Ralph Kramden, UPA, New York discussed on Investor's Edge
Radio. You're listening to. Once again to investor's edge. Thanks for being with us today. So here's what we're gonna do. We will post up. The webcast the bear market webcast. We're going to walk us through everything we've seen and how we stay one step ahead of it. This bear market. And we have told you that we're able to do that. 'cause we studied all of them. And we know how price works in bear markets. And this one's kind of classic. With a little sharper moves, but kinda sorta classic. And we'll give you more information. What's today? Tuesday will give you more information. Tomorrow thursday. Next week. Tuesday is a half day. Am I correct in saying Wednesday is Christmas? How 'bout Tuesday's Christmas? Today's the eighteenth. Tuesdays Christmas right Monday is a half day. Correct. Got that. Correct. And then of course, we'll head into the new year bear market UPA. I was asked that numerous times in the last few days how come Wall Street? Never calls bear markets and always use the word volatility instead of saying we're going down and all that. Well, let me let me explain and. Yeah, you can call this a little bit of an indictment of Wall Street. Wall Street has turned into a garden. Gargantuan. Hassett gatherer. For fees. Used to be lot more commissions. But now, it's fees. It's an annuity. They know what they're going to get paid every year at least on a percentage basis based on the assets. Butts. When markets had down. The amount they make those down. And when people are fed up with losses. They leave go somewhere else. Strategist lose their jobs. If they're too bearish. And how it works. Let's say a strategist just stays bullish in the markets down. Ten percent. Well. They turn in state. Well. It's just the ten percent correction. It's happened before. But then it's down fifteen. Yeah. We know it's fifteen, but you know, you gotta stick in there for the long term and you'll start hearing the words think long-term while your million bucks. Eight is eight fifty. But then it goes the twenty at all of a sudden people talking bear markets. Well, bear markets do happen. But if you look three to five years out. Or you'll hear you know, after the midterm election. The next year is always good or seventy percent of the time. Good or eighty percent. But then you down twenty five or thirty the markets twenty five or thirty. And of course, the strategists it's not that they're wrong. They're just always bullish. And what they do at that point. Is they no longer talk about what they think they just start reporting to you. What's going on because they missed everything. So at that point in time, they're telling you, well, this is happening. That's happening. It's happening because of this is happening because of that that may be more to go but hundred years of history. And then it turns into a big bear market than anybody expects. And then hope and pray or come into the fray. By the way, I've tried hope and prayer. It's never worked. And of course in the past twenty years, we've had booms and busts. So the last one everything was down in the fifties. And everything down in the fifties. There on TV dish strategists again. They're just reporting things, and they're blaming it on this that the other thing not taking any growth for being stupid and not taken any proactive thought process against a big drop in the markets. Because there's no incentive there that is why by the way, I was so impressed with this Lizanne Saunders from Schwab. Because she put herself Manno man on the line in the last nine months. Imagine being the head strategists of shrub. What are they have forty trillion dollars or whatever? And actually talking bearish -ly before the markets are getting hit. She was worried about things. So I give men you hear that. I'm clapping for her. Anyway, that's the story. Wall Street is a fully invested vehicle come hell or high water. That's where you come in. You gotta know what type of market in understand Wall Street and realize ain't gonna tell you to do anything. They could it be like Ralph kramden from honeymooners homina homina homina, by the way when I was just in New York. I got to watch two episodes man is that show great. I watched the one where Ralph was getting an award for the best bus driver, the safest, and then he got into an accident with some guy the turned out that guy was the substitute that give him the award. And the and the guy was famous for his fifty dollar fines, and this fifty minute lectures. And.