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Kimberly Foss of Empyrion Wealth Management and Scott Martin of Accent Asset Management weigh in on the market and economy.
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-- minutes Dow well up over while not well but 38 points over 141000 right now we'll take it out of -- 100040.
Points.
I fed safe Ben Bernanke defending the Fed and response season house financial services committee saying.
Central Bank has helped -- -- in many many ways.
People are able to buy houses a very low mortgage rates -- refinance -- low mortgage rates.
People are able to get car loans that at low rates.
So their house values have gone up so that they feel.
You know more financially secure.
So in a lot of dimensions we have I think benefited main street and that is certainly are attractive.
Joining us now can -- in -- and wealth management president it's got -- united advisors chief market strategist.
Scott you say and I now actually that you think QE has done nothing to help this economy so what is it some like.
All sense of I don't know comfort.
David -- come pretty to -- caught a lot of things Tracy I mean look at that the market.
And the economy are are not really dancing together I was like to say look they -- dance together but they are on the same dance floor in the sense that.
Him because not gonna tank without the market following suit but yeah I mean if you look at the economic data -- mean that -- GDP alone the last quarter Tracy minus zero point 1%.
There's no way that the QE program is actually creating economic growth or frankly jobs in fact I have.
Several clients are small business people that have not been affected by that the moves of the Fed what's happened is they've completely -- that the bond market as far as rates they've killed the bank model.
And they've made people going to stocks to look for return which is why the market's been up.
You know -- the bifurcation between main street and Wall Street is getting bigger by the day quite frankly.
Wall Street -- fire our banks are stashed with cash and Scott's right.
Little main street still struggling between the regulations coming down the -- still really tough to get a loan.
How -- is helping the economy.
In I have to agree with that it's not really -- economy is -- a false sense of security.
I'm in and the markets and you know investors in my clients alike.
Should be cautiously optimistic for the short term I think the long term -- bullish.
But I -- the Fed's continued to print money and to buy back securities.
And create that you know easy money hey you know everything's going to be smooth sailing.
However we have a lot of turbulence on the horizon and people -- my clients should be very very -- aware of those -- determines when those air -- hit and dropped.
Then you have to have money on the sidelines to be able to go into the market but -- my prior should be crashed by the bond in come and interest rates it's just not there.
Right and his seniors and savers -- -- getting -- right now Scott what worries you go about this market I know Europe back on the table does that keep you up tonight.
How how a lot of things together magnitude Tracy -- that there are Europe and there's a while I including a young daughters just over still a hot.
But they -- I mean here's a bank Tracy you know it's funny volatilities back in the market and that's a little bit of a concern -- Joseph great -- know I mean investors have to be ready to put markets are put money to work in these markets -- I think.
There's going to be opportunity but these debates -- with Ben Bernanke involved with sequestration like you said that.
It -- Italy Italy election they're editing it it's over there I'm integrating kind of what I think is like a Lindsay Lohan marketed you well a good day a bad day good day at bad day.
In investors have to be ready to -- market their capital work in this market because I think that's where the opportunities are yet to -- on down days and sell and up once -- Buchanan.
And of course and you mentioned in your notes we have the Merkel re election later this year as well so -- based on all this.
You're saying bond markets now where can we all now it is savers are getting crushed where in the equity marketing -- directing your clients.
You know where I was invested Tracy long term and markets -- forty -- -- countries and 121000 different securities but.
What they did -- -- my portfolios to the value sector so.
That more specifically the large value.
I'm specifically at investments not more than like 5% -- our portfolios at eighteen T hey you know what that's returning over 5% dividend.
It's a global play it's Al mobile -- which technology is found that aren't I was on the horizon authorized.
And an AG I also like that as well it is eight global I'm playing a TV and it's a multinational so let's over 3%.
Seeing got I have those drips in the portfolio.
So that went on markets do have these volatilities this -- -- this turbulence you get paid for Oprah.
Hold it sort of long term.
Kim thought Scott Maher and thank you for your insights in that Scotty I know you an infinite -- -- keeping up in ninety UCC and she says I -- -- there isn't and we.
