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Kaltbaum Capital Management’s Gary Kaltbaum on how the fiscal cliff and Federal Reserve policies impact investors’ portfolios.
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Tonight navigating the markets investors are facing a barrage of headlines from the fiscal -- QE3 to Apple's new iPhone 5 release today.
Joining me now with tips on managing your money in today's markets Gary call -- from call -- capital management -- always great to see you.
So things -- pretty good market a year for three months can't continue and what do you see as the drivers of that.
It's simple at this point in time the market had a great break out I think with September 6.
As long as the -- stays above 1423.
I think we're in good stead.
-- will pull back -- be controlled and rotational.
Just keep in mind though this has everything to do and not just our fed.
But the European Central Bank Japan's now printing China India all.
I -- how -- of a monstrous amount that.
Yet that rotational thing you're -- understand that but I do understand every bank on the planet easing right now and that's putting a lot of liquidity.
Into all of these economies they're gonna go like gangbusters but what happens when we fall off this fiscal cliff in January.
Does everything come screeching to a halt in this country.
Well potentially got to remember some though they they have time once we go into the new year.
As far as the tax part just remember.
People wouldn't pay the higher taxes to the to the next staple -- no doubt on the spending front that could affect things but right now the markets on the Fed.
Nothing but the Fed if there's anything that could hurt it is what we get -- -- earning season not to Obama and I worry is that I'm sure this.
Earnings numbers are not going to be great overall -- sales numbers are not very good at this point in time.
But again not only did not fight the Fed but this is -- fed on hyper drive we have never seen the type of money -- I think across the globe like we've seen I think it probably continues.
Yeah I've read those stories about earnings -- pretty punk in the next quarter.
-- boy you have this fed on steroids how do you play that I mean what do you do -- an individual investor to capitalize on what the Fed's doing.
Well for me very simple -- owned gold and so over the inflation play.
Up whenever you start getting money to -- -- that us fixed assets those assets are gonna go up in price and the market in gold and silver is part of that.
Also commodities I also own housing interest rates staying low in the housing stocks are probably the strongest group in the market right.
Yeah I did fairly quiet -- Gary let me interrupt you here.
I don't what about the underlying here how -- actually buying another house how about.
Upgrading to a bigger house I mean at the end of the day these rates are low low low this is an opportunity isn't it.
I think it's a real good opportunity you know everybody's -- housing bottom I think we're gonna bump along the bottom for -- while.
But I think a lot of the worst is over.
And with getting literally free money now if you get a mortgage.
And you -- and you can also get pretty good deals except for some areas -- actually bidding up -- like in Phoenix and things like that.
Yeah -- there's nothing wrong with a just make sure it's good for you -- and you can afford it.
Our Gary thanks for the advice tonight really appreciate it it's always a pleasure to -- on the show.
And sorry about that peanut butter and jelly kept up up very -- next time next time are able to -- -- -- you is well you.
