Timing the Market with Jill on Money

CBS News Business Analyst and host of Jill on Money Jill Schlesinger joins us to discuss timing the market, and why generally that is a bad strategy. 

Episode Transcript

Speaker 1 (00:00):
This is West Michigan's Morning News, Steve Kelly and Brett
Keita speaking of the President and tariff's a little something
on Wall Street. But before that, holy smokes, what a
few weeks. This is just Lessener's CBS News Business analyst
hosted Jill on Money. Good day to you, Good day.

Speaker 2 (00:19):
Yeah, I mean I wrote my blog post. I was like, oh,
this is such a great post. Wednesday Thursday and stock
markets reaching all new highs, people reaching out to me,
they want to talk about gold, all new highs, cryptos up,
and then everything fell apart on Friday. So I was like,
I'm still going to talk about it. Not everything, but
we had a little sell off on Friday, as you said,
tariff related, remember tariffs, And it really came about because

(00:43):
the Chinese basically said, hey, we're limiting the export of
rare Earth's rare earth are these seventeen minerals that are
used in a lot of technology products and air defense
systems and electric vehicles. And then Trump, the President Trump,
on Friday's like, well, I'll slap one hundred percent tariff

(01:04):
on Chinese imports starting on November first, and then the
market fell apart.

Speaker 1 (01:08):
What the heck?

Speaker 2 (01:08):
I mean, come on, but the reality is today the
President's like, Eh, don't worry, we'll take care of that.
He basically literally said that, like, uh, it's going to
be fine, and so I think there probably will be.
It probably will be fine. But be to put it
in sort of the most important part of like what
does this mean to you? I think it's important for

(01:30):
people to say, don't get so caught up when things
are going way up or way down, and that you know,
I don't know when the market's going to move higher lower,
and nobody does. So anyone who tells you they do,
they don't, because timing the market doesn't work. And the
reality is that many people who say they know what's
going to happen next, they're just trying to sell you something.

(01:51):
So stick to your game plan of your you know,
whatever amount of money you have in stocks versus bonds,
versus cash, maybe you have a little commodities, that's fine,
but don't mess around based on what other people are
saying when you get in and out.

Speaker 1 (02:04):
Yeah that's the thing though, that's so hard when you're
on a run, right. I think the same can be
said if you're playing cards with your family, you got
to know eventually the margin calls, But how do you
temper any sort of knee jerk reaction. I mean the
same can be said for betting your own team on

(02:24):
the Final four?

Speaker 2 (02:25):
Right, yeah, I mean listen, I think that what needs
to happen when these kinds of highs come about is
that you sort of say, I understand that I feel
this way. I feel this way, however, doesn't mean enough
to do anything with those feelings. Right, That's the most
important thing. So even if you feel like you want
to get in and buy more or get out and

(02:47):
oh wait a minute, remember Jill said market timing doesn't work.
Time in the market works. Just stick to my game plan.
Or if you really want to have fun, take a
little tiny bit of your retirement. Maybe you've got an
IRA somewhere, use that to mess around. But whatever is
in that little fun money account, make sure it's what

(03:08):
you can afford to lose, and you're not gonna lose
sleep over it. That's what I think is important.

Speaker 1 (03:12):
CBS News Business analyst, host of Jill on Money, Thank
you thanks

Speaker 2 (03:17):
For having me.