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Positive earnings results helping market says shake -- concerns over monetary policy tightening.
Both here and actually around the world what -- -- -- happy well Chapin hill advisors president and Camry investment management chief investment officer that -- -- you know you -- pretty -- -- markets let's be honest you're you're gonna resident very -- -- calling it you're seeing something in the technicals and the S&P that tells you.
That global markets are gonna pull back and especially in this country the S&P is gonna pull back well what we're -- we had a -- 1650 which were close to right now.
And then we're building an inverse head and shoulders who probably will come down 16100 and then we'll get another rally from there are okay you're saying that we're gonna and that's the technical chart -- looking and saying you're seeing something -- -- you disagree about.
You know we -- all the asset classes so in our global taxable fund were still long US stocks but.
Do the valuations there we have a much higher exposure to foreign equities.
And so while we actually gave add it it is but I -- right.
The US is we look at the ten year PE ratios the US is out of 45 markets the third most expensive in the world.
All right so the US while not terrible valuation is -- There's much better opportunities abroad but to the and today we respect the -- as well and so if -- trends start to deteriorate will move more more to.
Not to harp on this -- but the trends have been showing us an emerging market investments that bet that investors are taking their money out of emerging markets are taking it out of the brick countries.
And paying it back to -- the US which is early look at his argument here because she's bearish on the US markets wouldn't.
And we've we've been do you risking over the past six months we've -- pretty much -- -- eliminate -- commodities positions story can get out of real State's turning down a foreign US is really the last.
And best performer of those markets and if if it moves were already at 60% cash and -- TF.
If if it starts to decline -- -- that as well.
You look at it okay look at the markets say we're trying to make it a forty winning streak for the markets overall though.
We know about tapering we know about the Fed governors -- every single but president governor come out and speak.
And kind of backed away from what it cost the -- -- that was Ben Bernanke's initial comments about tapering at the end of the year.
Market -- seem to be really as volatile as -- think you're you're concerned about.
Right I -- -- has gone back down fourteen and change you know -- huge decline of last couple weeks.
A lot of just complacency in the marketplace -- are down to 20% which is risky because -- the contrary indicator.
And I think tapering is a matter of circumstance it will happen when and how much but remember bond yields can move up just in anticipation.
Mortgage rates moved up enough in the last couple weeks.
300000 dollar mortgage on thirty years increased -- -- -- dollars a month.
That hurts the housing market and that's the core growth for our country -- about to make your argument better for international markets than mad at yesterday's major and I well.
Look a lot of these countries are just bombed out Greece is trading a long -- -- around three I mean that is the generational lows so a lot of these countries Greece Ireland Russia.
We think there's a huge opportunity in the next five and ten years not -- -- and on the next quarter.
But for the next five years -- it's a big big opportunity.
Which have to know your investor and that's the thing if your long term investor behavior in in NE TF which can be -- -- move around that's great or have a professional can do that.
But I think the average investors still gunshot they took a long time to -- -- and the funds flow started -- and buy low and sell high they just never learn.
What -- you have a different approach and you do different things frankly is as jobs outside of the studio you're you're managing private money.
You're -- ETF business you're actually selling two groups potentially institutional investors.
For your perspective Kathy deep -- coming into your office is saying.
I don't trust the stock market I wanna get out of the market that wants alternative investment absolutely infect another -- I -- I walked back in my office got a five million -- client called and said help I'm got to preserve that now.
And that's not lost this appearance Cathy yes -- we see a lot love we didn't -- see a lot of people that.
Really want to protect they're really worried we have our business owners are not -- employing new people there worried about putting money out.
They're worried about the underlying economy they're really not comfortable medalist at last word you don't really quick are the official money is coming -- or they're looking for alternative investments outside of the market.
And I think it's both -- -- to some money has been has been allocating.
And what they're looking for in many cases is a lot these alternatives -- think there -- A big need for investments that there will.
Diversify that portfolio the traditional assets.
You know a lot of these guys got burned by allocating commodities at the wrong time by allocating to murder marks a long time so looking for a lot of his ideas and I think the -- out there managed futures even currency type strategies that can help.
Diversify that traditional -- -- It will medley Kathy thank you it's always good to see you Kathy congratulations.
New client to your -- -- -- -- -- Emporia.
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