Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Yeah, that kind of feels like walls ree right now.
Six twenty three start times, we had KTRH moneyman Pat
Shin on the line. I'm just curious, sir, how's the
last forty eight hours been for you and your world? Good?
You know? Good?
Speaker 2 (00:12):
So I've done this for over thirty years, Jimmy, We've
certainly seen lots of ups and downs. But you know,
certainly over the weekend I did a lot of work,
just kind of studying, and you know, what should we
talk about? Do we want to talk about how we
got here? We want to talk a little bit about
what happened.
Speaker 1 (00:27):
I think we want to talk about where we're going.
We know how we got here with the whole tearff
thing and how you know, there's a bit of a
mini panic going on. And then yesterday we knew that
he basically pros to tarffs and everybody but China for
ninety days and the stock market had its biggest day
in history.
Speaker 2 (00:43):
So where are we going after all that? Okay, so
great question. So regular listeners on k t H they
know I've done this for a very long time. I
do five updates during the day, Jimmy, I'm on at ten, eleven, three,
four and five, and normally what I'll do, And of
course I know I follow the markets all day every day,
(01:07):
but I figure out what I'm going to say before
I come on, maybe five or ten minutes before. I'll
think in my head what I'm going to say, And
you would not believe over the last week how what
I think I'm going to say and what I end
up saying are not the same. Things can change Jimmy
(01:27):
in even ten minutes. So the first thing to talk
about is volatility. So back when I did my Saturday
night radio show, I used to use the analogy if
you're flying on an airplane and you're going over the ocean,
and you're at thirty thousand feet and you look down
that ocean is smooth as glass, but yet you see
(01:50):
a little speck down there, and that's a ship. And
if you're on that ship, you're getting bounced around, And
that's the stock market on a daily basis, Whereas if
you're up in the plane and you're watching that ocean
from thirty thousand feet, that's the stock market on a
longer term basis. So, first off, for people that sit
(02:11):
and watch the stock channel all day and just in
their minds say oh my gosh, I just lost this amount.
They haven't sold anything. I haven't lost this, or I've
made this. You're going to drive yourself absolutely crazy because
I can't even figure out what the market sometimes is
going to do in the next five or ten minutes.
(02:32):
So first off, it's okay to look, if you want
to go online, look at your stuff, look at the value.
As we've always said on here, it's okay to look,
don't stare. And then the thing is, have a little
bit longer time horizon than just what happens between now
and the closing bell. There's a lot of uncertainty. I've
(02:54):
spent hours studying this. The main thing, Jimmy that became
a parent over the weekend is that Congress is going
to need some tariff money to offset the tax cuts.
The tax cuts, the twenty seventeen cuts. We all know
they expire at the end of this year. President Trump
wants also to do no tax on tips, no tax
(03:15):
on Social Security. I think no tax on overtime is
a stretch, but there's a lot of things that he
wants to do and he needs an offset. And so
it became clear over the weekend for the very first time.
Now there's been hints of this, but the White House
has come out and said that's where this offset is
going to come from. So we're going to get tariffs.
(03:38):
This idea that floated last Friday when the head of
Vietnam said, hey, we won't tear if you if you
don't teariff us and Mike Lee, Senator Mike Lee tweeted, oh,
great deal, we need to take that. That is not
going to happen. We need the income from tariffs to offsets.
So there's going to be some.
Speaker 1 (03:58):
Tariffs, and fore we're running out of time. Pat I
hate to cotch t off. But the other thing, and
I think the key word that you said is volatility.
We need to be prepared for volatility for fairly long
period of time. Don't you think absolutely this.
Speaker 2 (04:11):
Is going to continue. This is not a v this
is not a we bounce back this week and you're
back to where you were. One thing, Warren Buffett, markets
hate uncertainty, and yet uncertainty is a long term investor's
best friend. It's okay to look don't stare, got it,
(04:31):
thank you, sir. That is KTRH money Man patchin at
six twenty eight times, to have some more
Yeah, that kind of feels like walls ree right now.
Six twenty three start times, we had KTRH moneyman Pat
Shin on the line. I'm just curious, sir, how's the
last forty eight hours been for you and your world? Good?
You know? Good?
Speaker 2 (00:12):
So I've done this for over thirty years, Jimmy, We've
certainly seen lots of ups and downs. But you know,
certainly over the weekend I did a lot of work,
just kind of studying, and you know, what should we
talk about? Do we want to talk about how we
got here? We want to talk a little bit about
what happened.
Speaker 1 (00:27):
I think we want to talk about where we're going.
We know how we got here with the whole tearff
thing and how you know, there's a bit of a
mini panic going on. And then yesterday we knew that
he basically pros to tarffs and everybody but China for
ninety days and the stock market had its biggest day
in history.
Speaker 2 (00:43):
So where are we going after all that? Okay, so
great question. So regular listeners on k t H they
know I've done this for a very long time. I
do five updates during the day, Jimmy, I'm on at ten, eleven, three,
four and five, and normally what I'll do, And of
course I know I follow the markets all day every day,
(01:07):
but I figure out what I'm going to say before
I come on, maybe five or ten minutes before. I'll
think in my head what I'm going to say, And
you would not believe over the last week how what
I think I'm going to say and what I end
up saying are not the same. Things can change Jimmy
(01:27):
in even ten minutes. So the first thing to talk
about is volatility. So back when I did my Saturday
night radio show, I used to use the analogy if
you're flying on an airplane and you're going over the ocean,
and you're at thirty thousand feet and you look down
that ocean is smooth as glass, but yet you see
(01:50):
a little speck down there, and that's a ship. And
if you're on that ship, you're getting bounced around, And
that's the stock market on a daily basis, Whereas if
you're up in the plane and you're watching that ocean
from thirty thousand feet, that's the stock market on a
longer term basis. So, first off, for people that sit
(02:11):
and watch the stock channel all day and just in
their minds say oh my gosh, I just lost this amount.
They haven't sold anything. I haven't lost this, or I've
made this. You're going to drive yourself absolutely crazy because
I can't even figure out what the market sometimes is
going to do in the next five or ten minutes.
(02:32):
So first off, it's okay to look, if you want
to go online, look at your stuff, look at the value.
As we've always said on here, it's okay to look,
don't stare. And then the thing is, have a little
bit longer time horizon than just what happens between now
and the closing bell. There's a lot of uncertainty. I've
(02:54):
spent hours studying this. The main thing, Jimmy that became
a parent over the weekend is that Congress is going
to need some tariff money to offset the tax cuts.
The tax cuts, the twenty seventeen cuts. We all know
they expire at the end of this year. President Trump
wants also to do no tax on tips, no tax
(03:15):
on Social Security. I think no tax on overtime is
a stretch, but there's a lot of things that he
wants to do and he needs an offset. And so
it became clear over the weekend for the very first time.
Now there's been hints of this, but the White House
has come out and said that's where this offset is
going to come from. So we're going to get tariffs.
(03:38):
This idea that floated last Friday when the head of
Vietnam said, hey, we won't tear if you if you
don't teariff us and Mike Lee, Senator Mike Lee tweeted, oh,
great deal, we need to take that. That is not
going to happen. We need the income from tariffs to offsets.
So there's going to be some.
Speaker 1 (03:58):
Tariffs, and fore we're running out of time. Pat I
hate to cotch t off. But the other thing, and
I think the key word that you said is volatility.
We need to be prepared for volatility for fairly long
period of time. Don't you think absolutely this.
Speaker 2 (04:11):
Is going to continue. This is not a v this
is not a we bounce back this week and you're
back to where you were. One thing, Warren Buffett, markets
hate uncertainty, and yet uncertainty is a long term investor's
best friend. It's okay to look don't stare, got it,
(04:31):
thank you, sir. That is KTRH money Man patchin at
six twenty eight times, to have some more
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