What's up! It's episode 101 of Payne Points of Wealth and earning season is not so bad. Bank earnings looking relatively strong. Everything's still in the backdrop of what is the FED going to do. Are they going to keep raising interest rates? Are they going to pause? Are they going to start lowering interest rates? Nobody really knows. Meanwhile, the market's like a rollercoaster ride up one day and down the next. It can't really find any footing and uncertainty is high. Russia is still in invasion of Ukraine. Sounds like Xi Jinping is the ultimate ruler forever of China. It's a crazy world. We're going to give you our thoughts on exactly what's going on in the economy, what's going on in the stock market, the ying and yangs, everyday moves, and how to play it. On the Tipping Point today we're going to talk about how every investor on Wall Street gets treated the same. No matter how much money you have, it's bad. We're going to explain why. Check it out.
You will want to hear this episode if you are interested in...We're at a point in the market where good news is bad news and bad news is good news and then there's a little mixed bag of both. You have a GDP number coming out this week and some economists say it may be very, very strong. They've been a little weaker than they were last quarter, but they're still positive. Then you get these rip-your-face-off rallies from companies when they come in with really decent earnings. Lamb research came in the other day with decent earnings, really good earnings stock going from 300 to 370 in one week. The same thing happened with Lockheed Martin.
The problem with trying to time the market is that you can get on the sidelines and wait for the good news, but the good news happens, you can't get back in. So it's one of these cases where we're in a corrective phase of the market and it's going to stay a corrective phase until the FED stops. That may very well be happening right now but nobody can predict what's unknowable.
This week on the tipping point: Wall Street treats every investor the sameWe've been looking at a lot of cases over the course of the last couple weeks at our boutique firm, Payne Capital Management, and we see every strategy under the sun. As we analyze portfolios, we look at all the underlying investments and the thing that blows my mind is it doesn't matter if you have $10 million or $10,000 Wall Street treats you the same. They sell you the same high-cost tax-inefficient products. It doesn't even matter how much money you have. It's kind of criminal and it's important as you build your net worth to make sure you're not constantly being treated like a retail investor.
It all comes down to the fiduciary rule. When President Obama proposed the fiduciary rule for the financial services industry, it was amazing. Banks, Wall Street firms, and insurance companies all fought it because they don't want to act in the investor's best interest, they wanna act in a shareholder's best interest. If you're ever going to invest with a wirehouse or a bank and insurance company, it's better to buy their stock because they're working in the best interest of the shareholder.
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When You Hit A Portfolio Home Run Are You Smart Or Are You Lucky?, Ep 21
2020 Lessons That May Keep Your 2021 Asset Allocation From Getting Out Of Whack, Ep 20
Rotation, Rotation, Rotation!, Ep 19
From Fear of Losing Money to Fear of Missing Out, Ep 18
A Portfolio With Deeper Breadth, Ep 17
If it’s in the Press, it’s in the Price, Ep 16
The Mother of All Stock Rotations, Ep 15
What are you doing with your money that can get in the way of good investing?, Ep 14
Trading One Uncertainty for Another, Ep 13
Market Change is No Respecter of Election Results— It’s Coming Regardless, Ep 12
Market Irony and Where You Don’t Want to be When the Melt Up Happens, Ep 11
Projecting a Market Future Based on Personal Experience, Ep 10
If You're Sitting in Cash Your Biggest Risk is the Cost of Opportunity, Ep 09
Uncertainty Continues With Talk Of An Economic Stall And An Impending Second Wave, Ep #08
Volatility & Uncertainty are your friends… dressed in a mask trying to scare you to death, Ep 07
Zero-commission Trading Platforms...Stock Market or Casino of the Pandemic?, Ep 06
Is Tech On The Way Down Or Is This Just A Correction? Ep #5
Mind-Numbing Tech Numbers And Why The Stock Market Is Always A Winner, Ep #4
Does Financial History Repeat Itself? Maybe. Ep #3
The Market Disconnect, Retirement Myths, Taxes and More Taxes, Ep #2
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