Let's Talk Money

June 7th, 2026.

Episode Transcript

Speaker 1 (00:00):
Good morning, folks, Thank you for tuning in. Sunday morning,
bright and early. Looks like it's going to start out
to be a nice day, but we know we're gonna
have some rain later in the Capital Region area for
those of you that are listening in upstate New York.
But wow, what a Belmont finished yesterday. We talked about that,

(00:20):
you know, the last hurrah for the Belmont three years.
We've been blessed to have it in Saratoga.

Speaker 2 (00:26):
And no more.

Speaker 1 (00:27):
They'll be in the real Belmont next year. But it
was exciting and the race was exciting. Sherry Deveau, Oh
my god, she was. She was just outstanding with her
training abilities and having golden ten bout wind not only
the Derby, but now the Belmont, the third leg of

(00:48):
the Triple Crown. What a beautiful race. What a beautiful
day they were. I don't know what the attendance was.
I never saw so many people there. It was like
a traverse day. It was Jane had and it was
nice to see. Anyway, you're not here to talk courses.
You're here to talk money. And if you have any questions,

(01:08):
any questions whatsoever, give me a call. I would love
to talk to you. The phone lines are open one
eight hundred talk WGY one eight hundred eighty two five
five nine four nine. Any questions whatsoever, folks. One eight
hundred eight two five five nine four nine. So last week,

(01:33):
at nine weeks of the markets being last week, we
gave some back. That's okay, it happens. It happens with investments.
Remember you hear me say often hi loo e to
trop The average swing for the last forty seven years
fourteen percent. Fourteen percent a year, folks, that's how much

(01:55):
the market swings. That's on average, some years less, some
years more. And as I said yesterday, I said last week,
I've said more than once. We're just one hundred days
into this war with Iran. And to think that the
market went down less than ten percent, that brought stock
market lost less than ten percent at its low point,

(02:18):
that still boggles my mind. I thought for sure it
would be a whole lot more than ten percent. It
wasn't even ten percent. I think it was nine point
five or nine point six percent. But you know, one
hundred days into this war. Vietnam war was nineteen years,
so we're only one hundred days into this war. Hopefully

(02:38):
it comes to an end soon. You know, it's being
closely watched. We know it's a big milestone, one hundred
days since the war began on February twenty eighth, and
you know, right now we just have a big conflict
there and the straighta hor Moose remains a big concern.

(03:00):
The markets, they care about uncertainty, and there's a lot
of uncertainty right now. And this is what I think
holding the market back. Energy prices. Will they spike more?
Will inflation increase? Will the Federal Reserve be effected? Speaking
of the Federal Reserve, it was nice to see Kevin
Walsh at the races yesterday rooting on Deterministic in Manhattan,

(03:25):
and the security was heavy. Kevin was just a couple
of boxes down from my box, and it was nice
to see Kevin there, you know, on to have somebody
of that stature being the Federal Reserve chairman, it was
nice to have them close by. And it was you know,
it was good, It was exciting. It was an exciting day.

(03:48):
I guess forty eight thousand people were at the races yesterday.
A good friend of mine and client just texting me,
she must be listening. Thank you, Jony, So forty eight
thousand people, that's a pretty good number of folks, No
wonder it seemed like it was so crazy there. So

(04:10):
you know, as I said, the markets care about uncertainty,
and we have a lot of uncertainty with this war.
But as President Trump said in an interview this weekend,
it's only one hundred days. We just marked one hundred
day mark, which is a milestone, a big milestone. Nobody
wants to be in war in the markets absolutely don't

(04:32):
want uncertainty. So obviously the price of oil is affected
because of this war, and will energy prices spike, will
oil go It was ninety dollars a barrel. The high
was one hundred and thirteen dollars a barrel, and the
low over the last fifty two weeks was fifty fifty
five dollars a barrel. So here we are sitting at

(04:53):
sitting at ninety dollars a barrel, So a whole lot
less than the high of one hundred and thirteen dollars
a barrel, a whole lot more than the low of
fifty five dollars a barrel. And obviously, if oil goes
up because of this war, gets messier you'll see the
price of gas go up. We know we're paying more

(05:16):
at the gas pump. We know that's affecting so many people,
especially people that can't afford to put gas in the car.
You know, when I'm pumping gas, I actually look for
people that I think, maybe, you know, short on money,
and if I see them just putting five or ten
dollars into their car, I'll actually pay to fill up

(05:37):
the car because I figure they just don't have the
money to fill up their car, and that's the right
thing to do. If I can help somebody out by
by by giving them a full tank of gas, I
will do that all day long. Inflation, you know, we
know we had a robust jobs number for the month
of May, one hundred and seventy two thousand new jobs.

(05:58):
We know we have ninety three thousand revised additions to
the March and April jobs report. So inflation is close
to three percent and two percent. We'll see what happens
with inflation. More than likely when the Fed meets next
it'll be Kevin WASH's first time making little speech at

(06:22):
the end of the two day market Open Market Committee
meeting in June, and more than likely, folks interest rates
will stay the same. I do not believe you will
see it. God, I'm not sure you'll see a hike either.
But before the year's out, if inflation continues, if we
keep having robust jobs report, you could see a hike

(06:44):
in interest rates. And remember the Fed hikes interest rates
to slow down the economy if they feel they need
to put the DD you know, top the brakes. Let's say,
and you know, corporate profits, will they suffer? Well, let's
let's face folks, we just were finishing. Ninety eight percent
of all the S and P five hundred companies have

(07:06):
reported first quarter corporate profits and talk about being healthy.
Corporate America is doing just buying. Do not worry about
corporate America. We have an economy that's pretty resilient with
all the stuff that's going on. We have an economy
that's hanging in there. In Corporate America continues to make

(07:27):
money and have positive projections. 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.
Let's go to the phone lines where we have Bob
and Kat.

Speaker 3 (07:45):
Hello Bob, Yeah, Hi, Steve I wanted to give you
a call. I'm going to be your reporter here. Yesterday
I was over in Troy, over at the Hilton Hotel
in the morning, and I had to drive back down
to you know, from the Castleton area, had to drive
back down. I took seven eighty seven south and took

(08:10):
the Lower Bridge, the you know, the dun Bridge. As
I'm driving down, I'm noticing right in the road there
on seven eighty seven all these railroad cars, the oil cars,
you know, with the you know, they made a big
stink about it years ago, I mean years ago when
they would have all these oil trains and the people

(08:31):
were upset about them and all that. But anyway, there
was hundreds of looked like a hundred cars or more
right on the tracks there. So I drove further down
to the yard where they where they delivered the oil,
and the yard was full of cars, I mean every
it was just loaded. So I think we're producing oil again.

(08:54):
I've seen it earlier, maybe like a couple of months ago.
It was basically no cars down there. So we're reducing
oil in North Dakota now and really getting it out there.
So that goes down to New Jersey, to the refinery
down there in New Jersey, and who knows what we're

(09:17):
doing with that, delivering it out to overseas or whatever.
But what I'm noticing the price of you know what,
I'm getting gas, it's going down. I'm noticing it's cheaper.
In fact, yesterday I was over on the Ou'sic Road
and got gas there, and the prices in Troy are
are good. They're getting down. I mean it's still over

(09:38):
four dollars, but at least it's heading down.

Speaker 1 (09:41):
You know. Being a Troy boy, I loved the reporting
you're doing, Bob, and I've loved the fact that you're
spending some money in Troy. You know, our office, we've
had an office there for about twenty two years, twenty
four years now in historic downtown de Troy. But going
back to oil, you are right. You know, a lot
of people think that Saudi Arabia is the world's largest

(10:03):
oil producer. It isn't. We are, this great country of
ours is the largest oil producer. We are number one.
We've held this position since twenty and eighteen. We produce
more oil than Russia and Saudi Arabia on average, Bob,
we produce between thirteen and fourteen million barrels a day

(10:28):
compared to Russia just shy of ten million, Saudi Arabia
nine and a half million, and then, believe it or not,
the fourth largest countries Canada, at less than five million
barrels a day. So in Iraq, for those of you
that are wondering, four point four million barrels, we produce,

(10:48):
you know, forty percent more crew than either Saudi Arabia
or Russia. And that's that's that's big. And when, as
I said a few moments ago, about the high point
for oil was one hundred and thirteen barrels, I'm sorry,
one hundred and thirteen dollars a barrel. And the low
point over the last fifty two weeks was fifty five

(11:12):
dollars a barrel. So we're sitting here at ninety dollars
a barrel. So it's come down pretty far from that
one hundred and thirteen dollars high point. And that's why
you'll see the price of gas come down. It won't
come down as fast as the price of oil because
these these resellers buying you know, the gas and so forth,

(11:37):
it takes a while before that comes into inventory. But
I am hopeful. I am very hopeful, Bob, that when
this war is over, and it will be over as
they said. And I'm not here defending President Trump every day,
I mean, including today, we're coming to an end. We're
coming to an end. Well, god darn it. Let's get
an end to this war, one way or the other

(11:59):
so we can go on. And I think when there
is an end to this war, and there will be,
I think you'll see the stock market continue its rally.
I think you'll see the price of oil come down more.
That means the price of gas, that the pump will
come down. That will ease the scare of inflation rearing

(12:20):
its ugly head more than we wanted to. So a
lot is built into the price of oil. And you
are right, you're seeing this country ramp up production because
now we're selling oil to countries like China. Who would
ever think that these ships. It's easy for China to
send a ship from China to Alaska to fill up

(12:40):
on oil and they don't have to deal with that
straight up her amuse. So, I think the people of
Iran are realizing that, you know, they if they don't
get this war settled into an end and not the
people of Iran, because it's the thugs that run Iran.
There's some really good people in Iran, friends with more
of them. I talk about her every once in a while,

(13:02):
and she tells me how our family's still in Iran.
And the people of Iran just want want President Trump
to be very successful at ending this warbies they not
only has the world been living in fear of the
leadership of Iran, but the people of Iran have been
living with this dictatorship and it hasn't been good. So

(13:25):
a lot is going to be hanging on when the
war comes to an end. Bob, And I'm glad you
pointed it out. I'm glad you're you're letting them listening,
audience know that there's oil bounty. There's a lot of
oil around, and that's because we are a number one. Yeah, well, Steve,

(13:45):
thank you, thank you for your reporting. I like it
when the nurse call in with some information that we
may not be aware of. But Bob is right. Listen,
we're number one, folks, no matter what you think, we
are number one when it comes to producing oil. We
are number one. So my dear friend barn is driving

(14:10):
to New York City and listening to the show as
they do every Sunday morning, and my horse came in
fourth yesterday, But the jockey was the best looking jockey
at the track wearing my silks, and I got a
nice picture with Flabby and Pratt. He was my jockey yesterday.
Chad Brown was the trainer yesterday for my horse. But

(14:32):
we came in fourth. As somebody said, we were the
favorite one to four, so that means if he won,
he might have won maybe twenty thirty cents. But it
was the best looking jockey of the day. And as
somebody said, even though we were favorite, when the horses raced,
they don't know the odds that they're racing against. They

(14:55):
don't know if they're a favorite or a long shot.
They just go out and they just they just race.
So thank you for asking me about that. I got
my hair and nails done. I always do that hoping
I get in the winter circle, but I did not,
not yesterday, But there will be a day, hopefully before
the summer is over, where I get in the winter circle.

(15:17):
It's a nice hobby, folks. I do not recommend you
get involved in horse racing unless you want it to
be a hobby. You have discretionary income, and there's a
lot of good ways to get in. There's a lot
of great partnerships like West Point Thoroughbreds, where you can
get in for a little amount of money. You can
be considered an owner. You can you can have all

(15:39):
the benefits of being an owner. It's it's fun. It's
it's a lot of fun. I enjoy it, but it
is a hobby. One eight hundred talk WGY one eight
hundred eight two five five nine four nine. Let me
take a quick fifteen second break. Don't go anywhere, folks.
I'm back, folks. Thank you for loving me. I put

(16:01):
on a nice cup of or a pot of coffee
this morning, and I'm really enjoying it. Some mornings you
enjoy coffee more than other mornings, and I'm really really
enjoying it. One eight hundred and eight two five fifty
nine forty nine. If you have any questions, give me
a call. I would love to talk to you. So
you know, why did that amazing robust jobs report one

(16:25):
hundred and seventy two thousand jobs doubble what we were expecting.
We were expecting eighty thousand, one hundred and seventy two thousand.
Unemployment remained at four point three percent. Great news, right
for the economy. And you know the stock market went down.
Mastak was down four percent on Friday alone. Most of

(16:49):
the week's losses came just Friday, down four percent. And
why is it that good news causes stocks to fall. Well, remember,
the stock market does not like uncertainty. The stock market
does not like surprises. It's not really worried about the

(17:09):
jobs report. It's worried about interest rates. A strong economy
means the Federal Reserve may keep rates higher for longer.
As I said, when they meet, and the next couple
of weeks, you're probably going to see interest rates pause.
I don't have a crystal ball, but I do have
a crystal ball. I really do. I told you this
couple weeks ago. A new client of ours brought in

(17:32):
a family heirloom. It's a real crystal crystal ball. And
you know, these clients hear me talk about my crystal
ball on radio so much they actually getted it to me,
brought it in the office, and for any of our
clients who visit the Saratoga office, it's right there on
the conference room table. So I guess in a way,

(17:53):
I do have a crystal ball. But if I look
into my crystal ball, I don't think you'll see a cut.
You may not see a cut for the remainder of
the year or the cycle. You're probably going to see
interest rates palls, and before the year's out, you will
probably if the economy continues to grow, if we keep
adding jobs like we are, if the inflation keeps closer

(18:18):
to three percent than two percent, you'll probably see a
hike in interest rates. And as I said before that
little break, I took the FED. When they hike interest rates,
they're hiking interest rates. That put basically tapping their foot
on the brakes, just slowing the economy down. Higher interest
rates mean it costs more for people to borrow money

(18:41):
for a car, for a home, for businesses to invest
in their business. So they're slowing down the economy trying
to stop inflation from rearing it's ugly head. Remember, nobody
wants to pay more for goods and services. That's inflation. Folks.
When you pay a dollar for a loaf of bread year,
it's a dollar three, that's inflation. That three cents is

(19:04):
inflation three percent non average. If you look over time,
inflation averages between three and three and a half percent.
And I keep saying, and I've been saying this for
a couple of years now. The former BED chair J.
Powell has been harping that he wants inflation closer to
two percent inflation. The only time inflation was closer to

(19:25):
two percent was since the financial crisis. Going back to
two thousand and seven, two thousand and nine, inflation was
really nonexistent. But if you look over time, history will
show you inflation has average between three and three and
a half percent. So there you have it. And I
think the reports that come out inflation is going to

(19:47):
be around three percent again the next reading non inflation.
It's a whole lot better than a few years ago
when inflation was over nine percent, when the former administration
and farmer fed. I thought that inflation was transitory. While
you and I and everybody listening, we were paying more

(20:08):
in the grocery stores, we were paying more at the
gas pump, we were paying more for utilities, especially in
New York. You know, our utility bills are seventy percent
higher than the rest of the country. I wonder why
people are moving out of New York Between taxes and
the high cost of living here. Can you blame people
from moving out of New York? A lot of people

(20:29):
are moving out of New York. It's just crazy. You know,
politicians have to wrap their arms around the economy, and
you know, the just stop raising taxes to pay for misspending.
Let's rein in spending. Let's try to figure out a

(20:52):
way of having a more balanced budget, not by raising taxes,
but by reigning in the cost It's like every good
business person when they're running their business, they are running
their business for efficiency, not unfortunately in politics, whether it
be your local town, state, or government. Unfortunately, a lot

(21:15):
of people want they don't have a clue on running
a business. So how could they have a clue on
running a town, village, city, state, or country if they
don't have a clue on running a business. When you
run a business, you have to earn a profit or
you're out of business. Fortunately, politicians do not think that way.

(21:38):
They just spend, spend, spend, spend, spend, and they figure
that they can tax people all they want in order
for them to spend because they're not spending their own money,
they're spending our money, our money, folks, So we need
to rein in spending. We are over Listen, we are

(21:59):
over thirty thirty trillion dollars a debt in this country.
We can't we can't continue to go this way. There's
just no way we can continue to keep going further
in debt. And remember, with higher interest rates, one of
the biggest line items in the budget is paying countries

(22:22):
like China, Japan. I keep buying our bonds, we have
to pay interest, and with higher interest rates, we're paying
a whole lot more money and that just adds. You know,
It's like a household own money on a credit card.
That's what this country is doing. We have to rein
it in in this state. The state is terrible, terrible.

(22:45):
One eight eighty two five five nine four nine. You
are listening to Let's Talk Money, brought to you by
Booshaking Integroup, where we help our clients prioritize their health
while we manage their wealth for life. We are going
to take a quick for the news. I am sitting
here with my producer Katie. I would love to talk
to you. One eight hundred eight two five five nine

(23:09):
four nine. Any questions whatsoever, folks. One eight hundred eighty
five fifty nine forty nine. I'll see you right on
the other side of the news break, Oh Katie. I
love the music you play. Thank you very much, folks.
Thank you for hanging in through the news and thank
you for tuning in today. I can't thank you enough.
Every Saturday at ten, every Sunday morning at eight, I

(23:30):
truly appreciate listening. Audience. Is why this show is considered
one of the premiere talk shows in the country with
regards to money. Whether it's myself doing the radio and
I've been here with you for thirty one years, thirty
one years and I don't hire it. I love doing
the radio. I love being here with you. I love

(23:53):
pointing you in the right direction. Sometimes I love just
having you think outside the boxer, putting your advisor on
the spot by giving them good questions to ask. You
need to listen, folks. You get one opportunity to retire.
I want to make sure when that time comes that

(24:15):
you're prepared. The average Social Security check is twenty four
thousand dollars a year, some people less, some people more,
but on average twenty four thousand dollars a year. If
you're married, forty eight thousand dollars a year. If you
need more than forty eight thousand dollars a year to
live on, or that's your goal, then you need to

(24:37):
draw on your savings. That means for all those decades
that you are working, you need to be putting money away.
Especially if your company has a matching program with their
four O one K plan, you need to be putting
money away. Take advantage of that free money, folks, don't
pass up on it. If the boss is willing to say, hey,

(25:00):
if you put six percent of your salary away, we'll
match it. Whatever the matches. Sometimes it's twenty five cents
on a dollar, sometimes a dollar on a dollar. Whatever,
it is, free money, free, free, take advantage of that.
But you hear me say, if you're not putting ten
to fifteen percent away, you are not putting enough away.

(25:25):
You get one opportunity, an opportunity to retire. Make sure
you're prepared. One eight hundred eighty two five five nine
four nine. Let's go to the pue mines. We have
Paul from.

Speaker 2 (25:39):
Hello, Paul, see if I call you infrequently but specific
and I was working up there yesterday, have a ball
working at Saratoga. The point about inflation. I agree with
you that it's not to.

Speaker 1 (25:57):
We can debate this.

Speaker 2 (25:58):
Till the cows come home. Two weeks ago in Barons
there was an article on tips. I had already listened
to a seminar online about tips. If in fact you
look at the tip yields, and I admit I'm looking
on them, at what point do you think stacking tips
laddering them because you and I believe it's three more

(26:22):
like three not two, make them more attractive than any
sort of other bond risk adjusted because they're supposedly the
riskless instrument, right, and they give you inflation protection. And
the average person doesn't understand this. And even I have
trouble with the tip because I own eebonds and that's

(26:43):
easier to do the math on. So the tip, you
have to in your mind recognize that you can't defer
the interest necessarily like I am you can. You have
to recognize it as at a cruise. It gets into
tax issues. Could you comment on your view on tips
because there's state tax free and they inflating protection people.

Speaker 1 (27:07):
Yeah, a lot of federal bonds are are state tax tree.
This is why I always promote treasuries over CDs. Because
you're paying the interest you earn on CDs. You're paying
federal land state tax on the interest you pay, or
the tax on treasuries are only only federal taxes, no

(27:32):
state tax. And you're right. Long term historical average for
inflation is three percent a year. The target is two.
I keep asking why, why why you go back to
the seventies, pall, during the energy crisis era. You remember
waiting in line, you know, I remember I was a kid.
I just started driving in the in the mid seventies,

(27:57):
and I remember waiting in line for like an hour
to put two dollars of gas in the car. And
in hindsight, I chuckle about it because I didn't know
any better. And when you think of inflation, back then,
it was between six and twelve percent. The peak that
we've seen recently was four years ago June. We were

(28:18):
not of twenty twenty two nine point one percent. But
right now it's about three percent. And you know, when
folks inflation, think about it this way, I have three
percent inflation. Prices double every twenty four years on average.
That means that price of that that that loaf of
bread at a dollar twenty four years from now will

(28:41):
be two dollars. That's inflation. And what Paul is talking
about our Treasury inflation protected securities, basically tips, better known
as tips. They're an excellent investment. They're not for everyone.
It's an as Paul is pointing out there, it's it's
a great as an insurance vehicle against inflation, not so

(29:04):
much for the high returns. Ten year tips right now
is about two point one percent above inflation, and that's
the beauty of it. They it's like a moving target.
Wherever inflation is, you should be making a little bit
more So, if inflation averages three percent, your approximate total
return will be about five percent before taxes. They're you know,

(29:27):
the good news, Paul is as you know, Paul, but
I'm going to say this to the listeners. Tips are good.
Basically they're backed by the full faith and credit of
this great country of ours, the US government. No matter
how much we may complain about the taxes we're paying
in this government give us this country over any other

(29:49):
country in the world. So it's backed by the full
faith and credit of the US government. Your principle adjusts
upward with inflation, and that's what helps preserve that purchasing power,
as Paul is pointing out, and as I said, today's
real yields real means after inflation is about two percent

(30:09):
neil who should be buying them, Retirees that are worried
about inflation eroding their purchasing power, Investors who want to
have a more conservative portion of their portfolio, and people
who believe inflation may may remain above the Federal Reserve's
long term target and last but not least, but why

(30:32):
will they not be a good choice? If inflation remains
low for many years, they may not work out as good.
And if you're investing for long term growth, if you
can tolerate some stock market volatility, please have well diversified portfolio.
But don't feel bad about having tips and sounds like

(30:55):
I lost, Paul. Paul, great question, Thank you for tuning in.
Don't feel bad about having TI. It's in your portfolio.
It's a hedge. It's an insurance policy against inflation. And
as we sit here right now, the US ten year
treasury is paying about four point five three two percent.
That's pretty good, folks, That is pretty good. The two

(31:16):
year paying about four point one and for a six
month about three point eight percent. I love bonds at
this level. And those are all state tax free, folks,
So when you earn four point five percent, you're not
paying the state tax on it. That's why I like it.
And going back to our tips, you know, a good investment,

(31:41):
it all depends how.

Speaker 2 (31:42):
You look at it.

Speaker 1 (31:46):
But if you look at the I shares, the the
the I shares, there's an ATF believer or not. This
symbol is tip tip, but it's the I shares on ETF.
And if you look your average return over the last
fifteen years, two point four five percent year in, year

(32:11):
out over the last fifteen years two point four or
five percent, so it's a conservative investment. Compare that to
the S and P five hundred fourteen point twenty six percent.
Compare that to Nasdaq year in, year out, your average
return closer to twenty percent, and gold is less than

(32:32):
less than six percent year in, year out. And this
is why I like a diversified portfolio. Actually for me,
you hear me say it often. And clients get to
see my portfolio. Prospective clients get to see my portfolio.
My advisors pull up my portfolio. I want, I want.
I don't hide anything from my clients. I'm one hundred

(32:54):
percent invested in the stock market. Volatility does not scare me.
I understand that stocks go up, stocks go down, and
I would much prefer long term having stocks in my
portfolio than bonds. But that's just me. You know, I'm
still working, so I still get a paycheck, so I

(33:15):
don't really need the income off bonds, and I'm okay
with volatility over time. Volatility is a beautiful thing. When
there's blood in the street, that's when investors should be
looking for cash in a cookie jar and anywhere else
they can look. Because volatility is a beautiful thing. When
it comes to investing. You want to take advantage of volatility.

(33:36):
You don't listen when there's volatility. If you have a
conservative portfolio and you always want it to be more
growth oriented, and you see volatility, take some money out
of bonds, put money in stocks, that's the time you
do it. And when markets are making new all time
highs this week, we know we cave gave some bank.

(33:57):
You're to date. The S and P is a almost
eight percent with dividends closer to nine percent. Just a
week ago, I was sitting here with you, folks, it
was eleven percent year to date. We gave about two
point seven two point six percent back this week Nastac
year to date. Right now, the composite is just about

(34:19):
eleven percent QQQ and for our clients, qqqn up toiteen
percent year to date. Even with all the craziness, even
Friday with Nanstak losing four percent and this week with
Nastak losing this week almost four and a half percent,
year to date, QQQ is still up fifteen percent. What's

(34:41):
wrong with that? That's okay. So we have some volatility,
and investors shouldn't be afraid of volatility. But I thought
Paul's question about tips, I don't talk enough about tips.
Tips is a you know, good investment. If you want
to be conservative, if you want a hedge on where

(35:07):
inflation is going, you're going to get paid on average
about two percent above the inflation rate. That's your real
way to return. And Paul also mentioned the the I bonds.
The I bonds is really a nice way of buying it.
Just go to the US Treasury site. You can buy
I think up to ten thousand dollars a year of

(35:32):
I bonds state tax free, stay state tax free. So
there you go. That's that's that's that's how it is.
One eight hundred eighty two five five nine four nine.
Let me take a quick break fifteen seconds. Don't go anywhere, folks, Bello,
thanks folks. One eight hundred eight two five five nine

(35:52):
four nine. So you know Ed Wilhelm, my my portfolio analyst.
I say yesterday he's passed Level one of the CFA.
He just sat for Level two, one of the hardest
hardest certifications to get as being a CFA, a charter
financial analyst. But that is honest way he's really you know, God,

(36:15):
I'm so lucky to have him. Hired him right out
of Siana College, and he puts a lot of information
together for me and he's part of our investment team.
He and Paula La Pietra and Casey Bird, my colleague
who is in our Jupiter, Florida office. But ed put
together when do stocks peak for the year on average,

(36:40):
when do stocks peak? And this is data from nineteen
fifty all the way through twenty twenty five. Believe it
or not, in the month of June, stocks hardly ever peaked.
Actually they never peeked over that time. Now we know
that last week stocks hit an all time high. But

(37:02):
here we are into a new month, the month of June,
and going back to nineteen fifty, in the month of June,
stocks have never peaked, never peaked whatsoever. The one month
that stocks peaked the most is December, believe it or not,
so maybe we have to wait till December. We'll see

(37:24):
the second best month. Believe in an autist January when
stocks peak, and the third best month is November. Ed Wilhelm,
thank you for that information for letting me share that.
But Ed also put together some other information, and folks,
I am so listen. I clients engage our services mostly

(37:46):
to manage their wealth, and we do an amazing job
managing their wealth. We I can't begin to tell you
the job we do managing the wealth. Ound investment team.
We always learned from the past. We're always looking ahead
when it comes to investing our clients' money. And as

(38:06):
I say to our clients all the time, two things.
One are we meeting your expectations. It's real important that
my team and I meet your expectations. And two, we
will want to make as much money as we can
for you without taking any undue risk and finding the
most efficient way of investing. So we manage over one

(38:30):
point eight billion dollars on our way to two billion
to be like handlet might be or not to be,
and we're on our way to two billion dollars. And
for the most part, folks, we have three individual stocks
in those portfolios, Amazon, Ample, and Microsoft. I love all
three of them. Everything else is exchange traded funds. It's

(38:52):
a very efficient way of investing our client's money. And
that's what we want to do is find the most
efficient way in order to get good returns. And our
returns are stellar. You know these guys, like in November
they put in a new holding. Since November that holding
alone is up seventy two percent, and then in April

(39:15):
they put in another dram another holding up sixty two
percent since April. So since just since November, the moves
that we made, if I go back to October, we
sold one ETF to buy more into QQQ. That trade
alone almost three percent different. So by my investment committee

(39:41):
making that trade alone, that brought almost three percent more
return to our clients. And then in November they nailed this.
We hit three ETFs that we sold two completely out
of one week trend in order to buy three new holdings.
Since we did that, eleven almost twelve percent difference in returns.

(40:06):
So their foresight doing that has brought our clients twelve
percent more returns. And then, as I said, not the brag,
but let me brag the changes they made in April.
So we had three ETFs once again that we sold
out of completely or trimmed to buy two new investments

(40:28):
since April fourteenth. Since April fourteenth, so just what six
weeks ago that trade clients are up thirty almost thirty
nine percent difference to the good our clients are benefiting
because of that. So we are making good money for

(40:49):
our clients. You know, right now we are outperforming the
SMP our stockholdings. That's hard to do. And just when
I tell clients that we do a good job managing
the wealth, we do a good job managing the wealth. Now,
not all of our ideas work out, believe me, some

(41:12):
of our ideas don't work out. But for the most part,
most of our ideas are good. And that's why our
returns long term are pretty stellar. And it's you know,
I listen, thirty six years I've been helping clients thirty
six years and as I say to clients, especially new clients,

(41:33):
all the time, we don't take it lightly when you
put your full faith and trust in us, because we're
managing your portfolio with discretion. When we put our full
faith and trust in us, we are we are. You know,
we take that very seriously. And that's why I'm one
hundred percent of my money is man. It's just like

(41:56):
my clients. I wouldn't have it any other way. I
would not have it the other way. One eight hundred
eighty five five nine four nine. And for Carolina and Florida, Yes,
I did get some coffee and it made a nice
coffee here. One eight hundred eighty five five nine four nine.
I get a lot of people that text me when

(42:16):
I'm doing the radio. You know, technology, you have to
love it. What happened in the days of the flip homes.
And for those of you that remember the lamb lines,
does anybody have a landline anymore? You know? I don't
think so. I got it. I know I got rid
of mine, but a lot of people, you know, maybe

(42:39):
some people still have lamine. I'm sure. I'm sure there's
people out there listening to that that have land mine.
All right, So let's get back to it right now.
You know, should investors panic, no beautiful jobs report that
means that the economy is strong. Would you rather have?
I don't know. You want a weak economy with lower

(43:01):
rates or a booming economy with higher rates. Well, a
booming economy means everybody's doing well a week, or economy
means consumer sentiments down. And remember, as they said yesterday
and I say it often, consumers make up two thirds
of the economy, folks, two thirds of the economy. That's why,
that's why the consumer is so important. What goes on

(43:25):
and around the economy, it's all because of the consumer.
We need the consumer to feel real good about themselves.
We need the consumer to be spending money and feeling good.
So if we have a weak economy, if they're worried
about their job, if they don't have enough money to
put it, you know, fill up their car, or they're
they're they're cutting back on what they buy in the

(43:47):
grocery stores because the price of groceries are up. That's
all inflation. I think a booming economy with higher interest
rates is better and investors should not panic. They should
never panic. They should listen corrections are normal long term investors.
I say it all the time, expect volatility. History shows

(44:09):
some of the biggest up days occur right after some
of the biggest down days. So if you have a
down day and you sell out, more than likely you
will lose out because right after, right after you have
a bad, bad, bad time in the market, all of

(44:29):
a sudden, when that market rebounds, it rebounds pretty good.
So some of your biggest up days occur right after
some of the biggest down days. And you can never
time the market. Folks, there's not a market timer I
know of. That's on the Forbes Richest People list. Investing
is emotional, I say it often. We get paid to

(44:53):
take the emotion out of the decision making process. That's
what we get paid the most to do. Because investors,
of course think with their heart, they think with their
emotions when they see a paper loss. Why do I
say paper loss, Because when the market goes down and
you get your statement or you go online and look

(45:13):
at your account and it's down in value, that's what
we call a paper loss. Forget about it. That's going
to come with investing, and it's going to come over
and over and over again. So when that happens, do
not sell, do not panic. Of course, investing is emotional.

(45:33):
We get paid to take that emotion out of the
decision making process. We think logically. With information, we make
rational decisions. Folks, you are listening to Let's Talk Money,
brought to you by Blue Shape and Answer Group, where
we help our clients prioritize their health while we manage
their wealth for life. Thank you for tuning in. I
can't thank you enough every week. You have made this

(45:56):
show one of the premiere talk shows in the country
revolving around money, and that's why we call it Let's
Talk Money. Go to our website Boo Shay dot com.
That's bus and boy O U C H E y
dot com Boo shay dot com. There's a lot of
good information there. In the meantime, enjoy your Sunday fun day,

(46:17):
be well, stay healthy. Come back next week. Thanks for
tuning in, folks. Bye bye.