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Markets in your portfolio are fixated on the said Ben Bernanke that's right.
The stimulus gravy train is full speed ahead in the markets ended in the red again plus.
Lawmakers are going to head to head as our nation hurtles towards another government shut down.
What should you be concerned joining me now Scott Martin chief market strategist for united advisors.
Hilary Kramer president chief investment officer for AG capital on Matt -- CEO of -- financial.
I -- -- Manny with you you know last week we saw that stocks celebrated.
When the Fed came out and said you know.
We may not the the -- on here but then we gave it all back so what does that mean for what's gonna happen the futures we go down the road what is this market trading on.
Well what happened was everybody thought this taping was going to happen now -- -- -- it wasn't going to happen here racing back it did not happen we are all excited everybody bought stocks and when they close an all time high we pull -- -- easy pullbacks what one and a half percent from an all time high.
People are freaking out once again.
What's happening as -- a concern about the government shut down so.
What happens is you have these outside scenarios that affect the market whether it be the Fed whether it be the government shut that and then from there -- -- by Robertson he's all this happens a little blips on this long term -- -- -- -- big -- -- -- you you know -- it's -- trading on fundamentals -- -- -- -- Washington.
And forget mistakes Jerry DS and 500 is up 21%.
On the year.
There's just no way we're going to see in the next two to three months this fourth quarter were going into -- the -- to keep going up because.
Now we aren't going to be trading on earnings and what earnings -- on the third.
It can't happen Scott Healy who do you agree with period short term bowler short term bear.
A clearly my boy Matty because to Hillary's point -- Jerry this is -- -- we've been trading on earnings now for corners and a winning keeps going up I mean.
The example we are very early.
-- have been trading on yeah.
Okay let me play.
Let me put it -- -- -- live by this everybody's been talking about this earnings slowdown hurting the stock market and it hasn't happened so whose to say it's good to have -- in the fourth quarter when by the way is usually a typically good season for stocks.
But also government shut -- all I'm sorry -- -- government actually been working for the last couple years I think -- -- name is to get -- shuts down what's the sound of one hand no ray had an.
I -- I think everybody's so over that story like nobody believes that the government's gonna shut down and even if it does what difference will it make will make a difference is Sox.
Your view -- in a very very short term victory Jerry but you look back -- last two times this happened last couple of years what's happened to market sold off and as soon as that the government came out and you know the -- -- right now it's going to be a last -- gonna come through.
I hope it goes a last minute could only think it's gonna do for me is makes stocks may be cheaper short term immediate opportunity by at a discount -- The problem is that there could be some pressure and the selling continues and has follow through this time.
I actually think that the fourth quarter October especially.
How -- it difficult month historically for stocks but -- September September's typically the worst month of the year for stocks and look at September so far we're having a fantastic here.
-- it well we've been looked into a lot of fed officials Wright and William Dudley is one of them today.
He's talking about his concerns about the budget in the debt ceiling limits and he thinks it's gonna be damaging to the markets.
As Scott TU -- -- what do you say to individual investors out there who were looking at comments like this.
And making decisions about their portfolio portfolio should they -- Well they should I mean I think the market though Gerri tends to like debt I mean how many times have we raise the debt ceiling in the last couple decades Tony glory when he -- -- I mean it keeps going up in the market keeps going up listen I think more debt is okay as long as it the right kind of -- but.
To the point of -- let's talk about asset allocation I mean if you're an individual investors sitting at home.
You've got to be -- -- scared your bonds no matter what happens where the Fed tapers next month.
Or even next year so you certainly are gonna see people gravitate more towards -- -- -- bonds are just gonna pump prices up.
Are you really saying that it's good for ice.
To have more and more federal that we got some sixteen trillion dollars right now do you really believe that's the way for the country to go on this -- Well listen -- I got to come on -- -- on winning here now here's the real ugly I don't.
Dad there's a lot of worst four letter words -- dead and I'll tell you what else.
Good debt is owed by ourselves I'll tell you what I mean we all ourselves -- debt higher raise money markets.
China Japan or five or six in the line so.
The fact that we're holding ourselves all -- -- and everybody's raising -- around the world by the way it's not just does.
That's -- -- normally -- it is going to let me just doesn't quite look -- as as a as an American know it stinks I hate the fact they're bringing in more depth but as a stock investor it's actually good guys you're due out.
If you guys don't make sure we're gonna make money right -- -- -- actually yeah.
God every single day Hillary let's give these Texans sent swing and yeah I think it investors should be careful but know that if you the long term outlook.
Don't freak out if the market starts going down you might be going down for a five day period but down.
You should stick it -- the very very large I know why love ducks lined downtown Miami are scary I don't think this is the time to go piling into -- into stocks I do love the I.
Kids I -- did you guys to one other issue here.
And that's hedge funds coming to market that can now market themselves to the general public yet -- I get to lock in underperformance that's the way I look at it -- now.
What do you say.
I think it's -- -- a non event because.
People are investing in mutual funds right.
Mutual funds are terrible I mean I don't own any need to find they do not suggest anybody -- -- TL ETS are great but if you surpassing the invests -- index in -- mutual fund.
You're betting on somebody -- guy or girl group of people behind a table you've never met.
The pick stocks and a daily basis for -- yeah yeah -- rule 20% opera port 80% won't -- -- -- one if by chance of being a market felt OK a lot of money slack mutual funds but I ask you about hedge fund I I think hedge funds if you want to do it in -- -- due diligence then go ahead and do that initially be available for anybody out there watching just the rich you have Robertson reform even worse.
Then the ETF that outperform much -- need to hear it but if you -- -- -- -- should the ability to do that if you wanna let her pick the best you have got -- -- -- Still need to be qualified and he certainly -- to have a certain kind of like that certain -- minute moms and an asset.
However this is really just about leveling the playing field with -- The point here letting -- play -- And can advertise IQ level they're playing field so that individuals can have.
Horrible performance these guys have not happen on the job why would you invest with these guys when they're doing laps in the market it's an accident then that's for the story for 45 years now.
Well Jerry you know and also they've done is they've locked up individual investor to look at -- hedge funds it's kind of like the roach motel you -- can be you can check out -- that -- it.
What Bennett junior carried out maybe just advertising -- Stevie Collins bare bottom who now is.
-- through -- why do they take all the money and they run it would make sense if they had some performance but -- -- I had to go.
It's not Hillary and Matt thanks for coming on tonight guys did a great job thanks so much it.
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