Mike on the Money: Stock Market Turbulence

DOCTOR MICHAEL ADDISON AND ACTIVIST WALID HAKIM AND GARY VAUTOUR. WELL, STOCKS HAVE HAD A TOUGH START TO THE YEAR DESPITE YESTERDAY’S WILD RALLY. LOOKING PRETTY GOOD TODAY, TOO. SO FAR, THE S&P 500, THOUGH, JUST HAD ITS WORST QUARTER SINCE 2022. WE LOVE IT WHEN FINANCIAL EXPERT MIKE GIORDANO IS WITH US WITH WILLIAM’S WEALTH MANAGEMENT, BECAUSE WE WANT TO HELP YOU ALL SUCCESSFULLY NAVIGATE THIS KIND OF CRAZY PERIOD. SO MY FIRST QUESTION IS WHAT’S ACTUALLY DRIVING THE SELL OFFS THAT WE’VE BEEN SEEING? IS THIS A BLIP? IS THIS IS A DROP INEVITABLE? WHAT DO WE NEED TO BE WORRIED ABOUT? YEAH. WELL, DO WE NEED TO BE WORRIED? NO, YOU NEVER NEED TO BE WORRIED, RIGHT? YOU NEED TO BE EDUCATED AND PREPARED. THERE YOU GO. LOVE THAT. YEAH, THIS THIS THIS REALLY FEELS LIKE DEJA VU. WE STARTED THIS SEGMENT IN 2022 WHEN THE MARKETS WERE A MESS AND THEY WERE LIKE, MIKE, WILL YOU COME ON AND START TALKING ABOUT WHY WE SHOULD JUST RERUN THOSE SEGMENTS? WE COULD HOPEFULLY WE DON’T HAVE TO. HOPEFULLY WE DON’T HAVE A FULL RECAP OF 2022 NOW. YEAH, I MEAN, THE MARKETS HAVE HAD A WILD RIDE HERE OVER THE LAST MONTH AND PARTICULARLY OVER THE LAST WEEK. A LOT OF ROLLER COASTER RIDE, BUT YET THE MARKETS AREN’T REALLY OFF THAT MUCH RIGHT NOW. I MEAN, MAYBE ABOUT FIVE, SIX, 7%. SO IT’S NOT LIKE A MASSIVE DEAL. THE WAR IN IRAN IS, OF COURSE, A MAJOR FACTOR IN THAT. BUT THE MARKETS ARE ALREADY BEING A LITTLE WOBBLY. BEFORE THE WAR EVEN STARTED, THERE WERE SOME CONCERNS, LIKE AI MIGHT BE, YOU KNOW, CHANGING HOW SOFTWARE STOCKS SHOULD BE PRICED AND SOME OTHER AI COMPANIES. AND SO THERE WERE ALREADY SOME WOBBLES. BUT OF COURSE, THE WAR HAS BEEN THE BIG THE BIG ISSUE. OKAY, SO I’M HEARING YOU SAY THAT YOU DON’T FEEL LIKE WE’RE IN CRASH TERRITORY, AT LEAST NOT AT THIS STAGE. BUT IS IT THE TIME TO KIND OF REBALANCE A PORTFOLIO? IS IT TIME TO JUST KIND OF RIDE IT OUT? WHAT DO WE DO? WELL, YOU FIRST FIGURE OUT LIKE, WHEN DO YOU NEED THE MONEY? OKAY, WHEN DO YOU NEED THE MONEY? IF YOU DON’T NEED THE MONEY FOR FOR DECADES INTO THE FUTURE, THEN YOU HAVE THE ABILITY TO RIDE THINGS OUT. IF YOU NEED THE MONEY SHORT TERM, THEN YOU’VE GOT TO TAKE A LOOK AT YOUR PORTFOLIO AND SAY, DO I ACTUALLY HAVE ENOUGH MONEY THAT’S SAFE FOR THE MONEY THAT I’M GOING TO NEED IN THE SHORT TERM? SO THE THING YOU REALLY WANT TO DO IS, IS TAKE A REALLY CLOSE LOOK AT YOUR PORTFOLIO AND MAKE SURE IT MATCHES YOUR GOALS. OKAY? MAYBE FOR SOME PEOPLE WHO CAN WRITE IT OUT FOR A LITTLE BIT, THEY MIGHT EVEN BE ABLE TO FIND SOME OPPORTUNITIES IN A MARKET LIKE THIS. ABSOLUTELY. I MEAN, WHENEVER THERE’S SELL OFFS, THERE’S OPPORTUNITIES, RIGHT? THAT’S ONE OF THE THINGS WE’RE TRYING TO ALWAYS LOOK FOR, FOR CLIENTS IS WHAT KINDS OF OPPORTUNITIES CAN WE FIND IN EITHER INDIVIDUAL POSITIONS, A STOCK, A BOND, OR CERTAIN AREAS OF THE MARKET. BUT FOR ANYBODY THAT REALLY DOESN’T CARE THAT MUCH TO DIVE INTO THE NUANCES AND REALLY GET INTO THE NITTY GRITTY. THAT’S WHY WE HAVE YOU. EXACTLY. MAYBE YOU NEED LIKE A 45 IN ALL OF THAT STUFF. YEAH. BUT NO, REALISTICALLY, IF YOU DON’T CARE ABOUT ALL THAT STUFF, JUST THINK ABOUT, HEY, THE MARKET SOLD OFF. I DON’T NEED THIS MONEY FOR A WHILE, POTENTIALLY. JUST KEEP ADDING MORE MONEY INTO INTO YOUR ACCOUNT. YOU’RE BUYING AT LOWER PRICES TODAY THAN YOU WERE A MONTH AGO. WE’RE STILL SEEING THEM GO UP OVER THE LONG HAUL. OKAY. FOR SOMEONE WHO’S WATCHING RIGHT NOW A LITTLE ANXIOUS ABOUT THEIR INVESTMENTS, ARE THERE SOME CONCRETE THINGS THAT PEOPLE CAN ACTUALLY DO, LIKE NOW, LIKE THIS WEEK? YES, ABSOLUTELY. YEAH. I WOULD SAY EDUCATE. AND THE MORE EDUCATION YOU CAN HAVE, THE MORE INFORMATION YOU CAN HAVE, THE BETTER OFF YOU ARE. YOU GOT TO KNOW THE FIRST THING YOU WANT TO DO IS TAKE A LOOK AT YOUR PORTFOLIO AND SAY, WHAT DO I ACTUALLY OWN? RIGHT? AND IF YOU UNDERSTAND INVESTMENTS, THEN MAYBE, YOU KNOW, OKAY, I’VE GOT THIS MUCH IN STOCKS, AS MUCH IN BONDS. IF YOU DON’T, YOU’RE WORKING WITH AN ADVISOR, CALL YOUR ADVISOR UP, ASK THEM, HEY, HOW EXACTLY AM I POSITIONED? WHAT DO I OWN? ONCE YOU UNDERSTAND THAT, THEN YOU CAN FIGURE OUT LIKE, OKAY, WHAT ARE MY GOALS? IS THIS STUFF MATCH UP PROPERLY? THE MONEY THAT I NEED FOR THE LONG TERM IS THAT IN INVESTMENTS THAT CAN REALLY GROW, AM I PROTECTED IN THE SHORT TERM? THIS IS WHAT WE’RE TALKING TO LOTS OF PEOPLE ABOUT. I’VE HAD COUNTLESS CONVERSATIONS WITH PEOPLE. THEY’RE TRYING TO RETIRE RIGHT NOW, AND I’M LIKE, YOU’VE GOT YOUR PORTFOLIO CRUISING AT CRUISING ALTITUDE. YOU’RE FLYING WAY TOO FAST TRYING TO RETIRE, RIGHT? SO I’M LIKE, WE NEED TO DIAL THINGS IN. SO THAT’S WHAT YOU REALLY WANT TO DO RIGHT NOW IS SAY, WHAT ARE MY GOALS? WHEN DO I NEED THIS MONEY? AND AM I POSITIONED PROPERLY FOR THAT? THAT’S NOT A ONE SIZE FITS ALL. OH, NOT AT ALL. THIS STUFF IS ALL VERY CUSTOMIZED FOR EACH PERSON. LIKE IT’S ALWAYS A TREAT THAT WITH A SMILE BECAU