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-- -- -- Is the founder profit investments and mark party act is the senior well strategist with premier wealth first allied securities ski gentlemen thank you very much for coming Eugene first -- There's old adage don't fight the tape -- the tape has been bad for the past two days over 400 point drop over the past two days almost 450.
But you say the market is overreacting.
To the election.
Well David I think I don't like the latest market close today but.
I think fundamentals -- if you go back into the end of October you saw since this in the company's beating.
Current expectations and essentially.
-- uncertainty around elections -- -- her own fiscal cliff has forced mark in the look at macro headlines again you had some.
All we data coming in from Greece all right after the election so I I think -- -- basically.
On the -- to sell the news if you will.
And I think on long term as we've proven to be a mistake this wind up being a great opportunity to buy some high -- names.
Amid a market but I would stay away from names like group bonds that I look at more on the -- technology plays like Microsoft for EMC.
So going with some quality names that you know very well marked do you agree that this will end up being more of the 2009 opportunity because if you look at at least -- chart.
From 2009 it usually looks like a pretty decent moon shot because it was the low of the past several years according -- this is a little bit more serious.
-- this is serious but it's temporarily serious until the end of the year we need it we need a fiscal cliff compromise.
So that US households can avoid paying an additional 221 billion in taxes that works out to about.
I'm telling my clients stay calm and -- ways they're extremely worried and I'm talking about very affluent.
Individuals and families they're worrying.
Since the new -- ever since our existing president that was reelected.
For some reason many my clients felt -- Romney should be.
The the new president.
And now I think that that reality is just sinking and so I think this will present a buying opportunity we just have to get through this uncertain period and I can tell you when that -- you know until congress.
With with the president we fix this.
You're looking at Nordstrom right now by the way and it is trading down after hours as well Robert -- gonna be going through the numbers is Robert available.
Now let's let me let me ask you specifically -- about one tax that is of -- -- a lot of investors particular retirees the dividend tax is set to not only double.
But almost triple.
As a result of the expiring tax cuts from the books from the the bush era if that happens.
Is that they're gonna be a move a big move out of a lot of these high paid dividends stocks I agree as long as tax it's human remains favorable right now there's no reason to move but if we see.
15% up to 43%.
We got a major problems as -- problem for stocks like Johnson and Johnson and other stocks that had been the refuge of a lot of people over the past year I agree dividend paying stocks where your best friend and a very defensive that that is -- and I always like the paid to wait theme but.
Right now I'm advising my clients keep their money on the sideline don't call win by any.
New dividend stocks to add -- -- got.