September 20, 2025 • 39 mins
Chris Markowski, the Watchdog on Wall Street, discusses the realities of the financial world, focusing on the Federal Reserve's consistent miscalculations, the importance of understanding economic terrain, and the dangers of passive investing. He emphasizes the need for ethical practices in finance and the significance of compounding in wealth accumulation. Markowski also critiques the pitfalls of annuities and the concentration of power in the market, advocating for a more informed and ethical approach to investing.
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Episode Transcript
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Speaker 1 (00:07):
Well, no one authored investment banker, consumer advocate, handlyst trader
Chris Markowski is.
Speaker 2 (00:14):
The watchdog Wall Street.
Speaker 1 (00:16):
Do you want to answer exposing the lies and myths
that the big brokerage firms, the mainstream press, and the
government are pushing to keep Americans away from financial freedom.
Speaker 3 (00:28):
You can't handled the true.
Speaker 1 (00:29):
Proof bringing America the truth about what really happens in
the financial world. Ladies and gentlemen, We're not here to
indulge in fantasy, but in political and economic reality. This
is the watchdog on Wall Streets.
Speaker 3 (00:45):
All right, welcome everybody on the only the Watchdog on
Wall Street Show.
Speaker 2 (00:53):
And uh, I'm.
Speaker 3 (00:54):
Going to give away some secrets today, some of the
secret sauce from Markowski Investment ut. First, I want to
I want to touch on touch on the Fed. Did
everybody Did everybody wake up on Thursday morning and say
I feel so much better because the Federal Reserved lowered
rates by a quarter of basis point yay. Uh. I
(01:21):
had this conversation again. You got your five hundred some
odd economists that work at the FED.
Speaker 2 (01:30):
It's amazing to me. And then then they laud these folks.
Speaker 3 (01:33):
Alan green Span, Ben Burn, Nanke Jane nick Ellen, all
of them out there. Oh yeah, they're rock stars. Members
of the Fed. Gotta get confirmed, gotta get confirmed by
the gum. I gotta be in a sit on a
Federal Reserve board. Five hundred of them, not all need
to be confirmed. Why are they wrong all the time?
(01:54):
They mean, you think about that? How can you possibly
be wrong all the time?
Speaker 2 (02:02):
Now by.
Speaker 3 (02:05):
Narrative based narrative based measures, how we look at people
in the world. These economists are supposedly much much smarter
than me. Oh yeah, they got more degrees than I
have most and went to Ivy League schools. How is
it that over the past thirty years, we've called we've
(02:27):
called inflation properly, we've called employment numbers properly. Yet they
perpetually get it wrong every single time. I jumping up
and down, and you know, oh, inflation is transitory, No
it's not. Oh yeah, inflation is benign. No, it's not
(02:49):
no inflation to speak of. Yeah, right, Sure. They rely
on these numbers that come from surveys, these government numbers,
and they have their algorithms. And again, I don't know
why they need four to five hundred of them. You
let me know if you actually wanted to make the
FED to Reserve more effective. They want if they really
(03:12):
wanted to be actually good at their job, you know
what they need to do.
Speaker 2 (03:18):
They need to give them backpacks.
Speaker 3 (03:20):
I'm serious. They need to give every member of the FED.
Send all of these economists out with backpacks and just
put them on a road hitchhike across America. They can
play that song by Simon and Garfunkel America.
Speaker 2 (03:35):
They can just go. They gotta go to all corners
of this country. Actually go out in the real world.
Speaker 3 (03:41):
Leave their fancy pants buildings in major cities, get out
and actually talk to human beings, talk to people. You
want the secret sauce. One of the secrets secret sauce.
Part of the secret sauce at Markowski Investment is we
(04:03):
understand the reality. And I've talked about this a lot,
the reality of the terrain. We don't buy into any
bull excrement narratives that are out there.
Speaker 2 (04:19):
Our firm. We're blessed.
Speaker 3 (04:21):
This doesn't make the Okay, how do you ours outperform
everybody else out there?
Speaker 2 (04:25):
Simple? Okay.
Speaker 3 (04:27):
We've got clients from all walks of life, from every
corner of this country. I learn from them, I know
better what's going on in this country than anybody.
Speaker 2 (04:41):
In Washington, d d C.
Speaker 3 (04:43):
Does most certainly anybody at the Federal Reserve period the end.
Do you think do you think they pick up the
phone and talk to a doctor's office and Albuquerque or
a you know, somebody owns a nail salon and boise.
Speaker 2 (05:02):
Wherever it may be. You see, we do that.
Speaker 3 (05:08):
We've got clients all every corner of this country, from
all walks of life.
Speaker 2 (05:16):
And this gives us an advantage too. This is why
we're better.
Speaker 3 (05:19):
We don't just deal with the uber wealthy class. We
deal with everybody. We deal with the young people that
are getting started. We deal with the people that are
in the accumulation stages. We've got small business owners helping
them out all over the country. And yeah, we got
people that are retired and super wealthy, got them all.
(05:40):
And we could take all of that information in and
give a damn good assessment of what's actually going on
on the ground, understanding the reality of the terrain. I
want to share with everybody something here today. I did
(06:00):
a podcast on it this past week as well.
Speaker 2 (06:04):
A gentleman that.
Speaker 3 (06:06):
One of the in my opinion, easily one of the
smartest guys in the world in my opinion, and when
I'm asked, when young people ask me certain books that
they need to read, especially, it doesn't make any difference
whether you're going into finance or whether you're going into
small business. I always tell them go on Amazon and
buy the book series.
Speaker 2 (06:26):
It's called The Inserto.
Speaker 3 (06:29):
It's written by Nassa Nicholas Talop and it's a series
of his writings and books. The guy is a risk
management expert. He's one that understands the reality of the terrain.
He's a historian, he's a philosopher. His stuff is fantastic
(06:49):
and I got a hold of because I wasn't able
to go to the Ron Paul Institute meeting this past
year and Professor Talib Firs Tallib was speaking at this
and I got hold of everything and the points that
he made and the title of his title of speech
(07:14):
is the world in which we live now.
Speaker 2 (07:19):
This is our reality.
Speaker 3 (07:23):
This is what this is part of our secret sauce
at Markowski Investments. This is what guides our decisions when
it comes to managing portfolios, not bs, not algorithms.
Speaker 2 (07:39):
Reality.
Speaker 3 (07:41):
Where are we at right now? As far as modern
society is concerned. A lot of talk out there, a
lot of talk out there, And these are some of
the things that I actually worry about, and I lament
about concentration. Concentration which is a distinctive feature of the
(08:01):
modern world, a winner take all type of a situation.
Talum describes it. Imagine an island with many species but
a high density per square meter. Compare that to a continent.
We're opening up space leads to fewer species per meter
because some will eventually dominate. This is cultural and economic
(08:25):
life today. I notice it in things like music, where
it's so hard to find again, I'm a big music fan,
so hard to find new good bands simply because guess what,
the way the system works, they just keep promoting the
same old stuff again and again and again. Same thing
holds true with books and authors. Now, this concentration, it's
(08:49):
a market mechanism. It's not inherently bad. The problem arises
in one of the things that we're dealing with right
now is unfortunately things get.
Speaker 2 (09:01):
Sticky at the top.
Speaker 3 (09:04):
Again, you want to go back to the nineteen nineties,
think about all of the innovation that took place at
that point in time. You know, the kids that the
kids that Standford all of a sudden working on a project.
Speaker 2 (09:15):
In their dorm.
Speaker 3 (09:16):
Boop, here we go, we got Google and he went
from college dorm to Google.
Speaker 2 (09:23):
Didn't take that long.
Speaker 3 (09:24):
And during that period of time, we watched companies go
by the wayside. Remember the search engines from back then
out of Vista or you take a look even in
the case of retail, all of the real pets, dot
com CD now all of this stuff that disappeared.
Speaker 2 (09:44):
However, what's happened? What's happened?
Speaker 3 (09:47):
And this is something that that bothers me a great
deal is the fact that we have entrenched powers. Certain
companies dominate their their dominat is entrenched because again they
work hanned in hand with the government. This is one
of the things that I can't stand. Doesn't make any
difference if the Republican president or Democratic president. The whole
(10:10):
public private partnership crap, which leads to what stupid regulations,
regulatory capture. This is one of the lies that you're told, oh,
I got to regulate this and regulate that. You know
who benefits from all sorts of regulations are the people
at the top that can actually afford to pay for
(10:31):
the regulations. We've compared it to basically building a moat
around their business.
Speaker 2 (10:38):
You can't get in wealth twenty percent.
Speaker 3 (10:46):
This is interesting, twenty percent of billionaire families in the
United States remain billionaire families after twenty years. Europe it's
the reverse. However, in the United States it's starting to
get stickier. I often talk about Joseph Schumpeter. Who's Joseph
(11:07):
Schumpeter again, economist, creative destruction capitalism. Capitalism works not just
by allowing upward mobility. Fuck, guess what, Like Gordon Gecko said,
you either do it right or you get eliminated. You
accelerate the downward equivalent. And again another point that he
(11:34):
made in his speech again how people the dynamics and
misunderstanding of history. And he talks about how again he's
a historian, but he's a statistician as well, and how
he views history differently.
Speaker 2 (11:54):
It's a dynamic process.
Speaker 3 (11:56):
It's not a textbook definition, a static textbook definition.
Speaker 2 (12:02):
Things can change.
Speaker 3 (12:03):
Again, this is where I talk about all the time,
the reality of the terrain.
Speaker 2 (12:10):
Again, you see, people, it happens all the time. I
make fun of it.
Speaker 3 (12:13):
The well, you know, take a look at the evaluation
of the market and hasn't been this valued at this.
Speaker 2 (12:18):
Point in time.
Speaker 3 (12:20):
Okay, yes, by definition, you're right. But however, there's less
than half as many companies trading public today as there
was back in the nineteen nineties. And you take a
look at the differences between the United States and Europe
at that point time. There's so many different things that
are involved that Again, most people at the big brokerage firms,
(12:45):
they don't look at they don't understand. That's most certainly
a problem. Again, this puts us at an advantage because
we get it, we understand it.
Speaker 2 (13:01):
Projections fail. Projections fail.
Speaker 3 (13:06):
Says this specifically, because all the fools out there, all
the fools at the ocal local investment firms and Wall Street,
rely on primitive analysis of the past. They ignore second
order effects. It's important to look at those things.
Speaker 2 (13:27):
Again.
Speaker 3 (13:28):
I talk about the reality of the train. I use
this line something I learned from an Navy seal a
long long time ago. You go to war, You're going
into battle. You got your plan all in place, you
got your map. However, you hit the ground. You get
there and guess what the map's wrong. The positions are different.
Speaker 2 (13:50):
What do you.
Speaker 3 (13:50):
Do do you stick with your plan or you adapt
to the reality of the terrain.
Speaker 2 (14:00):
Take quick break right here.
Speaker 3 (14:01):
Got a lot more on this, Yeah, yeah, I'm giving
us some secret sauce away today Markowski Investment secret sauce.
But again, I want to remind everybody again we're different.
And I'll get into this a little bit later on
the program as well. I think I might have heard
this earlier. We help everyone out. Get to our website.
We act as your family's CFO.
Speaker 2 (14:22):
That's what we do, soup to nuts everything.
Speaker 3 (14:25):
We're here to help you and guess what, you don't
need ten million dollars to work with the Markowski family
Watchdog on Wallstreet dot com. Sign up for our personal
CFO program, Watchdog on Wallstreet dot com, or give us
a call eight hundred four seven one fifty.
Speaker 2 (14:41):
Nine eighty four.
Speaker 1 (14:58):
The only man who is taking on the Wall Street establishment.
Your listening to the Watchdog and Wall Street with Chris Markowski.
Speaker 3 (15:09):
I want to deal uh one more one more point
from talib actually makes seven points. I go over the
mall and our podcasts, and again I highly recommend everybody
signing up.
Speaker 2 (15:21):
For our podcast.
Speaker 3 (15:22):
I do several every single day, covering a myriad of
different topics, societal, money, you name it, we're covering it
on the podcast. Podcast continues to growth, available on every platform.
We can also get to our website as well at
Watchdog on Wallstreet dot com and sign up and get
it there. I want to touch on one more point,
(15:45):
and this involves economic saturation. Again, this is important as well.
And again you get a lot of companies out there
that point out the type of growth that they see.
But again you've got to understand the reality of growth,
the reality of growth, and this is important to understand
(16:08):
in his book. In this book Anti Fragile, which I
cite often here on the program, it talks about the
s curve in biology and economics, growth grows in a
convex way.
Speaker 2 (16:25):
It slows as it saturates.
Speaker 3 (16:28):
Now continue, you might continue to have growth, but it
remains sub logarithmic. And he gets a great example of this.
Once you have a two car garage, do you really
need a five car garage? Now yes, some, but most don't.
(16:50):
The incentive diminishes. And again this is where they talk
about growth in China. Again, you take a look and
this is one of the things where Muscus talking about
growing the population and the importance of that. Take a
look at growth in China, the type of growth that
they have. Why most people there still don't have a car.
Speaker 2 (17:12):
Well, we here in the United States and also in.
Speaker 3 (17:16):
Europe a lot of people have a car. And again
you're gonna have to replace cars, but you're not gonna
have that crazy type of growth. And certain things that
you know, the government will point to as far as
expenditures are concerned that they say is going to enhance growth.
Nonsensical things like bike paths another garbage doesn't do that.
(17:42):
The problem that we have, and this is something that
I touch upon all the time, is that these you know,
whether it be the EU the United States, we are
saturated economies and we have a lot of debt. So
when you see people saying.
Speaker 2 (18:00):
We're gonna grow our way out of this debt, really
we're not. That's just not the case. Doesn't work that way.
Speaker 3 (18:10):
But anyway, anyway, again, I did a very lengthy podcast
on this, and again these are things we want to
look into the mind of the Markowski brothers and how
we go about doing business and what makes it successful. Again,
we don't how shall I put it bs ourselves, We
(18:31):
don't and again we've been there, We've done that. I
know how the larger firms operate. I understand the herd
mentality and people that are younger out there back in
the day. And I would give credit to CNBC back
in the day. This is going back.
Speaker 2 (18:46):
Early nineteen nineties, oh, mid nineteen nineties. Excuse me.
Speaker 3 (18:50):
They used to make fun of the stock analysts on CNBC.
They used to show this video of penguins jumping off
and like an iceberg into the water.
Speaker 2 (19:01):
Because once one analyst said.
Speaker 3 (19:03):
Oh, put a bye on this, they all did it.
It's amazing to me how every single one has got
the same opinion that's out there.
Speaker 2 (19:12):
I'm always scratching my head.
Speaker 3 (19:14):
Why it's safe. It's safe, just like the way that
they manage your money. Well, we got to put it
into this Mantey Carlo simulation that they've given us, and
you gotta have a sixty forty portfolio and basically they're
told how to sell it, and you buy it and
you get sub standard returns. I mean, honestly, is there
(19:38):
really much of a difference between Burger King and McDonald's. Again,
I get you know, some people will you know I'm
talking about the Burgers. I mean, honestly, is there really
that much of a difference over their crappy burgers? If
that's what you want. As far as your money being managed, finally,
work with Merrill Lynch, work with Wells far Go, work
(20:00):
with those guys.
Speaker 2 (20:01):
Okay, get substandard returns.
Speaker 3 (20:05):
And the funny thing is you're paying more for fast
food financial planning. It's garbage anyway, Gotta take a break.
Speaker 2 (20:18):
Don't go anywhere.
Speaker 3 (20:19):
If you do, though, get to our website, Watchdog on
Wallstreet dot com. Watchdog on wallstreet dot com, our site,
our personal CFO program, open to everyone, Watchdog on wallstreet
dot com, or give us a call eight hundred four
seven one eighty four.
Speaker 1 (20:39):
You're listening to the Watchdog on Wall Street. You should
(21:01):
believe in math, not magic. You're listening to the Watchdog
on Wall Street with Chris Markowski.
Speaker 2 (21:12):
Quarter back. Welcome back, everybody.
Speaker 3 (21:16):
All right, I'm gonna share with you just some basic
facts reality and this is this is just simple.
Speaker 2 (21:27):
Passive investing. We don't we're not passive investors. We're not.
Speaker 3 (21:33):
But so I'm gonna share with you. I'm gonna share
with you some numbers just from the S and P
five hundred. We're gonna go back ten years. You put
ten thousand dollars to work in an S and P
five hundred fund ten years ago, two thousand, two thousand
(21:54):
and fifteen. That ten thousand dollars is worth thirty nine
thousand today. Twenty years ago, it's worth one hundred and
seven thousand dollars. Again, this is not adding to it.
Thirty years ago, it's worth two hundred and ninety six
thousand dollars. Forty years ago, ten thousand dollars. Not doing
(22:18):
a damn thing. You don't do it. Damn you don't
add to it. It's worth one point one million dollars.
Fifty years ago, it's worth almost four million dollars.
Speaker 2 (22:33):
The power of compounding. Rule one, Rule.
Speaker 3 (22:38):
One, rule number one, Markowski Investments.
Speaker 2 (22:42):
Compounding is the royal road to riches.
Speaker 3 (22:46):
Now again, I can definitely improve upon this without a
doubt if you're doing things the right way. But let's
just put this aside for a second. I'm really angry.
Various different programs on the radio, various different places around
(23:10):
the country where you have I'm sorry, insurance salespeople, insurance
salespeople scaring scaring people. Ah, your money's safe ups and
downs of the stock.
Speaker 2 (23:24):
You're gonna avoid all that. Yeahta make sure your money
is safe? Money missing new? What is this new? What
is that? You are getting screwed? You are a sorry, Okay,
I'm gonna say you're a fool now. You were duped.
Speaker 3 (23:39):
Okay, you got duped by a really slick salesperson who
told you to stick all of your money into these
god forsaken insurance products. These guys are not even investment
of ey, They're not rasis third with the sec.
Speaker 2 (23:59):
Have you ever when one of these guys and.
Speaker 3 (24:01):
They got these programs out there, why don't you ask
them the type of commission that they are gonna get paid?
Speaker 2 (24:10):
And they don't will dance around that.
Speaker 3 (24:12):
They'll talk about all the bonuses that you're gonna get
if you put money in right away, you are getting
a sub standard return. Oh, your money is safe safe
money investing. You know it's safe too. Whyn't just stick
your money in a what was it?
Speaker 2 (24:27):
What?
Speaker 3 (24:27):
Remember those old cans that our grandparents used to use?
There the tobacco can. Stick your money in a tobacco
can and bury it in the backyard.
Speaker 2 (24:34):
An money is safe back there? What are you doing
what are you doing.
Speaker 3 (24:43):
You're not seeing any level of return that is going
to keep up keep up with inflation. Your money is
not safe. You are losing money again. You take a
look at the value of money, you go back thirty years,
(25:05):
You've lost fifty four percent. I see the level of
returns that these annuities are paying.
Speaker 2 (25:12):
Their joke.
Speaker 1 (25:16):
Again.
Speaker 3 (25:17):
There's only so much we can do at Markowski Investments
because the majority, the overwhelming majority of people that contact
us due to frustration, because of fraud they thought or
stuff that they wish they hadn't done deals with damn
insurance and annuity products period the end.
Speaker 2 (25:42):
Go back and read my stuff.
Speaker 3 (25:46):
I've got my columns archived up on our website. I've
been writing for well thirty years. The horror stories. Again,
they don't go away, Okay, and age they again a
lot of these insurances that they don't even know. That's
all they are. They're not financial advisors. They have not
(26:09):
rec contracted. They passed the damn insurance exam, which you
could do in about a week, and they're out there
to sell these product I'll advise products. Please people, uh,
you know, don't don't get fooled into these things.
Speaker 2 (26:28):
And lock up your assets.
Speaker 3 (26:30):
You can't get a hold of them to get a
bloody sub standard return.
Speaker 2 (26:36):
It makes no sense. Now.
Speaker 3 (26:39):
Granted, granted, there are some uses for these things. In
the very very specific uses for this, it's not a
it's not a basically for the masses by any stretch
of the imaginating. It's the worst thing you can do.
But that's how they're being sold. And it's unfortunate. And
(27:02):
the funny thing is, what are you gonna do. They're
not regulated by anybody.
Speaker 2 (27:07):
There right there.
Speaker 3 (27:08):
They don't regulated by the SECA there or think you
can't get any trouble. They just keep selling these things there,
but make any difference. No one's gonna do a damn thing.
They can misrepresent them, they can sell them the wrong way.
The nonsense that I hear these people say on air,
the lies.
Speaker 2 (27:24):
If I came on air and I started, I go
to jail.
Speaker 3 (27:29):
Now now they can do they can say, they can
do whatever they want, and quite frankly, it disgusts me.
Speaker 2 (27:35):
Gotta take a break.
Speaker 3 (27:36):
Watchdog on Wallstreet dot com Watchdog on Wall Street dot
com again.
Speaker 2 (27:39):
Become part of the Watchdog on Wall Street family.
Speaker 3 (27:42):
Get to our site, sign up for our personal CFO program. Listen,
We're here to help. Okay, contact us. Okay, I thought
if I just spooked you in regards to something that
you did that maybe you shouldn't have done.
Speaker 2 (27:55):
Uh yeah, calls, get in. Contact Watchdog on Wallstreet dot
com will.
Speaker 1 (27:59):
Be bringing America financial freedom one listener at a time.
You're listening to the Watchdog on Wall Street with Chris Markowski.
Speaker 3 (28:24):
Waterback everybody. I mentioned something I want to clarify. I
was talking about nsn P five hundred fund and how
well it's done over ten, twenty, thirty, forty fifty years.
I do have issues with passive passive management. Set it
(28:45):
and forget it again. This is ripping into insurance guys
out there selling the newties. I'm going to rip into
advisors that don't know what the hell they're doing as well.
I see this again and again again. People have for
one case. It's actually it's actually a good story. More
people are signing up for for to one case at
(29:08):
their business.
Speaker 2 (29:08):
However, they don't know how to put them together.
Speaker 3 (29:11):
And what these firms do is they give you some
sort of questionnaire and you fill it out, and it's
supposed the least supposed to tell you, oh, your how old, Well,
you can put yourself in this target date fund and
you have to do a damn thing.
Speaker 2 (29:22):
We'll do it all for you. And they don't.
Speaker 3 (29:24):
They don't do crap, and it's not managed properly. We
have an issue right now. We have an issue right
now in the sense that currently out of exchange traded
funds out there, fifty five percent of them are passive,
meaning what set it forget it. They have a certain
formula that's put into place and that's what they do.
(29:47):
Now why why is that problematic? I want you to
think about this for a second.
Speaker 2 (29:53):
Well, it creates.
Speaker 3 (29:56):
It creates for basically reduced market efficiency and price discovery.
It causes much much more violent swings in the market.
You can think back to the sell off that we
had at Liberation Day. When everybody starts doing something, it's
(30:16):
going to think of it like almost like an avalanche
or a snowball turning into a big snowball rolling down
a hill. That increases market concentration and risk. That's a
systemic risk. You want to add a little gasoline to
that fire right now, right now. Margin borrowing people borrowing money,
(30:41):
borrowing money in their accounts to purchase more stock is
at the highest level ever, highest level ever.
Speaker 2 (30:51):
I was plotting.
Speaker 3 (30:52):
Alan greenspan back in nineteen ninety six to raise the
margin requirement because it was getting out of control at
that point time. It's nothing compared to where it is today.
So when things happen to go in the wrong direction
and people get margin calls, it can get ugly, very
(31:13):
very quickly.
Speaker 2 (31:14):
Now, how do you handle this? Well? How do we
handle it? We know that this is the reality and.
Speaker 3 (31:21):
We profit from it, just like we did when the
markets sold off on Liberation Day.
Speaker 2 (31:28):
What did we tell you to do?
Speaker 3 (31:29):
Keep your head, stay cool, keep buying dollar cost averaging,
and you will do fine. Watchdog on Wallstreet dot com.
Watchdog on Wallstreet dot Com is our site again. Become
a part of the Watchdog and Wall Street family, our
personal seat f old program.
Speaker 2 (31:46):
We'll be back.
Speaker 1 (32:01):
Taking Wall Streets liars, crooks and cheets out behind the woodshed.
You're listening to the Watchdog on Wall Streets.
Speaker 2 (32:12):
Welcome back, everybody, Welcome back. Anyway.
Speaker 3 (32:18):
I have talked about well and I'm gonna get into
a little bit later on the program as well, talking
about where we're at as a nation and the violent
world that we live in.
Speaker 2 (32:32):
And one of the things.
Speaker 3 (32:33):
That I have espoused again not my idea, is you
can look to the founders of this country, in particular
John Adams, Charlie Kirk talked about this all the time,
is that it's difficult, difficult for America to work, difficult
for this country to operate as a post Christian world.
(32:55):
Freedom doesn't work well in secular societies.
Speaker 2 (32:59):
It doesn't.
Speaker 3 (33:00):
It doesn't work because well freedom again, you know, you
want to have limited government out there, you have to
human beings have to be able to restrain themselves. And
when we live in a society when when people they
have no fear of God, they don't have a moral center,
we were not seeing the same same with We're not
(33:22):
looking at the same things as far as morals are concerned.
It makes different. It makes it hard to have a
free society, It really does. And our founders understood that.
In particular, John Adams talked about that. And this is
how I also feel about capitalism as well. I saw
this past week I watched a movie. I'm watched a
(33:43):
movie in a long time. I don't have the time,
but I saw it. It's like my big Denzel Washington fan,
and so Spike Lee movie as well, and actually enjoy
his movies very much. And I do believe Spike Lee
is most certainly a closet conservative, especially after watch this
last movie Highest to Lowest and all the conservative ideals
(34:05):
that he pushed on that program. And one of the
things Denzil Washington's character plays a very successful music executive
and he tries to explain to people. He says it
several times throughout the program, there's good money and there's
bad money.
Speaker 2 (34:27):
That's true.
Speaker 3 (34:29):
There's good money and there's bad money, and this is
about making money. I see this, and I've seen this
all the time throughout my career. It's one of the
reasons why my brother's and I left Wall Street. And
(34:49):
you know the funny thing is, you know we started
there obviously very very young. I'd walk into to certain
meetings and be in certain places and I could see,
you know how I ever get the feeling of been
somewhere and you have like you feel a presence of
evil in the room, and you feel it, and I'm younger,
(35:10):
you know, go getting you kind of sometimes you ignore
some of that stuff when you're younger. I most certainly
don't ignore it anymore. And what am I am I
talking about? We live in a world where laws, especially
when it comes to business, tax code, whatever it may be,
(35:31):
they're not written in black and white, they're written in gray.
And you've got actors out there and what they like
to call capitalism. I don't believe it's capitalism. Taking advantage
of people. That's that's not capitalism. Getting over on someone
is not capitalism. To me, capitalism is always two people
(35:51):
sitting down at a table and both walking away happy.
We have turned down, right, I mean the countless opportunities
we've turned down at Markowski Investments over the years because uh, it's.
Speaker 2 (36:08):
Can I make a lot of money, but it's bad money.
Speaker 3 (36:11):
One of those, in particular, was was starting a Markowski
Investments trading app.
Speaker 2 (36:16):
This is back when Robin Hood was in its infancy stages.
Speaker 3 (36:19):
They wanted us to to, you know, start that and
promote it here on the show. And I'm like, no, no, no,
I understand. You show me the projections and your projections
look good, and yeah, it'll put a lot of money
in our pockets, but it's bad money. Ethics matter. They
(36:40):
do they do just just because something is quote end
quote legal. Doesn't make it right. Just because it's legal
for somebody to go out and mass sell annuities the
wrong way to people up not illegal, does it make
(37:01):
it right that that's a problem. That's a problem. I
often talk about people and the fact that they have
this ethical bypass at birth, and I say, I mean,
I don't certain things that people do, certain jobs of people,
(37:23):
And I'm like, how do you look yourself in the mirror?
How do you go home and you know, kiss your
kids at night? Knowing what you do for a living
and the harm it's causing people. And I don't give
a rat buttocks that it's legal. It's unethical and it's wrong.
(37:49):
I funny thing is I get invited a lot. We
get invited a lot to the new clubs opening up.
The area where I live here in Tampa is growing,
and they're always selling these club I need to be
part of the one percent, one percent top people here.
We're going to be a part of this club. But
it's got the oxygen oxygen treatment and saunas and all this,
(38:13):
and I'm saying to myself, Oh, it's only for the
top one percent, right, I don't want to be there.
You think that that's that I want to be surrounded
by a bunch of snobs that are comparing themselves to
one another based upon the watch they have or the
car they drive. You think that that's how we at
(38:33):
Markowski If you think the Markowski family judges people based
upon the stuff that they have, Again, why would I
want to be a part of that type.
Speaker 2 (38:46):
Of a club.
Speaker 3 (38:47):
I'd rather stick of hot poker in my eye for
crying out loud. He used to discuss me back when
I first started this true story, I first started on
Wall Street.
Speaker 2 (38:57):
I have a lot of money waiting.
Speaker 3 (38:58):
Tables p I used to buy my suits at secondhand stores.
There was this thing they called the I'm not making
this up. This is who these people are. They call
it the broker's handshake. They would grab your tie and
turn it around to see what the brand was. Ken
you want to be dealing with these people. These are
the type of people you want handling your money. Anyway,
(39:20):
I gotta take a break. Watchdog on Wallstreet dot com.
Watchdog on Wallstreet dot Com our personal CFO program.
Speaker 2 (39:25):
We'll be back.
Speaker 1 (39:28):
Chris Markowski is the Watchdog of Wall Street
Well, no one authored investment banker, consumer advocate, handlyst trader
Chris Markowski is.
Speaker 2 (00:14):
The watchdog Wall Street.
Speaker 1 (00:16):
Do you want to answer exposing the lies and myths
that the big brokerage firms, the mainstream press, and the
government are pushing to keep Americans away from financial freedom.
Speaker 3 (00:28):
You can't handled the true.
Speaker 1 (00:29):
Proof bringing America the truth about what really happens in
the financial world. Ladies and gentlemen, We're not here to
indulge in fantasy, but in political and economic reality. This
is the watchdog on Wall Streets.
Speaker 3 (00:45):
All right, welcome everybody on the only the Watchdog on
Wall Street Show.
Speaker 2 (00:53):
And uh, I'm.
Speaker 3 (00:54):
Going to give away some secrets today, some of the
secret sauce from Markowski Investment ut. First, I want to
I want to touch on touch on the Fed. Did
everybody Did everybody wake up on Thursday morning and say
I feel so much better because the Federal Reserved lowered
rates by a quarter of basis point yay. Uh. I
(01:21):
had this conversation again. You got your five hundred some
odd economists that work at the FED.
Speaker 2 (01:30):
It's amazing to me. And then then they laud these folks.
Speaker 3 (01:33):
Alan green Span, Ben Burn, Nanke Jane nick Ellen, all
of them out there. Oh yeah, they're rock stars. Members
of the Fed. Gotta get confirmed, gotta get confirmed by
the gum. I gotta be in a sit on a
Federal Reserve board. Five hundred of them, not all need
to be confirmed. Why are they wrong all the time?
(01:54):
They mean, you think about that? How can you possibly
be wrong all the time?
Speaker 2 (02:02):
Now by.
Speaker 3 (02:05):
Narrative based narrative based measures, how we look at people
in the world. These economists are supposedly much much smarter
than me. Oh yeah, they got more degrees than I
have most and went to Ivy League schools. How is
it that over the past thirty years, we've called we've
(02:27):
called inflation properly, we've called employment numbers properly. Yet they
perpetually get it wrong every single time. I jumping up
and down, and you know, oh, inflation is transitory, No
it's not. Oh yeah, inflation is benign. No, it's not
(02:49):
no inflation to speak of. Yeah, right, Sure. They rely
on these numbers that come from surveys, these government numbers,
and they have their algorithms. And again, I don't know
why they need four to five hundred of them. You
let me know if you actually wanted to make the
FED to Reserve more effective. They want if they really
(03:12):
wanted to be actually good at their job, you know
what they need to do.
Speaker 2 (03:18):
They need to give them backpacks.
Speaker 3 (03:20):
I'm serious. They need to give every member of the FED.
Send all of these economists out with backpacks and just
put them on a road hitchhike across America. They can
play that song by Simon and Garfunkel America.
Speaker 2 (03:35):
They can just go. They gotta go to all corners
of this country. Actually go out in the real world.
Speaker 3 (03:41):
Leave their fancy pants buildings in major cities, get out
and actually talk to human beings, talk to people. You
want the secret sauce. One of the secrets secret sauce.
Part of the secret sauce at Markowski Investment is we
(04:03):
understand the reality. And I've talked about this a lot,
the reality of the terrain. We don't buy into any
bull excrement narratives that are out there.
Speaker 2 (04:19):
Our firm. We're blessed.
Speaker 3 (04:21):
This doesn't make the Okay, how do you ours outperform
everybody else out there?
Speaker 2 (04:25):
Simple? Okay.
Speaker 3 (04:27):
We've got clients from all walks of life, from every
corner of this country. I learn from them, I know
better what's going on in this country than anybody.
Speaker 2 (04:41):
In Washington, d d C.
Speaker 3 (04:43):
Does most certainly anybody at the Federal Reserve period the end.
Do you think do you think they pick up the
phone and talk to a doctor's office and Albuquerque or
a you know, somebody owns a nail salon and boise.
Speaker 2 (05:02):
Wherever it may be. You see, we do that.
Speaker 3 (05:08):
We've got clients all every corner of this country, from
all walks of life.
Speaker 2 (05:16):
And this gives us an advantage too. This is why
we're better.
Speaker 3 (05:19):
We don't just deal with the uber wealthy class. We
deal with everybody. We deal with the young people that
are getting started. We deal with the people that are
in the accumulation stages. We've got small business owners helping
them out all over the country. And yeah, we got
people that are retired and super wealthy, got them all.
(05:40):
And we could take all of that information in and
give a damn good assessment of what's actually going on
on the ground, understanding the reality of the terrain. I
want to share with everybody something here today. I did
(06:00):
a podcast on it this past week as well.
Speaker 2 (06:04):
A gentleman that.
Speaker 3 (06:06):
One of the in my opinion, easily one of the
smartest guys in the world in my opinion, and when
I'm asked, when young people ask me certain books that
they need to read, especially, it doesn't make any difference
whether you're going into finance or whether you're going into
small business. I always tell them go on Amazon and
buy the book series.
Speaker 2 (06:26):
It's called The Inserto.
Speaker 3 (06:29):
It's written by Nassa Nicholas Talop and it's a series
of his writings and books. The guy is a risk
management expert. He's one that understands the reality of the terrain.
He's a historian, he's a philosopher. His stuff is fantastic
(06:49):
and I got a hold of because I wasn't able
to go to the Ron Paul Institute meeting this past
year and Professor Talib Firs Tallib was speaking at this
and I got hold of everything and the points that
he made and the title of his title of speech
(07:14):
is the world in which we live now.
Speaker 2 (07:19):
This is our reality.
Speaker 3 (07:23):
This is what this is part of our secret sauce
at Markowski Investments. This is what guides our decisions when
it comes to managing portfolios, not bs, not algorithms.
Speaker 2 (07:39):
Reality.
Speaker 3 (07:41):
Where are we at right now? As far as modern
society is concerned. A lot of talk out there, a
lot of talk out there, And these are some of
the things that I actually worry about, and I lament
about concentration. Concentration which is a distinctive feature of the
(08:01):
modern world, a winner take all type of a situation.
Talum describes it. Imagine an island with many species but
a high density per square meter. Compare that to a continent.
We're opening up space leads to fewer species per meter
because some will eventually dominate. This is cultural and economic
(08:25):
life today. I notice it in things like music, where
it's so hard to find again, I'm a big music fan,
so hard to find new good bands simply because guess what,
the way the system works, they just keep promoting the
same old stuff again and again and again. Same thing
holds true with books and authors. Now, this concentration, it's
(08:49):
a market mechanism. It's not inherently bad. The problem arises
in one of the things that we're dealing with right
now is unfortunately things get.
Speaker 2 (09:01):
Sticky at the top.
Speaker 3 (09:04):
Again, you want to go back to the nineteen nineties,
think about all of the innovation that took place at
that point in time. You know, the kids that the
kids that Standford all of a sudden working on a project.
Speaker 2 (09:15):
In their dorm.
Speaker 3 (09:16):
Boop, here we go, we got Google and he went
from college dorm to Google.
Speaker 2 (09:23):
Didn't take that long.
Speaker 3 (09:24):
And during that period of time, we watched companies go
by the wayside. Remember the search engines from back then
out of Vista or you take a look even in
the case of retail, all of the real pets, dot
com CD now all of this stuff that disappeared.
Speaker 2 (09:44):
However, what's happened? What's happened?
Speaker 3 (09:47):
And this is something that that bothers me a great
deal is the fact that we have entrenched powers. Certain
companies dominate their their dominat is entrenched because again they
work hanned in hand with the government. This is one
of the things that I can't stand. Doesn't make any
difference if the Republican president or Democratic president. The whole
(10:10):
public private partnership crap, which leads to what stupid regulations,
regulatory capture. This is one of the lies that you're told, oh,
I got to regulate this and regulate that. You know
who benefits from all sorts of regulations are the people
at the top that can actually afford to pay for
(10:31):
the regulations. We've compared it to basically building a moat
around their business.
Speaker 2 (10:38):
You can't get in wealth twenty percent.
Speaker 3 (10:46):
This is interesting, twenty percent of billionaire families in the
United States remain billionaire families after twenty years. Europe it's
the reverse. However, in the United States it's starting to
get stickier. I often talk about Joseph Schumpeter. Who's Joseph
(11:07):
Schumpeter again, economist, creative destruction capitalism. Capitalism works not just
by allowing upward mobility. Fuck, guess what, Like Gordon Gecko said,
you either do it right or you get eliminated. You
accelerate the downward equivalent. And again another point that he
(11:34):
made in his speech again how people the dynamics and
misunderstanding of history. And he talks about how again he's
a historian, but he's a statistician as well, and how
he views history differently.
Speaker 2 (11:54):
It's a dynamic process.
Speaker 3 (11:56):
It's not a textbook definition, a static textbook definition.
Speaker 2 (12:02):
Things can change.
Speaker 3 (12:03):
Again, this is where I talk about all the time,
the reality of the terrain.
Speaker 2 (12:10):
Again, you see, people, it happens all the time. I
make fun of it.
Speaker 3 (12:13):
The well, you know, take a look at the evaluation
of the market and hasn't been this valued at this.
Speaker 2 (12:18):
Point in time.
Speaker 3 (12:20):
Okay, yes, by definition, you're right. But however, there's less
than half as many companies trading public today as there
was back in the nineteen nineties. And you take a
look at the differences between the United States and Europe
at that point time. There's so many different things that
are involved that Again, most people at the big brokerage firms,
(12:45):
they don't look at they don't understand. That's most certainly
a problem. Again, this puts us at an advantage because
we get it, we understand it.
Speaker 2 (13:01):
Projections fail. Projections fail.
Speaker 3 (13:06):
Says this specifically, because all the fools out there, all
the fools at the ocal local investment firms and Wall Street,
rely on primitive analysis of the past. They ignore second
order effects. It's important to look at those things.
Speaker 2 (13:27):
Again.
Speaker 3 (13:28):
I talk about the reality of the train. I use
this line something I learned from an Navy seal a
long long time ago. You go to war, You're going
into battle. You got your plan all in place, you
got your map. However, you hit the ground. You get
there and guess what the map's wrong. The positions are different.
Speaker 2 (13:50):
What do you.
Speaker 3 (13:50):
Do do you stick with your plan or you adapt
to the reality of the terrain.
Speaker 2 (14:00):
Take quick break right here.
Speaker 3 (14:01):
Got a lot more on this, Yeah, yeah, I'm giving
us some secret sauce away today Markowski Investment secret sauce.
But again, I want to remind everybody again we're different.
And I'll get into this a little bit later on
the program as well. I think I might have heard
this earlier. We help everyone out. Get to our website.
We act as your family's CFO.
Speaker 2 (14:22):
That's what we do, soup to nuts everything.
Speaker 3 (14:25):
We're here to help you and guess what, you don't
need ten million dollars to work with the Markowski family
Watchdog on Wallstreet dot com. Sign up for our personal
CFO program, Watchdog on Wallstreet dot com, or give us
a call eight hundred four seven one fifty.
Speaker 2 (14:41):
Nine eighty four.
Speaker 1 (14:58):
The only man who is taking on the Wall Street establishment.
Your listening to the Watchdog and Wall Street with Chris Markowski.
Speaker 3 (15:09):
I want to deal uh one more one more point
from talib actually makes seven points. I go over the
mall and our podcasts, and again I highly recommend everybody
signing up.
Speaker 2 (15:21):
For our podcast.
Speaker 3 (15:22):
I do several every single day, covering a myriad of
different topics, societal, money, you name it, we're covering it
on the podcast. Podcast continues to growth, available on every platform.
We can also get to our website as well at
Watchdog on Wallstreet dot com and sign up and get
it there. I want to touch on one more point,
(15:45):
and this involves economic saturation. Again, this is important as well.
And again you get a lot of companies out there
that point out the type of growth that they see.
But again you've got to understand the reality of growth,
the reality of growth, and this is important to understand
(16:08):
in his book. In this book Anti Fragile, which I
cite often here on the program, it talks about the
s curve in biology and economics, growth grows in a
convex way.
Speaker 2 (16:25):
It slows as it saturates.
Speaker 3 (16:28):
Now continue, you might continue to have growth, but it
remains sub logarithmic. And he gets a great example of this.
Once you have a two car garage, do you really
need a five car garage? Now yes, some, but most don't.
(16:50):
The incentive diminishes. And again this is where they talk
about growth in China. Again, you take a look and
this is one of the things where Muscus talking about
growing the population and the importance of that. Take a
look at growth in China, the type of growth that
they have. Why most people there still don't have a car.
Speaker 2 (17:12):
Well, we here in the United States and also in.
Speaker 3 (17:16):
Europe a lot of people have a car. And again
you're gonna have to replace cars, but you're not gonna
have that crazy type of growth. And certain things that
you know, the government will point to as far as
expenditures are concerned that they say is going to enhance growth.
Nonsensical things like bike paths another garbage doesn't do that.
(17:42):
The problem that we have, and this is something that
I touch upon all the time, is that these you know,
whether it be the EU the United States, we are
saturated economies and we have a lot of debt. So
when you see people saying.
Speaker 2 (18:00):
We're gonna grow our way out of this debt, really
we're not. That's just not the case. Doesn't work that way.
Speaker 3 (18:10):
But anyway, anyway, again, I did a very lengthy podcast
on this, and again these are things we want to
look into the mind of the Markowski brothers and how
we go about doing business and what makes it successful. Again,
we don't how shall I put it bs ourselves, We
(18:31):
don't and again we've been there, We've done that. I
know how the larger firms operate. I understand the herd
mentality and people that are younger out there back in
the day. And I would give credit to CNBC back
in the day. This is going back.
Speaker 2 (18:46):
Early nineteen nineties, oh, mid nineteen nineties. Excuse me.
Speaker 3 (18:50):
They used to make fun of the stock analysts on CNBC.
They used to show this video of penguins jumping off
and like an iceberg into the water.
Speaker 2 (19:01):
Because once one analyst said.
Speaker 3 (19:03):
Oh, put a bye on this, they all did it.
It's amazing to me how every single one has got
the same opinion that's out there.
Speaker 2 (19:12):
I'm always scratching my head.
Speaker 3 (19:14):
Why it's safe. It's safe, just like the way that
they manage your money. Well, we got to put it
into this Mantey Carlo simulation that they've given us, and
you gotta have a sixty forty portfolio and basically they're
told how to sell it, and you buy it and
you get sub standard returns. I mean, honestly, is there
(19:38):
really much of a difference between Burger King and McDonald's. Again,
I get you know, some people will you know I'm
talking about the Burgers. I mean, honestly, is there really
that much of a difference over their crappy burgers? If
that's what you want. As far as your money being managed, finally,
work with Merrill Lynch, work with Wells far Go, work
(20:00):
with those guys.
Speaker 2 (20:01):
Okay, get substandard returns.
Speaker 3 (20:05):
And the funny thing is you're paying more for fast
food financial planning. It's garbage anyway, Gotta take a break.
Speaker 2 (20:18):
Don't go anywhere.
Speaker 3 (20:19):
If you do, though, get to our website, Watchdog on
Wallstreet dot com. Watchdog on wallstreet dot com, our site,
our personal CFO program, open to everyone, Watchdog on wallstreet
dot com, or give us a call eight hundred four
seven one eighty four.
Speaker 1 (20:39):
You're listening to the Watchdog on Wall Street. You should
(21:01):
believe in math, not magic. You're listening to the Watchdog
on Wall Street with Chris Markowski.
Speaker 2 (21:12):
Quarter back. Welcome back, everybody.
Speaker 3 (21:16):
All right, I'm gonna share with you just some basic
facts reality and this is this is just simple.
Speaker 2 (21:27):
Passive investing. We don't we're not passive investors. We're not.
Speaker 3 (21:33):
But so I'm gonna share with you. I'm gonna share
with you some numbers just from the S and P
five hundred. We're gonna go back ten years. You put
ten thousand dollars to work in an S and P
five hundred fund ten years ago, two thousand, two thousand
(21:54):
and fifteen. That ten thousand dollars is worth thirty nine
thousand today. Twenty years ago, it's worth one hundred and
seven thousand dollars. Again, this is not adding to it.
Thirty years ago, it's worth two hundred and ninety six
thousand dollars. Forty years ago, ten thousand dollars. Not doing
(22:18):
a damn thing. You don't do it. Damn you don't
add to it. It's worth one point one million dollars.
Fifty years ago, it's worth almost four million dollars.
Speaker 2 (22:33):
The power of compounding. Rule one, Rule.
Speaker 3 (22:38):
One, rule number one, Markowski Investments.
Speaker 2 (22:42):
Compounding is the royal road to riches.
Speaker 3 (22:46):
Now again, I can definitely improve upon this without a
doubt if you're doing things the right way. But let's
just put this aside for a second. I'm really angry.
Various different programs on the radio, various different places around
(23:10):
the country where you have I'm sorry, insurance salespeople, insurance
salespeople scaring scaring people. Ah, your money's safe ups and
downs of the stock.
Speaker 2 (23:24):
You're gonna avoid all that. Yeahta make sure your money
is safe? Money missing new? What is this new? What
is that? You are getting screwed? You are a sorry, Okay,
I'm gonna say you're a fool now. You were duped.
Speaker 3 (23:39):
Okay, you got duped by a really slick salesperson who
told you to stick all of your money into these
god forsaken insurance products. These guys are not even investment
of ey, They're not rasis third with the sec.
Speaker 2 (23:59):
Have you ever when one of these guys and.
Speaker 3 (24:01):
They got these programs out there, why don't you ask
them the type of commission that they are gonna get paid?
Speaker 2 (24:10):
And they don't will dance around that.
Speaker 3 (24:12):
They'll talk about all the bonuses that you're gonna get
if you put money in right away, you are getting
a sub standard return. Oh, your money is safe safe
money investing. You know it's safe too. Whyn't just stick
your money in a what was it?
Speaker 2 (24:27):
What?
Speaker 3 (24:27):
Remember those old cans that our grandparents used to use?
There the tobacco can. Stick your money in a tobacco
can and bury it in the backyard.
Speaker 2 (24:34):
An money is safe back there? What are you doing
what are you doing.
Speaker 3 (24:43):
You're not seeing any level of return that is going
to keep up keep up with inflation. Your money is
not safe. You are losing money again. You take a
look at the value of money, you go back thirty years,
(25:05):
You've lost fifty four percent. I see the level of
returns that these annuities are paying.
Speaker 2 (25:12):
Their joke.
Speaker 1 (25:16):
Again.
Speaker 3 (25:17):
There's only so much we can do at Markowski Investments
because the majority, the overwhelming majority of people that contact
us due to frustration, because of fraud they thought or
stuff that they wish they hadn't done deals with damn
insurance and annuity products period the end.
Speaker 2 (25:42):
Go back and read my stuff.
Speaker 3 (25:46):
I've got my columns archived up on our website. I've
been writing for well thirty years. The horror stories. Again,
they don't go away, Okay, and age they again a
lot of these insurances that they don't even know. That's
all they are. They're not financial advisors. They have not
(26:09):
rec contracted. They passed the damn insurance exam, which you
could do in about a week, and they're out there
to sell these product I'll advise products. Please people, uh,
you know, don't don't get fooled into these things.
Speaker 2 (26:28):
And lock up your assets.
Speaker 3 (26:30):
You can't get a hold of them to get a
bloody sub standard return.
Speaker 2 (26:36):
It makes no sense. Now.
Speaker 3 (26:39):
Granted, granted, there are some uses for these things. In
the very very specific uses for this, it's not a
it's not a basically for the masses by any stretch
of the imaginating. It's the worst thing you can do.
But that's how they're being sold. And it's unfortunate. And
(27:02):
the funny thing is, what are you gonna do. They're
not regulated by anybody.
Speaker 2 (27:07):
There right there.
Speaker 3 (27:08):
They don't regulated by the SECA there or think you
can't get any trouble. They just keep selling these things there,
but make any difference. No one's gonna do a damn thing.
They can misrepresent them, they can sell them the wrong way.
The nonsense that I hear these people say on air,
the lies.
Speaker 2 (27:24):
If I came on air and I started, I go
to jail.
Speaker 3 (27:29):
Now now they can do they can say, they can
do whatever they want, and quite frankly, it disgusts me.
Speaker 2 (27:35):
Gotta take a break.
Speaker 3 (27:36):
Watchdog on Wallstreet dot com Watchdog on Wall Street dot
com again.
Speaker 2 (27:39):
Become part of the Watchdog on Wall Street family.
Speaker 3 (27:42):
Get to our site, sign up for our personal CFO program. Listen,
We're here to help. Okay, contact us. Okay, I thought
if I just spooked you in regards to something that
you did that maybe you shouldn't have done.
Speaker 2 (27:55):
Uh yeah, calls, get in. Contact Watchdog on Wallstreet dot
com will.
Speaker 1 (27:59):
Be bringing America financial freedom one listener at a time.
You're listening to the Watchdog on Wall Street with Chris Markowski.
Speaker 3 (28:24):
Waterback everybody. I mentioned something I want to clarify. I
was talking about nsn P five hundred fund and how
well it's done over ten, twenty, thirty, forty fifty years.
I do have issues with passive passive management. Set it
(28:45):
and forget it again. This is ripping into insurance guys
out there selling the newties. I'm going to rip into
advisors that don't know what the hell they're doing as well.
I see this again and again again. People have for
one case. It's actually it's actually a good story. More
people are signing up for for to one case at
(29:08):
their business.
Speaker 2 (29:08):
However, they don't know how to put them together.
Speaker 3 (29:11):
And what these firms do is they give you some
sort of questionnaire and you fill it out, and it's
supposed the least supposed to tell you, oh, your how old, Well,
you can put yourself in this target date fund and
you have to do a damn thing.
Speaker 2 (29:22):
We'll do it all for you. And they don't.
Speaker 3 (29:24):
They don't do crap, and it's not managed properly. We
have an issue right now. We have an issue right
now in the sense that currently out of exchange traded
funds out there, fifty five percent of them are passive,
meaning what set it forget it. They have a certain
formula that's put into place and that's what they do.
(29:47):
Now why why is that problematic? I want you to
think about this for a second.
Speaker 2 (29:53):
Well, it creates.
Speaker 3 (29:56):
It creates for basically reduced market efficiency and price discovery.
It causes much much more violent swings in the market.
You can think back to the sell off that we
had at Liberation Day. When everybody starts doing something, it's
(30:16):
going to think of it like almost like an avalanche
or a snowball turning into a big snowball rolling down
a hill. That increases market concentration and risk. That's a
systemic risk. You want to add a little gasoline to
that fire right now, right now. Margin borrowing people borrowing money,
(30:41):
borrowing money in their accounts to purchase more stock is
at the highest level ever, highest level ever.
Speaker 2 (30:51):
I was plotting.
Speaker 3 (30:52):
Alan greenspan back in nineteen ninety six to raise the
margin requirement because it was getting out of control at
that point time. It's nothing compared to where it is today.
So when things happen to go in the wrong direction
and people get margin calls, it can get ugly, very
(31:13):
very quickly.
Speaker 2 (31:14):
Now, how do you handle this? Well? How do we
handle it? We know that this is the reality and.
Speaker 3 (31:21):
We profit from it, just like we did when the
markets sold off on Liberation Day.
Speaker 2 (31:28):
What did we tell you to do?
Speaker 3 (31:29):
Keep your head, stay cool, keep buying dollar cost averaging,
and you will do fine. Watchdog on Wallstreet dot com.
Watchdog on Wallstreet dot Com is our site again. Become
a part of the Watchdog and Wall Street family, our
personal seat f old program.
Speaker 2 (31:46):
We'll be back.
Speaker 1 (32:01):
Taking Wall Streets liars, crooks and cheets out behind the woodshed.
You're listening to the Watchdog on Wall Streets.
Speaker 2 (32:12):
Welcome back, everybody, Welcome back. Anyway.
Speaker 3 (32:18):
I have talked about well and I'm gonna get into
a little bit later on the program as well, talking
about where we're at as a nation and the violent
world that we live in.
Speaker 2 (32:32):
And one of the things.
Speaker 3 (32:33):
That I have espoused again not my idea, is you
can look to the founders of this country, in particular
John Adams, Charlie Kirk talked about this all the time,
is that it's difficult, difficult for America to work, difficult
for this country to operate as a post Christian world.
(32:55):
Freedom doesn't work well in secular societies.
Speaker 2 (32:59):
It doesn't.
Speaker 3 (33:00):
It doesn't work because well freedom again, you know, you
want to have limited government out there, you have to
human beings have to be able to restrain themselves. And
when we live in a society when when people they
have no fear of God, they don't have a moral center,
we were not seeing the same same with We're not
(33:22):
looking at the same things as far as morals are concerned.
It makes different. It makes it hard to have a
free society, It really does. And our founders understood that.
In particular, John Adams talked about that. And this is
how I also feel about capitalism as well. I saw
this past week I watched a movie. I'm watched a
(33:43):
movie in a long time. I don't have the time,
but I saw it. It's like my big Denzel Washington fan,
and so Spike Lee movie as well, and actually enjoy
his movies very much. And I do believe Spike Lee
is most certainly a closet conservative, especially after watch this
last movie Highest to Lowest and all the conservative ideals
(34:05):
that he pushed on that program. And one of the
things Denzil Washington's character plays a very successful music executive
and he tries to explain to people. He says it
several times throughout the program, there's good money and there's
bad money.
Speaker 2 (34:27):
That's true.
Speaker 3 (34:29):
There's good money and there's bad money, and this is
about making money. I see this, and I've seen this
all the time throughout my career. It's one of the
reasons why my brother's and I left Wall Street. And
(34:49):
you know the funny thing is, you know we started
there obviously very very young. I'd walk into to certain
meetings and be in certain places and I could see,
you know how I ever get the feeling of been
somewhere and you have like you feel a presence of
evil in the room, and you feel it, and I'm younger,
(35:10):
you know, go getting you kind of sometimes you ignore
some of that stuff when you're younger. I most certainly
don't ignore it anymore. And what am I am I
talking about? We live in a world where laws, especially
when it comes to business, tax code, whatever it may be,
(35:31):
they're not written in black and white, they're written in gray.
And you've got actors out there and what they like
to call capitalism. I don't believe it's capitalism. Taking advantage
of people. That's that's not capitalism. Getting over on someone
is not capitalism. To me, capitalism is always two people
(35:51):
sitting down at a table and both walking away happy.
We have turned down, right, I mean the countless opportunities
we've turned down at Markowski Investments over the years because uh, it's.
Speaker 2 (36:08):
Can I make a lot of money, but it's bad money.
Speaker 3 (36:11):
One of those, in particular, was was starting a Markowski
Investments trading app.
Speaker 2 (36:16):
This is back when Robin Hood was in its infancy stages.
Speaker 3 (36:19):
They wanted us to to, you know, start that and
promote it here on the show. And I'm like, no, no, no,
I understand. You show me the projections and your projections
look good, and yeah, it'll put a lot of money
in our pockets, but it's bad money. Ethics matter. They
(36:40):
do they do just just because something is quote end
quote legal. Doesn't make it right. Just because it's legal
for somebody to go out and mass sell annuities the
wrong way to people up not illegal, does it make
(37:01):
it right that that's a problem. That's a problem. I
often talk about people and the fact that they have
this ethical bypass at birth, and I say, I mean,
I don't certain things that people do, certain jobs of people,
(37:23):
And I'm like, how do you look yourself in the mirror?
How do you go home and you know, kiss your
kids at night? Knowing what you do for a living
and the harm it's causing people. And I don't give
a rat buttocks that it's legal. It's unethical and it's wrong.
(37:49):
I funny thing is I get invited a lot. We
get invited a lot to the new clubs opening up.
The area where I live here in Tampa is growing,
and they're always selling these club I need to be
part of the one percent, one percent top people here.
We're going to be a part of this club. But
it's got the oxygen oxygen treatment and saunas and all this,
(38:13):
and I'm saying to myself, Oh, it's only for the
top one percent, right, I don't want to be there.
You think that that's that I want to be surrounded
by a bunch of snobs that are comparing themselves to
one another based upon the watch they have or the
car they drive. You think that that's how we at
(38:33):
Markowski If you think the Markowski family judges people based
upon the stuff that they have, Again, why would I
want to be a part of that type.
Speaker 2 (38:46):
Of a club.
Speaker 3 (38:47):
I'd rather stick of hot poker in my eye for
crying out loud. He used to discuss me back when
I first started this true story, I first started on
Wall Street.
Speaker 2 (38:57):
I have a lot of money waiting.
Speaker 3 (38:58):
Tables p I used to buy my suits at secondhand stores.
There was this thing they called the I'm not making
this up. This is who these people are. They call
it the broker's handshake. They would grab your tie and
turn it around to see what the brand was. Ken
you want to be dealing with these people. These are
the type of people you want handling your money. Anyway,
(39:20):
I gotta take a break. Watchdog on Wallstreet dot com.
Watchdog on Wallstreet dot Com our personal CFO program.
Speaker 2 (39:25):
We'll be back.
Speaker 1 (39:28):
Chris Markowski is the Watchdog of Wall Street
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