Episode Transcript
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Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
Big uge story this morning, business news Wall Street warns
of a correction Goldman Sachs, Morgan, Stanley Warren of market correction.
Oh yeah, picked up by all the big bus networks
out there. Global markets maybe do for a reality check
after this year's relentless rally, as Goldman, Sachs and Morgan's
(00:38):
finally caution investors to brace for a draw down over
the next two years. Yeah, draw downs happen. They're basically
coming out and this is making headline news. Okay, that
there could be a market pullback of anywhere between ten
(01:03):
to twenty percent within the next twelve to twenty four months. Basically,
let me, let me equate this news to you. There's
a pretty good chance that it might snow in upstate
New York over the next twelve to twenty four months.
What a ten to twenty percent draw down? It's nothing
(01:26):
for crying out loud, based upon where the markets have
come from this is news. Hey, guys, what would you
like people to do with that news? Huh? Again nothing
if you're smart. If you're smart, you're going to continue
(01:47):
to do what you've been doing, and that's dollar cost averaging,
putting money away, rotating assets. Market corrections happen, happened all
the time. Again, if I was to go through and
try to recall every single time the market sold off,
(02:11):
I'll take ten percent. We'll throw that out. Doing twenty
percent in my thirty years in this business. Do you
think I can remember them all? Do you think I
could recall them all? There's no way know how not
going to happen. This is, like I said, this is
(02:32):
basically useless information. But this is the business news. They
gotta get you going. They gotta get you going, to
gotta get you riled up about something. Do yourself a favor, Okay,
get your finances and order, get to our website, sign
up for our personal CFO program. Quit the trading kids,
(02:57):
because you're gonna lose. It was funny we're on this topic.
Had this sent over to me. It's obviously some stories
and videos that are coming out and in regards to
how these big investment firms and how they go about
making money using dark pools, and how they the robin
(03:21):
Hoods and the schwabs and all these online traders basically
allowing market makers to buy your orders, front, run your trades,
profit when you lose, give you fake shares, dilute companies,
manipulate markets, destroy real price action. And I'm laugh and
(03:43):
I say, uh yeah, yeah, could be coers. We've been
telling this now for dades. This is nothing new. Oh
they've gotten better at it, the technology has improved, but
this is nothing new again. Why do you want to
play their game? Why Little sun sou the art of
(04:08):
war for crying out loud people, You're not going to
win here, so don't play. Don't play this. Be an investor,
not a trader. Watch Dog on Wall street dot com