number.
It may not be the right number. So my investor
we invested, we cashed out life insurance policies and everything on.
My father in law died. We gave the investor about
four hundred thousand dollars and it's basically the same thing
seven years later.
Speaker 1 (29:13):
Yeah, well, you know, listen, I mean I give this statistic.
Often if you look at the average returns over you
know time, I'm telling you I I Over the last
ten years, the average return year in, year out for
(29:33):
the S and P is almost fourteen to fifteen percent.
The average return for Nasdaq is almost twenty percent. Over
the last five years, it's been sixteen percent year in,
year out, sixteen percent for the S and P five hundred.
You know, if you haven't made money, then you know,
(29:54):
maybe you have an advisor that's just not aware of things.
At the S and P five hundred index, year in,
year out over the last five years, your average return
fourteen point seventy five percent. So you're missing out on something.
I don't know why. I don't know what your investor
has you invested in.
Speaker 2 (30:12):
But listen, well, Charles Schwab and they're doing the investing,
and I'm just not happy.
Speaker 1 (30:18):
Well, our you know, we managed one point five billion dollars,
so that means that so to not the long and
short of it, Jay, our client's money one point five
one point six billion. Now it's all at Charles Schwab.
Charles Schwab is just a platform. So we could use
Vanguard Fidelity, we could use well in the old days
(30:41):
td amer Trade. I've used Schwab I became a fiduciary
back in nineteen ninety three. I haven't sold an investment,
earned a commission. I haven't had a conflict of interest
investment wise since nineteen ninety three. I've always used Charles
Schwab as a platform for clients because one, we don't
get paid anything from Charles Schwap. I could use any company,
(31:04):
but Charles Schwab then and now is always the biggest
and the best. But we bou chef and answer group.
We are responsible for managing our clients portfolio. Your advisor
right now is responsible even though the money's at Charles Schwab.
Charles Schwab is just like you know.
Speaker 2 (31:23):
They don't say where your money's going.
Speaker 1 (31:25):
Correct your advisor is, And maybe your advisor's just taking
things for granted or falling asleep at the wheel. I
remember fifteen years ago after the financial collapse where the
S and P was down fifty percent. I remember telling
clients seven eight nine that listen, if you have an
advisor that's like a deer on the highway with the headlights,
(31:48):
you know, just binded and not sure what to do.
You need a new advisor. I say often volatility is
our best friend, my investment committee made some changes in
the portfolio a couple of weeks ago, and they've been dynamic.
So just to give you an idea, we trimmed some positions,
sold out completely of another, and replaced it with three
(32:11):
new ones. We went, we love we love artificial intelligence.
So we bought SMH, which is the van X Semiconductor ETF.
So it's a basket of semiconductor companies nl R because
we believe because of artificial intelligence and everything, nuclear is
(32:32):
going to do well. And we bought bitcoin, first time
in a long time, Jay that we bought bitcoin. We
you know, we weren't sure if it was here to stay.
Long story short, Bitcoin is here to stay. We bought bitcoin.
Those changes that we made in the portfolio over the
last two weeks up ten point four one percent on
(32:54):
behalf of our clients. That's what I mean when I
say when we see volatile, we want to take advantage
of it. My investment committee, they did their due diligence.
They you know, basically dotted the i's cross the t's.
They said, Steve, we feel this is a good time.
I made them spell it out. I made them state
their case why they felt it was a good time.
(33:17):
In hindsight, they were right on our clients. Just those
changes in the portfolio up ten point four one percent
in two weeks. So maybe have an advisor that's just
not up to managing money or afraid to manage money,
or maybe he or she has you in a conservative portfolio.
But all the more reason to call our client concierge,
(33:40):
my favorite daughter Lauren on Monday and have her set
up a meeting. I'll let her know if you call
to get you in asap so we can help straighten
out your financial affairs.
Speaker 2 (33:52):
What's that client concerious number?
Speaker 1 (33:56):
It is five to one eight seven to two zero
zero thirty three thirty three. Five one eight seven to
zero thirty three thirty three. And we have you know,
we have an office in historic downtown Troy, right on Broadway,
across the street from my starbucksing.
Speaker 2 (34:16):
My office is in Colony, So so.
Speaker 1 (34:18):
Perfect Troy would Troy would be suitable for you?
Speaker 2 (34:23):
Okay, perfect Jay. Thank you for all your health.
Speaker 1 (34:27):
Jay, enjoy your Sunday, and thank you for calling in
and thank you for the confidence and us I think.
Speaker 2 (34:33):
I think you can't wait to see it.
Speaker 1 (34:35):
Yeah, good, perfect Jay, Thank you you'd be well, have
a happy Sunday Funday, right, Is that what they're saying is, yeah, absolutely,
it's Sunday Funday. Right. It's like, yeah, all right, Jay,
oh that's a good call. You know, a folks, I
am so proud of what we do on behalf of
(34:58):
our clients. And you know, as they said, my investment
committee did their homework. They felt that we had some dogs.
They wanted to trim one. We sold out completely. They
gave me recommendations for what they felt would work. And
I know it's only a couple of short weeks, but
being up ten point four to one percent because of
(35:19):
those trades is pretty dynamic. Even bitcoin, and believe me, folks,
bitcoin is Listen, there's a lot of reasons why you
shouldn't own bitcoin. We believe in it long term and
it's probably one of the more emotional investments that that
investors get caught up on. One. It's volatile. You know,
(35:42):
just just this week you've seen bitcoin, you know, up
and down, up and down. You know, the high was
one hundred and twenty six thousand, It dropped down to
one hundred and eight thousand, went back to one hundred
and fifteen thousand, came back to eighty five thousand, which
is where it was in April, and that's when we
bought in. We bought in when it was at eighty
(36:04):
five thousand. Today, as we sit here, you know, bitcoin
trades all the time, so as I sit here right now,
it's still you know, just about eighty nine thousand. So
we're up in bitcoin, and it will be a volatile trade.
I'm you know, I can't begin to tell you don't
buy bitcoin if you don't want volatility. But that's how
(36:27):
you make money, is putting adding some risk into the
portfolio that's controllable. We didn't add a whole bunch of
bitcoin in a portfolio. Like I'm in what we call
our all equity position. That means I am one hundred
percent investment in the stock market. I don't own any bonds.
(36:47):
I don't want to own bonds. I'm very comfortable with
the ups and downs in the market. The market goes up,
the market goes down. Guess what, the market always has
always come back and gone on to make new all
time highs. So you know, that's why I'm comfortable with
an all equity portfolio. So bitcoin in the all equity portfolio.
(37:11):
It accounts for about about three percent of the equity
sleep our growth and income strategy, which a lot of
our retirees are in less than two percent. So are
we shooting for the stars? Are we really taking on
undue risk? I don't think so. With less than a
two percent position, if we feel in bullyeve me, we
(37:34):
wouldn't buy it if we didn't think we can make
money with it. And in two short weeks being up
ten point four to one percent because of the trades
that my investment committee made is pretty remarkable. So volatility
comes with crypto bitcoin, and as I said, that kind
(37:56):
of volatility can be unsettling for investors who wants to
be or predictable returns. But then you're going to be
stuck with, you know, predictable returns not making a lot
of money. So we've had a couple of clients that call.
Because we we notify our clients, we are very transparent
and that's one thing Jay will find out when he
(38:18):
comes in. We let our clients know exactly what we're doing,
why we're doing it. We had a couple of clients
call say, oh, you know, I'm uncomfortable with with you know,
what's this bitcoin? So after we explain it, and our
advisors are all well educated on it, after we explain
why we bought it and why we feel comfortable with it, well,
(38:39):
you know what they felt comfortable. You know our clients,
you know they they basically the reason why they engage
our services is for us to take the emotion out
of the decision making process. That's what we do best.
We take the emotion out of the decision making process.
(39:00):
Let me give out the phone numbers one, eight hundred
eighty two, five five nine four nine, one eight hundred
eighty two, five fifty nine forty nine. If you have
any questions, give me a call, any questions whatsoever. So
we take the emotion out of the decision making process,
because hey, we're all human. You know I'm human. When
(39:22):
the market goes down, folks, I never ever, ever do
I look at my portfolio ever, And I mean that
I know that we have good investments. I know my
investment committee as us well diversified. I don't need and
my money is invested just like my clients. Actually, I
can say all of my advisors their money and my
(39:45):
leadership team their money is invested just like just like
my clients, and I wouldn't have it any other way.
You know, there's no way I'm going to manage my
money differently than my client's money. So the only difference
is I have like for what we call sandbox accounts
where I kind of play and actually ed Wilhelm, one
(40:07):
of my traders, he does the plane for me. We
follow some things and he makes changes each month to it,
and I have fun with it. Listen, when you're a kid,
you always played in the sandbox. You have some fun, right,
That's why we call them our sandbox accounts, our fun accounts.
So I have. I have a handful of sandbox accounts.
One of them is just invested in bitcoin. On investment
(40:32):
in bitcoin, and I've made a lot of money in that,
so I you know, I'm not worried about bitcoin long term.
It it does go up and down.
Speaker 2 (40:44):
You know.
Speaker 1 (40:45):
When when markets move, risk go off or there's policy shifts,
Crypto tends to be damaged alongside stocks. There's a correlation there.
Stocks are considered risky assets. I don't consider them risky
long term, but a lot of people watch the stock
market every day. Some people watch the stock market all day.
(41:07):
There's better things they can do in their life than
watching their investments all day, every every five minutes, looking
at where where their investments are. Just forget about it.
If you have a good, well diversified portfolio, forget about it.
But crypto is correlated with risk assets. You know, it's
(41:27):
you know, we like it, regulatory and structural uncertainty. Crypto
remains subject to regulatory scrutiny, but it's getting better, and
a lot of institutional frameworks like retirement plans, still have
limited or no exposure, but they're getting more and more exposure.
(41:48):
So when that happens, you're going to see I believe
you're going to see something like bitcoin do well. So
we were always looking at learn from the past, but
we're always looking ahead. Another reason why we felt that
bitcoin has a little place in the portfolio. Minimal, minimal,
(42:10):
but a little bit here, a little bit there that
goes and adds up. As I said, you know, those
three new additions to the portfolio in two short weeks
account for ten point four to one percent difference between
what we own and what we own. Now. You know bitcoin,
you know it's had big rallies, it also suffers with
(42:31):
big drawbounds. It's it's hard for conservative or retirement oriented
investors to rely on it, which is why our clients
kind of rely on us. When bitcoin becomes part of
Forum one K plans and they're working on it, now
you know it's it's going to be a game changer.
(42:52):
So that's that's my thoughts on bitcoin. As I said,
a lot of clients wonder why we bought it. We
bought it these we thought it was good diversification, and
we think we can make money with it. And if
we're wrong. Listen, sometimes we get into something, we'll get
out of it. If if it's not good, we'll we'll, we'll.
We'll see what happens on the other side of the coin.
(43:16):
Gold had a good week. Precious metals and gold investors
appear to have moved towards safe haven alternative assets like
gold and silver, basically possibly hedging against rape and macro uncertainty.
We'll see what happens about that. The coming days. We'll
(43:36):
see earnings from big major corporations, and between that and
the Fed, you know, whatever they decide on Tuesday and Wednesday,
we'll find out Wednesday afternoon at about two fifteen. That'll
give us a clue of what we may see in
(43:57):
twenty twenty six. So there's you know, there's there's there's
a lot going on with the investment world and on
the investment front. But you know, bottom line, you shouldn't
you shouldn't be really afraid if you have a well
diversified portfolio, you're comfortable with the risk that you're taking.
You shouldn't be afraid of having a well diversified portfolio.
(44:21):
That means, you know, if you want safety, then you
should just buy one hundred percent buy go, buy CDs
or you know the treasuries. You know right now the
ten year treasuries yielding right now four point one three percent.
And as I said, over the last fifteen years, your
(44:42):
average return in the S and P five hundred index
year in year out is fourteen percent. Your average return
in QQQ or QQQM are new holding because we save money,
your average return year in, year out over the last
fifteen years is nineteen percent year in, year out. And
(45:04):
if you want, if you want safety, people look at
bonds as being safe year in, year out over the
last fifteen years, the same fifteen years that the SMP
is up fifteen percent and NASDAC is up nineteen percent
the same fifteen year period. If you bought the bond index,
(45:25):
which is really you know, the ice shares core US
aggregate bond ETF two point three three percent two point
three three percent year in, year out. If you want stability,
which is why our clients have a well diversified portfolio,
because we have some of those stocks year in, year
out up fourteen percent QQQ year in year out up
(45:48):
you know, nineteen percent, and the bond portfolio year in
year out up two point three three percent. Folks, I
can't believe this hour has passed by. You are listening
to Let Talk Money, brought to you by Bouchet Finance Group,
where we help our clients prioritize their health while we
manage their wealth for life. Go to our website Bouchet
(46:09):
dot com. That's biz and boy O U C h
E Y dot com. There's a lot of good information there.
We have, you know, podcasts. We have our year end
tax planning seminar. We give it to you for free.
Go to our website Bouche dot com and you'll see
(46:30):
it for free for now. I hope you enjoy this Sunday.
I hope you enjoy the holiday season. I hope you
come back next Saturday at ten am, next Sunday at
eight am. In the meantime, stay healthy, be well, folks.
I'll talk to you next weekend.
So I am sitting here for the next hour with you.
Ashley is my producer this morning. Ashley and I would
love to talk to you. If you have any questions
pertaining to your portfolio, please give me a call one
eight hundred talk WGY one eight hundred eighty two five five,
nine four nine. Any questions whatsoever, give me a call,
(00:23):
let me help get you pointed in the right direction.
I promise I will give you my honest opinion and
give you, you know, basically how I feel. And remember, folks,
there's you know, we're like artists. You can look at
a picture and paint it different ways. When it comes
to investing, whether it's my philosophy or the next investment
(00:45):
manager's philosophy, or the next one or the next one,
sometimes you'll get different answers. I just promise I will
give you my honest opinion always and I've been doing that,
as I said, for thirty years. So any questions whatsoever
on eight hundred eighty two five five to nine four nine.
(01:06):
So I guess we kind of had a you know,
as I said that the year is coming up and
you know this week, you know once again AI big Tech.
You know, still you know, leaving a rebound. You got
the holiday week sentiment. Investors hope for a FED move,
(01:29):
you know, in the right direction. Basically, there's an eighty
seven percent chance that the FED will cut interest rates
and that you know, investors like that. Lower rates, that's
good for stocks. So investors like that, and we'll see
what happens. They need Tuesday and Wednesday, so we'll get
an answer just in a few days. You got rotation
(01:50):
out of high risk, you know, crypto crypto tied assets
into more traditional equities or commodities. You got gold and
precious metals getting a boost. And basically the market's looking
ahead the earnings from megacaps and outlook on macro policy.
There's a lot going on this week, but there's a
(02:11):
lot going on every week, right. It all depends on
how you look at it. And the way investors should
look at their portfolio is to be well diversified, have
a portfolio that they feel comfortable with. Do not, do
not be afraid of volatility. Volatility as an investor's friend,
(02:33):
you can really take advantage of some good buying and
selling opportunities when there's bouts of volatility. So you should
never ever look at volatility as being a scary thing.
Speaker 2 (02:45):
It's not.
Speaker 1 (02:46):
It's really not, folks. You know, It's like being a
kid going, you know, to bed with the lights out
and being scared. You turn the lights on. Everything's okay
when it comes to investing, the same thing. Eighty two
five five nine four nine two five fifty nine forty nine.
(03:06):
Any questions whatsoever, folks, give me a call. I would
love to talk to you. So you know what happened
this week? You know, basically, bitcoin, you know, fell six
percent on Monday, and you know that also stocks and
bonds went down, Stocks fell, the Dow down nearly a point.
(03:28):
Then rallied amid volatility on hopes basically that the Federal
Reserve will will cut rates. As I said a few
moments ago, there's an eighty seven percent chance that the
FED will cut rates. I'm in that camp. I think
the Fed will cut rates. I think the Fed should
cut rates. We have an economy that seems to be stalling,
(03:50):
and there's a lot of reasons why the Fed shipped
cut rates. Now. Unfortunately, the Fed is getting you know,
their data driven. They really look at just everything under
you know, you name it, they look at it. And
because of the government shutdown and everything. A lot of
reports have not gotten to their desk, let's say, on time,
(04:12):
so they're looking at old, outdated by a month or
so reports on the economy. But there's there's still data
driven and we'll see what they do Tuesday and Wednesday
when they meet about two fifteen will we'll get their decision.
I think they will cut. I think, you know, more
than likely they will cut, and the percentage of them
(04:34):
cutting is pretty high. You know, ADP said the economy
lost thirty two thousand jobs in November, and you know
late November jobless claims fell to a three year low
for the week. You know, the Dow up point five percent,
the S and P up point three percent, and one
(04:56):
of my favorites, NASDAC up point nine almost a percent.
And NANSDAK is important to our clients anyway. We own
as much NANSDAK as we own the Broad Stock Market Index,
and this week we made a wholesale change in our
qualified accounts. You know, we've been looking at this for
a long time. We've owned the Broad Stock Market Index,
(05:20):
which takes into consideration mid caps and small caps, and
we kind of basically sold out of that and replaced
it with the Vanguard S and P five hundred indecks
symbol vas in bad guard. Oh oh. We felt that
was a better, better core holding for our taxable or
(05:40):
i'm sorry, our tax free accounts where we didn't have
to worry about any gains and tax liabilities. So we
made that wholesale change. My investment committee felt strong about
it and the other thing they did. And don't laugh, folks,
this is how we think. I always say I've said
it for thirty five years, almost six years. In another month,
(06:01):
it'll be thirty six years that I've been in business.
I've said this often. We try to make as much
money as we can for our clients without taking any
more risk than we need to, and by using the
most affordable investments that we can use. Now what's that mean?
And I you know, the Investment Committee sent the letter
(06:24):
out to clients this week explaining it annuities. Every investment
has internal management fees. Annuities are about three percent, mutual
funds about one percent, our core holdings point zero three percent,
point zero three percent for the Vanguard SMP point zero
(06:44):
three percent. And we the other wholesale change we did
in our qualified accounts are you know, retirement accounts that
we don't have to worry about tax consequences. Is we
sold completely out of QQQ. Now, don't get nervous. You know,
I love QQQ. It's one of the reasons why our
(07:04):
returns have been pretty stellar through the years decades. Really,
I've owned QQQ and our client's portfolios for a long, long,
long time. But the due diligence that my investment committee
went through, they basically QQQ is going through a change.
(07:25):
You know, there's two different types of ETFs. Long story short.
This sister of QQQ is qqq M, is in mary
same exact, same exact holding. You own the NASDAQ one hundred,
one hundred largest companies in Nasdaq. The difference is the
(07:45):
internal management fee of QQQ is point two zero percent.
The internal management fee of QQQM is point one five percent.
So you may say, oh, see that's only five bit,
you know, zero point five percent point zero five percent.
You know that doesn't make a difference, But this is
(08:07):
how we look at things. Every every penny we can
save clients is a penny more that they'll have in return.
So we felt that was a good change. Our investment
committee really went to Great Lanes. They made that happen
and we sold out a QQQ and now we own
QQQ and same exact holding, same exact companies. The only
(08:30):
difference is our clients saved money. And I like it
when our clients saved money. I really, you know, when
our clients can save money, that's a beautiful thing. What
eight hundred and eighty two five five, nine four nine.
I'm going to take a quick fifteen second break. Don't
go anywhere. Hello everybody, thank you for letting me. You know,
I made a nice pot of coffee, and sometimes you
(08:53):
just want to take a little sip or two of
your coffee, and that's what I did. I took a
little sip of my coffee some morning. And once again,
thank you for tuning in today. I can't thank you
enough for you really have made the listening audience is
what makes this show probably one of the premiere talk
show on you know with regards to money throughout the country.
(09:18):
This is we we get ratings that are so high,
and it's because of the listening audience. We try to
do a good job, give our honest opinion, and believe me, folks,
it may not always be what you want to hear,
but professionally speaking, it's what we feel is right. So
if you have any questions pertaining to your portfolio or
(09:39):
you know, what should you buy, you know, for a
Christmas gift, give me a call. One eight hundred eighty
two five five nine four nine one eight hundred eighty
two five fifty nine forty nine. So some other news
this past week, Walt Disney's supop Utopia to You took
(10:00):
in one hundred and fifty six million in movie sales
this week between the United States and Canada four hundred
million internationally. That's a lot of money. I went to
the movies last week for the first time in really
a couple of years. I haven't been in a movie
(10:21):
theater in a couple of years. And I always say
I like going to a movie because it's really two
and a half hours, well two and a half hours
and then another half hour of commercials, right, you know,
before the movie starts, you're watching everything from you know
why you should get up and go grab a Coca
cola and some popcorn to what the upcoming movies are.
(10:44):
But basically two and a half hours of pure silence,
no phone, nobody talking, to you, no computers, just focused
on the on what you know, the big screen. I
went to see Neuremberger with Russell Crowe. Amazing. Just the
(11:04):
acting was just it was a good movie to see.
Just wow. That's all I can say is wow. You
got regulators who ordered fixes to a software glitch on
like six thousand Airbus A three twenty planes and the
(11:25):
company cut its twenty twenty five delivery target. It shares
her down about sixty percent. And you know the selloup.
You got Blackstone Apollo Global KKR participating in a Bank
of England private market stress test. Apple replaced its AI
(11:46):
chief with Microsoft's chief. A lot went on in the
in the markets this coming week, though, let's talk, you know.
I say this often. One thing that my wife Sup
taught me before she passed was don't trip over what's
behind you. Don't trip over what's behind you. It's a
(12:09):
powerful statement when you put it in perspective, and she
and I used it. We kind of laughed about it.
But when you think about it, don't trip over what's
behind you could save you a lot of a lot
of disagreements and stress and everything else. Don't trip over
(12:29):
what's behind you. So let's move on to this coming week.
What do we have. On Tuesday, the Bureau of Labor
Statistics will release the job Openings and Labor Turnover Survey
for both September and October. As I said, folks, things
are little late. At the end of August, there were
like seven point two two million job openings and one
(12:51):
point zero two unemployed people for every open position, the
highest ratio since early twenty twenty one. So anybody who
says they can't find a job, folks, there's jobs out there.
So anybody who says they can't find a job, don't
believe them. There's a job out there. There's a job
out there for everybody who's unemployed. And then, as they
(13:14):
said Tuesday, Wednesday, the Federal Open Market Committee will announce
on Wednesday afternoon, they have a two day meeting the
Monetary Policy decision. Basically, they're expected to cut the Fed
funds rate by a quarter of a percentage point to
a range of three point five to three point seventy
five percent. The Central Bank also releases its quarterly Summary
(13:38):
of Economic Projections the September sep the meeting and projection
for the Fed Funds rate by year end twenty twenty
six was three point four percent, which basically would apply
only one more quarter rate cut, assuming that the Federal Reserve,
the Federal basically Open Market Committe fo MC is what
(14:01):
they go by. Cuts is expected at this meeting. Traders
right now, as they said, they're pricing in a roughly
three percent federal funds rate by the end of twenty
twenty six, which means a little bit more on the
cutting block. You'll see interest rates be cut. That's what
That's what the investors are saying. You have comments by
(14:24):
Kevin Hassen, who right now may be in the running
for taking over J. Powell. We know there's no secret
President Trump does not like the Federal Reserve chairman J.
Speaker 2 (14:34):
Powell.
Speaker 1 (14:34):
His term ends the spring, and President Trump will be
replacing him. Kevin Hassen is right now one of the
front runners. He's currently Director of the National Economic Council
and favored basically to replace Jerome Powell. As they said, J.
(14:55):
Powell's term ends in May. We'll see what happens. You know,
it's it's this president and most presidents always want the
Fed to cut cut, cut, you know, cutting interest rates.
It's good for the economy. Good for investments. And you
(15:15):
know this, This president makes it known he wants more cuts.
He feels that the federal Reserve isn't cutting knot. So
there you have it for the week. As I said,
the nasdak QQQ or let me rephrase it, because now
we own qqq M in our qualified accounts, our retirement accounts,
(15:36):
qqq M lower internal management fees. Folks, Hey, if we
can save you money, let's save money. Right. Isn't that
why we shop on Black Friday and look for those
sales and Cyber Monday? Right, every every penny saved, there's
a penny that you can kind of sock away. So
qqq M is up one point zero one percent this week.
(16:00):
The entire NASDA composite is up point nine one percent.
Even Russell two thousand was up point eighty four percent,
SMP up point three one percent. Year to date, the
SMP is up almost seventeen percent, close to eighteen percent.
If you add in the dividend NaSTA composite, the entire
(16:21):
composite up twenty two point one percent. Qqq QQQM is
up twenty two point three percent. Now, Russell two thousand
is even up thirteen point one percent. So there you
have it. The markets are really twenty Listen the bad
news bears, I love it when they project that the
markets aren't going to do well, the markets are going
(16:43):
to fault, they're going to you know, just sink. Well,
that hasn't happened. And I always give credit to harmony
where you know one of my rock stars who a
few years ago in one of the webinars, said, you know,
investors always feel that when there's volatility, when they lose
a little bit of money on paper, when there's a
market correction or worse, she had a bear market, or
(17:05):
even a recession setting in. They always think the world's
coming to an end. And guess what, the world does
not come to an end. It just it continues to go.
It's like the energizer bunny just goes and goes and goes.
Mortgage rates are coming down close to six percent and
(17:25):
seven percent. That is phenomenal news for anybody out there
looking to buy a home, or maybe sell their home
and buy a different home. You know, margage rates. Listen,
we were spoiled when they were less than three percent
not too long ago. It was like free money. And
if I said it once, I said it a million times.
(17:47):
Maybe not a million, but I said it a lot.
You get the picture that when mortgage rates were under
three percent, anybody who wanted to borrow money go out
and borrow as much as you can, because when mortgage
rates go up, that makes it huge difference in your
mortgage payment. And a lot of people couldn't afford the
home that they wanted to afford when mortgage rates went
(18:08):
from three percent to close to seven percent. So here
we are, mortgage rates are slipping a little. The thirty
year national average is six point three percent, the fifteen
year national average is five point seven one percent. And
I'd be you know, if I didn't talk about gold.
Gold sitting at forty two twelve an ounce, the high
(18:32):
is forty three thirty six an ounce, up sixty percent
year to day. I wish we we we we we
invested our client's money in gold, but we didn't. And
you know, I always say gold commodity. It's a commodity.
There has to be a buyer and a seller to
make that trade happen. And we missed, we missed the
(18:55):
gold run. The gold bugs that are out there, those
that cashed in, they did well. And if by chance,
you put a lot of money in gold, and you
have an overweight position in gold, Now maybe a good
time to maybe trim back, take some money off the
table if you have too much money invested in gold,
if you feel that your gold is more than you
(19:18):
wanted it to be. And that happens when you know,
when you have an asset class like gold go up
sixty percent year to date, you know, all of a sudden,
if you had a five percent target weight, you know,
maybe it's closer to ten percent, and if you want
to keep that five percent, now is a good time
to trim that back. We did that with our client's
portfolios not too long ago, where we trimmed some positions,
(19:43):
some positions like Apple that really you know, had a
great run and went up more then our target weight.
We trimmed that back and invested in and other things.
I'll talk about that on the other side of the
news break. Really, our investment committee really made some pretty
(20:03):
good moves over the last couple of weeks that have
really been very beneficial on behalf of our clients, very
very beneficial. One eight hundred eight two five five nine
four nine one eight hundred eight two five fifty nine
forty nine. If you have any questions, folks, any questions whatsoever,
(20:26):
give me a call. I would love to talk to
you anything that you want to talk about. I kind
of hit it around at the beginning of the show.
I'll even talk to you about Christmas gifts. What I
mean by that is it's Christmas. It's the holiday season, folks.
Do not if you're still going out and buying Christmas
gifts for everybody in the family and you're just spending
(20:51):
money that you probably shouldn't spend, just stop. Stop, you
gotta stop, you just gotta stop. Don't do it. You know,
I love the families that have you know, where you
pull a name out and you buy one gift. You
make it a special gift that you can buy. You
(21:12):
can put some thought into that gift for that one
person and the family. Doesn't that make sense rather than buying,
you know, for everybody, you know, your uncles and your
cousins that you haven't seen forever. You know, take it.
Do that secret Santa where you pull a name out
(21:32):
of a hat and you buying one gift for one person.
Think how much less time you're going to be spending
in those crowded malls, take time for yourself, take a walk,
not in the mall, but take a nice walk, enjoy
when the sun's out, and you know, just just just
(21:52):
stop going out and buying a hundred gifts for one
hundred people. Maybe buying one gift or two gifts. Anyway,
that's just my personal opinion. Hey, we're coming up to
the bottom of the hour. We have to take a
break for the news. You are listening to Let's Talk Money,
brought to you by Bouchet and Andrew, where we help
our clients prioritize their health while we manage their wealth
(22:15):
for life. I can't thank you enough focus for tuning
in on this Sunday morning, and I hope on the
other side of the news break I can help you
with any questions you may have. One eight hundred eight
two five, five nine four nine. One eight hundred eight two,
five fifty nine forty nine are the phone numbers. We
(22:35):
will take a quick news break and on the other
side of the break, Ashley and I will be here.
One eight hundred eight two, five, five nine four nine. Hello,
Hello folks, Thank you for hanging in through the news.
I can't thank you enough for tuning in today. I
truly I thank you every weekend. It's a pleasure to
(22:58):
be here with you. I'm really honored that then you
tune in and you give me an opportunity of talking
about different investment topics and financial planning topics, and if
there's anything on your mind that you'd like to call in,
don't don't hesitate, don't be shy, give us a call. Ashley,
my producer and I are sitting here. We would love
(23:19):
to talk to you. One eight hundred eight two five
five nine four nine one eight hundred eight two five
fifty nine forty nine. Any questions whatsoever, Give me a call.
I would love to talk to you. So, you know,
the markets were up last week and we we we
(23:40):
had some you know, good things. It was a transition
week from risk on like artificial intelligence and growth driven
to a more cautious, yield sensitive environment, and that sets
up nicely. You know. That's why having a well diversified portfolio,
where you're balancing growth and value and risk, you know,
(24:03):
that's that's really really what you want to do. You know,
we're coming up to the end of the year. The
one thing that you absolutely should be doing, folks, is
basically looking for any losers in your portfolio. And listen,
maybe you're lucky and you don't have any losses, but
(24:25):
if you have any losers in your taxable accounts taxable accounts,
not retirement accounts, your taxable accounts, if you have any losers,
sell it, buy something else, and you know, basically book
those losses. You can offset gains dollar per dollar, and
then you can offset earned income up to another three
(24:48):
thousand dollars. That's money in your pocket, folks. Why you
know you want to harvest those losses. So every year
at this time we try to remind investors to do
some tax loss harvesting and sell the losers, get rid
of the losers, and replace it with something else. You can.
You know, as long as you don't replace it within
(25:10):
thirty days with the exact same investment, it's okay to
sell those losers and replace it with something else. So
you really, you should really think about harvesting some losses
and take advantage of that rule that IRS gives you.
It's a nice it's a nice rule. It's money in
(25:30):
your pocket. One eight hundred eighty two five five nine
four nine. We're going to go to the phone lines
where we have Jay and Latham.
Speaker 2 (25:37):
Good morning, Jay, Hey, how are you?
Speaker 1 (25:41):
I'm doing wonderful.
Speaker 2 (25:42):
How are you good? I have a couple of questions
to ask. One is we are transferring over we consider
a substantial amount of money. We will be coming up
and seeing you next week making a from our current investor,
which we are not happy.
Speaker 1 (25:59):
With at all.
Speaker 2 (26:00):
Okay. We also have ge stock to add to the trust.
That's my mother in law's trust. We also have a
ge stock to add to it. The problem having with
GE is there a company I think it's called EQ
and they're handling the portfolio. Now. Keep said them the
information three times because three different times I wanted to
(26:23):
get that cashed out and put into her trust fund.
And they never respond, they never acknowledged they got it,
and we're stuck in a limbo here and I don't
know what to do.
Speaker 1 (26:36):
Yeah, well, what you want to do is absolutely come
in and see us, and I thank you for that
vote of confidence. I can assure you, Jay, when you
come into my office, I'm surrounded by twenty twenty almost
twenty one professionals. And when I say professionals, professionals, we
have four CPAs an IRS enrolled agent ten certify Financial Planner.
(27:00):
I have a lot of expertise on my team and
you shouldn't be inconvenience like that. And I apologize that
you know you're not having a good go around with
your current advisor. But I can assure you when you
come in if you feel comfortable with us, and I
think you will when you hear our story and you
(27:20):
see exactly what we do and how we work with clients,
I can almost assure you. I can't make guarantees other
than I always joke and say investors will lose money.
That's the only guarantee I give them, because you will.
You know, investors will a day, a week, a month,
sometimes a year. You know, there were two years over
(27:41):
the last eleven where investors lost money. So there's no
guarantees that everything goes straight to the moon. But I
can almost guarantee you that you will feel very comfortable
with my team. You will feel like we will help you,
and I promise you we will help you, will help
make sense out of all that you're going through and
(28:05):
get you know, basically, get done what you want to
get done. And if you need to get it done
by the end of the year, then you know, give
my client conciergees my daughter, my favorite daughter, Lauren. So
give Lauren a call on Monday morning and she will
book you asap to come in and let us get
you pointed in the right direction. Let us help get
(28:27):
things straightened out.
Speaker 2 (28:29):
You think you can get this GE thing straighten out,
because twice I wanted to sell when it was six
seventy five and I couldn't get it, and then it
dropped and I called GE and complained about EQ and
nothing happens there. And now we just got a thing
in the nail saying one of my EQ stocks, which
is a breakoff from GE, which is GE Healthcare, is
(28:52):
now in the hands of the state because we didn't
do something, which we've always done everything. And to give
you a I'm just going to give you a number.
It may not be the right number. So my investor
we invested, we cashed out life insurance policies and everything on.
My father in law died. We gave the investor about
four hundred thousand dollars and it's basically the same thing
seven years later.
Speaker 1 (29:13):
Yeah, well, you know, listen, I mean I give this statistic.
Often if you look at the average returns over you
know time, I'm telling you I I Over the last
ten years, the average return year in, year out for
(29:33):
the S and P is almost fourteen to fifteen percent.
The average return for Nasdaq is almost twenty percent. Over
the last five years, it's been sixteen percent year in,
year out, sixteen percent for the S and P five hundred.
You know, if you haven't made money, then you know,
(29:54):
maybe you have an advisor that's just not aware of things.
At the S and P five hundred index, year in,
year out over the last five years, your average return
fourteen point seventy five percent. So you're missing out on something.
I don't know why. I don't know what your investor
has you invested in.
Speaker 2 (30:12):
But listen, well, Charles Schwab and they're doing the investing,
and I'm just not happy.
Speaker 1 (30:18):
Well, our you know, we managed one point five billion dollars,
so that means that so to not the long and
short of it, Jay, our client's money one point five
one point six billion. Now it's all at Charles Schwab.
Charles Schwab is just a platform. So we could use
Vanguard Fidelity, we could use well in the old days
(30:41):
td amer Trade. I've used Schwab I became a fiduciary
back in nineteen ninety three. I haven't sold an investment,
earned a commission. I haven't had a conflict of interest
investment wise since nineteen ninety three. I've always used Charles
Schwab as a platform for clients because one, we don't
get paid anything from Charles Schwap. I could use any company,
(31:04):
but Charles Schwab then and now is always the biggest
and the best. But we bou chef and answer group.
We are responsible for managing our clients portfolio. Your advisor
right now is responsible even though the money's at Charles Schwab.
Charles Schwab is just like you know.
Speaker 2 (31:23):
They don't say where your money's going.
Speaker 1 (31:25):
Correct your advisor is, And maybe your advisor's just taking
things for granted or falling asleep at the wheel. I
remember fifteen years ago after the financial collapse where the
S and P was down fifty percent. I remember telling
clients seven eight nine that listen, if you have an
advisor that's like a deer on the highway with the headlights,
(31:48):
you know, just binded and not sure what to do.
You need a new advisor. I say often volatility is
our best friend, my investment committee made some changes in
the portfolio a couple of weeks ago, and they've been dynamic.
So just to give you an idea, we trimmed some positions,
sold out completely of another, and replaced it with three
(32:11):
new ones. We went, we love we love artificial intelligence.
So we bought SMH, which is the van X Semiconductor ETF.
So it's a basket of semiconductor companies nl R because
we believe because of artificial intelligence and everything, nuclear is
(32:32):
going to do well. And we bought bitcoin, first time
in a long time, Jay that we bought bitcoin. We
you know, we weren't sure if it was here to stay.
Long story short, Bitcoin is here to stay. We bought bitcoin.
Those changes that we made in the portfolio over the
last two weeks up ten point four one percent on
(32:54):
behalf of our clients. That's what I mean when I
say when we see volatile, we want to take advantage
of it. My investment committee, they did their due diligence.
They you know, basically dotted the i's cross the t's.
They said, Steve, we feel this is a good time.
I made them spell it out. I made them state
their case why they felt it was a good time.
(33:17):
In hindsight, they were right on our clients. Just those
changes in the portfolio up ten point four one percent
in two weeks. So maybe have an advisor that's just
not up to managing money or afraid to manage money,
or maybe he or she has you in a conservative portfolio.
But all the more reason to call our client concierge,
(33:40):
my favorite daughter Lauren on Monday and have her set
up a meeting. I'll let her know if you call
to get you in asap so we can help straighten
out your financial affairs.
Speaker 2 (33:52):
What's that client concerious number?
Speaker 1 (33:56):
It is five to one eight seven to two zero
zero thirty three thirty three. Five one eight seven to
zero thirty three thirty three. And we have you know,
we have an office in historic downtown Troy, right on Broadway,
across the street from my starbucksing.
Speaker 2 (34:16):
My office is in Colony, So so.
Speaker 1 (34:18):
Perfect Troy would Troy would be suitable for you?
Speaker 2 (34:23):
Okay, perfect Jay. Thank you for all your health.
Speaker 1 (34:27):
Jay, enjoy your Sunday, and thank you for calling in
and thank you for the confidence and us I think.
Speaker 2 (34:33):
I think you can't wait to see it.
Speaker 1 (34:35):
Yeah, good, perfect Jay, Thank you you'd be well, have
a happy Sunday Funday, right, Is that what they're saying is, yeah, absolutely,
it's Sunday Funday. Right. It's like, yeah, all right, Jay,
oh that's a good call. You know, a folks, I
am so proud of what we do on behalf of
(34:58):
our clients. And you know, as they said, my investment
committee did their homework. They felt that we had some dogs.
They wanted to trim one. We sold out completely. They
gave me recommendations for what they felt would work. And
I know it's only a couple of short weeks, but
being up ten point four to one percent because of
(35:19):
those trades is pretty dynamic. Even bitcoin, and believe me, folks,
bitcoin is Listen, there's a lot of reasons why you
shouldn't own bitcoin. We believe in it long term and
it's probably one of the more emotional investments that that
investors get caught up on. One. It's volatile. You know,
(35:42):
just just this week you've seen bitcoin, you know, up
and down, up and down. You know, the high was
one hundred and twenty six thousand, It dropped down to
one hundred and eight thousand, went back to one hundred
and fifteen thousand, came back to eighty five thousand, which
is where it was in April, and that's when we
bought in. We bought in when it was at eighty
(36:04):
five thousand. Today, as we sit here, you know, bitcoin
trades all the time, so as I sit here right now,
it's still you know, just about eighty nine thousand. So
we're up in bitcoin, and it will be a volatile trade.
I'm you know, I can't begin to tell you don't
buy bitcoin if you don't want volatility. But that's how
(36:27):
you make money, is putting adding some risk into the
portfolio that's controllable. We didn't add a whole bunch of
bitcoin in a portfolio. Like I'm in what we call
our all equity position. That means I am one hundred
percent investment in the stock market. I don't own any bonds.
(36:47):
I don't want to own bonds. I'm very comfortable with
the ups and downs in the market. The market goes up,
the market goes down. Guess what, the market always has
always come back and gone on to make new all
time highs. So you know, that's why I'm comfortable with
an all equity portfolio. So bitcoin in the all equity portfolio.
(37:11):
It accounts for about about three percent of the equity
sleep our growth and income strategy, which a lot of
our retirees are in less than two percent. So are
we shooting for the stars? Are we really taking on
undue risk? I don't think so. With less than a
two percent position, if we feel in bullyeve me, we
(37:34):
wouldn't buy it if we didn't think we can make
money with it. And in two short weeks being up
ten point four to one percent because of the trades
that my investment committee made is pretty remarkable. So volatility
comes with crypto bitcoin, and as I said, that kind
(37:56):
of volatility can be unsettling for investors who wants to
be or predictable returns. But then you're going to be
stuck with, you know, predictable returns not making a lot
of money. So we've had a couple of clients that call.
Because we we notify our clients, we are very transparent
and that's one thing Jay will find out when he
(38:18):
comes in. We let our clients know exactly what we're doing,
why we're doing it. We had a couple of clients
call say, oh, you know, I'm uncomfortable with with you know,
what's this bitcoin? So after we explain it, and our
advisors are all well educated on it, after we explain
why we bought it and why we feel comfortable with it, well,
(38:39):
you know what they felt comfortable. You know our clients,
you know they they basically the reason why they engage
our services is for us to take the emotion out
of the decision making process. That's what we do best.
We take the emotion out of the decision making process.
(39:00):
Let me give out the phone numbers one, eight hundred
eighty two, five five nine four nine, one eight hundred
eighty two, five fifty nine forty nine. If you have
any questions, give me a call, any questions whatsoever. So
we take the emotion out of the decision making process,
because hey, we're all human. You know I'm human. When
(39:22):
the market goes down, folks, I never ever, ever do
I look at my portfolio ever, And I mean that
I know that we have good investments. I know my
investment committee as us well diversified. I don't need and
my money is invested just like my clients. Actually, I
can say all of my advisors their money and my
(39:45):
leadership team their money is invested just like just like
my clients, and I wouldn't have it any other way.
You know, there's no way I'm going to manage my
money differently than my client's money. So the only difference
is I have like for what we call sandbox accounts
where I kind of play and actually ed Wilhelm, one
(40:07):
of my traders, he does the plane for me. We
follow some things and he makes changes each month to it,
and I have fun with it. Listen, when you're a kid,
you always played in the sandbox. You have some fun, right,
That's why we call them our sandbox accounts, our fun accounts.
So I have. I have a handful of sandbox accounts.
One of them is just invested in bitcoin. On investment
(40:32):
in bitcoin, and I've made a lot of money in that,
so I you know, I'm not worried about bitcoin long term.
It it does go up and down.
Speaker 2 (40:44):
You know.
Speaker 1 (40:45):
When when markets move, risk go off or there's policy shifts,
Crypto tends to be damaged alongside stocks. There's a correlation there.
Stocks are considered risky assets. I don't consider them risky
long term, but a lot of people watch the stock
market every day. Some people watch the stock market all day.
(41:07):
There's better things they can do in their life than
watching their investments all day, every every five minutes, looking
at where where their investments are. Just forget about it.
If you have a good, well diversified portfolio, forget about it.
But crypto is correlated with risk assets. You know, it's
(41:27):
you know, we like it, regulatory and structural uncertainty. Crypto
remains subject to regulatory scrutiny, but it's getting better, and
a lot of institutional frameworks like retirement plans, still have
limited or no exposure, but they're getting more and more exposure.
(41:48):
So when that happens, you're going to see I believe
you're going to see something like bitcoin do well. So
we were always looking at learn from the past, but
we're always looking ahead. Another reason why we felt that
bitcoin has a little place in the portfolio. Minimal, minimal,
(42:10):
but a little bit here, a little bit there that
goes and adds up. As I said, you know, those
three new additions to the portfolio in two short weeks
account for ten point four to one percent difference between
what we own and what we own. Now. You know bitcoin,
you know it's had big rallies, it also suffers with
(42:31):
big drawbounds. It's it's hard for conservative or retirement oriented
investors to rely on it, which is why our clients
kind of rely on us. When bitcoin becomes part of
Forum one K plans and they're working on it, now
you know it's it's going to be a game changer.
(42:52):
So that's that's my thoughts on bitcoin. As I said,
a lot of clients wonder why we bought it. We
bought it these we thought it was good diversification, and
we think we can make money with it. And if
we're wrong. Listen, sometimes we get into something, we'll get
out of it. If if it's not good, we'll we'll, we'll.
We'll see what happens on the other side of the coin.
(43:16):
Gold had a good week. Precious metals and gold investors
appear to have moved towards safe haven alternative assets like
gold and silver, basically possibly hedging against rape and macro uncertainty.
We'll see what happens about that. The coming days. We'll
(43:36):
see earnings from big major corporations, and between that and
the Fed, you know, whatever they decide on Tuesday and Wednesday,
we'll find out Wednesday afternoon at about two fifteen. That'll
give us a clue of what we may see in
(43:57):
twenty twenty six. So there's you know, there's there's there's
a lot going on with the investment world and on
the investment front. But you know, bottom line, you shouldn't
you shouldn't be really afraid if you have a well
diversified portfolio, you're comfortable with the risk that you're taking.
You shouldn't be afraid of having a well diversified portfolio.
(44:21):
That means, you know, if you want safety, then you
should just buy one hundred percent buy go, buy CDs
or you know the treasuries. You know right now the
ten year treasuries yielding right now four point one three percent.
And as I said, over the last fifteen years, your
(44:42):
average return in the S and P five hundred index
year in year out is fourteen percent. Your average return
in QQQ or QQQM are new holding because we save money,
your average return year in, year out over the last
fifteen years is nineteen percent year in, year out. And
(45:04):
if you want, if you want safety, people look at
bonds as being safe year in, year out over the
last fifteen years, the same fifteen years that the SMP
is up fifteen percent and NASDAC is up nineteen percent
the same fifteen year period. If you bought the bond index,
(45:25):
which is really you know, the ice shares core US
aggregate bond ETF two point three three percent two point
three three percent year in, year out. If you want stability,
which is why our clients have a well diversified portfolio,
because we have some of those stocks year in, year
out up fourteen percent QQQ year in year out up
(45:48):
you know, nineteen percent, and the bond portfolio year in
year out up two point three three percent. Folks, I
can't believe this hour has passed by. You are listening
to Let Talk Money, brought to you by Bouchet Finance Group,
where we help our clients prioritize their health while we
manage their wealth for life. Go to our website Bouchet
(46:09):
dot com. That's biz and boy O U C h
E Y dot com. There's a lot of good information there.
We have, you know, podcasts. We have our year end
tax planning seminar. We give it to you for free.
Go to our website Bouche dot com and you'll see
(46:30):
it for free for now. I hope you enjoy this Sunday.
I hope you enjoy the holiday season. I hope you
come back next Saturday at ten am, next Sunday at
eight am. In the meantime, stay healthy, be well, folks.
I'll talk to you next weekend.
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