Richard Rosso - Certified Financial Planner Joins Houston's Morning News

Episode Transcript

Speaker 1 (00:00):
This question.

Speaker 2 (00:02):
Six twenty two is our time here in Houston's morning News.
All right, all right, relaxed Panicans. Help is on the way.
Richard Rosso, certified financial planner, joins us to talk about
what the market's been doing here for the last day
or two. So, how many panic phone calls did you
get yesterday?

Speaker 1 (00:18):
I got none? Great, I got none.

Speaker 2 (00:21):
You must train your people.

Speaker 1 (00:22):
Well, well, here's the thing, Jimmy, and I mentioned this
on your show before. If you have a diversified portfolio
and you're not all mired in tech stocks, your portfolio
is down anywhere from four to seven percent, depending upon
how the bonds look in your portfolio, five to ten percent.
Pullbacks should is a normal process in markets. So are

(00:44):
people happy about it? No? Are they surviving it? Absolutely.
What I've noticed is people who are panicking are one
they are very politically driven, which means that the whole
world's coming to an end. And I talked to you
before about all the bombastic headlines out there that make
this sound like the end of the world. The other

(01:06):
part of the people that decided that their trend followers
and they got invested at tech stocks when everybody else
was chasing them last quarter, we were selling them down,
we were rebalancing. You sell high, you buy low. That's
how it's supposed to work. So if you are finding
today now again based on our indicators we have a

(01:28):
technical composite, you should absolutely be seeing an oversold bounce
here in markets. Well. In other words, you should start
to see recovery. Futures down. Futures are up eight hundred
points today, So all futures are up. You are well
to have a chance where maybe you get a replacement
of at least fifty percent of this loss. That's your
opportunity as an investor. If you go listen. I can't

(01:50):
handle this, man, I'm I can't sleep a night. You
don't have to get out of the market completely. You
just have to rebalance the portfolio. You possibly are taking
on too much risk. This is a time. How many
stories have you read? God tell you you should not
look at your statements. You should put your head in
the sand. I don't think that's good advice. I think

(02:11):
you should look and then give yourself a gut check.
If you're comfortable with it, and you can rationalize that
the money's not for a decade or so or five
years from now. That's fine. If it's making you nervous,
you will have an opportunity to sell. So you're you're
probably going into that period. I don't have a crystal ball,
but you're probably going into that period where, based on
our sentiment indicators and techno indicators, that you're going to

(02:32):
get a balance. That doesn't mean that the selling is done.
It means you're going to get an oversoul bounce. People
will have a chance to restructure their portfolios, put less inequities,
more in bonds, and they should be able to weather this.
Have just fine.

Speaker 2 (02:46):
There there are times we'll go through this all the time,
but there are times of volatility, and there's times when
things are just kind of quiet and peaceful, and it
would appear we're going to go into a little bit
more volatile time. That's also normal, right.

Speaker 1 (02:57):
It is you should get five to ten percent pullbacks
at least three times a year. Last year, see when
the water is clear and the sun is out and
it looks like glass on that water. That's when I
actually get worried. When things are too complacent, that's when
I worry. And last year we were telling people and
telling clients, listen, this year is going to be different.

(03:20):
We are stimulus is gone, consumers are tapped out. Regardless
of who is president, we are going to see a slowdown.
And this is exactly what's happening. The tariff news doesn't
make it better. What I'm saying is this was a
trend that was already in play. What the markets needed
was a reason, and they got.

Speaker 2 (03:37):
It all right. So when the sun is out, the
water's calm, and the breeze is light and nice and mild,
that's when the theme music from Jaws comes into your head, right.

Speaker 1 (03:49):
That.

Speaker 3 (03:50):
But that's how you should be thinking as a stopped investor.
I agree last year was extraordinary because we have so
much fiscal stimulus in the market, so much cash out
in the system. Markets are not red or blue, they're green.
All that cash was coming to an end.

Speaker 1 (04:09):
Therefore, whoever was going to be president this year was
going to face a challenge in the economy itself. So again,
like I said, terris were the catalyst. But if you
look at your time frame, look at your allocation, you're
going to have a few days again. Down features are
up eight hundred and five. Right, we'll probably see a rebound.
We'll see how market closes but you're probably going to

(04:31):
have a chance to restructure your portfolio. You know. For
some people, they're going to go, you know what, I
didn't sign up for this. I'm getting out of stocks.
That's fine, they're a fixed income. There are a lot
of other choices. Know yourself as an investor, and these
are the times where you look yourself in the mirror
and decide what kind of investor.

Speaker 2 (04:51):
Yep, you really are? Your risk verse do something different.
Richard Rosso, thank you very much. Appreciate it as always
surtify financial Planner, Richard Rosso, six twenty seven, as we
can continue to look