Episode Transcript
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Speaker 1 (00:24):
Hello and good morning folks. It's Sunday, November twenty fourth.
Thanksgiving is coming up. Let me start out by wishing
everybody a happy Thanksgiving. I hope you enjoy it with
your family and friends. I can't believe the end of
the year is coming, and what a year we're having.
What a nice week we had in the markets. If
you're an investor, it's been really a beautiful thing to
(00:45):
be invested. Stay invested, not get scared out of the markets,
not be afraid, not listening to your brother in law.
You get it. You really need to be invested, be
invested for the right reasons, be invested in a way
diversified portfolio. And if you did that this year, you
are having one heck of a year. I'm Stephen Bouchet,
(01:07):
not one of my colleagues, but me Steve here live
and I would love to talk to you with any
questions that you may have. Please give me a call.
We had a great, great, great show yesterday. We you know,
had some good questions. Good callers. I always appreciate the
listening audience when they call in, and I do my
(01:29):
best to point them in the right direction, get them started.
So if you have any questions today, please give us
a call. Zach Harris, my producer, and I are here.
We would love to talk to you. The phone numbers
one eight hundred talk WGY. That's one, eight hundred eight
two five five nine four nine, one eight hundred eight
(01:51):
two five fifty nine forty nine. Any questions whatsoever. So
we had a good week, folks, I mean it was
really a knockdown week. When you think that the SMP
was up one point seven percent, NASDAK one point nine,
QQQ one point seven, Russell two thousand and four point
(02:15):
four to six, that's not a bad week. It's really
you know, I'll take weeks like this and you're to
date when you think about where the markets are. You
got SMP up twenty five percent, with dividends about twenty
six and a half percent. You got the NASDAK composite
(02:35):
twenty seven percent, NANSDAK one hundred, which is QQQ twenty
three point five percent, the Russell two thousand's up nineteen percent.
I mean, if you're invested and you're going to get
scared out of the markets for whatever reason, and believe me, listen,
we know it, especially every presidential election, not just this
(02:56):
presidential election. Every presidential election, investors for some reason get nervous. Well,
if this one gets in, the market's going to go
to heck in a handbasket, or if that one gets
in the market. I mean, folks, you got to just
put it out of your mind. It doesn't really matter
who's in that office. The stock market does just just fine.
(03:17):
Republicans Democrats, it doesn't matter. And since since the election
and the results, the markets have been doing good. I'm
very optimistic. I think the market is really in a
good spot. The economy is in a good spot. Inflation's
coming down. We got a lot of good things going
for US one eight hundred eighty two, five five, nine,
(03:39):
four nine. Let's kick off the morning with Frank in
Long Island. Good morning, Frank, good morning. Hello can oh
we can all hear you. We got a million people
listening to you. Frank right now.
Speaker 2 (03:57):
Well, good morning. How are you, sir?
Speaker 1 (03:59):
I'm doing good, Thank you, Thank you for calling in.
Speaker 2 (04:03):
All right, Well, I have a question for you. I'm
going to Italy and April.
Speaker 1 (04:08):
And oh man, man, can I go with you? Where
are you going over there? First of all, Frank, before
you ask your question, I'm going to Rome.
Speaker 2 (04:21):
I'm going to Florence and then I'm going to a
town called Castle de Monday. It's west of Rome, about
an hour drive west of Rome in the mountains. Oh wow,
I'm thinking of buying a house over there. I got
some lined up and I'm just thinking of what I
just wanted to know what you thought about investing some
(04:42):
money and in Europe.
Speaker 1 (04:45):
Yeah, well, you have to ask yourself this question. And ironically,
I was just talking to a friend the other night
and she has a family home just southeast or southeast
of Rome, and that was a family house that you know,
her dad had and it stayed in the family. But
(05:06):
you have to really give it thought. What will be
your reasons for buying a house there? How often will
you use it? And you know, if you're not using
it a lot, is it an investment? Can you make money? Now?
I don't know enough about the European real estate market
to answer that question. The other question is where will
(05:26):
you buy that house? What part of Italy? Have you
thought that out?
Speaker 2 (05:32):
Yes, exactly I have, because it's about an hour and
a half west of Rome, about forty five minutes from
the Adriatic, and I'm going to use it three or
four hopefully three or four times a year, and you know,
(05:52):
maybe Airbnb because it's in a ski area.
Speaker 1 (05:57):
Yeah. Yeah, Well, as I said, you know, you one,
you don't need a visa to buy property. I don't
know if you have a visa or not. But if
you if you think you're going to ever stay there
long term, you're going to need to get a residency permit.
Itallly does have an agreement with the US allowing US
(06:19):
citizens to buy property, so that's a beautiful thing. So
you shouldn't have any roadbox there. Italian banks, you know,
may offer some mortgages to non residents, but approval is
going to depend on you know, really your financial profile
and more than likely a large time not.
Speaker 2 (06:35):
Looking I'm not looking for a mortgage, Steve.
Speaker 1 (06:38):
Oh good. All right. So you know, so as far
as the logistics of buying a house, you should be
able to buy one easily. And as I said, you know,
as long as you think in your mind that it
could be a good investment, you may be able to
you know, between your personal enjoyment. I always say to
folks when they plan on living in their house forever
(06:59):
and ever or ever, and let's make believe somebody wants
to put a pool in, and we know that a
pool doesn't always add value to a home. And I say, well,
does it really matter if it adds value to the
to the selling price, because if you don't plan on selling,
then it's for personal enjoyment. So if this is going
to bring you personal joy, then put the pool in.
(07:21):
Same thing with you, Frank, You know, looking at this
this investment in Italy, if you think you're going to
go over and enjoy it, and if you can find
out a way, maybe find a manager over their property
manager to help you if you do an airbnb, because
obviously you're going to need house cleaning and all of that.
(07:42):
You know, if you've done your homework, then there's there's
there's nothing, no, no hurdles in your way. That's a
nice part about the relationship that the US has with Italy.
There's no hurdles in your way, especially if you're coming
in with cash, which is what I think you just
said to me.
Speaker 2 (08:00):
Yes, yeah, well see, I greatly appreciate you helping me
make this decision and I think I will do it.
Thank you so much of it, very kind.
Speaker 1 (08:12):
Well Wait, wait, two things. One I want to know
the code to get in in case I go over.
But in all seriousness, do you like meat? Do you
like steak?
Speaker 2 (08:27):
I do? I like the food in Italy too, so
in Florence.
Speaker 1 (08:31):
In Florence, and you can email me anytime. In Florence,
Mario's Tractatia down by the Central Marketplace is an experience.
They only open they close at three o'clock in the afternoon.
They literally, if you like beef, it will be an
(08:53):
experienced second to none, probably one of the best pisteca
Florentines you will ever eat. I mean, it's a I
loved it so much. It's one of the meals that
I cook for, you know, friends, when I have them over,
and it's it's just the quality of meat, the experience,
it's it's it's a show. It's worth you going there
(09:15):
Mario's Tractatia, And I'll give you the address.
Speaker 2 (09:20):
I'm going to go there. I I promise you I
will go there and I'll call you back next time.
Speaker 1 (09:25):
You will you will love it, and if you don't,
I'll pick up the check. That's how confident I am
you'll love it.
Speaker 2 (09:33):
Well, I'm a very big meat eater, so I'm looking
forward to it. Thank you, thank you.
Speaker 1 (09:38):
And there's one other restaurant on the other side of
the river in deep in the neighborhood. No English, no
pictures on the menu, which is the type of places
I like. If you email me, I'll give you all
my secrets of Florence. I will thank you all right, Frank,
thanks for calling. Good Luck, Happy Thanksgiving, Happy Sunday, fun Day, Zach.
(10:00):
It's Sunday. It's Sunday Funday, Zach. I mean, does it
get any better than this? Tomorrow begins the new work week,
but it's a short week. Thanksgiving. The stock markets will
be closed on Thursday, obviously, and believe it or not,
the stock markets close at one o'clock on Friday, which
I don't ever understand why the stock market closes at
(10:22):
one on Friday. But the day after Thanksgiving the stock
market closes that have one. So it's a short trading
week this week. Folks. You know, not much happening this
week in the marketplace. You got a few corporations coming
in with earnings. You get the Federal Open Market Committee
releases the minutes from their November meeting, which will be interesting.
(10:46):
That'll be something that a lot of people will be
anxious to hear what they were thinking, what they were
talking about, and so forth. And you got the Personal
Consumption Expenditures Price Index for October. The estimates two point
three percent year over year, just a little smidgeon more
than it was in September. The core PCE index strips
(11:10):
out food and energy is expected to rise two point
eight percent. The last game was two point seven percent,
So that'll be a big, big report. This is one
of the reports that the Federal Reserve Open Market Committee
looks at the PCE. That's actually their favorite favorite reading
on the economy and where where we're headed. How inflation
(11:34):
is is it in check or non? As I said,
Thanksgiving Day, the markets are closed and on Friday the
market's closed at one, not four. So that's what we
have going on this week. And if you have any questions,
give me a call one eight hundred talk WGY one
eight hundred eighty two five five nine four nine Zach.
(11:56):
Let me take a quick fifteen second break. I'll be
right back, folks. Ball lines are open. One eight hundred
eight to five fifty nine forty nine. Any questions whatsoever, Folks,
(12:16):
give me a call. I would love love love to
talk to you. So you know, this past week, we
in the video came out with the earnings, and they
were good earnings. People thought that the stock price, the
options market, which is, you know, betting on what's going
to happen, and in this month's stock they thought there's
(12:37):
going to be almost a ten percent move up or
down leading into it. And I'm telling you instead, on Thursday,
the stock you know, point zero point five percent and
half a percent. It's all that it moved in the video. Listen,
the video is responsible for a lot, a lot of
(12:58):
the earnings that that we've seen. So Navidia did not
move the markets, but the markets still moved. The markets
popped without Navidia, And as I said, you had a
good week with the SMP and the NASDAK being up
pretty pretty good. Sm P one point seven percent, NASDAK
(13:19):
one point nine percent. Almost what was nicer? Though? And
you hear me say this so often, and I'm gonna
say it again, not to repeat myself, but let me
let me say it one more time, at least one
more time. For today, the SMP equal weight ETF gained
two point five percent four hundred and twenty six of
(13:40):
the indexes. Stocks finished higher, and the small cap Russell
two thousand index, which I already went over, was up
four point five percent. Why are those two indexes important
to the market and investors as a whole. That means
that the rally is broadening out. That means that it's
not just the magnificent seven responsible for the returns. That
(14:03):
means that there's more and more companies taking part. I
gave the you know yesterday.
Speaker 3 (14:09):
I.
Speaker 1 (14:11):
Told you when you look at the SMP, you know
the top holdings, the top ten holdings account for thirty
five percent of the SMP, and that's a staggering number.
The Video being the largest weighted stock in the index
over seven percent, Apple seven percent, Microsoft six percent, Amazon
(14:32):
almost four percent, Meta which is Facebook two and a
half percent, Alphabet which is Google, almost four percent, Tesla
almost two percent, Berkshire Hathaway great Stock. Warren Buffett ninety
four years old. God bless him, still going strong. When
guys and gals in my office say, when are you
going to retire? I said, let me tell you a
(14:54):
story about one of the greatest investment gurus in the world.
Warren Buffett. He's ninety for he's still going to round
off the top ten, you got broad Com at one
point five percent waiting. So you get the idea you
buy the SMP, and that's kind of what you're getting
when you look at when you look at at the NASDAC,
(15:18):
it's even more staggering. You know, the top ten holdings
in NASDAK account for fifty one percent. When you buy NASDAK,
you're heavily weighted. Half of it is invested in just
ten stocks. Navidia at almost nine percent, Apple eight and
a half percent, Microsoft seven and a half percent, Amazon
(15:41):
five percent, broad Com almost five percent, Meta almost five percent,
Tesla four percent, Costco two point six percent, Netflix two
point four Alphabet almost four percent. Top ten holdings in
NASDAC account for fifty one percent of the assets. So
(16:03):
as you can see with the S and P and
the NASAC, it just takes a few companies to really
sway the returns of those indexes. Now, when you look
at the equal weight, all those companies are at about
zero point two seven percent. Equal weight means NA Video
being the largest company out there to the smallest company
(16:24):
in the S and P five hundred, they all had
the same weighting point two seven percent. The symbol on
that is R, s PS and Peter. And it's a
good compliment to your traditional core indexes. So if you're
going to own whether it be the S and P
or the Total Stock Market Index and NASDAC, having this
(16:46):
equal weight index will compliment those core holdings. And as
they said, it's nice a week like this to see
that those those indexes are are rising, and even for
the Russell two thousand to be up nineteen percent year
to day. That's a beautiful thing, folks. That means that
(17:09):
you know, this rally is for real. It's not just
based on a few companies as evidenced by Navidia having
good earnings, but you know, hardly swayed the markets. It
was all the other companies that swayed the markets. And
that's what you want when you're listen, when you're invested
for the long term, that's exactly what you want. You
(17:29):
want everybody to come to the party, not just a
few people. Everybody you want coming to the party. You
want it to be a good party. And that's where
I think the stock market is. Listen, I haven't minced
my words. I've been bullish on this market for a
long time, and yes, there's going to be days, weeks, months,
sometimes a year over the last we'll call it eleven years,
(17:50):
because we're almost through this year. The SMP was down
two of those eleven years. Two of those eleven years.
I don't care when the stock market is down. It
doesn't bother me. I tell my clients forget you own stocks.
If it bothers you just don't turn on those financial
(18:11):
you know, news programs. Do not you know, check your
account balances. It's just going to make you feel crummy
about owning stocks. And over time, listen, owning stocks is
a beautiful thing. Your average return I give this out
often over the last fifteen years. And there's been some
bad headlines over the last fifteen years. Right now we're
(18:33):
on the brink of a World War three, for God's sakes,
I mean, the stock market is still riding high. Your
average return over the last fifteen years is fourteen percent
year in year out average each year. Bonds less than
two point five percent. So if you have a diversified portfolio,
let's make believe you have a sixty to forty portfolio,
(18:56):
sixty percent stocks, forty percent bonds, you're going to have
a return that's still going to be decent, but those
bond holdings will lag you and bring you down. So
if you're a younger investor, don't be afraid of having
a growth portfolio mostly invested in stocks. Do not even
think twice about it. Write it out when the market
(19:19):
goes down. If anything, if you have some cash on
the side, put it in. The way smart investors make
money is when there's blood in the streets, they invest.
They don't, you know, they invest. It's like bitcoin right now,
we're almost touching one hundred thousand dollars. How many people
want to buy bitcoin right now today? At almost one
(19:42):
hundred thousand dollars? A ton of people. Where were they
just months ago when bitcoin was sixteen thousand dollars? I mean,
nobody wanted to buy it. That's when you want to buy, folks,
when there's blood in the streets. That's Volatility creates opportunities
for investors. And if you're a long term investor, do
(20:04):
not be afraid of the market. Do not have a
knee jerk reaction and look to get out of the market.
When the market has a bad hair day and it's down,
it's it comes with the territory. Over the last oh god,
how many years have I been doing the statistic? Forty
(20:25):
four years? The average swing in the market high to low,
top to bottom fourteen percent. That means the stock market
swings peak to trough fourteen percent a year on average.
So there you have it. When there's volatility. As they said,
don't get scared. Listen, you're gonna have a lot of
(20:46):
family at the Thanksgiving table. Don't listen to that brother
in law who thinks he's a node. All with investments,
make sure you have make sure if you're doing it
on your own, you do your due diligence. Make sure
you know what you want, why you own it. If
you're working with an advisor, ask the questions they're being paid.
If you have an advisor that says that he's not
(21:08):
being paid, fire him or her because they are being paid.
It may be built into you know, like a lot
of annuity salespeople say oh yeah, yeah, there's no commissions.
There absolutely is commissions. Let's call it a six percent commission.
But it's hidden and it's buried deep in the sixty
(21:29):
five page contract they gave you when you buy an annuity.
So if you have somebody that says, oh yeah, yeah,
you're not paying me. They're getting paid, folks. Everybody needs
to get paid. There's no free launch only at the
food banks, and the food banks is really a good
place to support, especially this time of the year. There's
so many people, you know, Thanksgiving, I think of how
(21:50):
many people can afford to put put, you know, a
turkey dinner on the table. So I love to see.
You know, my buddy Roddy, he gives out hundreds and
hundreds of turkeys every Thanksgiving. He and his company are
j Vilenni Gravel. And you know there's other organizations. The
(22:11):
Food Bank of Northeastern New York is a beautiful just
a beautiful organization. You know, this is the time of year, folks. Listen.
If you never thought about how charitable you are, this
is the time of year where you want to be
charitable because there are people out there that don't have
anywhere near what you have, and those are the people
(22:32):
that you really want to pay attention to and try
to help out. We're coming up to the bottom of
the hour you are listening to. Let's talk money brought
to you by Bouchet and Answer. Where we help our
clients prioritize their health while we manage their wealth for life.
We are going to come back at the other side
of the news hours, so don't go anywhere. We are
(22:54):
truly just just need to take a two minute break.
The phone lines are open one eight hundred eight two
five five nine four nine one eight hundred eight two
five fifty nine forty nine. Any questions you have, give
us a call while we're on the news break, and
if you want to go to our website Bouchet dot
com and get some get some good ammunition to give
(23:18):
me on the other side of the news break seeing
a quick couple of minutes. Hello and good morning, happy
Sunday folks. Thank you for hanging in through the news
and thank you for tuning in today. I can't thank
(23:38):
you enough for really making making Let's Talk Money they
most listened to show on the local airwaves. And I
truly appreciate you tuning in and I would love, love
love to talk to you and get you pointed in
the right direction. So if you have any questions, the
phone lines are open one eight hundred talk WGY. That's
(24:00):
one eight hundred eighty two five five nine four nine
one eight eighty two five fifty nine forty nine. Any questions,
give me, give me a call. Donald Trump chose Hedge
Fund executive Scott sent for Secretary of Treasury. Treasury Secretary.
We almost had a local guy, Kevin Walsh, who is
(24:23):
really a smart, you know, homegrown individual, and you know,
he was on the short list and he's a I know, Kevin,
he's a smart, smart guy. That would have been pretty
cool to have a local guy be Treasury secretary. But
I'm sure there's going to be something in the cards
(24:43):
for Kevin. Uh with with with President elect Donald Trump.
I know, for for him to be on the short list,
Trump must must think highly of him. And he's smart,
so you know, there's good reason to think highly of him,
you know, Trump surrounding himself. I said it yesterday, and
I'm not saying this to be political, but by a
(25:04):
lot of people that know a lot of things. I
don't care if it's Elon Musk, who I think is
probably the most brilliant person in the world and where
he gets his energy. I have no idea right down
to you know this this Treasury secretary pick. You know,
(25:26):
I'm kind of hoping that that there's going to be
some positive changes. I said this yesterday. This great country
of ours is in debt thirty five trillion dollars. Twelve
zero's at the end of trillion, thirty five trillion dollars.
We can't continue on like this. What that means, folks,
(25:47):
is that we have to keep selling bonds and paying
interest on those bonds, and just the charge of interest,
what it's costing this country is astronomical. So we have
to get that to sit down. We can't be spending,
you know, trillions of dollars more than we take in
every year. And since twenty twenty, our debt has gone
(26:11):
up almost twelve trillion dollars. That's just staggering. That's a
staggering number in this country. Listen, we need to rein
in the finances. Listen, you and I. If our household
income is one hundred thousand dollars and we're spending one
hundred and twenty thousand dollars, that means we're borrowing twenty
(26:31):
thousand dollars from somewhere, right. That's how you spend one
hundred and twenty when you're only earning one hundred, and
that's what the country's doing. We can't go on like this,
So I'm hoping. I'm hoping over the next four years
that we really wrap our arms around the debt that
this country is in and we do something about it,
(26:52):
because we can't continue on at this pace. It's it'll
bankrupt us, and it's you know, that's that's just not
a good scenario. The when we're spending as much money
as we are on interest to finance the bonds that
we're selling in order to stay afloat, and that's really
bottom line, to simplify what we're doing. We just can't
(27:14):
continue like that. It's going to really create financial chaos.
One eighty two five five nine, four nine, any questions,
give me a call. So the good news is, I
said this yesterday. Turkey prices are down. The average supposedly,
the average cost for Thanksgiving meal for a group of
(27:37):
ten is about fifty eight dollars. That's pretty reasonable, but
remember what I said on the first half of the show.
There's a lot of people that can't even afford that.
But turkey prices on average, I guess, are down about
six percent, but pecan pie up eight percent. So that's
the trade off. Eat more turkey, eat less pecan pie.
In order to balance out that budget but you know,
(28:00):
you got cranberries that are up. Stuffing mixes up, Turkey's down,
frozen peas are down, dinner rolls are up. Pie crust
are down, Pumpkin pie mix down, sweet potatoes down. I
guess all the sweetness. You know, nothing like sweet potatoes, right,
some mashed potatoes with gravy and a little sweet potatoes
(28:21):
to compliment the mashed potatoes. So you're going to be
spending hopefully a little less this year compared to last
year for your Thanksgiving meal. And I hope you enjoy
your Thanksgiving meal. I said it yesterday. My money saving
tip for this holiday season. If you want to spend
less money on Christmas gifts, talk politics at Thanksgiving dinner.
(28:44):
It's a I'm telling you, I guarantee you you'll have
people that won't be happy and you may have to
buy less Christmas gifts. Talk politics at Thanksgiving dinner. That's
my money saving tip for this holiday season. There you
have it. So how did the week start out? This week?
As I said, you know, the markets had a good week.
(29:07):
We began with you know, basically interest rates took stage again.
You had President Biden cleared Ukraine to use US missiles
to strike into Russia. I'm not sure that's a good
thing or a bad thing. I'm hoping this war comes
to a close sooner than later. We can't continue spending.
(29:29):
We sent over two hundred billion dollars into Ukraine. And
when you think of some of the cities in this
great country of ours, could they have used some of
that two hundred billion dollars. Absolutely, they look worse than
the war torn Ukraine looks. So just my personal opinion,
(29:49):
I'm not so sure we should be spending as much
of that money to send the Ukraine. So hopefully we
get this war resolved, you know, with that, you know,
Vladimir Putin, you know, basically kind of threatened the world
with his nuclear arms, and that meant that Treasury's gold
(30:12):
and the dollar is where investors went because that's considered
a safe haven. And the video beat huge expectations, but
it shares, you know, we're just kind of you know,
the whole hum While the market went up, the video
did nothing. Bitcoin almost one hundred thousand dollars, the smp NASDAC,
(30:33):
good Week, good year, one, eight, two, five, five, nine,
four nine. Let's go back to the phone lines. We
have Ryan in Clifton Park. Good morning, Ryan, Hello, Ryan.
Speaker 4 (30:50):
Yes, how are you. I'm doing fine this morning, thank you.
I have a CD that's coming up. And in the
past I used to always invest in like the Vanguard
five hundred, one of those large cap funds. But now
that the market is that it's all times sky hot,
what would you recommend when someone as CDs come up
(31:13):
with thousands of dollars in their seat that they want
to put back in the market. What's a good strategy
or some good funds to put your money when everything
is that it's sky high? Would you recommend that the
Vanguard five hundred again or that's to uh not at
this moment.
Speaker 1 (31:31):
So I'm going to give you a little secret. The
stock market's always hitting new all time highs. I said
it yesterday. The markets will correct. It's not if or
when it's it's I'm sorry, it's not if they'll correct,
it's when they'll correct. This market will correct. I don't
know when that will be. We'll go through a correction,
(31:53):
a bear market or recession. That will happen. The funny
thing is history has shown that the stock market has owed,
we's bounced back, always going on to make new all
time highs. And when I tell investors to invest their money,
and we try to educate, especially new clients that come in,
(32:13):
should we dollar cost average in or put the money
in lump sum? And the statistics show that putting money
in lump some you'll make more money with that because
if you dollar cost average over the last fifteen years,
there was only really only a few times where dollar
cost averaging worked. Putting that money in is a lump sum.
(32:35):
And you know, maybe you put the money in on Monday,
and maybe the market corrects the next Monday. Nobody knows
when the market's going to correct. Nobody has that crystal ball. Ryan.
But how old are you? All Right? So you're young,
so you know, not knowing the makeup of your your
(32:56):
entire financial picture, and how I don't know how comfortable
you are with risk. But listen, I'm a little older
than you, and I'm one hundred percent invested in the
stock market. And when the stock market goes down, I
actually look for cash that I can put into it
because I know that over time. I gave this statistic
out at the first half of the show. Your average
(33:17):
return over the last fifteen years in the SMP was
fourteen percent year in year out bonds less than two
zero point five percent. So if you're willing to ride
those ups and downs, if you're willing to, let's make
believe you put some of that money to work. Why
the markets are at or near their all time highs,
(33:37):
I can't I can't guarantee you that next week the
markets may not have a hiccup or go down. But
I am optimistic with the market. The economy strong, corporate
earnings are strong, you have inflation that's coming down, interest
rates are being cut at the Fed level. There's there's
a lot of good reasons to be invested and not
(34:00):
be afraid of stocks at this point. So my answer
to you, Ryan is, if you know, if this is
long term money and money you always wanted in the
stock market, I would say, hey, put it in, close
your eyes. If you put it in and you see
some volatility, don't get whatever you do, don't get scared out,
because the markets always come back, they always bounce back,
(34:23):
they always go on to make new all time highs. Now,
if you need to have some fixed income, well when
that CD comes due, if I were you, I would
I would look at buying treasuries I like treasuries. Now,
if it's in an IRA account, it doesn't matter because
you don't have to worry about taxes. But you're not
(34:44):
taxed on the New York State level with treasuries. And
right now, the ten year US Treasury is yielding four
point four percent, which is pretty nice. You can get
a six month four point five percent, a one year
four point four percent. And as I said, that interest
is New York State tanks free, so your equivalent is
(35:05):
just a tad higher than that. And I like that
better than CDs. I like these treasuries at this at
this level. So if you need fixed income to have
that Barbell approach to investing, then when that CD comes to,
look at the treasuries, especially where the treasuries are at
right now.
Speaker 4 (35:25):
Okay, thank you.
Speaker 1 (35:26):
Ryan, thank you. Enjoy your Sunday, stay healthy, happy Thanksgiving.
One eight hundred eighty two, five five nine four nine
one eight hundred eighty two, five fifty nine forty nine.
You know what's funny, folks. You can you can you
can on the weekends, you can bet on football, horse races.
(35:51):
You can't buy a stock four o'clock. The stock market
closes down Monday through Friday, and to think how we're
twenty four to seven world. You can't buy a stop.
The only action you can get is, you know, either
investing in you know, betting, not investing. Let me take
(36:15):
that back, betting on your favorite sports team or horse race,
pick a color, you pick a name of the jockey
you know, or do your homework and do some handicapping.
You can't buy a stop, but you can buy bitcoin.
Bitcoin is ninety seven ninety eight thousand dollars right now,
(36:38):
and it's it's remarkable how far bitcoin has come. I
think the big reason is that the Trump administration is
going to be crypto friendly. I think I think I
can say this that bitcoin is here and it's here
to stay. I think you're going to see more, you know,
(37:00):
bitcoin be more accepting. I guess is the word, and
you can buy it twenty four to seven. It's crazy,
it's it's it's it's crazy. You know, there's there's not
much you can you know, you can go to an
all night diner open twenty four to seven and grab
some eggs or a turkey sandwich, but you can't buy stocks,
(37:24):
the stock market, clothes, and believe me, there's some some
companies out there trying to figure out a way to
extend those extended hours, no pun intended. Where investors if
they want to buy some stocks, they they can buy
some stocks, you know, just like you can buy you
know crypto twenty four seven. Why can't we buy stocks?
(37:48):
Twenty four to seven? For those that can't get enough
you know of their their trading juices out of their
system by four o'clock on a Monday through Friday, eight
hundred eighty two five five nine four nine one eight
hundred eighty two five fifty nine forty nine, give me
a call. I'd love to talk to you. We've had
(38:10):
some great questions lately. Good questions. I always say, whatever
your question is, I can almost assure you that you
will have somebody listening that will have take great comfort
in the answer because they have the same question. Maybe
they're just shy. Don't be shy. You can call in.
(38:31):
I promise I, you know, I won't take a picture
of your calling in you know that microphone, even though
I can see you through the other end of the microphone.
Don't be shy. Use a makeup name if you want,
use a makeup city. But give a call if you
have any questions. One eight hundred eighty two five five
(38:51):
nine four nine. So, speaking of horse racing, I you know,
one of my hobbies is is race horses. Please don't
judge me. I always say, some guys by restaurants, other
guys by horse race horses. They all get right offs
and they all have fun. But it's a hobby. I
could have worse hobbies, right, But I do have a
(39:12):
horse racing next Saturday in the Hollywood Derby at Delmar
where the turf meets the surf and Carson's runs. The
horse named after a young young man, Carson Jost, who
has this terrible, terrible syndrome rare genetic disorder, and we
(39:34):
named the horse after him, and he's really right now.
If he wins the Hollywood Derby next Saturday at Delmar,
he will probably be nominated as the best three year
old in the country. So that's pretty exciting. So I
guess I'm forewarning you that I won't be on air
next Saturday because I'm going to go out and cheer
Carson's run on, hopefully through the finish line. So, you know,
(39:59):
speaking horse racing, right, one eight hundred eighty two five
five nine four nine one, eight hundred eighty two, five
fifty nine forty nine. I tell you who's scared right now?
Are some federal workers. Elon Musk. I'm telling you you're
gonna see this guy cut, cut, cut, and cut more.
(40:21):
And there's a lot of federal workers. He's already kind
of teasing people on social media what he plans on doing.
It's going to be interesting to see what happens on
January twentieth. It's going to be really really interesting, Elon Musk.
You know, to be able to try to make the
country and the government more efficient. How can you not
(40:44):
be for that? How can you not root for him
to be successful in that. I don't care if you're
a Democrat or Republican. You have to root for that.
More efficiency means not as much flock means maybe we
can work at chipping away at that thirty five trillion
dollar debt. Nine. Let's go back to the phone lines.
(41:06):
We have Bob, Hello, Bob.
Speaker 5 (41:10):
Yeah, Hi, Steve, this is interesting, good good. We went
to the doctor this week, large practice specialists, you know
that type of thing, and he wound up talking about AI.
He said, next year we're putting an application in where
(41:31):
we will be able to talk to you. The AI
will listen to the conversation, will lead out the small talk,
and literally put in the information so I don't have
to sit at the computer. I can look at you
and we can have a nice conversation instead of sitting
at the computer trying to put things in the computer.
While you know you're at the doctor. You've been to
(41:52):
the doctor where they're sitting there on their laptop or
whatever it is. You know they're there, They're they're writing
their notes down, they're talking to you. So there's an
application for AI. I thought, I said, wow, that is amazing,
and that's going to really, I think, help them and
streamline things for them. So it's quite exciting.
Speaker 1 (42:14):
Oh it's more than exciting. AI is here to stay.
And I've been I say it every so often. If
if you know, I say this to the listening audience,
if you haven't played around with AI, go and play
with it and just type in questions, write a letter,
put it in AI. Let the AI program kind of
(42:35):
help you fine tune that letter. AI is here to stay.
You think of the medical industry where you used to
have to go into a doctor's office and wait sometimes
for hours right before you get in and then tell
the medicine happen. So now you can make a phone call,
give your symptoms, take pictures of your of your mosquito
(42:58):
bite or whatever, and and you don't even have to
go into the office. And this is taking it a
next step further. AI is going to be playing such
a role. So you know, Bob, you bring this up
just in the medical world, just think of all the
other industries that AI is going to play an important
role in. And it's here to stay. So folks, if
(43:21):
you haven't you know, after don't do it till nine o'clock.
Hang in there with me till mine. But actually you
got Joe Gallagher on at nine, so listening to Joe.
Actually give Joe a call and ask him how he
uses AI. I would love to hear him answer that
question if he uses AI or not. That would really
be entertaining. Actually I may call into Joe. I mean,
(43:43):
tells Zach to keep me on the line. I want
to be Joe's first caller and I ask him about AI.
God bless the guy. He's the funniest guy I know.
But he comes on at nine, So wait till ten.
At ten download one of these AI programs and play
with it. You're going to be just it's gonna mess
with your mind. So Bob, you're right. It's you know,
(44:03):
it's it's here to stay and it's not going away.
And if it can help us, you know, listen, when
you're sick, you don't want to be told you can't
get into the doctor's office for two months. By then
you'll be better or debt. You need to get into
the doctor's office like today or tomorrow you're sick. So
(44:23):
if AI can help the medical world, I'm all for great,
great comment, Bob. I'm glad.
Speaker 5 (44:29):
I'm glad all productivity will really go up. Okay, thanks you, Hey, Bob,
you'd be well.
Speaker 1 (44:34):
Enjoy this beautiful Sunday one eight hundred eight two five, five, nine,
four nine. Let's go back to the phone lines where
we have Margaret and Latham. Good morning, Margaret, good morning.
Speaker 3 (44:45):
I'm going to be your public service announcements for the holiday.
We were able to jump on board with Bouchet Financials
several years ago. It's the best move we ever made.
We are happy and content and your advice it's always there.
The webinar fantastic. Thank you, very much for doing the
service to the public and with this show. I've been
listening for the last hour and the information is invaluable.
Speaker 1 (45:09):
You are making me tear up, Margaret, you are making
me tear up.
Speaker 3 (45:16):
I wanted to call it. You know that people are
listening to your show. We're out here and it's a service.
It really is. Oh, thank you very much, and happy
Thanksgiving to you and your family.
Speaker 1 (45:26):
Thank you, Margaret, Thank you. You'll be well. I'm telling you, folks,
I love my clients. When I tell you, every client
that signs on, I tell them you're part of my family.
Now I've surrounded myself by twenty colleagues who think like
I do. All we care about is taking care of
our clients, doing what's right for our clients. You know,
(45:48):
my money is invested just like my client's money is.
Not many, not many investments people can say that in
the country. I'm proud to say it that I I
invest my money right alongside my clients money. But when
I tell you I love my clients, I care so
much about my clients when they put their trust and
(46:09):
faith in me and my colleagues to manage their wealth.
It's something that I don't take lightly. I take it
very seriously. I take my business very seriously, and I
am I'm just blown away by the relationships that I
have with clients, and so many clients become friends, and
(46:30):
it's just it's it's a beautiful, just a beautiful thing.
Once again, folks, I don't know where the hour went.
We're coming up to the you know, end of the
end of the show. You're listening to Let's Talk Money,
brought to you by Bouchet and Andrew, where we help
our clients prioritize their health while we manage their wealth
for life. You know, our tagline is health, Wealth for life.
(46:53):
And I tell clients, when you have your health, you
have everything. If you're fortunate to have your loved one, spouse, parts,
partner or whatever, you're really fortunate. And if financially you're
in a good place, don't mess around because you never
know when your health or your loved one, when that
situation can change. Believe me, I had a change to
me this year, and it's pretty sad, and you know,
(47:15):
I can't go back and change things. But enjoy life,
enjoy your family. This Thanksgiving, go to our website bootshe
dot com. That's b o U c h e Y,
and you'll be able to look at those webinars Margaret
talked about. Thank you for listening, folks, have a good day.
Hello and good morning folks. It's Sunday, November twenty fourth.
Thanksgiving is coming up. Let me start out by wishing
everybody a happy Thanksgiving. I hope you enjoy it with
your family and friends. I can't believe the end of
the year is coming, and what a year we're having.
What a nice week we had in the markets. If
you're an investor, it's been really a beautiful thing to
(00:45):
be invested. Stay invested, not get scared out of the markets,
not be afraid, not listening to your brother in law.
You get it. You really need to be invested, be
invested for the right reasons, be invested in a way
diversified portfolio. And if you did that this year, you
are having one heck of a year. I'm Stephen Bouchet,
(01:07):
not one of my colleagues, but me Steve here live
and I would love to talk to you with any
questions that you may have. Please give me a call.
We had a great, great, great show yesterday. We you know,
had some good questions. Good callers. I always appreciate the
listening audience when they call in, and I do my
(01:29):
best to point them in the right direction, get them started.
So if you have any questions today, please give us
a call. Zach Harris, my producer, and I are here.
We would love to talk to you. The phone numbers
one eight hundred talk WGY. That's one, eight hundred eight
two five five nine four nine, one eight hundred eight
(01:51):
two five fifty nine forty nine. Any questions whatsoever. So
we had a good week, folks, I mean it was
really a knockdown week. When you think that the SMP
was up one point seven percent, NASDAK one point nine,
QQQ one point seven, Russell two thousand and four point
(02:15):
four to six, that's not a bad week. It's really
you know, I'll take weeks like this and you're to
date when you think about where the markets are. You
got SMP up twenty five percent, with dividends about twenty
six and a half percent. You got the NASDAK composite
(02:35):
twenty seven percent, NANSDAK one hundred, which is QQQ twenty
three point five percent, the Russell two thousand's up nineteen percent.
I mean, if you're invested and you're going to get
scared out of the markets for whatever reason, and believe me, listen,
we know it, especially every presidential election, not just this
(02:56):
presidential election. Every presidential election, investors for some reason get nervous. Well,
if this one gets in, the market's going to go
to heck in a handbasket, or if that one gets
in the market. I mean, folks, you got to just
put it out of your mind. It doesn't really matter
who's in that office. The stock market does just just fine.
(03:17):
Republicans Democrats, it doesn't matter. And since since the election
and the results, the markets have been doing good. I'm
very optimistic. I think the market is really in a
good spot. The economy is in a good spot. Inflation's
coming down. We got a lot of good things going
for US one eight hundred eighty two, five five, nine,
(03:39):
four nine. Let's kick off the morning with Frank in
Long Island. Good morning, Frank, good morning. Hello can oh
we can all hear you. We got a million people
listening to you. Frank right now.
Speaker 2 (03:57):
Well, good morning. How are you, sir?
Speaker 1 (03:59):
I'm doing good, Thank you, Thank you for calling in.
Speaker 2 (04:03):
All right, Well, I have a question for you. I'm
going to Italy and April.
Speaker 1 (04:08):
And oh man, man, can I go with you? Where
are you going over there? First of all, Frank, before
you ask your question, I'm going to Rome.
Speaker 2 (04:21):
I'm going to Florence and then I'm going to a
town called Castle de Monday. It's west of Rome, about
an hour drive west of Rome in the mountains. Oh wow,
I'm thinking of buying a house over there. I got
some lined up and I'm just thinking of what I
just wanted to know what you thought about investing some
(04:42):
money and in Europe.
Speaker 1 (04:45):
Yeah, well, you have to ask yourself this question. And ironically,
I was just talking to a friend the other night
and she has a family home just southeast or southeast
of Rome, and that was a family house that you know,
her dad had and it stayed in the family. But
(05:06):
you have to really give it thought. What will be
your reasons for buying a house there? How often will
you use it? And you know, if you're not using
it a lot, is it an investment? Can you make money? Now?
I don't know enough about the European real estate market
to answer that question. The other question is where will
(05:26):
you buy that house? What part of Italy? Have you
thought that out?
Speaker 2 (05:32):
Yes, exactly I have, because it's about an hour and
a half west of Rome, about forty five minutes from
the Adriatic, and I'm going to use it three or
four hopefully three or four times a year, and you know,
(05:52):
maybe Airbnb because it's in a ski area.
Speaker 1 (05:57):
Yeah. Yeah, Well, as I said, you know, you one,
you don't need a visa to buy property. I don't
know if you have a visa or not. But if
you if you think you're going to ever stay there
long term, you're going to need to get a residency permit.
Itallly does have an agreement with the US allowing US
(06:19):
citizens to buy property, so that's a beautiful thing. So
you shouldn't have any roadbox there. Italian banks, you know,
may offer some mortgages to non residents, but approval is
going to depend on you know, really your financial profile
and more than likely a large time not.
Speaker 2 (06:35):
Looking I'm not looking for a mortgage, Steve.
Speaker 1 (06:38):
Oh good. All right. So you know, so as far
as the logistics of buying a house, you should be
able to buy one easily. And as I said, you know,
as long as you think in your mind that it
could be a good investment, you may be able to
you know, between your personal enjoyment. I always say to
folks when they plan on living in their house forever
(06:59):
and ever or ever, and let's make believe somebody wants
to put a pool in, and we know that a
pool doesn't always add value to a home. And I say, well,
does it really matter if it adds value to the
to the selling price, because if you don't plan on selling,
then it's for personal enjoyment. So if this is going
to bring you personal joy, then put the pool in.
(07:21):
Same thing with you, Frank, You know, looking at this
this investment in Italy, if you think you're going to
go over and enjoy it, and if you can find
out a way, maybe find a manager over their property
manager to help you if you do an airbnb, because
obviously you're going to need house cleaning and all of that.
(07:42):
You know, if you've done your homework, then there's there's
there's nothing, no, no hurdles in your way. That's a
nice part about the relationship that the US has with Italy.
There's no hurdles in your way, especially if you're coming
in with cash, which is what I think you just
said to me.
Speaker 2 (08:00):
Yes, yeah, well see, I greatly appreciate you helping me
make this decision and I think I will do it.
Thank you so much of it, very kind.
Speaker 1 (08:12):
Well Wait, wait, two things. One I want to know
the code to get in in case I go over.
But in all seriousness, do you like meat? Do you
like steak?
Speaker 2 (08:27):
I do? I like the food in Italy too, so
in Florence.
Speaker 1 (08:31):
In Florence, and you can email me anytime. In Florence,
Mario's Tractatia down by the Central Marketplace is an experience.
They only open they close at three o'clock in the afternoon.
They literally, if you like beef, it will be an
(08:53):
experienced second to none, probably one of the best pisteca
Florentines you will ever eat. I mean, it's a I
loved it so much. It's one of the meals that
I cook for, you know, friends, when I have them over,
and it's it's just the quality of meat, the experience,
it's it's it's a show. It's worth you going there
(09:15):
Mario's Tractatia, And I'll give you the address.
Speaker 2 (09:20):
I'm going to go there. I I promise you I
will go there and I'll call you back next time.
Speaker 1 (09:25):
You will you will love it, and if you don't,
I'll pick up the check. That's how confident I am
you'll love it.
Speaker 2 (09:33):
Well, I'm a very big meat eater, so I'm looking
forward to it. Thank you, thank you.
Speaker 1 (09:38):
And there's one other restaurant on the other side of
the river in deep in the neighborhood. No English, no
pictures on the menu, which is the type of places
I like. If you email me, I'll give you all
my secrets of Florence. I will thank you all right, Frank,
thanks for calling. Good Luck, Happy Thanksgiving, Happy Sunday, fun Day, Zach.
(10:00):
It's Sunday. It's Sunday Funday, Zach. I mean, does it
get any better than this? Tomorrow begins the new work week,
but it's a short week. Thanksgiving. The stock markets will
be closed on Thursday, obviously, and believe it or not,
the stock markets close at one o'clock on Friday, which
I don't ever understand why the stock market closes at
(10:22):
one on Friday. But the day after Thanksgiving the stock
market closes that have one. So it's a short trading
week this week. Folks. You know, not much happening this
week in the marketplace. You got a few corporations coming
in with earnings. You get the Federal Open Market Committee
releases the minutes from their November meeting, which will be interesting.
(10:46):
That'll be something that a lot of people will be
anxious to hear what they were thinking, what they were
talking about, and so forth. And you got the Personal
Consumption Expenditures Price Index for October. The estimates two point
three percent year over year, just a little smidgeon more
than it was in September. The core PCE index strips
(11:10):
out food and energy is expected to rise two point
eight percent. The last game was two point seven percent,
So that'll be a big, big report. This is one
of the reports that the Federal Reserve Open Market Committee
looks at the PCE. That's actually their favorite favorite reading
on the economy and where where we're headed. How inflation
(11:34):
is is it in check or non? As I said,
Thanksgiving Day, the markets are closed and on Friday the
market's closed at one, not four. So that's what we
have going on this week. And if you have any questions,
give me a call one eight hundred talk WGY one
eight hundred eighty two five five nine four nine Zach.
(11:56):
Let me take a quick fifteen second break. I'll be
right back, folks. Ball lines are open. One eight hundred
eight to five fifty nine forty nine. Any questions whatsoever, Folks,
(12:16):
give me a call. I would love love love to
talk to you. So you know, this past week, we
in the video came out with the earnings, and they
were good earnings. People thought that the stock price, the
options market, which is, you know, betting on what's going
to happen, and in this month's stock they thought there's
(12:37):
going to be almost a ten percent move up or
down leading into it. And I'm telling you instead, on Thursday,
the stock you know, point zero point five percent and
half a percent. It's all that it moved in the video. Listen,
the video is responsible for a lot, a lot of
(12:58):
the earnings that that we've seen. So Navidia did not
move the markets, but the markets still moved. The markets
popped without Navidia, And as I said, you had a
good week with the SMP and the NASDAK being up
pretty pretty good. Sm P one point seven percent, NASDAK
(13:19):
one point nine percent. Almost what was nicer? Though? And
you hear me say this so often, and I'm gonna
say it again, not to repeat myself, but let me
let me say it one more time, at least one
more time. For today, the SMP equal weight ETF gained
two point five percent four hundred and twenty six of
(13:40):
the indexes. Stocks finished higher, and the small cap Russell
two thousand index, which I already went over, was up
four point five percent. Why are those two indexes important
to the market and investors as a whole. That means
that the rally is broadening out. That means that it's
not just the magnificent seven responsible for the returns. That
(14:03):
means that there's more and more companies taking part. I
gave the you know yesterday.
Speaker 3 (14:09):
I.
Speaker 1 (14:11):
Told you when you look at the SMP, you know
the top holdings, the top ten holdings account for thirty
five percent of the SMP, and that's a staggering number.
The Video being the largest weighted stock in the index
over seven percent, Apple seven percent, Microsoft six percent, Amazon
(14:32):
almost four percent, Meta which is Facebook two and a
half percent, Alphabet which is Google, almost four percent, Tesla
almost two percent, Berkshire Hathaway great Stock. Warren Buffett ninety
four years old. God bless him, still going strong. When
guys and gals in my office say, when are you
going to retire? I said, let me tell you a
(14:54):
story about one of the greatest investment gurus in the world.
Warren Buffett. He's ninety for he's still going to round
off the top ten, you got broad Com at one
point five percent waiting. So you get the idea you
buy the SMP, and that's kind of what you're getting
when you look at when you look at at the NASDAC,
(15:18):
it's even more staggering. You know, the top ten holdings
in NASDAK account for fifty one percent. When you buy NASDAK,
you're heavily weighted. Half of it is invested in just
ten stocks. Navidia at almost nine percent, Apple eight and
a half percent, Microsoft seven and a half percent, Amazon
(15:41):
five percent, broad Com almost five percent, Meta almost five percent,
Tesla four percent, Costco two point six percent, Netflix two
point four Alphabet almost four percent. Top ten holdings in
NASDAC account for fifty one percent of the assets. So
(16:03):
as you can see with the S and P and
the NASAC, it just takes a few companies to really
sway the returns of those indexes. Now, when you look
at the equal weight, all those companies are at about
zero point two seven percent. Equal weight means NA Video
being the largest company out there to the smallest company
(16:24):
in the S and P five hundred, they all had
the same weighting point two seven percent. The symbol on
that is R, s PS and Peter. And it's a
good compliment to your traditional core indexes. So if you're
going to own whether it be the S and P
or the Total Stock Market Index and NASDAC, having this
(16:46):
equal weight index will compliment those core holdings. And as
they said, it's nice a week like this to see
that those those indexes are are rising, and even for
the Russell two thousand to be up nineteen percent year
to day. That's a beautiful thing, folks. That means that
(17:09):
you know, this rally is for real. It's not just
based on a few companies as evidenced by Navidia having
good earnings, but you know, hardly swayed the markets. It
was all the other companies that swayed the markets. And
that's what you want when you're listen, when you're invested
for the long term, that's exactly what you want. You
(17:29):
want everybody to come to the party, not just a
few people. Everybody you want coming to the party. You
want it to be a good party. And that's where
I think the stock market is. Listen, I haven't minced
my words. I've been bullish on this market for a
long time, and yes, there's going to be days, weeks, months,
sometimes a year over the last we'll call it eleven years,
(17:50):
because we're almost through this year. The SMP was down
two of those eleven years. Two of those eleven years.
I don't care when the stock market is down. It
doesn't bother me. I tell my clients forget you own stocks.
If it bothers you just don't turn on those financial
(18:11):
you know, news programs. Do not you know, check your
account balances. It's just going to make you feel crummy
about owning stocks. And over time, listen, owning stocks is
a beautiful thing. Your average return I give this out
often over the last fifteen years. And there's been some
bad headlines over the last fifteen years. Right now we're
(18:33):
on the brink of a World War three, for God's sakes,
I mean, the stock market is still riding high. Your
average return over the last fifteen years is fourteen percent
year in year out average each year. Bonds less than
two point five percent. So if you have a diversified portfolio,
let's make believe you have a sixty to forty portfolio,
(18:56):
sixty percent stocks, forty percent bonds, you're going to have
a return that's still going to be decent, but those
bond holdings will lag you and bring you down. So
if you're a younger investor, don't be afraid of having
a growth portfolio mostly invested in stocks. Do not even
think twice about it. Write it out when the market
(19:19):
goes down. If anything, if you have some cash on
the side, put it in. The way smart investors make
money is when there's blood in the streets, they invest.
They don't, you know, they invest. It's like bitcoin right now,
we're almost touching one hundred thousand dollars. How many people
want to buy bitcoin right now today? At almost one
(19:42):
hundred thousand dollars? A ton of people. Where were they
just months ago when bitcoin was sixteen thousand dollars? I mean,
nobody wanted to buy it. That's when you want to buy, folks,
when there's blood in the streets. That's Volatility creates opportunities
for investors. And if you're a long term investor, do
(20:04):
not be afraid of the market. Do not have a
knee jerk reaction and look to get out of the market.
When the market has a bad hair day and it's down,
it's it comes with the territory. Over the last oh god,
how many years have I been doing the statistic? Forty
(20:25):
four years? The average swing in the market high to low,
top to bottom fourteen percent. That means the stock market
swings peak to trough fourteen percent a year on average.
So there you have it. When there's volatility. As they said,
don't get scared. Listen, you're gonna have a lot of
(20:46):
family at the Thanksgiving table. Don't listen to that brother
in law who thinks he's a node. All with investments,
make sure you have make sure if you're doing it
on your own, you do your due diligence. Make sure
you know what you want, why you own it. If
you're working with an advisor, ask the questions they're being paid.
If you have an advisor that says that he's not
(21:08):
being paid, fire him or her because they are being paid.
It may be built into you know, like a lot
of annuity salespeople say oh yeah, yeah, there's no commissions.
There absolutely is commissions. Let's call it a six percent commission.
But it's hidden and it's buried deep in the sixty
(21:29):
five page contract they gave you when you buy an annuity.
So if you have somebody that says, oh yeah, yeah,
you're not paying me. They're getting paid, folks. Everybody needs
to get paid. There's no free launch only at the
food banks, and the food banks is really a good
place to support, especially this time of the year. There's
so many people, you know, Thanksgiving, I think of how
(21:50):
many people can afford to put put, you know, a
turkey dinner on the table. So I love to see.
You know, my buddy Roddy, he gives out hundreds and
hundreds of turkeys every Thanksgiving. He and his company are
j Vilenni Gravel. And you know there's other organizations. The
(22:11):
Food Bank of Northeastern New York is a beautiful just
a beautiful organization. You know, this is the time of year, folks. Listen.
If you never thought about how charitable you are, this
is the time of year where you want to be
charitable because there are people out there that don't have
anywhere near what you have, and those are the people
(22:32):
that you really want to pay attention to and try
to help out. We're coming up to the bottom of
the hour you are listening to. Let's talk money brought
to you by Bouchet and Answer. Where we help our
clients prioritize their health while we manage their wealth for life.
We are going to come back at the other side
of the news hours, so don't go anywhere. We are
(22:54):
truly just just need to take a two minute break.
The phone lines are open one eight hundred eight two
five five nine four nine one eight hundred eight two
five fifty nine forty nine. Any questions you have, give
us a call while we're on the news break, and
if you want to go to our website Bouchet dot
com and get some get some good ammunition to give
(23:18):
me on the other side of the news break seeing
a quick couple of minutes. Hello and good morning, happy
Sunday folks. Thank you for hanging in through the news
and thank you for tuning in today. I can't thank
(23:38):
you enough for really making making Let's Talk Money they
most listened to show on the local airwaves. And I
truly appreciate you tuning in and I would love, love
love to talk to you and get you pointed in
the right direction. So if you have any questions, the
phone lines are open one eight hundred talk WGY. That's
(24:00):
one eight hundred eighty two five five nine four nine
one eight eighty two five fifty nine forty nine. Any questions,
give me, give me a call. Donald Trump chose Hedge
Fund executive Scott sent for Secretary of Treasury. Treasury Secretary.
We almost had a local guy, Kevin Walsh, who is
(24:23):
really a smart, you know, homegrown individual, and you know,
he was on the short list and he's a I know, Kevin,
he's a smart, smart guy. That would have been pretty
cool to have a local guy be Treasury secretary. But
I'm sure there's going to be something in the cards
(24:43):
for Kevin. Uh with with with President elect Donald Trump.
I know, for for him to be on the short list,
Trump must must think highly of him. And he's smart,
so you know, there's good reason to think highly of him,
you know, Trump surrounding himself. I said it yesterday, and
I'm not saying this to be political, but by a
(25:04):
lot of people that know a lot of things. I
don't care if it's Elon Musk, who I think is
probably the most brilliant person in the world and where
he gets his energy. I have no idea right down
to you know this this Treasury secretary pick. You know,
(25:26):
I'm kind of hoping that that there's going to be
some positive changes. I said this yesterday. This great country
of ours is in debt thirty five trillion dollars. Twelve
zero's at the end of trillion, thirty five trillion dollars.
We can't continue on like this. What that means, folks,
(25:47):
is that we have to keep selling bonds and paying
interest on those bonds, and just the charge of interest,
what it's costing this country is astronomical. So we have
to get that to sit down. We can't be spending,
you know, trillions of dollars more than we take in
every year. And since twenty twenty, our debt has gone
(26:11):
up almost twelve trillion dollars. That's just staggering. That's a
staggering number in this country. Listen, we need to rein
in the finances. Listen, you and I. If our household
income is one hundred thousand dollars and we're spending one
hundred and twenty thousand dollars, that means we're borrowing twenty
(26:31):
thousand dollars from somewhere, right. That's how you spend one
hundred and twenty when you're only earning one hundred, and
that's what the country's doing. We can't go on like this,
So I'm hoping. I'm hoping over the next four years
that we really wrap our arms around the debt that
this country is in and we do something about it,
(26:52):
because we can't continue on at this pace. It's it'll
bankrupt us, and it's you know, that's that's just not
a good scenario. The when we're spending as much money
as we are on interest to finance the bonds that
we're selling in order to stay afloat, and that's really
bottom line, to simplify what we're doing. We just can't
(27:14):
continue like that. It's going to really create financial chaos.
One eighty two five five nine, four nine, any questions,
give me a call. So the good news is, I
said this yesterday. Turkey prices are down. The average supposedly,
the average cost for Thanksgiving meal for a group of
(27:37):
ten is about fifty eight dollars. That's pretty reasonable, but
remember what I said on the first half of the show.
There's a lot of people that can't even afford that.
But turkey prices on average, I guess, are down about
six percent, but pecan pie up eight percent. So that's
the trade off. Eat more turkey, eat less pecan pie.
In order to balance out that budget but you know,
(28:00):
you got cranberries that are up. Stuffing mixes up, Turkey's down,
frozen peas are down, dinner rolls are up. Pie crust
are down, Pumpkin pie mix down, sweet potatoes down. I
guess all the sweetness. You know, nothing like sweet potatoes, right,
some mashed potatoes with gravy and a little sweet potatoes
(28:21):
to compliment the mashed potatoes. So you're going to be
spending hopefully a little less this year compared to last
year for your Thanksgiving meal. And I hope you enjoy
your Thanksgiving meal. I said it yesterday. My money saving
tip for this holiday season. If you want to spend
less money on Christmas gifts, talk politics at Thanksgiving dinner.
(28:44):
It's a I'm telling you, I guarantee you you'll have
people that won't be happy and you may have to
buy less Christmas gifts. Talk politics at Thanksgiving dinner. That's
my money saving tip for this holiday season. There you
have it. So how did the week start out? This week?
As I said, you know, the markets had a good week.
(29:07):
We began with you know, basically interest rates took stage again.
You had President Biden cleared Ukraine to use US missiles
to strike into Russia. I'm not sure that's a good
thing or a bad thing. I'm hoping this war comes
to a close sooner than later. We can't continue spending.
(29:29):
We sent over two hundred billion dollars into Ukraine. And
when you think of some of the cities in this
great country of ours, could they have used some of
that two hundred billion dollars. Absolutely, they look worse than
the war torn Ukraine looks. So just my personal opinion,
(29:49):
I'm not so sure we should be spending as much
of that money to send the Ukraine. So hopefully we
get this war resolved, you know, with that, you know,
Vladimir Putin, you know, basically kind of threatened the world
with his nuclear arms, and that meant that Treasury's gold
(30:12):
and the dollar is where investors went because that's considered
a safe haven. And the video beat huge expectations, but
it shares, you know, we're just kind of you know,
the whole hum While the market went up, the video
did nothing. Bitcoin almost one hundred thousand dollars, the smp NASDAC,
(30:33):
good Week, good year, one, eight, two, five, five, nine,
four nine. Let's go back to the phone lines. We
have Ryan in Clifton Park. Good morning, Ryan, Hello, Ryan.
Speaker 4 (30:50):
Yes, how are you. I'm doing fine this morning, thank you.
I have a CD that's coming up. And in the
past I used to always invest in like the Vanguard
five hundred, one of those large cap funds. But now
that the market is that it's all times sky hot,
what would you recommend when someone as CDs come up
(31:13):
with thousands of dollars in their seat that they want
to put back in the market. What's a good strategy
or some good funds to put your money when everything
is that it's sky high? Would you recommend that the
Vanguard five hundred again or that's to uh not at
this moment.
Speaker 1 (31:31):
So I'm going to give you a little secret. The
stock market's always hitting new all time highs. I said
it yesterday. The markets will correct. It's not if or
when it's it's I'm sorry, it's not if they'll correct,
it's when they'll correct. This market will correct. I don't
know when that will be. We'll go through a correction,
(31:53):
a bear market or recession. That will happen. The funny
thing is history has shown that the stock market has owed,
we's bounced back, always going on to make new all
time highs. And when I tell investors to invest their money,
and we try to educate, especially new clients that come in,
(32:13):
should we dollar cost average in or put the money
in lump sum? And the statistics show that putting money
in lump some you'll make more money with that because
if you dollar cost average over the last fifteen years,
there was only really only a few times where dollar
cost averaging worked. Putting that money in is a lump sum.
(32:35):
And you know, maybe you put the money in on Monday,
and maybe the market corrects the next Monday. Nobody knows
when the market's going to correct. Nobody has that crystal ball. Ryan.
But how old are you? All Right? So you're young,
so you know, not knowing the makeup of your your
(32:56):
entire financial picture, and how I don't know how comfortable
you are with risk. But listen, I'm a little older
than you, and I'm one hundred percent invested in the
stock market. And when the stock market goes down, I
actually look for cash that I can put into it
because I know that over time. I gave this statistic
out at the first half of the show. Your average
(33:17):
return over the last fifteen years in the SMP was
fourteen percent year in year out bonds less than two
zero point five percent. So if you're willing to ride
those ups and downs, if you're willing to, let's make
believe you put some of that money to work. Why
the markets are at or near their all time highs,
(33:37):
I can't I can't guarantee you that next week the
markets may not have a hiccup or go down. But
I am optimistic with the market. The economy strong, corporate
earnings are strong, you have inflation that's coming down, interest
rates are being cut at the Fed level. There's there's
a lot of good reasons to be invested and not
(34:00):
be afraid of stocks at this point. So my answer
to you, Ryan is, if you know, if this is
long term money and money you always wanted in the
stock market, I would say, hey, put it in, close
your eyes. If you put it in and you see
some volatility, don't get whatever you do, don't get scared out,
because the markets always come back, they always bounce back,
(34:23):
they always go on to make new all time highs. Now,
if you need to have some fixed income, well when
that CD comes due, if I were you, I would
I would look at buying treasuries I like treasuries. Now,
if it's in an IRA account, it doesn't matter because
you don't have to worry about taxes. But you're not
(34:44):
taxed on the New York State level with treasuries. And
right now, the ten year US Treasury is yielding four
point four percent, which is pretty nice. You can get
a six month four point five percent, a one year
four point four percent. And as I said, that interest
is New York State tanks free, so your equivalent is
(35:05):
just a tad higher than that. And I like that
better than CDs. I like these treasuries at this at
this level. So if you need fixed income to have
that Barbell approach to investing, then when that CD comes to,
look at the treasuries, especially where the treasuries are at
right now.
Speaker 4 (35:25):
Okay, thank you.
Speaker 1 (35:26):
Ryan, thank you. Enjoy your Sunday, stay healthy, happy Thanksgiving.
One eight hundred eighty two, five five nine four nine
one eight hundred eighty two, five fifty nine forty nine.
You know what's funny, folks. You can you can you
can on the weekends, you can bet on football, horse races.
(35:51):
You can't buy a stock four o'clock. The stock market
closes down Monday through Friday, and to think how we're
twenty four to seven world. You can't buy a stop.
The only action you can get is, you know, either
investing in you know, betting, not investing. Let me take
(36:15):
that back, betting on your favorite sports team or horse race,
pick a color, you pick a name of the jockey
you know, or do your homework and do some handicapping.
You can't buy a stop, but you can buy bitcoin.
Bitcoin is ninety seven ninety eight thousand dollars right now,
(36:38):
and it's it's remarkable how far bitcoin has come. I
think the big reason is that the Trump administration is
going to be crypto friendly. I think I think I
can say this that bitcoin is here and it's here
to stay. I think you're going to see more, you know,
(37:00):
bitcoin be more accepting. I guess is the word, and
you can buy it twenty four to seven. It's crazy,
it's it's it's it's crazy. You know, there's there's not
much you can you know, you can go to an
all night diner open twenty four to seven and grab
some eggs or a turkey sandwich, but you can't buy stocks,
(37:24):
the stock market, clothes, and believe me, there's some some
companies out there trying to figure out a way to
extend those extended hours, no pun intended. Where investors if
they want to buy some stocks, they they can buy
some stocks, you know, just like you can buy you
know crypto twenty four seven. Why can't we buy stocks?
(37:48):
Twenty four to seven? For those that can't get enough
you know of their their trading juices out of their
system by four o'clock on a Monday through Friday, eight
hundred eighty two five five nine four nine one eight
hundred eighty two five fifty nine forty nine, give me
a call. I'd love to talk to you. We've had
(38:10):
some great questions lately. Good questions. I always say, whatever
your question is, I can almost assure you that you
will have somebody listening that will have take great comfort
in the answer because they have the same question. Maybe
they're just shy. Don't be shy. You can call in.
(38:31):
I promise I, you know, I won't take a picture
of your calling in you know that microphone, even though
I can see you through the other end of the microphone.
Don't be shy. Use a makeup name if you want,
use a makeup city. But give a call if you
have any questions. One eight hundred eighty two five five
(38:51):
nine four nine. So, speaking of horse racing, I you know,
one of my hobbies is is race horses. Please don't
judge me. I always say, some guys by restaurants, other
guys by horse race horses. They all get right offs
and they all have fun. But it's a hobby. I
could have worse hobbies, right, But I do have a
(39:12):
horse racing next Saturday in the Hollywood Derby at Delmar
where the turf meets the surf and Carson's runs. The
horse named after a young young man, Carson Jost, who
has this terrible, terrible syndrome rare genetic disorder, and we
(39:34):
named the horse after him, and he's really right now.
If he wins the Hollywood Derby next Saturday at Delmar,
he will probably be nominated as the best three year
old in the country. So that's pretty exciting. So I
guess I'm forewarning you that I won't be on air
next Saturday because I'm going to go out and cheer
Carson's run on, hopefully through the finish line. So, you know,
(39:59):
speaking horse racing, right, one eight hundred eighty two five
five nine four nine one, eight hundred eighty two, five
fifty nine forty nine. I tell you who's scared right now?
Are some federal workers. Elon Musk. I'm telling you you're
gonna see this guy cut, cut, cut, and cut more.
(40:21):
And there's a lot of federal workers. He's already kind
of teasing people on social media what he plans on doing.
It's going to be interesting to see what happens on
January twentieth. It's going to be really really interesting, Elon Musk.
You know, to be able to try to make the
country and the government more efficient. How can you not
(40:44):
be for that? How can you not root for him
to be successful in that. I don't care if you're
a Democrat or Republican. You have to root for that.
More efficiency means not as much flock means maybe we
can work at chipping away at that thirty five trillion
dollar debt. Nine. Let's go back to the phone lines.
(41:06):
We have Bob, Hello, Bob.
Speaker 5 (41:10):
Yeah, Hi, Steve, this is interesting, good good. We went
to the doctor this week, large practice specialists, you know
that type of thing, and he wound up talking about AI.
He said, next year we're putting an application in where
(41:31):
we will be able to talk to you. The AI
will listen to the conversation, will lead out the small talk,
and literally put in the information so I don't have
to sit at the computer. I can look at you
and we can have a nice conversation instead of sitting
at the computer trying to put things in the computer.
While you know you're at the doctor. You've been to
(41:52):
the doctor where they're sitting there on their laptop or
whatever it is. You know they're there, They're they're writing
their notes down, they're talking to you. So there's an
application for AI. I thought, I said, wow, that is amazing,
and that's going to really, I think, help them and
streamline things for them. So it's quite exciting.
Speaker 1 (42:14):
Oh it's more than exciting. AI is here to stay.
And I've been I say it every so often. If
if you know, I say this to the listening audience,
if you haven't played around with AI, go and play
with it and just type in questions, write a letter,
put it in AI. Let the AI program kind of
(42:35):
help you fine tune that letter. AI is here to stay.
You think of the medical industry where you used to
have to go into a doctor's office and wait sometimes
for hours right before you get in and then tell
the medicine happen. So now you can make a phone call,
give your symptoms, take pictures of your of your mosquito
(42:58):
bite or whatever, and and you don't even have to
go into the office. And this is taking it a
next step further. AI is going to be playing such
a role. So you know, Bob, you bring this up
just in the medical world, just think of all the
other industries that AI is going to play an important
role in. And it's here to stay. So folks, if
(43:21):
you haven't you know, after don't do it till nine o'clock.
Hang in there with me till mine. But actually you
got Joe Gallagher on at nine, so listening to Joe.
Actually give Joe a call and ask him how he
uses AI. I would love to hear him answer that
question if he uses AI or not. That would really
be entertaining. Actually I may call into Joe. I mean,
(43:43):
tells Zach to keep me on the line. I want
to be Joe's first caller and I ask him about AI.
God bless the guy. He's the funniest guy I know.
But he comes on at nine, So wait till ten.
At ten download one of these AI programs and play
with it. You're going to be just it's gonna mess
with your mind. So Bob, you're right. It's you know,
(44:03):
it's it's here to stay and it's not going away.
And if it can help us, you know, listen, when
you're sick, you don't want to be told you can't
get into the doctor's office for two months. By then
you'll be better or debt. You need to get into
the doctor's office like today or tomorrow you're sick. So
(44:23):
if AI can help the medical world, I'm all for great,
great comment, Bob. I'm glad.
Speaker 5 (44:29):
I'm glad all productivity will really go up. Okay, thanks you, Hey, Bob,
you'd be well.
Speaker 1 (44:34):
Enjoy this beautiful Sunday one eight hundred eight two five, five, nine,
four nine. Let's go back to the phone lines where
we have Margaret and Latham. Good morning, Margaret, good morning.
Speaker 3 (44:45):
I'm going to be your public service announcements for the holiday.
We were able to jump on board with Bouchet Financials
several years ago. It's the best move we ever made.
We are happy and content and your advice it's always there.
The webinar fantastic. Thank you, very much for doing the
service to the public and with this show. I've been
listening for the last hour and the information is invaluable.
Speaker 1 (45:09):
You are making me tear up, Margaret, you are making
me tear up.
Speaker 3 (45:16):
I wanted to call it. You know that people are
listening to your show. We're out here and it's a service.
It really is. Oh, thank you very much, and happy
Thanksgiving to you and your family.
Speaker 1 (45:26):
Thank you, Margaret, Thank you. You'll be well. I'm telling you, folks,
I love my clients. When I tell you, every client
that signs on, I tell them you're part of my family.
Now I've surrounded myself by twenty colleagues who think like
I do. All we care about is taking care of
our clients, doing what's right for our clients. You know,
(45:48):
my money is invested just like my client's money is.
Not many, not many investments people can say that in
the country. I'm proud to say it that I I
invest my money right alongside my clients money. But when
I tell you I love my clients, I care so
much about my clients when they put their trust and
(46:09):
faith in me and my colleagues to manage their wealth.
It's something that I don't take lightly. I take it
very seriously. I take my business very seriously, and I
am I'm just blown away by the relationships that I
have with clients, and so many clients become friends, and
(46:30):
it's just it's it's a beautiful, just a beautiful thing.
Once again, folks, I don't know where the hour went.
We're coming up to the you know, end of the
end of the show. You're listening to Let's Talk Money,
brought to you by Bouchet and Andrew, where we help
our clients prioritize their health while we manage their wealth
for life. You know, our tagline is health, Wealth for life.
(46:53):
And I tell clients, when you have your health, you
have everything. If you're fortunate to have your loved one, spouse, parts,
partner or whatever, you're really fortunate. And if financially you're
in a good place, don't mess around because you never
know when your health or your loved one, when that
situation can change. Believe me, I had a change to
me this year, and it's pretty sad, and you know,
(47:15):
I can't go back and change things. But enjoy life,
enjoy your family. This Thanksgiving, go to our website bootshe
dot com. That's b o U c h e Y,
and you'll be able to look at those webinars Margaret
talked about. Thank you for listening, folks, have a good day.
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